Deposits Received in Advance

For many businesses, it is common to require the customer to pay a deposit in order to secure their booking. In some cases, this can occur months, or even a year or more in advance. Depending on the size and preferences of your organisation, this may require special handling in HirePOS, especially if you wish to raise an individual invoice for the deposit amount.

Managing Deposits Received in Advance

Creating the 'Main' Booking

  1. Create a New Booking, or select an existing one, which includes all the goods and services that are required for the job.
    (This Booking will be converted to the 'final' Invoice leading up to the event.)
  2. Add a new item line to the Booking for the initial deposit as a negative value, e.g:
    1. Item Description: Deposit
    2. Qty: 1
    3. Each: -500
If you export to an external accounting suite (Xero, MYOB), you will need to set up an actual Item in Setup > Items to use on this line, otherwise the invoice will not export. Otherwise you are free to openly write a description on an empty invoice line.

Create the 'Deposit Invoice'

  1. Create a New Invoice for the 'Deposit' only. 
  2. This Invoice will only have one item line, e.g.
    1. Item Description: Deposit for booking #1243
    2. Qty: 1
    3. Each: 500
  3. This new invoice can be emailed to the customer if required, and the deposit payment can be marked off against it.

Notes

  • If additional progress deposit payments are required in the months leading up to the event, a new Invoice should be raised for each deposit, and a negative value line added to the Booking.
  • The original Booking can have adjustments made at any time up to being converted to the final invoice just prior to the event.
  • Any damages or adjustments after the final invoice should be created as a new separate invoice.


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