Advance deposits allow schools to collect money during a current year for use in a future school year.  An advance deposit is recorded as a billable charge, and is considered funded when a payment is received and applied.  The advance deposit credits can then be generated during the next school year to credit the prepayment.  

There are two ways to create an advance deposit.  Create a new advance deposit charge on its own then apply a payment to it, or create the advance deposit directly from a new payment.  Steps for creating an advance deposit from a payment are provided below.