What is the difference between selecting a due date, invoice date, or current date under the "Auto settlement from advance" section in an invoice template?

Auto settlement from the advance option settles the dues against the advance, if present. This auto-settlement depends on the date that is selected. There are 3 types of dates. Let's explain with an example.

Invoicing Period - 1st August - 31st August
Due Date - 15th August
Invoice raised on 5th August

Dues Date: In this case, if you select the settlement date as Due Date, the system will run the auto settlement process on 15th August
Invoice Date: If the selected Invoice Date is, the settlement from the advance will take place, keeping the reference date as 1st August
Current Date: If the Current Date is selected, the advance settlement will happen instantly, i.e., on 5th August, while generating the invoice.

Admin can enable the auto-settlement option by referring to the steps below:

1. Go to the "Raise invoices" option under the invoicing section of the Accounts tab, and click on the Pencil Icon against the template that you wish to edit. 

2. Click on the "Additional Settings" tab.

3. Enable automatic settlement from advance, then select the Date option and click the Save & View summary option.