customer prepayment

Forum|Forum|7 years ago
November 3, 2018
1 reply
2 views

a customer wants to prepay online but there is no outstanding invoice. what is the best way to allow him to prepay?

QuickBooks Online

john-pero

Level 12

Have him send you money through PayPal

MaryBethPAuthor

it's a customer of a QBO client. My question was if the customer wants to pay online, like he regularly pays his invoices ( but he wants to prepay for future invoices), besides setting up a fake invoice in QBO and then deleting it, or I guess postdating the invoice, is there another option?

JimPost

Hello there, JimPost.

Thanks for getting back. I want this to be taken care of and help you handle customer prepayment in QuickBooks Online (QBO).

I have one quick way to directly post the deposit as a credit to the customer. You'll just need to change the Other Current Liabilities to Accounts Receivable.

When you create a Bank Deposit, you use the Accounts Receivable with the name of customer and then you can apply this to the invoice through Receive Payment.

That should keep you on the right track. Let me know if you have follow-up questions about customer prepayments and I'd be glad to clear things up for you.

Thank you Chaires_M.

Unfortunately, what I need is the step following what Rasa-LilaM describes above. The Prepayment needs to show up in the Liability Account to offset the asset of the Deposit into the bank account. So my question is, once I have followed the step shown by Rasa-LilaM how do I utilize the Prepayment? That is, how do I pay the invoice from the Prepayment account?

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