Quickbooks 2019 Tutorial for Beginners - How to Record Customer Deposits

Поділитися
Вставка
  • Опубліковано 29 жов 2024

КОМЕНТАРІ • 35

  • @QbuniversityOrg
    @QbuniversityOrg  5 років тому +1

    Feel free to leave a comment or question here!

  • @Kobus-PipePuller
    @Kobus-PipePuller 3 роки тому +2

    Very informative, thank you. I will use the first method for ease, but can you please let me know if i can then send a sales receipt for the deposit/prepayment from the customer/
    Thank you

    • @QbuniversityOrg
      @QbuniversityOrg  3 роки тому

      Think I answered you in the other comment

    • @Kobus-PipePuller
      @Kobus-PipePuller 3 роки тому +1

      @@QbuniversityOrg yes you did, thank you. Hedging my bets lol.

  • @madina8641
    @madina8641 2 роки тому +1

    @the Quickbooks University _ thank you so much for the video.
    If we create a line item for the deposit received in our sales order, is that going to impact our sales account?
    Also, instead of creating journal entry, can we create a line item with negative amount for the deposit in our final invoice?

    • @QbuniversityOrg
      @QbuniversityOrg  2 роки тому

      It will only impact revenue if in the Item set up you point the Deposit Item to a revenue account. You sure can do a negative instead of a JE

    • @madina8641
      @madina8641 2 роки тому

      @@QbuniversityOrg thanks for replying.
      I know creating a line item in the final invoice with negative amount to the liability account we created would reduce that liability account but how it would increase our AR?

  • @lindag5076
    @lindag5076 5 років тому +1

    Thank you , I’ll be watching this when I’m in the office this week, to enter it correct.

  • @emmanuelcorral7168
    @emmanuelcorral7168 4 роки тому +1

    I've never used Quick Books before so if my question sounds ridiculous or special I apologize in advance.
    I am using Quick Books Desktop 2019, I've been using roughly 2 months now. When using the "Record Deposit" option on "Banking" module and I deposit a payment received it simply records the deposit received from a customer to Quick Books only correct? Does it have any interaction with the actual bank? Meaning if there is no actual deposit of money/funds to my bank account.
    I've already received payments and I physically went to the bank and deposited that money myself. I only want to record on quick books that I've already received a payment for an invoice.

    • @QbuniversityOrg
      @QbuniversityOrg  4 роки тому +1

      Not a dumb question at all! You are correct when you make the deposit in Quickbooks it does not make the deposit in the bank. You have to physically deposit it in the bank

    • @emmanuelcorral7168
      @emmanuelcorral7168 4 роки тому +1

      @@QbuniversityOrg Thank you very much! Your response really helped me out, I appreciate it.

    • @QbuniversityOrg
      @QbuniversityOrg  4 роки тому

      Emmanuel Corral you’re welcome!

  • @masudshambo839
    @masudshambo839 8 місяців тому +1

    Whwn. Making deposits, there is a field at the lower left corner which says "cash goes back to" Making u to choose an account. Which account are you selting there and when are you using that?

    • @QbuniversityOrg
      @QbuniversityOrg  8 місяців тому

      You only use that field if you take cash from a deposit. For example if the total deposit is $100 and you get $10 back to put into petty cash you put the $10 down there and put it to petty cash

    • @masudshambo839
      @masudshambo839 8 місяців тому +1

      @@QbuniversityOrg what then is the implication of putting it into "retained earnings"

    • @QbuniversityOrg
      @QbuniversityOrg  8 місяців тому

      That just wouldn’t make sense. You would mess up your books

    • @masudshambo839
      @masudshambo839 8 місяців тому +1

      @@QbuniversityOrg and again if I have already put it up in retained earnings, how do i reverse it?

    • @QbuniversityOrg
      @QbuniversityOrg  8 місяців тому +1

      Go into that deposit and change the cash back account

  • @linnettejoshua2375
    @linnettejoshua2375 Рік тому +1

    Good information

  • @seamslatasha3598
    @seamslatasha3598 4 роки тому +1

    Hi, thank you for this video! I'm trying to figure out how to acknowledge the deposit and balance for the client.
    Could I record the deposit in a sales order as a negative line item and give that to the client as a receipt? And then when the balance is paid issue an invoice from the sales order (that has the customer deposit as a negative line item) and would also reflect the balance payment as well. So in the end, the client receives a sales order for the purchase and acknowledgement of the deposit and then an invoice for the purchase, deposit and balance payment.

    • @QbuniversityOrg
      @QbuniversityOrg  4 роки тому +1

      Yeah that could work. I would just test it out to make sure it works but it sounds like it should

    • @seamslatasha3598
      @seamslatasha3598 4 роки тому +1

      @@QbuniversityOrg thank you for your response.

    • @QbuniversityOrg
      @QbuniversityOrg  4 роки тому

      @@seamslatasha3598 you’re welcome!

    • @madina8641
      @madina8641 2 роки тому

      @the Quickbooks University _ thank you so much for the video.
      If we create a line item for the deposit received in our sales order, is that going to impact our sales account?
      Also, instead of creating journal entry, can we create a line item with negative amount for the deposit in our final invoice?

    • @madina8641
      @madina8641 2 роки тому

      @@QbuniversityOrg @ thank you so much for the video.
      If we create a line item for the deposit received in our sales order, is that going to impact our sales account?
      Also, instead of creating journal entry, can we create a line item with negative amount for the deposit in our final invoice?

  • @pennyvandevender9031
    @pennyvandevender9031 3 роки тому +1

    We bill every month what if the up-front deposit is more than what she owes at billing?

    • @QbuniversityOrg
      @QbuniversityOrg  3 роки тому

      Can you leave it as a credit to applied the following month?

  • @shucaybharfe8649
    @shucaybharfe8649 4 роки тому +1

    I use quickbook 18, when i tried to do like this transaction i lost apply credit from my qb 18
    Help
    I don't know what is it wrong to me ?

    • @QbuniversityOrg
      @QbuniversityOrg  4 роки тому

      Thats odd. This method should work in QB 2018 as well?

  • @seamslatasha3598
    @seamslatasha3598 4 роки тому +1

    3:57 2nd way.

  • @cyrusdenlaoso4644
    @cyrusdenlaoso4644 3 роки тому

    How to record a split deposit from online banking?

  • @superjtrdr
    @superjtrdr Рік тому +1

    How do I link the deposit money to the customer invoice I created before I had an understanding of all this?

    • @QbuniversityOrg
      @QbuniversityOrg  Рік тому

      Watch this video
      ua-cam.com/video/cGF_rKkgezI/v-deo.html