Accepting deposits/part payments

In your chosen bank account select 'Add Manual Money In'

In the drop down menu next to Type, scroll down to the Money In bit and you will see it there

Ah yes. I've found it. Thanks.

So Ryan, am I right to assume that you do you not issue an invoice when you receive a downpayment? Do you send any kind of acknowledgement instead, like a receipt?
The way I've been dealing with this, as my clients tend to request an invoice, is that I issue a (non-payable) invoice upon receipt of the funds, so then I have an invoice to apply the deposit to. I usually take another payment mid-way through the project which I invoice for, and then a final invoice at the end. At the moment I just have to make the invoices out to reflect the percentage of the contract that is still billable, and I make these calculations myself, but I look forward to the day when this is built into Freeagent, which from what I hear the team are working on something.
There is also the added complication of the fact that the deposit should be counted as a liability as mentioned in this thread but I'm just going to ignore that for now, esp since I don't charge VAT !

Emily,

That's how I was intending to do it yes. Just invoice the client with a non-payable invoice for the deposit.

It will be very nice when this is built in. :-)

Hi Ed
How's this issue coming along ? And when it is will the deposit be able to be visable and reconciled as a reduction on the invoice ?

Hi Ed,

Any news on this feature you mentioned above to handle deposits? Do you have a timescale as to when you are looking to add it?

Cheers,

Chris ( Just paid my first payment to you! )
Vizioz Limited
Umbraco Development Blog

Just to follow on that I'm keen for this feature to be implemented too. Some of my clients pay by monthly standing order in advance.
Cheers,
Chris

I would really like this feature as well.. As a designer, I ask my clients to deposit a percentage before I start working, another percentage on approval of the website, and the balance when the site goes live.

If I create an invoice, adding payments towards that invoice, I'm going to be in trouble with the (due-)date of the invoice, since most of the projects are not done within the 30 days.

I would suggest that we can add payments towards estimates, and with or before the last payment the estimate will be converted to an invoice.

Thanks!

I'm evaluating FreeAgent right now, and this is a critical feature for me too - like Mark above, nearly every one of my client engagements involves an advance deposit. Any word on when this may be supported?