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Level 1

Selling an asset using a payment plan

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.

1 Comment 1
Level 4

Selling an asset using a payment plan

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.

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