06-26-2024 07:40 AM
Hello! How is everybody entering down payments? We require our customers to pay 1/2 down before we order their product and so sometimes this money could sit for a couple months. Currently, we are collecting down payments as a payment and it's exporting as a credit on our AR report. I'm looking for it to go into my "down payment" liability account. I've played with the settings to where it comes over as a journal entry, but it's still not doing what I need it to.
07-02-2024 04:04 PM
I've been searching for topics on this as well. We are a roofing company so some jobs are work a lot of money and payment is structured based on milestones for that job, thus creating a payment schedule. I have not found a solution for us to bill a customer for only a certain portion of the total approved estimate without giving them the invoice for the total and not just the amount required for that milestone. It's a pain to have to keep explaining to the customer that we are not billing them for the entire amount yet but only requiring them to pay x amount.
07-02-2024 12:24 PM
We also have this process. The Service Titan work flow for this is very complicated and frustrating. What we ended up doing is exporting the payment to Quickbooks. Created a "retainer" invoice that links to a liability account. Then when final invoice comes over add a line in QB for the deposit amount.
Very annoying.