How to handle a vendor order that will be billed in 3 yearly installments??

Hello, klnst132. 

Thank you for reaching out to the Community and for the detailed information. I know setting a 3-year term net due in an invoice in QuickBooks Desktop can offer several advantages for your business. However, the option to input the terms into three years is not possible in QBDT. You'll need to modify each transaction manually and enter it yearly (1 year).  

It's important to note that longer payment terms can offer advantages, but they also come with potential risks, such as increased credit risk and possible cash flow constraints. It's crucial to assess the financial stability of your customers and monitor your cash flow closely to ensure that extended payment terms are viable for your business.

I can definitely see the value of having this feature. In the meantime, you may consider sending feedback to our product developers. Sending feedback to product engineers to contribute to the ongoing development and improvement of the software, ensuring that it better meets your needs and those of other users for future updates.

Here's how to send suggestions: 

1. Click Help, and select Send Feedback Online.
2. Choose Product Suggestion.
3. Enter all the information needed.
4. Hit Send Feedback.
    

You can also read this article to learn more about setting up terms in QuickBooks Desktop: Set up payment terms. 

I've also added this reference to guide you in receiving customer payments: Record invoice payment.

If you have any other questions or concerns about payment terms. The Community team is always here to assist you. Take care!

Thanks for your concerns, but this isn't our choice. This is a requirement by our long-term vendor for these specific orders.

Regardless, this doesn't fully answer my question. What do you mean I'll have to modify each transaction and enter it yearly? What do I do with my initial PO? IT HAS to be for the full cost of the order when I create it, though the invoices will not match. Are you saying I should adjust the cost of the PO to match the first invoice that comes in, and then when I get the subsequent invoices in year 2 and 3 I should maybe just enter them as bills instead of against a PO? Would that make sense?

I understand you require an additional feature that collects your installments in QuickBooks Dekstop, @klnst. Since this isn't possible within the software, I'll share a workaround for you.

We can use a third-party application that will handle installments and issue annual invoices. Furthermore, we have available applications that integrate and will do this function to QuickBooks Desktop.

Here's how:

1. Navigate to the Help menu.

2. Press the App Center: Find more business solutions.

3. Once the screen appears, find them in the Category or the Search tab.

You can also visit this link for additional references: QuickBooks Dekstop App Center.

Do you need further details about tracking payment for your invoice? Or do you want to make a personalized layout of your invoices? This article helps you do it:

• Record an invoice payment
• Use and customize form templates.

Please let me know if you need to create reports within your account. I'll guide you through the process. Have a pleasant day.