Create a customer deposits product and add it to the sales order twice with one having the positive value of the deposit scheduled and the other have the negative value backordered. Invoice the scheduled line and then schedule the backordered after.
Some companies receive deposits from their customers before they will process an order. In many cases, this deposit can be received directly into QuickBooks, then after creating an invoice in Acctivate and syncing it, the payment can be applied in QuickBooks to the invoice. However, some Acctivate users need to be able to receive a deposit in Acctivate for a particular order and see what the balance of the order is after the payment. The following configuration will allow you to send deposit payments to QuickBooks from Acctivate while also being able to see the balance of a particular order or job.
Steps to Track Customer Deposits:
- In QuickBooks, create a new GL account with the account type of Other Current Liability since these will be deposits that have not been applied to a particular invoice yet.
- After a sync, you can create a new Product Class in Acctivate. This product class will use the Customer Deposit GL account we just created.
- Next create the product for this Deposit. The item type should be Other Charge and the Product Class should be the one just created (In this case "Customer Deposits"). You'll also want to ensure that the cost method is set to None. The tax code will be your non taxable tax code.
- Create the sales order for the items. At the end of the sales order add your deposit item for the amount of the customer's deposit. Add the deposit again with a negative deposit amount. Set the scheduled quantity to be "0" for all the items except the deposit item. Our first invoice should only include the positive amount deposit item.
- Next, you will click Create Invoice. This will open the invoice window where you will record the deposit payment info. Acctivate will create an invoice for the deposit amount, in this case $25, and apply the payment to it. Both the invoice and payment will sync over into QuickBooks.
- In QuickBooks, the customer will have a zero dollar balance, however there will be a $25 entry in the Customer Deposits account. This amount reflects that you have $25 of deposits money which has not been used.
- After creating the first invoice in Acctivate, you will schedule the remainder of the order, which includes the negative deposit amount. This will reduce the balance of the order by the deposit amount. When you create your invoice, your customer will see the deposit being deducted which leaves a balance due of $75.
- After creating the invoice for the balance due and syncing it to QuickBooks, the customer balance will reflect the amount due and the Customer Deposits account will reflect zero dollars, indicating that we've use all of the customer deposit on hand.
|Other Current Liability - Customer Deposits||$25|
|Customer Sales Invoice with initial Deposit|
|Deposit Payment synced with initial Invoice|
|Sales - Widgets||$50|
|Sales - Gadgets||$50|
|Other Current Liability - Customer Deposits||-$25|
|Customer Sales Invoice for remainder of invoice|
Note: An alternative method would be to apply the customer payment created in QuickBooks to the sales order at the time of invoicing.