I'm trialing your accounts program, and so far it appears to be just what I need. However, I do need to be able to do one more thing, which I have not found how to do.
Please could you let me know how I can accept a payment from a customer that exceeds the total amount of all current invoices outstanding? E.g. A customer pays for my services 6 months in advance, while the invoices are made after each time the service is provided. This should put the customers account in credit, then I use that credit to clear the latest invoice once produced.
Hope this makes sense and you'r able to help me.
Yours Faithfully,
Ed
Hi Ed,
Unfortunately there is not a simple way of recording prepayments in Solar Accounts (we aim to improve this in future). Here's what you do:
Say your customer pays £600 for services to be delivered over 6 months. Record 3 initial transactions:
1. An invoice for £600
2. A credit note for £600. This should be a 'mirror image' of the invoice using the same account and VAT treatment as the invoice in step 1. The simplest way to create this credit note is to right-click on the invoice, select 'Copy', then change the Document Type to 'Credit Note'.
3. Record an invoice payment for £600 and apply it to the invoice you created in step 1.
Then each month, create two new transactions:
4. An invoice for £100
5. Apply £100 from the credit note you created in step 2 to the invoice from step 4. To do this, right-click on the credit note and select 'Allocate Credit'. Set the Amount To Allocate to £100 and tick the invoice to be 'paid'.
I hope this makes sense - let me know if you need more information.
Regards,
