Would it be possible to get split due dates on invoices? (I take a 25% deposit then the rest due delivery + 1 month)
Currently I raise 2 invoices, but this is a little clunky.
GREAT product though!
Strictly speaking, a deposit should not be invoiced, because the income has not yet been earned. Better practice is to make the deposit a condition in your quote or proposal, receive the money into a cash or bank account and allocate it to Customer credits, and invoice for the full amount upon delivery. Manager will automatically apply the credit and reduce the balance due on the sales invoice.
An alternative, if the job is protracted or has billing milestones, is to allocate the deposit to a liability account like Advance payments. Transfer funds to Customer credits as income is earned, just before invoicing. The exact method will depend on whether you are using cash or accrual accounting and may be influenced by your accountant’s preferences. This approach could be especially appropriate in situations where the customer has the option of terminating the contract under certain circumstances, requiring a refund of a portion of the deposit.