Question asked by Ryan Davis 8 years ago
Hi I sent a quote to someone for a priced job. In order to start they needed to pay 50% deposit which they have done before I have had the chance to invoice. How would be the best way to record this? Should I now just convert my quote to invoice and put a part payment with balance outstanding or is there another way this should be done? Thanks in advance!
Hi again - yes, if you are going to create and send out the invoice then record the part payment against it.
In future however, if you get the payment upfront and there's going to be some time before sending out the invoice, you can use the Sales >Money in page to record the payment on account. This then sits on the Unallocated cash screen in the Money section and you can go there to allocate it against an invoice once it's created (or use the Allocate" button on the invoice screen).
Rather than use the Sales > Money in screen, if you are explaining the money in from a bank statement or from Bank > Money in, show it as received from the customer but put it to "Trade debtors" account. This too will stick it on the Unallocated cash screen.
You really are jumping in with both feet! :)
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