How can I receive a payment from a customer and create an invoice at a later date?

AYS Books · ‎April 27, 2019

One of my bookkeeping clients uses Quickbooks Enterprise and wants to record deposits received by their customers but does not want the invoice created until a later date when the actual work is completed. I only found one explanation of how to do this and it said to set up a liability account for the deposits received. Is that the ONLY way to record this? I was hoping for a much easier process for the office staff to follow.

Rustler · ‎April 28, 2019

Assuming the deposit is refundable

you can use make deposits, select the customer name and accounts receivable for the source account for the deposit and enter the amount

that will set a customer credit

In terms of an audit trail though, using an item that posts to the liability account for customer deposits on a sales receipt is better practice

then you just use that item on a final invoice with a negative qty of one and the amount

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How can I receive a payment from a customer and create an invoice at a later date?

How can I receive a payment from a customer and create an invoice at a later date?

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