Deposit Link Invoice For Free

Accounting for a Customer Deposit The company receiving a customer deposit initially records the deposit as a liability. Once the company performs under its contract with the customer, it debits the liability account to eliminate the liability, and credits a revenue account to record the sale.

Option 2. Invoice customers for deposits or retainers Select + New. Select Invoice. Select the Customer name from the dropdown list. In the Product/Service column, select the Retainer or Deposit item you set up. Enter the amount received for the retainer or deposit in the Rate or Amount column. Select Save and close.

If your business decides to request a deposit from a customer, you'll need to record this on your invoices correctly. You'll need to issue an initial invoice that only includes the deposit, as well as an invoice with the remaining balance due.

Open the customer invoice. In the Detail section, on the next available line, select the Upfront Deposit item you created from the Item drop-down list. Enter the amount of deposit to be applied to the invoice in the Amount column. Select Save and close.

Link a deposit to an item From the Banking menu, select Make Deposits. If the Payments to Deposit window appears, select OK. In the Make Deposits window, select the Received from the drop-down and choose the vendor who sent you the refund. In the From Account drop-down, select the appropriate Accounts Payable account.

Any time you're requesting money from another business, including a deposit, you should issue an invoice.

Apply the deposit entry as an invoice payment Select + New. Select Receive payment. From the Customer ? dropdown, select the customer's name.In the Payment date field, enter the day you received the payment. In the Outstanding Transactions section, select the invoice you need to mark as paid.