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When a Customer is requested to provide a deposit on a construction project, that deposit should show up in the financials as a liability. However, liability accounts "lose" the project information. The project information can be input on a Receivables prepayment form, but the GL entry does not carry the project information.
I've tried using a nonstock item, starting with a Sales Order, starting with Run Project Billing, etc. The client does not want to recognize revenue until the end of the project and may want to accept multiple deposits. Creating an SO Invoice or AR Invoice is not desired but showing/tracking the deposits on the project is desired.
Suggestions?
Hi Jean,
Did you ever come up with a resolution here? Curious to hear what was the end result. Thanks!
Hi Kate,
My startup Acumatica ISV built a Deposit Invoice feature for Projects. It takes the concept to a whole new functional level and allows tracking deposits received, applied, and unapplied against a project.
https://trabeasoft.com/deposit-invoices
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