Solved

My project lead used a cash payment to purchase materials for a job. How to I document the full payment by the customer with the partial deposit?

2 replies
0 views

Original commenter did not share additional details

QuickBooks Online

RustlerAnswer

@a-r-case22

not sure what question intuit was answering, but it sure was not this one.

Receive payment from the customer in QB in full

then use make deposits, select the bank account and enter the full amount

on the next line select the expense account(s) for the materials and enter the amount paid for the expense as a negative number

save the deposit

AlexV

Let me help you in recording the payment, a-r-case22.

If you recorded an invoice, you can also record a payment and let's deposit it first into your Undeposited Funds. That way, we can deduct the expense for materials purchased by your project lead when you deposit it to the right account. Please refer to this article on how to record invoice payments in QuickBooks Online.

When doing a bank deposit, let's add a negative amount for the purchased materials and make sure to post it to an expense account. You can follow these steps:

From the +New button, click on Bank Deposit.
Locate the payment and check it.
From the Add funds to this deposit section, select an expense account on the Account column.
Enter the amount as a negative (ex. -100). Then, click Save and close.

You can also read this guide if you need to enter billable expenses.

Comment again if you have more questions. Have a wonderful day!