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Silver line
May 15, 2022
Question

Customer prepayment

  • May 15, 2022
  • 1 reply
  • 0 views

Hi, 

I have setup an other current liability account to record my customers’ prepayment and created an item for prepayment. The item prepayment links to other current liability account. When customers have prepayment, I post the transaction on sale’s receipt. So I do have a lot of customer names on the customer list.

We are doing whole sale business, mainly seafood, grocery and fruit. The problem comes from customers using their prepaid card to pay all those stuff. Also we have to manually input everything into invoice. 
Is there any other way to reflect customers spending their prepayment on QuickBooks? 

1 reply

J
JamesM4
May 16, 2022

Hi Silver line,

 

Welcome to the Community. QuickBooks is a powerful program that helps you manage your work with peace of mind. I'll be glad to steer you in the right direction with this.

 

Making sure you're recording your transactions properly is an essential step for maintaining clean books. To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on this. If you're not in contact with a professional, don't worry, you can search for one using this link here. 

 

I'll also leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back.

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numbrcrcnchr
August 4, 2024

JamesM4-you work at Intuit and you don't know? You reply was less than helpful. Colnsidering the cost of the product, don't you think the customer deserves more than to be left at sea? If you're the vanguard of what we can expect the future to be at Intuit, all of the customers are in big trouble.  Take the time you need to find the answer JamesM4, and reply to your customer with the correct answer. Personally, I would creat a liability account and record each payment with the name , item, date and amount of each payment any customer made.

T
Trish_T
August 5, 2024

Hi numbrcrcnchr,

 

QuickBooks Desktop provides the ability to record customer prepayments seamlessly.  Click here, to learn how to receive customer prepayments.

 

Should you require additional assistance, please don't hesitate to contact us. Your success is our number one priority and we would be happy to help!

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