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andrew.hines
Level 1

Customers want 10% holdback shown on each progression invoice and than a final invoice for the total of the holdbacks. How can I apply and track in Quickbooks?

 
1 Comment 1
AddieC
QuickBooks Team

Customers want 10% holdback shown on each progression invoice and than a final invoice for the total of the holdbacks. How can I apply and track in Quickbooks?

Hello, 

 

Progress invoicing lets you split an estimate into as many invoices as you need. Instead of asking for full payment at the beginning of a project, you can invoice customers for partial payments. As you complete work, add items from the initial estimate to progress invoices. This keeps project payments organized and connected from start to finish.

 

Here's more information about progress invoicing in QBO: Set up and send progress invoices in QuickBooks Online.

 

The amount charged for each progression will be up to you. If you want to withhold 10% from each invoice, you'll have to do this calculation manually in order to figure out how much you want to invoice each time. If your customer would like their final invoice to reflect the holdback amounts, this will simply reflect the remaining balance. You can write in the Memo field if your customer wishes to see this description reflected on their invoice.


If you have any other questions about this, please reach out to our tech support team.

 

Cheers. 

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