Advance Receipt
Definition
Money received from a customer before goods or services are delivered. It is recorded as a liability until earned, and in tax systems like GST may carry tax obligations at the time of receipt.
Related Terms in Invoicing & Sales
Invoice
A document sent to a customer requesting payment for goods or services. Includes seller and buyer details, items, amounts, taxes, and payment terms. HelloBooks supports AI-powered smart invoicing with multi-channel delivery.
Proforma Invoice
A preliminary invoice sent before delivery as an estimate or quotation. Not a demand for payment — used for customs, advance payments, and price confirmation. Can be converted to a tax invoice in HelloBooks.
Purchase Order (PO)
A formal document sent to a vendor authorizing a purchase. Specifies items, quantities, agreed prices, and delivery terms. HelloBooks supports 3-way matching: PO to GRN to vendor invoice.
Recurring Invoice
An invoice automatically generated and sent on a schedule — weekly, monthly, quarterly. Ideal for subscription services, retainers, and maintenance contracts. HelloBooks automates creation, delivery, and payment tracking.
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