diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index 6812940ee2..e170044f8e 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -13,6 +13,7 @@ from frappe.utils import (
 	add_days,
 	add_months,
 	cint,
+	comma_and,
 	flt,
 	fmt_money,
 	formatdate,
@@ -181,6 +182,17 @@ class AccountsController(TransactionBase):
 		self.validate_party_account_currency()
 
 		if self.doctype in ["Purchase Invoice", "Sales Invoice"]:
+			if invalid_advances := [
+				x for x in self.advances if not x.reference_type or not x.reference_name
+			]:
+				frappe.throw(
+					_(
+						"Rows: {0} in {1} section are Invalid. Reference Name should point to a valid Payment Entry or Journal Entry."
+					).format(
+						frappe.bold(comma_and([x.idx for x in invalid_advances])), frappe.bold(_("Advance Payments"))
+					)
+				)
+
 			pos_check_field = "is_pos" if self.doctype == "Sales Invoice" else "is_paid"
 			if cint(self.allocate_advances_automatically) and not cint(self.get(pos_check_field)):
 				self.set_advances()