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- Setting Sales and Customers Preferences
- Creating an Invoice
- Previewing Invoices
- Printing a Single Invoice
- Printing a Batch of Invoices
- Emailing an Invoice
- Charging Expenses to a Customer
- Setting Finance Charge Preferences
- Creating a Monthly Statement
- Setting Send Forms Preferences
- Tracking Accounts Receivable
- Receiving Payments for Invoices
- Issuing a Credit or Refund
- Receiving Cash
- Making Bank Deposits
- Receiving Advances, Retainers, and Down Payments
- Issuing Discounts
- Viewing the Open Invoices Report
- Creating a Collection Letter
- Recording Bad Debts
This chapter is from the book
This chapter is from the book
This chapter is from the book
This chapter is from the book
Receiving Advances, Retainers, and Down Payments
You might require that your customers or clients give you advance payments, retainers, layaway payments, or down payments on purchases of goods or services. If the payment you receive is a down payment on the purchase of goods, you can create an invoice for the goods and then record the payment as a partial payment for that invoice (see “Receiving Payments for Invoices,” earlier in this chapter). If you are taking an advance payment or a retainer for goods or services that have not yet been invoiced, the procedure for recording the payment is somewhat different, as shown in this task.
Select Banking, Make Deposits.
Indicate the account into which this money will be deposited.
Enter the date of the deposit.
Enter the name of the customer and, if applicable, the job related to this deposit.
Enter the account in which the deposit will be recorded. Typically this is a current liability account, not an income account.
Enter an optional memo.
Enter optional information about the method of payment.
Enter the amount of the deposit.
Click Print to print a deposit slip or deposit summary.
Save the deposit.
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