Entering a job deposit/retainer

I'd love to hear how others enter job deposits?  We use Progress billing as well as Time & Material billing as the Invoice Detail for each Progress Invoice.


  • Two options

    1. Short term deposit  enter a credit in 3-2 as a type 2-memo  in the grid post it to your checking acct  

    2. Long term deposit enter at 1-2 and credit customer deposots kiability account sub accounted by job. When ready to apply enter an AR credit as type memo and hit that liability account in the grid.  

    apply credit thru cash receipts when you bill them  or send a statement showing bill and credit so client pays net