With all of my client-facing projects I require a deposit up front which I apply to time logged later. I suspect a lot of you work like this as well, because I get a lot of questions about how to go about doing this with Cashboard. It’s quite easy to do, here’s how I work.

1. Create an invoice for the deposit amount
2. Accept the payment online or via check, (which is usually applied to the deposit invoice)
3. Work on the project…log time, etc.

When the time comes to invoice for the hours logged I delete the original invoice but keep the existing payment. I then invoice for my hours worked, and apply the existing payment to the new invoice.

Simple enough? :)

This is simple enough, but I think I’d still like the system to know that it’s a deposit and hold it. While, I don’t really mind adding an invoice for the deposit, it does create extra work.

I’d also like to add notes to a payment like check number or something.

I understand this workaround, however, what can I give my clients as a receipt for payment (payment with a check) until I do the work and invoice them as paid? Or do most of you handwrite receipts?

I know this is an old topic, but have just sent out 3 invoices for deposits, and would love to be able to keep track of that sort of information in the system properly. The work-around works, but as robby said, I’d love the system to handle it as a deposit.

I say yes to this as well….my partner does the accounting end and he gets testy when the deposit money is floating in limbo land. Creating the invoice for a deposit and then deleting and reattaching to the proper invoice causes issues if you have a lot of work flying out the door as we do. It gets too confusing to remember if you created the deposit invoice and/or deleted the right thing. Thx Seth! T

Yes, let’s keep this issue in the limelight. Cashboard is so slick in so many ways… but this is one part that’s still just klunky!

I’m thinking specifying deposit terms right on the estimate might be the way to go.

Then along with indicating agreement, they could pay the deposit online – just like an invoice. Slick or what?

It makes sense to have it as part of the estimate, because generally you pay a deposit on an already calculated total (ie an estimate!)

As long as the deposit can also be functional with accounts that don’t have clients logging in (so manual controls), I’m all for it!

http://twitter.com/cashboard/statuses/873202385

Excellent!

Seth, is it possible to convert previously accepted deposits to this too?

You can manually attach any payment to an estimate as long as the payment and estimate belong to the same company – so yes.

You’re also able to attach multiple payments to one estimate as well. How practical that is in real-life I’m not so sure, but best to be flexible I suppose ;)

I’m just polishing up the estimate payments online feature and will probably get this pushed live by the end of the week.

Here’s a revamped example of the edit / new payment screen…

And a look at the revised payment list table…

Will go live this evening.

http://info.getcashboard.com/topics/accept-deposits-for-estimates

Much rejoicing! Thanks Seth!