Downpayments From Customers Job Deposits Explained In QuickBooks Online
1.8 هزار بار بازدید -
6 ماه پیش
-
When you receive advanced payments
When you receive advanced payments as job downpayment or even deposits from customers, there are several methods of recording these in QuickBooks online.
There are differences in the nature of any payments in advance that your customers could pre-pay to you before the service or products rendered or given.
A job deposit is usually what we call a small amount given in advance of service before work is started. A down payment is usually a percent of the amount for pre-payment of a product purchased. I would call the payments receive from customer a prepayment or advanced payments if it’s payment in full from the customer before receiving what they pay for. It shows how to give a deposit receipt for proof of pre-payment. There are choices when giving receipts for down payments. You will always have a negative cusotmer balance for these transactions, so I also show how to make adjustmenst for financial statemnst to adjust for prepaids so uneanred income is correct on the financial statements for both methods.
Quicbooks online has a special “invoice deposit feature” that you can activate and use, but there are pros and cons for using this job deposits tool instead of the recording methods that were available before this feature was added.
I will show you both methods, with or without the job deposit feature that you can activate and put on an invoice to record these downpayments and advance payments from clients.
Table Of Contents:
Chapter 1 Introduction And Welcome 00:00:00
Chapter 2 Choose Between Methods 00:00:33
Chapter 3 Using The Traditional Pre-paid Downpayment Deposits Method 00:02:03
Chapter 4 Example Of Traditional Method 00:03:22
Chapter 5 Activating And Using The Invoice Deposit Feature 00:10:13
Chapter 6 Adjusting For Financial Statement Reporting 00:23:14
This is part of the full accounts receivable course that will teach you everything you could ever need to know about customers and accounts receivable. .
Link for all Accounts Recievable coming soon.
The accounts receivable course is really the 3rd course in the Mark Smolen YouTube learning series teaching everybody everywhere, everything about QuickBooks Online.
The first one is rign here……
Here is the link to the complete tutorial, beginner to advanced in QuickBooks online. It’s the most popular QBO tutorial in the world; you will love it. If you follow this, you will have all the numbers I have this video here…………………..
QuickBooks Online Complete Tutorial
The second one that follows is here.......
How To Use The New Search Tool In Qui...
You can lean QuickBooks free at the main YouTube channel:
woldwidequickbooks
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
Other Related Videos 👇 QuickBooks Online Bank Reconciliation Playlist. Watch it in Proper Order (only a few minuets each) and you will be able to prove everything is correct and perfect. It’s easy and fun!!
QuickBooks What Is Bank Reconciliatio...
Do everything in QuickBooks Online Faster with Bank feeds and importing transactions
Setting Up Bank Feeds For QuickBooks ...
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
➡Follow us on social media: Facebook: certifiedquickbookstraining
Facebook: QuickbooksForLandlords
Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website.
➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course?
Contact Mark directly.
https://marksmolen.com
https://quickbooksforlandlords.net
#QuickBooksOnline #prepaids #jobdeposits
There are differences in the nature of any payments in advance that your customers could pre-pay to you before the service or products rendered or given.
A job deposit is usually what we call a small amount given in advance of service before work is started. A down payment is usually a percent of the amount for pre-payment of a product purchased. I would call the payments receive from customer a prepayment or advanced payments if it’s payment in full from the customer before receiving what they pay for. It shows how to give a deposit receipt for proof of pre-payment. There are choices when giving receipts for down payments. You will always have a negative cusotmer balance for these transactions, so I also show how to make adjustmenst for financial statemnst to adjust for prepaids so uneanred income is correct on the financial statements for both methods.
Quicbooks online has a special “invoice deposit feature” that you can activate and use, but there are pros and cons for using this job deposits tool instead of the recording methods that were available before this feature was added.
I will show you both methods, with or without the job deposit feature that you can activate and put on an invoice to record these downpayments and advance payments from clients.
Table Of Contents:
Chapter 1 Introduction And Welcome 00:00:00
Chapter 2 Choose Between Methods 00:00:33
Chapter 3 Using The Traditional Pre-paid Downpayment Deposits Method 00:02:03
Chapter 4 Example Of Traditional Method 00:03:22
Chapter 5 Activating And Using The Invoice Deposit Feature 00:10:13
Chapter 6 Adjusting For Financial Statement Reporting 00:23:14
This is part of the full accounts receivable course that will teach you everything you could ever need to know about customers and accounts receivable. .
Link for all Accounts Recievable coming soon.
The accounts receivable course is really the 3rd course in the Mark Smolen YouTube learning series teaching everybody everywhere, everything about QuickBooks Online.
The first one is rign here……
Here is the link to the complete tutorial, beginner to advanced in QuickBooks online. It’s the most popular QBO tutorial in the world; you will love it. If you follow this, you will have all the numbers I have this video here…………………..
QuickBooks Online Complete Tutorial
The second one that follows is here.......
How To Use The New Search Tool In Qui...
You can lean QuickBooks free at the main YouTube channel:
woldwidequickbooks
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
Other Related Videos 👇 QuickBooks Online Bank Reconciliation Playlist. Watch it in Proper Order (only a few minuets each) and you will be able to prove everything is correct and perfect. It’s easy and fun!!
QuickBooks What Is Bank Reconciliatio...
Do everything in QuickBooks Online Faster with Bank feeds and importing transactions
Setting Up Bank Feeds For QuickBooks ...
👉Subscribe for more videos: http://bit.ly/thequickbooksdude
➡Follow us on social media: Facebook: certifiedquickbookstraining
Facebook: QuickbooksForLandlords
Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website.
➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course?
Contact Mark directly.
https://marksmolen.com
https://quickbooksforlandlords.net
#QuickBooksOnline #prepaids #jobdeposits
6 ماه پیش
در تاریخ 1402/10/07 منتشر شده
است.
1,867
بـار بازدید شده