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Xero Business Community

Xero Business Community

Hi everyone, Come on over to the new discussions in Xero Central. It’s a more intuitive way to connect and chat all things business with one another. Ask questions, dish out answers, and get involved.

You can still view topics in the Xero Business Community to see all the useful knowledge that’s been shared there; and you can restart conversations you feel have been of huge value to you on Xero Central.

If you have brilliant ideas for innovations, you can keep on adding feature requests in the Xero Business Community, and voting on existing requests. There’s more in store, as we come up with the best way to take on your thoughts and share developments
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Quickly steaming through Jan 2020, we're back with updates for you all here - With new invoicing delivered to everyone in 2019, hopefully you've all had a chance to explore the module, and adjusted to the flow for your business.

Of course, always easier look back and reflect - Retrospectively, we appreciate the beta period for new invoicing spanned much longer than expected there were a few nuts & bolts that needed to be adjusted along the way. In turn this has delayed developing improvements like Deposits that I know you're all vying for.
Looking further out there are a few crucial pieces of work like credit limits and multiple addresses that’ll be worked in as we continue to flesh out new invoicing - More recent additions including the ability to view balances on a contacts card within a transaction, attaching files within new invoicing, and the ability to remove expected payment date.

To relay the current options for those they can help right now,
- Projects (even if this isn’t for you right now, to get a sense of how deposits work there)
- Enter as Prepayments allocated to a suspense account
- Issue a Quote with full project break down and multiple invoices for deposits and final payments
- Record as a payment directly on the bill and use the payment reference to depict a 'Deposit'

There are other options that others have graciously shared throughout the conversation here too. Though I don't have any news of progress atm, we have our finger on the pulse of the request here and we'll let you know if there's anything around deposits to share.
 

Kelly M (Community Manager)

Best Reply as chosen by Cassidy Hall (Community Manager)
Here is how I get round this issue.

Create a quote, I change the layout header to “Sales Order” for my purposes which enables me to send it to the customer as a Sales Confirmation. Save it in Drafts (do not approve it) so it can be edited more easily later.

Add a new line for the deposit amount “important - use a minus figure”. You could at this point allocate the deposit line to a different nominal heading if you want to keep record of deposits you are holding.

Once this is saved (again - do not approve it) you can then create a sales invoice directly from the quote, delete the top lines to leave the deposit amount (changing the minus to a positive figure of course) and process the invoice as normal.

This gives you a sales invoice but more importantly, retains the original quote (with deposit details) in drafts preserved for later.

You can add unlimited interim invoices if you want (adding a new line in the Draft quote each time and using the quote to create the invoice).

When the job is complete you can then change the quote to Approved and accepted, then create the sales invoice which will automatically display the deposits (and any interim) previously invoiced.

Leave the deposit / interim figures as negative on the final invoice which will put the correct balancing items to the nominal ledger.

Note – I use Quotes for confirmed sales only. I do not use the system for all quoting; This gives me a full list of cash to come from orders, listed in Draft Quotes.

It's not perfect but working pretty well for me.
 

Jamie Townson