Good afternoon, I am looking for a method to accept a customer deposit, store that deposit as a liability and later apply the deposit to an invoice.
The deposit account must be a liability account and the entries for the workflow as follows: *For the sale* CR income (full amount) DR Accounts Receivable (full amount) *For the credit card payment of the deposit* CR Customer Deposit (for deposit amount) DR Credit Card Receivable (for deposit amount) - to be cleared later when the settlement from the credit card company is received *(I can change the account for the deposit to reflect the customer deposit liability account with internal type set to Receivable)* *For the credit card payment of the balance* CR Accounts Receivable (for balance) DR Credit Card Receivable (for balance) - to be cleared later when the settlement from the credit card company is received *(once I change the account for the deposit (to Customer deposit) the system won't let me make this payment)* *For the deposit being applied to the invoice* DR Customer Deposit (for the deposit amount) CR Accounts Receivable (for the deposit amount) *(there is currently no way to apply this deposit that I have found)* * * I have attempted to use Advance Invoice however that function doesn't not allow for the storage of the deposit as a liability. Any input or feedback is appreciated. Thank you in advance. * * * * -- Laurie Chrostowski Business Analyst NovaPoint Group, LLC (586) 330-9170 skype: lchrostowski
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