Multiple due dates on one invoice


I know how to add the due date field to an invoice. However, my invoices
are for condo rentals. 30% is due within 14 days of booking and the balance
70% is due 30 days prior to arrival. I certainly do not mind calculating
the dates manually and typing them in. The objective is not billing but the
accounts receivable aging report. Some rentals are innitiated a full year
before they occur. If I show the entire amount as due within 14 days then
the 70% that is due 30 days out will show up as overdue for almost a year
when it really is not. If I make the due date the 30 days out then the
initial deposit that is required will never show up as overdue.
Thanks, Will
Reply to
Will Fleenor
It's not ideal but, you have any other ideas? It would be really nice if QuickBooks handled installment payments.
-Elw00de
Reply to
elw00d
Doesn't progress invoicing essentially do that by allowing you to convert over parts of an estimate into individual and yet related invoices that represent parts of the whole estimate?
-Elw00de
Reply to
elw00d
Yup, just love the principles of stupid tenants, and the principal tenets of simple landlords.
Reply to
!-!
Sigh...
It's not an estimate.
It's an invoice.
Why on god's good green earth would you want to take the process of entering two invoices (which is really what the OP should be doing.. as he has two separate billable charges, the deposit and the balance of the rental) and change that process into creating an estimate for each customer and THEN separately creating two progress invoices? What purpose would it serve to add an extra layer to the process?
There are a number of ways the OP could proceed. KISS method says make two invoices at the time of the rental -- but if the OP is renting out more than a year in advance that may not be his BEST option. However, considering he is currently sending a single invoice for the whole shebang, perhaps he has a company that uses cash basis accounting. In any case, two invoices will record the sale date the same as he does currently, and the due dates can also be properly assigned.
Reply to
L
Ok, so my thoughts on this are as follows:
Let me admit a few biases: 1. I like things that are tied together - progress invoicing accomplishes this. 2. I like something to represent the entire sale like, ...an "estimate" for example. RE: the 'extra layer' of work ... *really* it's not that much extra work. Are we talking about 2 line items here?
If you started off with an estimate, depending on what line items you actually put on it, you could easily create an invoice for either the prepayment line item or just for the first 30% of the "estimate" and set the term on it, and 'save and new' and then easily create the 2nd invoice for the remaining line item -or- the remaining 70% from the same estimate, on the same date and then 'save and close'.
I like KISS. Not only is it a good approach to bookkeeping and life, they were also a pretty good rock band, with or without makeup. Does that make any sense or did I just fall out of the crazy tree and hit every branch on the way down?
-Elw00de
Reply to
elw00d
At least you didn't hurt yourself in the fall. Creating two invoices one numbered for example: 100A and the other 100B accomplishes the same thing and does not disturb the laws of KISS.
Reply to
Allan Martin
Ok, fair enough. Numbering schemes for the invoices are ok and you can find them via FIND or at least it's readily apparent on a quickreport what belongs to what -but- I've seen a lot of people screw it up. I still believe that creating 2 seperate invoices is still more of a pain than creating a single estimate and then having it auto create invoice # 1 & 2. My preference is still to start with an estimate and then 'progress' the 2 seperate invoices from that, for the reasons I outlined in my previous post.
Easier? Harder? I don't know ...I give. Try both methods and see which one makes your life easier a few months down the road. That's my last 2 cents on it.
-Elw00de .
Reply to
elw00d
There really is no right or wrong here. It boils down to a matter of individual preference. The real problem I have seen is that once a business procedure is implimented it usually stays implimented even when a better method comes along or the reason for its use is no longer required. Hell I have seen lenthly manual reports being created on a weekly basis even thought the only person that ever read the report had retired from the businees years ago.
Reply to
Allan Martin

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