I run a travel and tourism business and I'm wondering what is the best way to use quotes and invoices?
Our customers book for a tour and pay a deposit up to 12 months in advance and then pay the balance of tour costs about 2 months before the tour.
Currently when they book I issue an invoice for the full tour costs, and record a partial payment when they pay their deposit. The problem with this is that I record the income on the date of the invoice which can be months and months before the actual tour operates and it can really skew P&L etc.
Would I be better to issue an invoice for the deposit only and a quote for the balance of the tour costs that I then convert to an invoice when the customer is due to pay?
Is there another option I am not aware of?
Thanks!
