The importance of accounting is more important today than ever before, and every successful company has a developed awareness of the importance of up-to-date and credible monitoring of business changes in their organization. Quality monitoring of accounting services provides a quality basis for decision-making by senior management. An advance is defined as the amount of money that the buyer pays into the supplier's bank account, usually according to the offer, through which the quantities and prices are specified, and the amount of the advance. The buyer can remit to the supplier the full amount of the value of goods/ services that the supplier will deliver/ execute in the future, or an amount less than the total value, but also an amount higher than the total value. Upon payment of the advance, the supplier issues an advance invoice to the buyer, which the buyer records in his business books. After the delivery of goods/ services, the supplier issues a final/ final invoice, which contains the calculation of the advance and any difference for payment or refund. Advances are divided by types, primarily by balance sheet items. This final paper deals with the area of given and received advances, primarily their accounting monitoring. The paper focuses on accounting for advances for fixed assets (tangible fixed assets, long-term intangible assets and long-term financial assets), value adjustment of advances, long-term liabilities for advances, advances for goods and advances for inventories. Accounting for advances is strictly prescribed by laws and regulations on tracking advances given and received. All laws on advances in the Republic of Croatia have been published in the Official Gazette.