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how to record a deposit on services

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

Reply to
P.F.
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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).

Reply to
<gcollect1

Reply to
N Owen

Okay. both ideas sound very understandable and reasonable. Thank you so much!!

Reply to
P.F.

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.

Reply to
Allan Martin

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