The Sales Receipt will send the payment to the bank account, or undeposited funds as you specify at the bottom of the Sales Receipt.Ĭheck out my QuickBooks for Contractors Trainingĥ. It is extremely important to finalize this process with the last step which involves invoicing the customer for the balance upon receipt of the products and services. (*if you do not have any information on the customer’s order, you can create an invoice later, just be sure to credit them for their deposit payment!)Ĥ. Create a Sales Receipt to the customer for the deposit amount, using the “Deposit Received” item this time as a positive number. Create the customer’s complete order at the total price they will pay for products or services as an Estimate or Sales Order, entering each line item of products and services they have agreed to purchase at the agreed prices, and enter the final item “Deposit Received” as a negative number. Here is the best way to deal with customer deposits :ġ. Create Current Liability Account on your Chart of Accounts called “Customer Deposits Received”.Ģ. Create an Item on your Item list – the item type “Other Charge” Called “Deposit Received” and map it to the “Customer Deposits Received” Liability Account.ģ. (See my blog article “Important unapplied payments check”.) This process wreaks havoc with your Accounts Receivable and can have serious consequences under-stating your income if not dealt with later. One mistake I see often is receiving a payment and leaving the payment “unapplied” to anything until some later date when an invoice is created. I'll be more than happy to help.Many businesses who receive deposits (pre-payments) from customers are not aware of how to process these payments properly. I'm also adding some helpful links to help you when you're ready to use QuickBooks full time:įeel free to stop here again if you have any concerns. I'm adding these links below just in case you're interested: Intuit Developer Support We also have a joint forum called Intuit Developers, where you can find and connect with our developers who can suggest what app to use and help with integrations. There are a lot of apps in our website that will help you import the data seamlessly between QBO and Sage. Click this link to our website: After reaching out to Sage 50, you may check out our apps website to find bridging tools as another option. They can also guide you on how to export your sales data into QuickBooks without recreating them repeatedly. This way they can help you process the credit card payments that will later be imported into our program. Since you've mentioned that you're still not working in QuickBooks, I recommend consulting Sage 50 support first. It's nice to have you join this discussion, want to help you fix this problem. Can someone help me? I can't wait until I can switch over to QBA payment processing system - I just have too much to do before I can make that switch -over 250 cc's that I can't extract that data from Sage 50 - I have to start calling people that pay via cc (250 plus) people - that's so much work - and people don't like giving their cc info over again. Isn't there a way to possibly toggle it back and forth depending on what/how the customer chooses to pay? Is it in the recurring transaction field under 'use' - I have no idea. When I have customers that want to go from direct pay/invoice, to sales receipt/pay by credit card, how do I switch them over without having to retype in all the services that the customer is receiving when creating either an invoice to sales receipt or vice versa? It is so time consuming to delete the entire invoice, then have to recreate it all over again to be a sales receipt/cc payment. I am NOT YET on Quickbooks payment processing system - I have over 250 credit cards with Sage 50, and it doesn't communicate with my accounting system, Quickbooks. I can't seem to find an answer to a problem I have.
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