advance & retentions

[Former Member]

Hi,

What is advances & retentions from sales point of view

[former_member204513 · Accepted solution]

Dear SAP Sd,

Retention

An agreement between buyer and seller, according to which the ownership rights to the delivered goods are transferred to the buyer, upon payment in full.

Advance

An amount paid by a customer for goods or services which have not yet been delivered or provided.

I hope it will clear for you,

Regards,

Murali.

[Former Member · Accepted solution]

HI murali,

Thx for replyin

1. Is advance similar to down payment.

2. Pl Throw some light on how to configure advance & retention

[former_member204513 · Accepted solution]

Dear SAP SD,

I hope Down payment is different from the advance

Down payment

A part of the full price paid at the time of purchase or delivery with the balance to be paid later.

Down payments are shown separately from other receivables and payables on the balance sheet.

A distinction is made between:

Down payments made (displayed under fixed and current assets)

Down payments received (displayed under payables)

I hope it will help you,

Regards,

Murali.