Is there a proper way to take down payments for projects that will be completed in another period? Also having issues with exporting down payments to QBO.

[dwhite45]

Exactly. That is how we do it. That way we get the money received billed in the right month and there is no money sitting in QB not applied.

[jeremyhu]

When you create the second job for the down payment, do you adjust the invoice to match the down payment and decrease the tasks $ amount to reflect the balance due?

[dwhite45]

We always do it like a partial billing. You never know how long some jobs may take or a customer may call to put on hold for some reason?

Have the original job on the project, then book another job to bill the down payment on. Go through all of the steps with completing it then we do this in the summary:

Original Contract: $1,000.00

Less Down Payment: -$500.00

Contract Balance: $500.00

Task would be whatever you have to bill it, we have "Contract" then description we put Billing for Down Payment.

We put the same info on both invoices and whatever the contract balance is, that is what we leave as the task amount on the original job for when it is completed.

[jeremyhu]

That is what I thought too but then when that payment is exported to QBO it creates a credit in our AR which makes our report inaccurate.

[baraica]

Hi Jeremy! The best way to take a down payment for projects that will be completed at a later time is to add the payment onto the original job where the estimate was created. That will then affect the balance on the whole project.