How to record a deposit
[ Because of the importance of client deposits, generally, only the bookkeeper will enter client deposits into DesignSmart. You can skip this section unless you are the person who will record when clients pay a deposit.]
Step 1
Select Deposits from the Accounting drop-down in the Menu Bar.
Step 2
Click the Add Deposit button
Step 3
Click in the Apply to Proposal Number to see a list of active proposals. Click the proposal number for which the client is submitting a deposit.
Step 4
In the Deposit Amount enter the actual deposit the client is paying. If the client pays less than the Proposal Deposit Required amount, DesignSmart will automatically adjust the applied deposit amounts on the items on this proposal.
Likewise, if the payment exceeds the Proposal Deposit Required amount, the surplus will remain in the Client Deposit Balance until applied to a future invoice.
Step 5
Fill in the remaining fields
Step 6
Click the Send Payment to QBO (or Send Payment to QB) switch if you want DesignSmart to enter the payment into QuickBooks.
When to leave this switch off
If the client sent one payment for multiple deposits and/or invoices, including this deposit, then leave this switch turned off. In QuickBooks, record the payment you have received and apply it to the appropriate invoices, one of which will be for this deposit.
Step 7
Click the Continue button to record the deposit.
What happens when I click Continue?
- The proposal status is changed to Approved.
- The "Client Approved" Date for each item is set to the date entered in Step 5 above.
- Each item in the proposal is updated with the actual deposit amount received.
In the image below, a deposit of $1,131.61 was requested. That amount was received from the deposit and applied to this sofa.
To view the actual payment details click on the green circle with the "i"
