Skip to content

Customer deposits

A deposit is a payment for goods or services that you haven't invoiced the customer for yet. This means if you receive a payment against a sales order, it's considered a deposit. This also applies to deposits you've paid to suppliers.

Need to print a receipt for a deposit? See Printing payment receipts.

Just started using a new company file?

If you've taken customer deposits for orders yet to be fulfilled, you'll need to enter these pre-conversion deposits.  

How AccountRight treats customer deposits

Because no goods or services have changed hands or invoice ussued, AccountRight treats deposits differently to other payments. A customer deposit is typically posted to a liability account because it's not yet considered business income. When the sales order is converted to an invoice, the deposit is transferred from the liability account to your trade debtors account.

To set up AccountRight to track customer deposits, or to check the liability account used for deposits, go to Setup > Linked Accounts > Sales Accounts.

Track deposits collected

Recording a customer deposit

If the deposit is paid

do this

when the order is created

enter the deposit amount in the Paid Today field on the order

after the order is created

use Receive Payments to apply the deposit to the order

You can either print a payment receipt or give the customer a copy of the order as a record of the deposit (open the order and click Send to then choose Email or Disk).

Deleting or reversing a deposit

How you delete the deposit depends on the sales order.

If the sales order has NOT been converted to an invoice

You can simply reverse or delete the deposit as follows:

  1. Open the order (Sales > Sales Register > Order tab > click the zoom arrow to open the order).

  2. Click History to display the payment transaction.

  3. Click the zoom arrow to open the payment transaction.

  4. Go to the Edit menu and choose Delete Payment (or Reverse Payment ).

The ability to delete or reverse is set in your AccountRight preferences (Setup menu > Preferences > Security tab > Transcations CAN'T be Changed; They Must be Reversed).

If the sales order HAS been converted to an invoice

You can't simply delete the deposit; the invoice will first need to be reversed. This provides an audit trail of the transaction and allows the deposit to be refunded.

The tasks below show you how to do this.

The scenario we'll use is where an order has been created and a deposit applied, then the order is converted to an invoice but is subsequently cancelled.

If you need to reverse the deposit because the wrong amount has been applied, after completing the steps below you'll need to recreate the order and apply the correct deposit amount.

FAQs