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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / How to invoice for a d...
Microsoft Dynamics GP (Archived)

How to invoice for a deposit.

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Posted on by Cheyene 170

Hello,

The problem that I am running across is that we have sales orders that are processed then the customer sends us a deposit for the order and they want an invoice. If we give them an invoice and apply the deposit against it then when the actual invoice from the sales order is completed and we receive the rest of the payment there will always be an amount open. To keep the integrity of the inventory we cannot change the invoice amount on the second invoice that is generated from the sales order.

Now the a/r clerk is creating a first fake invoice sending it to the customer not posting it, then deleting it. We need to stop this practice. Any ideas?

Thanks,

Cheyene

 

 

 

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  • Staradmin Profile Picture
    Staradmin 5 on at
    RE: How to invoice for a deposit.

    It sounds like you need to look at www.starinvoice.com where you can generate a proforma invoice online and email it directly to your client. You can also manage unlimited companies, invoices, clients, employees, products and much more. And yes, it is free to use.

  • Community Member Profile Picture
    Community Member on at
    Re: Re: Re: How to invoice for a deposit.

    Hi, no register of issued Pro Formas...but then again its not a legal invoice - just a note saying you should pay the deposit?

    There are no sales distributions to the GL when you print the order. However, when you add the Deposit to the order,the following occurs:

    1. A receipt is posted to the bank - waiting to be deposited.
    2. A GL journal is created - Debits Bank, Credits Deposits Received.

    Hope this helps.

  • Cheyene Profile Picture
    Cheyene 170 on at
    Re: Re: How to invoice for a deposit.

    In regards to the pro forma invoices, is there a register that will track the pro forma invoices issued. Also, at the time that the invoice is issued are there any postings to the general ledger i.e. debit a/r credit deposit account?

    Thanks,

    Cheyene 

     

  • Community Member Profile Picture
    Community Member on at
    Re: How to invoice for a deposit.

    What you are talking about is a Pro-Forma invoice?...something the customer can use to generate a payment to you.

    The easiest way I have seen this done is to modify one of the Sales Order formats - with text identifying it as a Pro Forma Invoice. If you use the Blank format for your Orders, then use say, the Long Form for your Pro Forma Invoices. Or, you could include one of the SOP User defined fields on the Order format...and when you want a pro forma...just type 'PRO FORMA INVOICE' into this field...add the field to the report in such a way as it prints over the word 'ORDER'...and make sure it is set to 'Hide when empty'.

    The process would then be to print it out and send it to them. When you get the money, add it as a deposit to the order - in the Amount Received field in the order footer. This updates bank immediately. As the order progresses to a sales invoice, the deposit goes with it. No change to inventory or anything like it. When you print and post the eventual invoice - you can include the deposit amount on it...and calculate a balance owing which you can also show on the invoice. Also, when you post the invoice, the debtors ledger will be correct - it will recognise that there was a deposit and show just the balance outstanding as being owed.

    A word about Sales Tax / VAT:

    Since the Pro Forma Invoice is marked as such, it is not a legal document - ie no VAT implications for you - VAT is still only due based on the actual real invoice date..... (unless you remit VAT on a cash basis, or work in one of those areas where VAT on deposits must be accounted for (small bit of a nightmare this one... but there is a way!!))

    Hope this helps.

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