Skip to main content
K
Ksimmons 12
April 11, 2024
Question

Customer Deposit

  • April 11, 2024
  • 1 reply
  • 0 views

I sent an estimate to a customer with deposit money due. A week later the job was starting with additional money due and an invoice was sent to, and paid by the customer before I received the deposit check in the mail. Now with a balance owed, that includes the original deposit, how do I record the deposit amount on their original estimate that was sent? Please note, I am using progressive invoicing for this job. Thanks 

1 reply

M
MelroseV
April 11, 2024

Hello there, Ksimmons.

 

The deposit amount won't be allocated to the estimate since it's considered a non-posting type of transaction. Please know that when customers submit the deposit, QuickBooks automatically updates the status of each estimate to Accepted, and then converts it into an invoice. It also registers the customer's deposit as a partial payment for the new invoice.

 

This indicates that all prior, current, and future payments will applied to the invoice. Additionally, the estimate will be automatically closed since the customer has accepted it and it has been converted into an invoice.

 

Additionally, I'll include this article for recording the invoice payments of your customers: Record invoice payments in QuickBooks Online.

 

Should you have other concerns regarding the estimate, please post them here in the Community space.

K
Ksimmons 12Author
April 11, 2024

Thanks for your reply. So what should I do now? I have the original estimate that is showing accepted and I also have an invoice for off that estimate. Should I be converting the estimate to an invoice and applying the deposit money to that? It seems logical however I don’t want that to prompt sending another invoice for the remaining balance as that is not due yet. Thanks again 

D
DebSheenD
April 11, 2024

Thank you for getting back to us, @ksimmons11.

 

Allow me to step in and share some information about accepted estimates and invoices in QuickBooks Online (QBO).

 

You can record the deposit you received as a bank deposit affecting Accounts Receivable (AR). This way, you can make it as a credit to apply to an invoice for the remaining balance to avoid overpayment.


For future reference, read through these articles to get more insights about managing your invoices in QBO:

 

Don't hesitate to leave a comment below if you need help managing sales transactions. I'm always here to help.

Terms & ConditionsAccessibility statement