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Changes in the scope of work are common scenarios when managing or delivering services to your customers, Lisa. No worries, I'm here to ensure you can update your estimates to reflect the changes in the range of work. I'll also share some information you need about applying credit to your Purchase Orders and Estimates.
Generally, credit memos is only be applied to an invoice, which is a customer-related posting entry. Since estimates are classified as non-posting and purchase orders are vendor-related, assigning credits for these transactions isn't attainable. In this case, you'll need to manually edit the estimates and update the information to include the changes in the scope of the work.
I'll show you how:
- Go to Sales, then Estimates.
- Find the estimate in question and hit Edit.
- Update the necessary information.
- Once done, click Save and close.
Additionally, if you have received advance payments from customers before starting any services, you can record these payments as retainers or deposits. This method helps track the funds received and ensures that your financial records reflect the nature of the transaction accurately. Recording advance payments as retainers allows you to manage customer expectations and maintain clear communication regarding the services. This resource will help you navigate the process effectively, ensuring your accounting and customer relations are well-managed: Record a retainer or deposit.
Finally, if your customer is also your vendor, you'll need to create a separate and distinct transaction to handle this situation. Clear separation between customer and vendor transactions is essential to ensure accurate accounting and avoid any potential confusion or mixing of funds.
I appreciate your willingness to tackle these adjustments, and I’m here to provide any support you need throughout this process, Lisa. If you have further questions or require additional assistance, share them with me in the comments below. Together, we can ensure your operations run efficiently and your customer relationships remain strong. Thank you for your attention, and I look forward to helping you achieve your goals.
