I'm happy to help, usermarrettalatimer.
You can set up a retainer process for your company in QuickBooks Online. This will be treated as a liability to show that, although your business is holding the money from a deposit or retainer, it doesn't belong to you until it's used to pay for services. First, you need to create a liability account to track the amount of the retainers you receive from your customers. Second, create a retainer item. The retainer item can now be selected when creating an invoice or sales receipt for a deposit or retainer payment.
Once done, let's now create a trust liability bank account.
After that, create a deposit to record a single payment. Other detailed steps are also provided in these article: Record a retainer or deposit.
If you have any other questions, feel free to post here at any time. Thank you and have a lovely evening.
I have a simillar issue. We are a nonprofit using QB Enterprise looking for a simpler way to collect, track and reconcile member dues to each member's account and our bank. We have over 7,000 members. How do we do this within QB and/or suggested partner apps that may help such as bill.com's AR and SalesForce with our need.
Hi there, @Tim1448.
Let me share some information so you'll be able to search related posts in the Community.
Community is the only forum where you can post your concerns, feedback, or questions. Please know that helping customers is our main goal.
Meanwhile, you can visit our QuickBooks Desktop App center. From here, you can select from the list of supported third-party application that offers the same features with what you're using before.
Also, you can search for related articles whenever you have issues with QuickBooks Articles: Help article.
Let me know if you have other questions. I'm always here to help.