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df90210
January 17, 2021
Question

count Sales Income against a future month

  • January 17, 2021
  • 1 reply
  • 0 views

Hi all,

 

I run a vacation rental business, and we just got a reservation now (in January) for a guest stay in August. Per our terms, the guests have deposited 50% upfront, and that cash is now in my account. I'd like to count that as Sales Income for August though, instead of it appearing as January revenue.

 

Any suggestions?

 

1 reply

LeithG
LeithG
January 18, 2021

Hi df90210:

 

Sure! Instead of recording the deposit as revenue, record it as an accounts payable or other short term liability to your client.  Or, you can even record it as a 'credit memo' against the client account so that when the eventual 'invoice' comes due, it's automatically diminished against the bill at that point (New-> Credit Memo to enter it that way).

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df90210Author
January 18, 2021

That's helpful, thank you. Although, I'm not issuing invoices via Quickbooks. The cash deposits are made automatically to my chequing account via my rental booking site. So now this cash deposit transaction is sitting here, and I'm not sure what to call it (see screenshot attached).

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df90210Author
January 18, 2021

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