We occasionally sell products using a 60 month payment plan. We don't charge interest. What is the best way to set this up in QB Desktop so that I can effectively track the AR over time? I don't need to use QB to send invoices to these customers as the invoicing process is already set up and working. Thanks in advance for your insights.
If you create one Invoice for the sale, QBs only let's you set one payment due date.
What I would have done is create an Estimate for the full amount to give the customer. Then I would set up a Invoice for the first Month's payment and set it up as a Memorized transaction that automatically generates each month for the remaining 59 months. That way, each payment has it's own due date and will show up correctly in the A/R aging reporting. It's up to you whether you send out these monthly invoices or not to the customer.