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It's a pleasure to have you here, @Sai Krishna Hyderabad. Let me provide some ideas about advance receipts for future invoices.
In QuickBooks Online, we can set up a retainer process for your company. A retainer is treated as a liability. When you invoice the customer and receive payment against it, you'll turn that liability into income.
To proceed, let's create a liability account to track the number of retainers you receive from your customers.
Then, create a retainer item:
Now, retainer items can now be selected when creating an invoice or sales receipt for a retainer payment. Then, you can create a trust liability bank account. For detailed steps, please check out this article: Record a retainer or deposit.
You'll want to view retained earnings account. It displays the profit a company reinvests in itself.
Keep me posted if you have other questions about advanced receipt in QuickBooks. I'll be happy to help you. Stay safe and have a good day!
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