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What is the entire process flow and requirements behind this need?
Will an invoice be produced in the system but need to be billed out in later chunks of the 70% and 20% or is a single amount invoice delivered to the client with the expectation that they will pay 70% and 20% on later dates?
GP has the ability to create a single invoice and cash receipts can be applied regardless of percentage and multiple cash receipts making up the different percentages can be applied at varios times until the balance is $0.
We have a variety of situations around this (basically any combination of deposits and sales you can think of). We have to generate invoices to send to the customer as certain milestones are achieved which are coded to a customer deposits liability account on the balance sheet. We then record the sale at time of shipment and relieve the deposits.
We have been using the invoicing module to handle this billing until now as all our inventory has been outside of GP. Invoicing gives us flexibility on G/L coding which we manually control. For example, when we do the invoice to record the sale - the invoice amount may be the final 20%, but the G/L coding in the background will record 100% of the sale and relieve the 80% deposit to date netting out to the remaining 20%.
We are moving our inventory into GP, which forces us to use SOP - which is not as flexible on G/L coding. It looks like SOP handles one single down payment or deposit OK - using the "amounts received" field. I couldn't figure out how to get a 2nd deposit to work using this. Let me know if need further details. I appreciate your help.
Bill
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