To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.
Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.
Record a Customer Deposit
For this exercise, you will use the Accounts receivable method to record the deposit. When using this method, you are recording the deposit before an invoice has been created.
Click "New"
Click "Receive payment"
In the Customer field, select "Wedding Planning by Whitney"
Notice when you select Wedding Planning by Whitney that a warning appears letting you know that Wedding Planning by Whitney has no outstanding invoices.
Whitney paid with check 525.
In the Payment method field, select "Check"
In the "Reference no." field, type "525"
In the Amount received field, type "200"
Click "Save and close"
You will see a pop-up indicating that no invoices have been selected, click "Save as a credit"
Now, take a look at the impact on Wedding Planning by Whitney's customer profile.
Click "Customers"
Click "Wedding Planning by Whitney"
Close any popups.
You'll see that the balance on Wedding Planning by Whitney's account is negative indicating a credit balance. When you create the invoice at the end of the project, you'll be able to apply the credit to the invoice.
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