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• 15:31, 21 March 2023 Lukegao1 talk contribs created page How to Account for Advance Payments (创建页面，内容为“ Accounting for advance payments involves recording the receipt of funds from a customer or client before the goods or services are provided. Here are the steps to account for advance payments: 1. Create a liability account: Create a liability account on the balance sheet to track the advance payments received. This account could be named "Deferred Revenue" or "Advance Payments." 2. Record the receipt of funds: When you receive an advance payment from a cust…”)