| Author |
Message |
P.F.
Guest
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 Posted:
Wed Oct 19, 2005 8:04 am Post subject:
how to record a deposit on services |
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Okay, I will try and make this brief. I run a small Web design/hosting
business. When I contract a web design job, I require a 50% deposit.
For starter I would "Receive a Payment" but since there is no invoice yet
generated it is applied as a credit.
I group the payment in "undeposited funds" then deposit the check with
others in the bank. This of course enters a deposit line into the registry.
After job is complete, I create a multi-line invoice listing the services
rendered. Each type of service is of course defined in my ITEM list. An
Example of the line items:
Domain Registration .... yourpage.com ...$75.00
Web Page design....... Home Page ....... $250.00
Web Page design...... .About us Page ..... $250
Web Page design...... Contact Us Page .... $250.
On the bottom line, I wish to apply a line that shows the credit and reduces
the amount due by the amount of the deposit.
Here is the problem: How should I do it correctly?? I have entered an
ITEM from the item list defined as a PAYMENT but when I use this method, it
wants to again make an entry into undeposited funds OR into the registry for
the amount of the line item.
Since I already did this before the job, it doesn't make sense to ahve yet
anotehr entry. How can I show that the credit is applied on the invoice?
Should I NOT add a line item, create an invoice without the deposit, and
just include a statment that shows the credit with the invoice?
Thanks!
Paul
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Guest
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| Posted:
Wed Oct 19, 2005 8:04 am Post subject:
Re: how to record a deposit on services |
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After you create your invoice, send the customer a "Statement" rather than
in Invoice. You create a statement in a very similar manner to creating an
invoice, just choose "Create Statements" on the Customer menu. Assuming you
entered your initial deposit and created the invoice properly, it will show
the payment received, the invoice charges and net down to the amount still
owed by the customer. If you don't like the word "Statement" at the top of
that form, you can edit the form and replace it with the word "Invoice" so
there's no confusion that you're sending a bill (i.e., an invoice).
"P.F." <paul@orion-ics.com> wrote in message
news:1129693273.11c546d01f3de6856aa3d32190f14198@teranews...
| Quote: | Okay, I will try and make this brief. I run a small Web design/hosting
business. When I contract a web design job, I require a 50% deposit.
For starter I would "Receive a Payment" but since there is no invoice yet
generated it is applied as a credit.
I group the payment in "undeposited funds" then deposit the check with
others in the bank. This of course enters a deposit line into the
registry.
After job is complete, I create a multi-line invoice listing the services
rendered. Each type of service is of course defined in my ITEM list. An
Example of the line items:
Domain Registration .... yourpage.com ...$75.00
Web Page design....... Home Page ....... $250.00
Web Page design...... .About us Page ..... $250
Web Page design...... Contact Us Page .... $250.
On the bottom line, I wish to apply a line that shows the credit and
reduces
the amount due by the amount of the deposit.
Here is the problem: How should I do it correctly?? I have entered an
ITEM from the item list defined as a PAYMENT but when I use this method,
it
wants to again make an entry into undeposited funds OR into the registry
for
the amount of the line item.
Since I already did this before the job, it doesn't make sense to ahve yet
anotehr entry. How can I show that the credit is applied on the invoice?
Should I NOT add a line item, create an invoice without the deposit, and
just include a statment that shows the credit with the invoice?
Thanks!
Paul
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N Owen
Guest
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| Posted:
Wed Oct 19, 2005 3:57 pm Post subject:
Re: how to record a deposit on services |
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You can also go you "Receive Payments", apply that credit to that invoice.
Then go back & print the invoice. The partial payment will be reflected at
the bottom of the invoice in the "Total due" Line box and the correct
balance due will show.
On Tue, 18 Oct 2005 23:40:53 -0400, "P.F." <paul@orion-ics.com> wrote:
| Quote: | Okay, I will try and make this brief. I run a small Web design/hosting
business. When I contract a web design job, I require a 50% deposit.
For starter I would "Receive a Payment" but since there is no invoice yet
generated it is applied as a credit.
I group the payment in "undeposited funds" then deposit the check with
others in the bank. This of course enters a deposit line into the registry.
After job is complete, I create a multi-line invoice listing the services
rendered. Each type of service is of course defined in my ITEM list. An
Example of the line items:
Domain Registration .... yourpage.com ...$75.00
Web Page design....... Home Page ....... $250.00
Web Page design...... .About us Page ..... $250
Web Page design...... Contact Us Page .... $250.
On the bottom line, I wish to apply a line that shows the credit and reduces
the amount due by the amount of the deposit.
Here is the problem: How should I do it correctly?? I have entered an
ITEM from the item list defined as a PAYMENT but when I use this method, it
wants to again make an entry into undeposited funds OR into the registry for
the amount of the line item.
Since I already did this before the job, it doesn't make sense to ahve yet
anotehr entry. How can I show that the credit is applied on the invoice?
Should I NOT add a line item, create an invoice without the deposit, and
just include a statment that shows the credit with the invoice?
Thanks!
Paul
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P.F.
Guest
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| Posted:
Wed Oct 19, 2005 4:02 pm Post subject:
Re: how to record a deposit on services |
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Okay. both ideas sound very understandable and reasonable. Thank you so
much!!
"N Owen" <nowen52@evONE.net> wrote in message
news:43562550.177139687@news.ev1.net...
| Quote: | You can also go you "Receive Payments", apply that credit to that invoice.
Then go back & print the invoice. The partial payment will be reflected at
the bottom of the invoice in the "Total due" Line box and the correct
balance due will show.
On Tue, 18 Oct 2005 23:40:53 -0400, "P.F." <paul@orion-ics.com> wrote:
Okay, I will try and make this brief. I run a small Web design/hosting
business. When I contract a web design job, I require a 50% deposit.
For starter I would "Receive a Payment" but since there is no invoice yet
generated it is applied as a credit.
I group the payment in "undeposited funds" then deposit the check with
others in the bank. This of course enters a deposit line into the
registry.
After job is complete, I create a multi-line invoice listing the services
rendered. Each type of service is of course defined in my ITEM list. An
Example of the line items:
Domain Registration .... yourpage.com ...$75.00
Web Page design....... Home Page ....... $250.00
Web Page design...... .About us Page ..... $250
Web Page design...... Contact Us Page .... $250.
On the bottom line, I wish to apply a line that shows the credit and
reduces
the amount due by the amount of the deposit.
Here is the problem: How should I do it correctly?? I have entered an
ITEM from the item list defined as a PAYMENT but when I use this method,
it
wants to again make an entry into undeposited funds OR into the registry
for
the amount of the line item.
Since I already did this before the job, it doesn't make sense to ahve
yet
anotehr entry. How can I show that the credit is applied on the invoice?
Should I NOT add a line item, create an invoice without the deposit, and
just include a statment that shows the credit with the invoice?
Thanks!
Paul
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Allan Martin
Guest
|
| Posted:
Wed Oct 19, 2005 4:02 pm Post subject:
Re: how to record a deposit on services |
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"P.F." <paul@orion-ics.com> wrote in message
news:1129693273.11c546d01f3de6856aa3d32190f14198@teranews...
| Quote: | Okay, I will try and make this brief. I run a small Web design/hosting
business. When I contract a web design job, I require a 50% deposit.
For starter I would "Receive a Payment" but since there is no invoice yet
generated it is applied as a credit.
I group the payment in "undeposited funds" then deposit the check with
others in the bank. This of course enters a deposit line into the
registry.
After job is complete, I create a multi-line invoice listing the services
rendered. Each type of service is of course defined in my ITEM list. An
Example of the line items:
Domain Registration .... yourpage.com ...$75.00
Web Page design....... Home Page ....... $250.00
Web Page design...... .About us Page ..... $250
Web Page design...... Contact Us Page .... $250.
On the bottom line, I wish to apply a line that shows the credit and
reduces
the amount due by the amount of the deposit.
Here is the problem: How should I do it correctly?? I have entered an
ITEM from the item list defined as a PAYMENT but when I use this method,
it
wants to again make an entry into undeposited funds OR into the registry
for
the amount of the line item.
Since I already did this before the job, it doesn't make sense to ahve yet
anotehr entry. How can I show that the credit is applied on the invoice?
Should I NOT add a line item, create an invoice without the deposit, and
just include a statment that shows the credit with the invoice?
|
It really all up to you. I would simply modify my invoice by adding another
field called "Prepayments" and have it prominently displayed in the footer
section.
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