- Calendar & Activities
- Calculating Landed Costs
- Quote Form Templates
- PDF Templates
- Invoice Settings
- Managing Connections
- Creating Email Templates
- Creating Letter Templates
- Using Letter Templates
- Using SMS Templates
- Using Email Templates
- System Quote Preferences
- Payment Methods
- Payment Terms
- Setting up Teams
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- Setting up Users
- Activate a new User account
- Log into a User account
- Creating SMS Templates
In CRM, you can create unallocated payments against a customer without having to worry about the Invoice that is going to take final payment down the road.
However, what happens if you need to allocate a payment against a Sales Order that is not ready to be sent out (or invoiced) yet?
A Deposit Invoice in CRM is a feature that allows you to record a payment against an Invoice which does not contain any of the items related to the original Sales Order. This has a couple of major benefits:
- Full traceability of payments from your customers
- Keep information up to date between CRM and your accounting system
The first step is to make sure that you have the right deposit item set in CRM.
For this, you will need to go to Menu > Admin > General and then scroll all the way down to the section called Sales/Purchase Editor, there you will find the option to set your deposit item.
Keep in mind that CRM already contains an item called Deposit TE (which can be found under Menu > Inventory > Products), which is set as the deposit item by default.
Make sure you scroll to the bottom of the page and click on Update to apply any changes you make here.
If your CRM is linking to an accounting system, please make sure the right settings i.e. the correct tax rates and GL Codes are applied to the Product. You are free to create and set your own deposit Product, just make sure it is created as a product of type Ancillary.
In this example have Sales Order S-6 that contains the Products we are going to be sending to one of our customers at some point in the future, the full value of the order here is $110 including GST.
To allow a Deposit Invoice be created from here:
- Click on Edit
- Tick the check-box for the Allow Deposit field
- Enter a value into the Deposit Amount field (this will become visible once you have allowed a deposit)
- Save & Close the record
In this example, we will request a deposit of $55. You can always create a Deposit Invoice for the full amount, however you need to keep in mind that in the end, a final Invoice still has to be created to indicate that the goods have left your warehouse.
When you save the Sales Order, you will notice that a deposit amount is now specified and you have the option to generate your Deposit Invoice by clicking on Invoice on the toolbar.
Once you click to Generate Deposit Invoice you will be taken directly to the new Invoice (in this case I-8) . Keep in mind that this Invoice only contains one item, which is your designated deposit item indicating the deposit amount:
You can now allocate the respective deposit payment to your Deposit Invoice and send them both over to your accounting system.
Once you are ready to generate your final Invoice, you can go to the original Sales Order and generate an Invoice normally. In this example, CRM generated invoice I-9.
Keep in mind that this will contain the goods you are dispatching over to the customer AND a negative amount for the original Deposit Invoice.
Now you can send this Invoice across to your accounting system to indicate that the goods have left your warehouse.
Both invoices will show up under the Sales Order as shown below.