How to record collateral amount/Advance paid to the customer?

Some companies will be asked to pay an advance amount  (collateral amount) to the customer (mostly Govt Organizations) when a project is being carried out for them and the amount will be paid along with the payment due for the project, once it is completed.

How to record such collateral amounts paid to the customer?

In HAL ERP, Go to  Income>>Record Receivable>>Create New

In the Add item grid, select the account to debit the advance amount from and enter the amount and click on ADD. 

 Once the Accounts receivable transaction is created, the corresponding ledgers posted can be seen as in the screenshot below.