What are the steps in QB to record a check received from a customer to prepay for services that will be invoiced over several months.
We will receive a check for the entire amount, deposit that to our checking account.
Then as we provide services, we will prepare an invoice showing the detailed charges. Then I will show the invoice "paid" using part of the prepaid check, and show the customer their balance of the prepaid account.
I need to make sure we show the initial check received as a liability until we actually provide the service.