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vrgsy
February 9, 2020
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How do I add a deposit to the invoice to be included in the price?

  • February 9, 2020
  • 1 reply
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Original commenter did not share additional details
Best answer by Ashleigh1

Hello Vrgsy, 

 

If you got to the cog wheel>account and setting>sales>sales form content>turn deposit on> save and then done. Go to the plus and invoice, create the invoice and it has a deposit box which you can put in and this will show as included in the full amount and will show the rest as balance due, so when they have paid it you and click receive payment for the rest of the amount that is due to be paid. 

Within the invoice you can allocate the deposit proportion you received to the bank account that it was received to.

1 reply

Kristine Mae
Kristine Mae
February 9, 2020

It looks like this is a payment towards the invoice, Vrgsy.

 

Once you apply the deposit, it will deduct from the price or total amount.

 

I'll guide you on how to link the deposit to the invoice:

  1. Click the New or Plus sign (+) icon.
  2. Select Bank deposit.
  3. Under Add funds to this deposit, select the customer, then add the amount.
  4. Select Accounts Receivable (A/R) under the ACCOUNT column, then click Save and close.
  5. Open the invoice, then click Receive payment.
  6. Under Credits, select the deposit.
  7. Click Save and close. 

Once the customer is ready to pay the remaining invoice amount, you can record the payment. 

 

Although, if you're trying to add an amount to the invoice, you can open the transaction instead. Then, add more items or services so it'll be included in the final price.

 

Please get back to us if any questions arises. We're right here to help you. 

paul72
paul72
February 10, 2020
@Kristine Mae wrote:

 

Although, if you're trying to add an amount to the invoice, you can open the transaction instead. Then, add more items or services so it'll be included in the final price.

Hi @vrgsy 

If you wish to have the deposit on the invoice you will have to be careful how you account for it.  You cannot simply enter it as a negative sale because that will reduce your sales for tax (& VAT) purposes.  It will also leave the customer with a confusing invoice.

 

QBO doesn't have a built-in Deposit item (I'm sure QB Desktop did) so you will have to create one - but it is not straightforward because instead of the line being booked to Sales (or other sales account) it should be booked to Accounts Receivable.

 

Personally, I would enter the invoice at full value but with a message saying 'Deposit Received £##, Balance Due = £##).  Enter the Deposit as a partial payment against the invoice & enter the final payment when it arrives.

 

Hope this helps.

A
Ashleigh1Answer
February 10, 2020

Hello Vrgsy, 

 

If you got to the cog wheel>account and setting>sales>sales form content>turn deposit on> save and then done. Go to the plus and invoice, create the invoice and it has a deposit box which you can put in and this will show as included in the full amount and will show the rest as balance due, so when they have paid it you and click receive payment for the rest of the amount that is due to be paid. 

Within the invoice you can allocate the deposit proportion you received to the bank account that it was received to.

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