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Accounting Journal Entries for Advance Payments in POS – Odoo 17

Hello everyone!

In this session, we’ll walk through how Odoo 17 handles accounting journal entries when an advance payment is accepted through the POS system.

We’ll cover an important use case that often confuses users — especially when an invoice is not immediately generated at the time of payment.

✅ Key Points Covered:
💳 Advance Payment without Invoice(invoice for downpayment)
When a customer pays in advance through POS and no invoice is generated,
➤ Odoo automatically creates a journal entry:
Debit: Bank / Cash
Credit: Current Liabilities (e.g., Customer Advances)

📦 Final Settlement of the Order
Once the order is delivered (in Sales backend) or completed in POS:
➤ The previously credited Current Liability is debited
➤ Revenue Account is credited, recognizing the income

📌 Why This Matters:
Understanding this flow helps ensure your accounting stays clean and compliant, especially when POS orders and down payments are involved.