helpwith.salesorder.com
  • Read me first
  • Start!
    • How to move forward
  • Video Index
  • Live in 5
    • Step 4: Solution Plan
      • Workflow Guides
    • Must read: Data Migration
      • Read First: ASIC and presets
      • Transaction Migration Primer
      • Migrate transactions
      • Migrate from Quickbooks
        • How to categorize Quickbooks 'Open' Purchase Orders
    • Step 5: Launch Sequence
      • T -6: System Settings
      • T -5: Baseline preparation
      • T -4: 'Open' transactions
      • T -3: Trial balance
      • T -2: Set Stock levels
      • T -1: User testing / Dry run
  • Customer references?
  • Common Actions
  • Company
    • Workers and Users
      • Add new User login
      • Owners
  • Organizer
    • Memo
    • Contacts
    • Calendar
    • Email
    • Attachments and Linking
  • Expenses/Timesheets
    • Expense Claims
      • Mileage Claims
    • Timesheets
  • Sales Forecasting
  • Sales
    • Leads
    • Prospects
    • Customers
      • Credit Controls
    • Jobs
    • Sales Quote
    • Sales Orders
      • Common Sales Tasks
        • Pre-Authorization/Pre-Payment with BASYS
      • Ordered Item History
      • Stock Allocation
      • Pick-Pack-Ship Process
      • Sales Order List
      • Drop Ship
      • Special Orders (Just in Time)
      • Discounts
      • Prepayment/Deposit
    • Cash Sales
    • Sales Invoices
    • Payments from Customers
      • Processing digital Payments
      • Apply Credit Automatically on Payments
    • Customer Credit Notes
    • Customer Refunds
    • Delivery Notes (a.k.a Packing List)
    • Customer Statements
    • Shipments
      • Pick List
    • RMA
    • Commission automation?
  • Purchasing
    • Suppliers
    • Purchase Quotes
    • Purchase Orders
    • Cash Purchases
    • Item Receipts
    • Bills (Purchase Invoices)
    • Payments to Suppliers
    • Supplier Credit Notes
    • Supplier Refunds
    • PO Generator by Item
    • PO Generator by Order
  • Inventory Forecasting
    • Inventoro
  • Products/Services
    • Items - which ones?
      • Preferred Suppliers
      • Stock Items (SKUs)
      • Stock Assemblies
      • Kits
      • Non Stock Items
      • Group Item
      • 'Calculation' Items
      • Service Item
      • Matrix Item
    • Sites
    • Stock Adjustment
    • Stock Manager
    • Stock Locations
    • Categories, Tags and Attributes
      • Categories
      • Tags
      • Attributes
    • Images on Items
    • Item Extra Info
    • Price Levels
    • Price Lists
    • Advanced Price Lists
  • Banking
    • Cashflow Forecast
    • Checks
    • Bank Reconciliation
    • Petty Cash Accounts
    • Credit Cards
    • Money In and Out
  • Accounting
    • Accounting Periods
    • Payment Terms
    • Tax
      • Sales Tax
        • US Tax Codes
      • Tax Authorities
        • Working with HMRC (UK Specific)
      • Tax Codes
      • Tax Groups
      • Item Tax Options
      • VAT Returns
    • Currencies
    • General Journals
    • Memorized Transactions
    • Reverse Transactions
  • WMS: Warehouse Management
    • Stock View
    • Goods In
    • Goods Out
    • RMA
    • Shipping
    • Pallets
    • Kits and Assemblies
    • Stock Actions
    • Stock Count
    • Locations
    • History
    • Admin
    • Config
    • Barcode Scanner App ⛭
    • Multipacks
    • Overship Tolerance
    • Expiry Date
  • WMS Setup
  • Third-party logistics (3PL)?
  • Shipping
    • FedEx Manager Integration
    • UPS WorldShip Integration
  • Reports
    • Classifications
    • Report Mailer
    • Email Reports on Schedule
    • Accounting Periods
  • Setup
    • Roles
    • Email templates
    • Payment Processors
      • Basys: low fees, VIP service
      • Authorize.net
      • Cybersource
      • PayPal
      • USAePAy
      • Paragon (PAYA)
    • Configuration
      • Company ⛭
      • Memo ⛭
      • Ref # ⛭
      • Leads ⛭
      • Prospects ⛭
      • Customers ⛭
      • Credit Controls⛭
      • Jobs ⛭
      • Sales Quote ⛭
      • Sales Order ⛭
      • Sales Invoice ⛭
      • Customer Credit Note ⛭
      • Cash Sale ⛭
      • Statements ⛭
      • Shipment ⛭
      • Customer Refund ⛭
      • Delivery Notes ⛭
      • RMA ⛭
      • Pick List ⛭
      • Supplier ⛭
      • Purchase Quote ⛭
      • Purchase Order ⛭
      • Item Receipt ⛭
      • Cash Purchase ⛭
      • Bills ⛭
      • Payment to Suppliers ⛭
      • Supplier Credit Notes ⛭
      • Supplier Refunds ⛭
      • 1099 Categories ⛭
      • Kit ⛭
      • Accounts ⛭
      • Accounting Periods ⛭
      • VAT ⛭
      • Email Accounts ⛭
        • OAuth for Outlook 365 ⛭
      • Company Security ⛭
        • Two Factor Authentication
      • Classifications ⛭
      • Document Templates ⛭
      • Shipping Carriers
      • Sales Invoice ⛭
      • Payments from Customers ⛭
      • Sales Opportunities ⛭
    • EasyPost ⛭
    • Shipstation ⛭
    • Web to Lead
    • Import data templates
    • Exporting Data
    • Your Account
  • Shopping Carts b2c
    • ⚠ Live Shopping Carts
    • Shopping Cart controls
    • Shopify ⛭
    • BigCommerce ⛭
    • Magento ⛭
    • Woocommerce ⛭
    • Prestashop ⛭
  • Trade Acceleration Portal 2.0
    • TAP Users
      • Customers
      • Sales Reps
      • Sales Teams
      • Administrators
        • Configure barcode order entry
        • Get your Inventory List from QuickBooks
    • TAP UX
      • Global Brand Style
      • Themes
      • Pages
      • Blocks
        • Group Start
        • Plain Text
        • Image
        • Hyperlink
        • Menu Matrix
        • Title
        • Custom HTML
        • Block Configurations
          • Pixels and Percentages
          • Flex Box Settings
            • Flex Wrap
            • Justify Content
            • Align Items
            • Column/Row Gap
            • Align Content
          • Background
          • Dimensions
          • Border
          • Slider & Carousel
          • Margin Padding
          • Overflow Settings
      • Content Management System (CMS)
  • Trade Acceleration Portal 1.0
    • Configure barcode order entry
    • Get your Inventory List from QuickBooks
  • Customization
  • Volume Automation
  • EDI
    • EDI integration via XML
  • REST API
  • Schema Documents
Powered by GitBook
On this page
  • Setup
  • Show Deposit on a Sales Order
  • From a Sales Order, invoice the Deposit or take immediate payment using a Cash Sale
  • If you are not using a Sales Order for this transaction

Was this helpful?

  1. Sales
  2. Sales Orders

Prepayment/Deposit

PreviousDiscountsNextCash Sales

Last updated 10 months ago

Was this helpful?

Media

Read this entire article before you use a Prepayment/Deposit.

Setup

Setup Accounting for Deposits /Prepayments

Use an existing account or create a new account:

Accounting>Chart of Accounts>+

Current Liability>Account name = Deposits

Now Setup Deposit/Prepayment Item

Set up a Charge Item with its Income account mapped to the current liability account ‘Deposits’

Products/Services>Items>+>Charge>Item Code = Prepayment or Deposit - or a name your sales team uses to describe this type of task.

Charge Item>Accounting tab>Accounts>Income = Deposits

Show Deposit on a Sales Order

You’ll need to be careful with this method. Take your time.

  1. Enter the ordered Line Items

  2. Enter two Deposit Charge Items on separate rows

  3. Enter the Deposit amount in the Unit Price column against each Deposit Charge Item.

  4. Sign the second Deposit Item’s Unit Price with a minus (-)

  5. If you are going to send the Sales Order to the Customer, you’ll want to show the deposit on the PDF. Omit the row with the unsigned Unit Price, so as the Sales Order only shows the Deposit Item with the signed amount. Here’s how:

Hiding Rows when printing a Document

The display of the rows of a Document when it’s printed or emailed as a PDF can be disabled by clicking the row number.

  1. Edit the Document.

  2. Click on the row number you want to omit from printing. The row number will appear faded.

  3. Click Print to check the result. (Just open and review the PDF)

  1. You can now link the recording of the Deposit on a Cash Sale or a Sales Invoice to this Sales Order, here’s how…

From a Sales Order, invoice the Deposit or take immediate payment using a Cash Sale

  1. Go to the Sales Order you prepared as above.

  2. Select the row containing the unsigned Deposit Charge Item.

  3. Create an Invoice or a Cash Sales

  4. If you use a Sales Invoice, save and send it with just the Deposit Item.

  5. If you use a Cash Sale, take and process the payment on the Payment Methods tab. Then send the Cash Sale to the Customer.

  6. In both cases, the Sales Invoice or Cash Sale will be linked to the Sales Order (Our Ref), and the respective Document will appear in the Transactions tab on the Sales Order.

When you review the Sales Order, you’ll notice the row with the Deposit Charge Item has an indicator ‘Invoiced’. When you invoice the residual of the Sales Order, because the Deposit has been invoiced/collected the Invoice status will set to Fulfilled.

If you are not using a Sales Order for this transaction

Setup a Memo type ‘Deposit’ for use as a reminder/memo

This is an optional step.

See ‘Using Memos’.

When you take the deposit you can create and link a Memo to the Cash Sale or Sales Order to record details about the transaction, and act as a reminder.

Take a Deposit or Prepayment without a Sales Order

See ‘Using Cash Sales’, if this is the first time you’ve encountered the Cash Sale Document.

  1. Create a Cash Sale

  2. Add the Charge Item and set the Unit Price column to the deposit/prepayment amount.

  3. On the Payment Method tab record and process/save the payment details.

  4. Email the Customer a copy of the Cash Sale Document.

  5. Add a Memo to the Cash Sale (type Deposit) and record details.

Account for the Deposit on the Sales Invoice without a Sales Order

When its time to Invoice the customer, you’ll need to account for the deposit. To do this:

  1. Go to the Transactions tab on the respective Customer master and locate the original Cash Sale. If you created the Memo type ‘Deposit’, locate the Memo on the Memos tab using the Search Options>Memo type=Deposit. The Memo will be linked to the original Cash Sale. Bookmark the Memo and te Cash Sale for reference.

  2. Create the Sales Invoice

  3. Add the ‘Deposit’ Charge Item as a Line Item, with the Unit Price set to the original Deposit balance.

  4. Sign this Unit Price with a minus (-) to subtract the deposit from the Invoice.

  5. Save and email the Invoice.

Customer Prepayments