Apply a customer deposit to an invoice

I'm using Sage 100 Contractor version 19.5.34.

I have customers that prepay a deposit amount up front.  Then I need to apply that payment to an invoice at a later date.

Currently I'm entering the initial deposit into 3-2 Receivable Invoices as a CR to the Prepaid Deposit account I created under Current Liabilities (DR A/R and CR Liability) - just one line on the invoice.  The customer then pays this lump sum and I receive payment as per usual (DR Cash and CR A/R) .

When the job is done, I compute all job costs and add/subtract a "profit or loss" amount so that the invoice equals the initial lump sum.  Now I need to apply the still existing liability to this invoice.  How do I apply that initial payment to this invoice? 

Thx

  • 0

    Sorry if my original response was unclear.  I was using my phone to post in a hurry.  I've cleaned this up a bit to make it easier to understand.

    The 3-2  CREDIT invoice can be posted as a type 2-memo (so it won't reduce the contract amount)  but down in the grid the post it to the cash account as the deposit.  No liability account used.   At the end of the job post an invoice for the full amount.  Then apply the original credit thru cash receipts.

    If you need to affect a liability account:

    Post a regular invoice for the deposit request (type 2=meno) but down in the grid post it to the liability account "customer deposits" where the subaccounts are by job.   Apply the deposit/payment of this invoice through cash receipts. 

    At the end of the job post another invoice (as type 1 contract)  for the full amount of the job on row 1, and then on row 2 put a credit called "original deposit" and code that to the liability account (it will clear the balance). The balance due on the invoice is what they owe.

    Or

    Post the final bill in full as type 1-contract.  Then post an AR credit (as a type 2 memo)  to clear the liability accounts balance.  This basically reverses the original deposit invoice which is why it should also be a type2-memo.

    At this point you can send a statement showing the invoice and the credit for the deposit. OR you can apply the credit to the invoice through cash receipts, and then re-print the final invoice showing paid amount and the balance due.