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9twentycreative
Level 1

Advance payment from client

Hi 

when invoicing a client i would like to invoice them for a 50% advance. how do i do this in Quickbooks online ? if i were to link the estimate created , should i create a subtotal and then a line item that is linked to an income account with a title that says " Project advance " ? if so which income account would this have to be linked to ? 

7 Comments 7
Malcolm Ziman
Level 10

Advance payment from client

An Estimate is a non-posting transaction so there is no point in putting a line item for the deposit, except to let the customer know that a deposit is required, but I would do that as a note, and not adjust the total amount. When they send the deposit, one way to record it, is to create a Receive Payment which puts a credit on the customer's account.  You should only create the invoice later, when good or services are delivered, at which time the income is created (on the accrual basis), and also the previous credit is applied, if you have the setting to automatically apply credits.

Ondrej nistor
Level 1

Advance payment from client

Cant you give to my ani advance a

I want to open anj biznis

Charies_M
Moderator

Advance payment from client

Hi there, Ondrej nistor.

 

I'd love to help you achieve your goal but would you mind telling me about it? 

 

I would appreciate any details you can share to help me better understand your concern and provide an accurate solution.

 

I'll keep an eye out for your response. Any additional information will do. Take care and have a good one!

Ondrej nistor
Level 1

Advance payment from client

You cant give to mi advance

JasroV
QuickBooks Team

Advance payment from client

Thanks for getting back to us, @Ondrej nistor.


I want to ensure I provided you with the right information and help you achieve your goal. Can you share with me more details about it? Additional information can help us narrow it down.

 

In case you need help managing your QuickBooks Online (QBO) account, you can always check your Help articles page. Just browse a topic for QBO and read it for reference.


Looking forward to your reply. Keep safe.

George Michael
Level 2

Advance payment from client

I am wondering how I can collect a mobilisation advance and later recover it from various invoices.

AlexV
QuickBooks Team

Advance payment from client

Hello George Michael!

 

Thanks for posting here. Let me share details on how to track a mobilisation advance.

 

The first thing we need to do is to create a liability account to track the deposit or advance payment you receive from your customers. Then, let's set up a retainer item which we'll use in recording the transaction and the affected income account should be the liability account you created. It'll be converted into income once we apply the advance payment to the invoice.

 

You can check the detailed steps here: Record a retainer or deposit.

 

Keep on posting here if you need anything else. We'll respond as soon as we can.