The New Gather - Horsemanship and More

The New Gather - Horsemanship and More
[ The New Gather - Horsemanship and More ]

ow does Procure-to-Pay automate the accounting of advance payments?

Posted by roobydoo on August 13, 2026, 10:03 am

Please share your experience with monitoring advance payment closings. We often pay suppliers 50% in advance and then forget to promptly request closing documents or include the remainder in the final payment. How does Procure-to-Pay automate the accounting of advance payments and link them to final invoices?

Re: ow does Procure-to-Pay automate the accounting of advance payments?

Posted by Rihzn on August 13, 2026, 10:38 am, in reply to "ow does Procure-to-Pay automate the accounting of advance payments?"

Advances issued and forgotten are frozen company funds that sit on the balance sheet for months. Monitoring them in manual spreadsheets is nearly impossible: someone will inevitably forget to request closing documents. Linking advances to final invoices should be rigorous and automatic.

Re: ow does Procure-to-Pay automate the accounting of advance payments?

Posted by MiloHarris on August 14, 2026, 2:24 am, in reply to "Re: ow does Procure-to-Pay automate the accounting of advance payments?"

Forgotten advances are frozen working capital. To keep track of them, check out this site. The Precoro system worked perfectly in our case, as it links the issued advance to the final invoice and purchase order. When the final invoice arrives, the software automatically accounts for the prepayment already made, reducing the risk of overpaying or losing closing documents to zero.

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