Do you bill your clients for a lump sum at the start of a project? Do you credit that amount back to them on future invoices? See the steps below for how to handle deposits.

Entered a deposit in QuickBooks

Logged a payment in QuickBooks

CREATING A DEPOSIT INVOICE

Start by generating an invoice for the deposit amount. Select "+ New Invoice" on the Invoices page of the project. Fill out the relevant introductory fields including who to issue the invoice to.

Learn More: Components of an Invoice

To account for the deposit, fill out a description for the first "Line Item" to inform your client about the charge. Enter in the amount of the deposit in the amount field.

Note: An accounting code is NOT required.

Finalize the details of the invoice and preview to see the final copy before sending. Issue the invoice!

Connected to QuickBooks? Depending on your settings, the invoice will land in QuickBooks once you select "Issue Invoice" OR upon your manual decision.

CREDITING DEPOSITS BACK TO CLIENTS

Looking to credit the initial deposit amount back to your clients on future invoices? Simply start by generating an invoice to your client. Regardless of your financial structure, proceed with creating an invoice like normal.

Learn More: Creating an Invoice

To issue any credit from the original deposit, select "+ Add" under the Line Items section of the draft invoice. Provide a description to explain the credit. Under Amount, input a "-" followed by the amount being credited to your client from the original deposit.

Note: An accounting codes is NOT required.

The system will properly account for all the math, including any impacts on profit, markups, or tax. Issue the invoice when all the details are finalized.

WHAT IF I ALREADY...

Already accounted for a deposit following steps outside the steps above? Find the scenario that matches your situation below, then follow the steps listed to remedy your data.

I already entered a deposit in QuickBooks

CoConstruct payments connect to any "receive payment" or "sales receipt" logged in QuickBooks. If you've already entered a "deposit" in QuickBooks, follow the steps below:

In QuickBooks, delete the deposit

Note: Consult with your bookkeeper or accountant to reconcile these actions
Follow the steps above for creating a deposit invoice in CoConstruct.
Issue the Invoice and push to QuickBooks
Record the client's payment against the QuickBooks Invoice

You'll see the corresponding payment logged against the original CoConstruct invoice and recorded to the project.

I already logged a Payment in QuickBooks

Seeing a negative Amount Due on the CoConstruct Invoice page? Do you have the deposit amount already added as a QuickBooks payment that's been pulled into CoConstruct?

Without a corresponding invoice to match up to the payment, CoConstruct reflects a negative amount due. Here's how to align your numbers:

On your Project Setup, turn OFF any automatic sync of Invoices. Uncheck the box for Invoices.
Create and issue the deposit invoice in CoConstruct per the steps above. Note: sending an invoice to your client is optional
Open the invoice and mark it as paid.

Once these steps are complete, make sure to readjust your automatic integration settings with QuickBooks. You are all set to continue invoicing and offering credits from that deposit on future invoices.