Invoice for deposit ONLY

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3 comments

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    Brittany

    Thank you for sharing this invoicing and VAT feedback.

    There is certainly room for us to improve when it comes to handling VAT in Checkfront, but we don't have a timeline on when we could get to undertaking such a project.

    For now, the closest solution I can think of would be to create items that represent the 'deposit' cost and alias them with the respective full-priced item. Then, customers would book the deposit version item and later you would manually switch the booking to contain the official, full-priced item.

    Without knowing how you manage your accounting and invoicing, this concept should help get you in the right direction. Please feel free to reach out if we can assist further.

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    F - hotspots2c

    Yes, deposits are an important part of tours and bookings that have larger shopping cart rates.  Easier says to request for deposit amounts separately and invoicing for deposits received should be more specific to help our accounting understand the 'reserved' and 'completed/paid' bookings better and easier.

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    Marilyn

    We have chosen to use and integrate checkfront with quickbooks online to solve this dilema.

    In checkfront integrations, go to quickbooks and toggle the invoice date to equal trip start date, In quickbooks, this post dated invoice automatically gets made to match the start date of the tour.  Now your taxes will not post as payable until the tour start date.  Quickbooks Accounts Receivable will show as a negative for this person until the trip date once he pre pays in full in advance.

    In quickbooks at year end I do a report for all the negatives in the A/R, add them up and do a journal entry against advance deposit. That way at year end, I know how much money isnt really mine! The the day after year end do the reverse entry and your books are set.

    I am using Check front this way and its seamless and the reason I chose checkfront over all the others.  I don't try to use checkfront as an accounting tool, but rather a booking tool, then let quickbooks online do all that heavy lifting.

    Hope this helps. Cheers from Vancouver Island.

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