Deposits and invoicing

Hello Stewart Magrath, 

Welcome to the Community page, 

So you would need to set up a product and service for the actual deposits and one in the chart of accounts, then in the service name you can manually enter in when its to be paid and then you can also put on the service date or use custom boxes or date of pick up but the issue is you are now unable to import a invoice to match want you want you have to use what Quickbooks has. 

so when you click on + new> invoices>  cog wheel top right>custom fields> can add the 3 fields  you require so collection date/reference number/ balance due for example and then the boxes will appear on the invoice for you in the top middle section. You will need the boxes to be switched on to have it on the actual invoice.  

Hope that helps you 

Thanks for the reply.

Does that mean that once I've agreed the total price with the client, I create an invoice, add 2 lines - one for the manually calculated deposit, the other for the manually calculated balance?

Or perhaps I misunderstood?

Regards,

Stewart.

I know a way to add the details on the invoice, Stewart Magrath.

To start, let's turn on the Deposit button to add the field in the Invoice window. This way, we'll be able to see the deposit due in the transaction. I'll show you how.

1. Go to the Gear icon and then select Account and Settings.
2. Select the Sales tab.
3. On the Sales form content, click the pencil icon.
4. Turn on the Deposit button.
   
5. Click Save then Done.

After that, we can now create an invoice and add the details needed.

1. Go to the + New menu and then select Invoice.
2. Choose the name of the client.
3. On the Due date field, select the date for collection.
4. Choose the product/service, then add the description under the Description column.
5. On the Amount column, add the agreed price.
6. On the Deposit field, enter the first deposit paid by your client.
7. The balance that will be due on the next collection shows on the Balance due column.
8. Once done, click on Save and Send or Save and close.

For your visual reference, I've attached a screenshot below.

Additionally, I encourage personalising your invoice template in QuickBooks Online. This helps you add the details that matter most to your business. 

I'm only a post away if you need more help in recording and managing sales transactions in QuickBooks, @Stewart Magrath.  It's always my pleasure to help you out again.

Thanks very much, Charlene.

All was hopeful until you wrote "On the Deposit field, enter the first deposit paid by your client"

At this stage the client hasn't paid a deposit. The deposit amout will have been agreed over texts, but I need an invoice to show all you've described and that the deposit is yet to be paid - not that it has been paid.

Regards

Stewart.

I'm here to share another option you can use to record your deposit considering your invoicing method, @Stewart Magrath.

Since the deposit on the invoice is not yet paid, let's consider creating a progress invoice instead. Based on how you describe the transaction and how it is done, an estimate will serve as the deposit entry with the amount you've agreed with your client.

The estimate will then be converted to an invoice once your client is ready to make the payment, Therefore, I've got you this article to learn more about how this feature works: Set up and Send Progress Invoices in QuickBooks Online.

I'm also adding this reference with the tips and topics you can utilise while working with your sales transactions and managing your client's activity: Sales and Customers in QuickBooks Online.

Let us know in the comments if you've got other concerns aside from QuickBooks invoicing. The Community space is always available and ready to assist you. Have a good one!

Thanks for you help Jonpril,

Sadly the estimate process has 2 key flaws:

First, clients will not understand why it's an estimate rather than a firm price.

Second, the estimate does not show a deposit, so clients will have no idea what deposit to pay.

The only way around the deposit is to manually calculate the deposit and have 2 lines of services, one for the deposit and another for the balance - this is manual, error prone and potentially confusing to clients. 

Regards

Stewart.

For some reason I cannot customize the Deposit line to say Deposit Paid. 

Feedback: Why can't this be set up like the old Desktop version where I would write the estimate, create an estimate for 50% and then when I came back to invoice for the final amount, I simply created another invoice for the remaining balance. You guys are really just making this too complicated. 

The QuickBooks Community forum welcomes you as one of its newest members, Rob. We're thrilled to have you join our vibrant forum, where small business owners and product experts collaborate to share knowledge, ask questions, and provide valuable insights. As one of our newest members, your participation is appreciated. I'm here to shed some light on this matter, but first, I'll ask clarifying questions.

To begin, may I know the specifics of the feedback you mentioned? Are you considering the option of dividing the estimate into multiple invoices? If so, you'll need to activate the progress invoicing feature. This functionality allows you to request partial payments from your customers. By enabling progress invoicing, you can break down the total amount due into smaller or percentages, making it easier for your customers to pay over time. I'll show you how you can enable this option:

1. Go to Settings and select Account and settings.
   
   
2. Choose the Sales tab. 
3. In the Progress Invoicing section, hit the Pencil icon.
   
   
4. Turn on the Create multiple partial invoices from a single estimate switch.
5. From the Update your invoice template? window, and click Update.
6. Select Save, then Done.
   
    

Once you've completed the initial steps, you can create multiple invoices from your estimates. For more information, refer to this article: Set up and send progress invoices in QuickBooks Online.

Alternatively, if the deposit hasn't been made yet and you don't want to use progress invoicing, I encourage following emman6 recommendation above to create an invoice with multiple lines. This method can help streamline the invoicing process and keep things organized.

Additionally, customizing the Deposit line to show as Deposit Paid isn't available. Moreover, I understand the benefits of having this option within the program. In line with this, I suggest you submit your idea for this functionality directly to our Product Development Team. Your feedback is valuable as it helps us identify and address any challenges you might be facing, enhances our products, and guides our development efforts to provide the best possible experience for all our customers.
 

Here's how: 

1. Locate the Gear icon.
2. Under Profile, choose Feedback.
3. Enter your feedback suggestion.
4. Hit the Next button.
   

Remember, Rob, the QuickBooks Community is not just a place to find answers; it's also a platform for sharing your experiences, insights, and best practices. We value your contributions and look forward to learning from you as well.