Collect a Deposit from your Customers using Quickbooks Online
Vložit
- čas přidán 6. 08. 2024
- *We have rebranded since this video was posted - the content below reflects our new information*
Hullstone is a remote Bookkeeping, Consulting, and Tax Company Schedule a FREE 30 minute Consultation with us so we can help manage your books and set your QuickBooks Online company up for success: outlook.office365.com/owa/cal...
Visit our website - www.hullstone.com
Follow us on Instagram - / hullstonebookkeeping
Like us on Facebook - / hullstonebookkeeper
Follow us on LinkedIn - / hullstonebookkeeping
Get your 3 FREE stocks with the links below:
2 FREE stocks from Webull - act.webull.com/e/5r2P5S9W7XKd...
1 FREE stock from Robinhood - join.robinhood.com/michaec36
They should make it where the required deposit is shown on the estimate.
They do now. The only thing I don't like about it is that when the customer pays the deposit, QBO auto-creates an invoice to link the payment to. This invoice then shows up on the AR Aging Report and I can't differentiate between a final invoice and a "deposit" invoice.
Super helpful. Thanks for posting. I've also been needing this for years.
I just wanted to put into words what makes your videos so useful:
You are very good at walking through what it’s actually like to use the product. For beginners, it’s so crucial, because we watch another video and what we are doing in QB doesn’t match the video and all of the sudden we’re lost. Whereas you say “now in reality, you’d wait until X happens to do Y”
It really helps connect the dots!
Thank you so much for the feedback! I'm happy you're able to directly relate the tutorials to your exact situation. That is the goal.
I have been Trying to figure out how to do this for awhile and couldn’t seem to ask my question in just the right way to get the right answer and you just nailed it. Thank you so very much. Super helpful.
Thanks! Happy to help!
I appreciate your information on creating a custom amount for the progress invoicing. QB didn't answer my question, but you did; and thoroughly. I also like the speed of your content. it helps me to watch, listen, process and take notes. Thank you so much.
Happy we could help! thank you for the kind words.
Great tutorial! All my bookkeepers have been doing it wrong all these years and it's really very simple! Thank you!
Happy we could help!
Thank you! This video really helped me understand and set up payments from my clients.
Glad it helped!
OMG! Thank you so much for this! I had been searching weeks trying to figure out if there was a way to do this and everyone I watched said there was no way to split invoices. THANK YOU THANK YOU THANK YOU!!
Glad we could help!
Thank you! Very helpful.
Glad the video helped!
Thanks. Great video!
Glad you liked it!
Amazing job. Thanks for sharing. We earned so much time and great option for financial follow up.
Great to hear this helped save time and helped money come in the door!
So helpful thank you
Glad it was helpful!
Thank you for this video
My pleasure!
I still can't seem to find a way to simply add a deposit directly to the invoice. Is it not possible? Anyone know? Without starting from an estimate?
Can you discuss change orders that could occur and impact the estimate and invoice amounts?
Great input! I will add that to my list of future videos. As you can see, we have not posted a video in a while but we are trying to start posting again soon. Stay tuned!
I would like to see this as well
I'm constantly being told I should not be using the progress invoicing to collect a pre-payment or deposit. Any idea why?
so you have an accepted estimate for the year, with quarterly estimate billing and the client pays that. Now you want to send them a more detailed monthly invoice showing exactly what they have purchased/consumed that month, with credit for what they have paid. How do you do taht?
Hi Mike. It's been so long. I am eagerly waiting for your tutorials. Thanks
Currently studying and focusing on passing the CPA exam, so I am not sure when I will start posting again. Hit the notification bell so you know when I do start posting again though! and if you have any recommendations for videos, or something you want a tutorial on, please dont hesitate to reply! thank you!
New video up!
@@hullstone Thank you very much Mike. This is so much from you even you are in midst of your prep for CPA and other work.
@@hullstone Hey Mike I just want to say that 'Do you need a helping hand to do the tasks of your clients that eat up most of your time while you are on your prep for CPA exam( meanwhile will be learning opportunity for me as well). I have 6 years of education in accounting and have data cleansing and dashboard skill in power bi and currently working in local small start up here at gadoon amazing industry swabi, Pakistan. Eagerly waiting to hear from you Mike. Thanks
Sorry for the delay on this response. Unfortunately, right now we are not hiring, but if anything opens up in the future I will reach out. Thank you for your interest!
Is there a way to change the total estimate cost if there are unexpected problems or charges?
hi. I was trying following all the step you have explained in the video and any amount I put on the invoice increase the total amount that is on the accepted estimate. Could you please help why this happened? Thanks
Can I request a deposit straight from creating an invoice without creating an invoice?
Can you use progress invoicing with the projects feature?
Yes you can! Check out our job costing series here. czcams.com/video/kDyTijZ6MVQ/video.html .. as long as you turn both projects and progress invoicing on in the account and setting section, you can use both!
How do you do it on an existing invoice? Let’s say I have an invoice if 3000 but need a deposit if 1500 to order product.
QBO fairly recently came out with a separate Deposit feature on invoices. Go to the Gear icon>Account and Settings>Sales>Sales form content and toggle on the Deposit feature. This will now show up on your invoices as long as you have QB payments set up. Hope this helped!
Do you always have to toggle the Progress Invoicing with to ON every time? My switch keeps turning off. I'm also never seeing the "how much do you want to invoice" window.
You should not have to toggle progress invoicing on every time. That sounds like a system glitch. QuickBooks support would be the best way to get this question answered.
Is there any way to use this feature and be able to collect sales tax from the beginning rather than have it generate with each invoice?
Not that I am aware of. But since you are sending multiple invoices at different periods of time, you only owe the sales tax for the invoices that are sent during that time. For example if your estimate is for $2000 and you only invoiced your customer for $1000, then the sales tax for the $1000 is all that is owed so far. Hope this helped!
It is driving me mad! how do I get the box to come up for the deposit. I followed your steps to a T. pausing and all.
Please double check to make sure that progress invoicing is turned on in your Account and Settings. If you are still having issues our consulting team would be happy to help!
What happens when the job changes after a deposit has been taken? My jobs rarely end up exactly the same from Estimate to Invoice.
Simply change the original estimate in QBO. You can update the amount of an existing line or even add new lines on the estimate. Continue to create invoices from that estimate and that will ensure you invoice for the appropriate amount even with the changes. Hope this helped!
@@hullstone Thank you. I'm going to give this a try!
Question . How do you received payments when it’s just partial payment and not confuse it with any other income.
Invoice for 2k
Received 1k
Open the invoice and click receive payment. Enter in the amount you received even though it's less then the total owed, enter the date, and the bank account the money will be deposited to. This will allow you to match the deposit in the banking section. Hope this helps!
@@hullstone thank you. !
Can this be done from the mobile app?
No, unfortunately this functionality does not work well on the mobile app. You can create an estimate, and convert it to an invoice, but it does not link the invoice to the estimate and it does not give you the progress invoicing options shown in this video.
@@hullstone Thank you for the response! We were able to get set up with the desktop version. Thanks again