We received a deposit (including tax) on December 2023 and we want to record the sales invoice of that transaction on January 2024. Is there a feature to support this?

Hi there, Kim. We'll provide more details to help you handle the deposit you received from the previous year and record the sales invoice of the transaction on the present year inside QuickBooks Online (QBO).

In QBO, you can record this as a retainer or deposit and then create an invoice to track it inside your company file. We'll write down the steps below:

1. Access your QuickBooks Online company.
2. On the top right corner, click the Gear icon and select Chart of accounts.
3. Click New and then from the Account Type ▼ dropdown menu, select Current liabilities.
4. From the Detail Type ▼ dropdown menu, select Client Trust Accounts - Liabilities.
5. Enter a Name for the account (for example, Trust Liabilities) or accept the suggested name.
6. Select a Default Tax Code, enter an Unpaid balance, and an as of date.
7. Once done, click Save and Close.

For further guidelines, feel free to visit this page: Record a retainer or deposit.

You can also contact your accountant so they can guide you on how to track a deposit from the previous year to the current year. If you don't have an accountant, we can help you find one. Feel free to check this link: Find a QuickBooks ProAdvisor.

If you're done reconciling your bank and closed the books for the previous year, we recommend reaching out to an accountant. This way, they can provide the best possible method to record this transaction inside QBO.

Moreover, here are some articles to help you manage bank deposits, and create personalised sales forms inside the program:

• Record and make bank deposits in QuickBooks Online
• Customise invoices, estimates, and sales receipts in QuickBooks Online

The Community team encourages you to comment below if you require further assistance recording transactions from the previous year. You can also post here again if you have any additional questions or need help performing specific tasks inside the program. We'll be around to lend a helping hand. Keep safe.