advance

Definition

noun
  • money paid as a loan or as a part of a payment to be made later
    Examples She asked if she could have a cash advance. • We paid her an advance on account. • Can I have an advance of $100 against next month’s salary?
adjective
  • early, or taking place before something else happens
    Examples advance payment • Advance holiday bookings are up on last year. • You must give seven days’ advance notice of withdrawals from the account.
verb
  1. to pay an amount of money to someone as a loan or as a part of a payment to be made later
    Example The bank advanced him $100,000 against the security of his house.
  2. to make something happen earlier
    Examples The date of the shipping has been advanced to May 10th. • The meeting with the German distributors has been advanced from 11.00 to 9.30.
Learn a new term: period end
Accounting-Dictionary.com
www.accounting-dictionary.com/definition/advance.html