6 ensure that no invoices are selected for applying

This preview shows page 16 - 21 out of 28 pages.

6. Ensure that no invoices are selected for applying the payment. 7. Ensure the Leave the credit to be used later option is selected. 8. Enter a memo indicating that it’s a down payment, if desired. 9. Click Save & Close . 10. In the Payment Credit window that appears, click OK . Step-by-Step: Create an Invoice for a Customer Who Made a Down Payment 1. From the Customers menu, choose Create Invoices . 2. In the Customer:Job field, select the customer for whom you are creating the invoice. 3. Add any billable time/costs, if applicable. 4. If you use custom invoice templates, select the appropriate template from the Template drop- down. 5. Complete the invoice form appropriately. 6. Click Save in the Main tab of the ribbon at the top of the invoice to save your invoice but keep it open.
Lesson 7 — Receive Payments & Make Deposits Handle Down Payments & Prepayments QuickBooks Desktop 2020 Client Training 17 7. Click Apply Credits to apply the down payment amount toward this invoice. 8. Choose the credits you wish to apply to the invoice (if they’re not chosen for you already) and click Done . In this case, only part of a credit is being used and there is a remaining credit balance.
Lesson 7 — Receive Payments & Make Deposits Handle Down Payments & Prepayments QuickBooks Desktop 2020 Client Training 18 9. You will see the invoice is now changed to reflect the application of a credit and the balance due is also affected. 10. Click Save & Close . N OTES
Lesson 7 — Receive Payments & Make Deposits Make Deposits QuickBooks Desktop 2020 Client Training 19 Make Deposits When you use the Enter Sales Receipts window (for a sale where you receive payment on the spot), the Receive Payments window (for payments on invoices), or a payment item in the body of an invoice, QuickBooks keeps track of the money you’ve received until you deposit it in the bank. When you receive payments from customers, you can either deposit each payment directly into a QuickBooks bank account or you can accumulate those payments in an account called Undeposited Funds to be moved to a bank account at a later time. (This makes reconciling the bank accounts much easier to do; you don’t need to use a calculator to add up individual payments to match the total deposit for the day when comparing the amounts in QuickBooks to the bank statement. QuickBooks allows you to choose the method you prefer for depositing payments in the Company Preferences for Payments.) Step-by-Step: Select Payments to Deposit 1. From the Banking menu, choose Make Deposits .
Lesson 7 — Receive Payments & Make Deposits Make Deposits QuickBooks Desktop 2020 Client Training 20 2. Click to select the payments you want to bring to the bank in one batch (e.g., a deposit slip). 3. Click OK . QuickBooks displays the Make Deposits window, which shows the payments you just selected. 4. In the Deposit To field, make sure the proper bank account is selected.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture