The current process of handing deposit or prepayments on jobs is a bit lacking. It would be nice to see a separate deposits section on progress billings and statements. We apply a % of deposits per month to progress billings and it would be nice to see a better running total of the deposits applied and deposits remaining.
I'm open to other ideas of how to handle job deposits. I just don't feel the current system is very useful.
by: Talaena C. | over a year ago | Accounts Receivable
Comments
Totally agree. We use one of our GL accounts as an "escrow" account to hold a client's deposit. When I apply the deposit I have to make a separate AR invoice to credit their account. It would be great to see everything on one invoice and not two. Such a waste of paper.