|
|
How to Add a Deposit, Credit or Retainer Fee
Overview
Some businesses require either a retainer fee or a deposit for a service that they provide. Others offer gift certificates or in-store credit. Whatever your business uses, this tutorial will show you how to add and redeem deposits, credits, or retainer fees. How to Add a Non-Refundable Deposit, Credit, or Retainer Fee- Add a payment to the invoice and select the "Non-Refundable Deposit/Retainer
Below are 3 different ways to redeem the Deposit, Credit, or Retainer Fee
Option 1: Use the Same Invoice when the Client Orders- If this option is used edit the original invoice and add their ordered items to the invoice.
- Edit the deposit/retainer fee and uncheck the "Non-Refundable Deposit/Retainer" checkbox
Option 2: Use a New Invoice and Add Discount To New Invoice If this option is used you will need to add a tax free product to the original invoice and then create a new invoice and add the deposit/retainer fee as a global discount. Note: This option assumes that taxes are paid on the deposit/retainer fee when the deposit/retainer fee is made. Step 1: How to Add a Deposit, Credit or Retainer Fee to an invoice
- Add a product called "Credit", "Deposit", or "Retainer Fee" with a set price of $0.00 to the invoice
- Edit the $0.00 amount to reflect the amount of how much the deposit, credit, or retainer fee is
- You can edit the amount by clicking on the edit icon under the Price column
- Add a Non-refundable deposit to the invoice by following the instructions above
Step 2: How to Redeem or Add the Retainer Fee to their Final Order
- Create a new invoice and add the previously created "Credit","Deposit", or "Retainer Fee" product to the invoice with a price of $0.00.
- Add any more products services or packages that are applicable to this invoice
- Add a global discount to the invoice by clicking on the Edit icon next to the word "Discount" in the lower right of the invoice equal to the previously entered amount
- Click on the Notes tab on the lower left corner of the the invoice
- Make a public note that says "Retainer Fee Applied to Balance"
- Save and close the invoice
Option 3: Transfer Payment From Original Invoice To New InvoiceThis option transfers the balance due from one invoice to another by using gift card payment/refund entries. Note: Using this option can cause problems with sales tax as it will refund the initial payment and sales tax and then apply a brand new payment to the new invoice cause a new sales tax entry - Click here for a tutorial on how to transfer the balance from one invoice to another
|
|
|