Summary
Steps to apply a customer deposit.
Description
- Customer deposits are considered a liability in GAAP because a service is still owed to customer. The liability will disappear when you apply an invoice to the deposit.
Cause
- Customer made a deposit against a project
- Customer made payment against account
Resolution
- From the Home window, select Customers & Sales, Receipts.
- From the pull-down menu, select the Customer.
- Click in the Amount Received column to select the invoice(s) and the deposit (in red).
- Click Process.
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