Annual Maintenance Contract
Need your advice on how best to configure the process for annual maintenance contracts (AMC).
My client provides service through maintenance contracts. Whenever an AMC is signed up and the money is received from the customer. They account it as advance from the customer. So the customer would have zero balance in debtors control account but an amount (say INR 120000) as an advance from the customer.
The monthly revenue (10000) would be booked on monthly basis and the advance would be adjusted for this monthly invoice.
1.Please let me know how can this be achieved through the sales module (through downpayment invoice).
2.Can this "advance from the customer" account be defined as a control account