I have created an invoice for a client, she paid her deposit and I went to apply it to invoice where it says payments, but its not formed to receive. Where do I go to set up payment receivable accounts for invoices please
If you have not delivered goods or services yet, you should not have created a sales invoice. If the customer needed a formal document before paying a deposit, you should have used a sales quote. See this Guide:
A true advance deposit is handled as described in this Guide:
Once a sales invoice has been properly raised, money received against it is allocated to
Accounts receivable and the customer’s subaccount. If you want to designate the specific sales invoice, select that. Otherwise, Manager will allocate receipts against the oldest invoice of that customer first.
I created the invoice because the service is underway and the deposit is required; I followed the forum for starting accounts receivable under customers, but it did not open accounts receivable. I need to show payments when they’re received, but unable to find the appropriate place to allocate funds received
Can you show screen shots of (1) your left navigation pane and (2) the balance sheet side of your chart of accounts?
As for raising the sales invoice, you have not yet earned the revenue, so the sales invoice misrepresents your company’s current financial position. Until you earn the revenue, the customer’s deposit is a liability, not income.
If you are using Cash Basis then you don’t see Accounts Receivable. Go to Summary tab - Set Period and change it to Accrual Basis to see Accounts Receivable.
When you are viewing the Sales Invoice and click Receive Money - the first field “Received In” requires you to select a Cash Account, after selecting Cash Account the rest of the Form will appear with Accounts Receivable + Customer + Invoice showing under Account