Forum Discussion

Twizzy's avatar
Twizzy
Contributing User
4 years ago
Solved

Receiving deposits/pre payments

Hello, Can anyone help with the following question - Do prepayments/deposits show up as sales for the particular month the prepayment/deposit is received? A customer wishes to prepay for some work to...
  • Melisa_D's avatar
    Melisa_D
    4 years ago

    Hi Twizzy, 

     

    Thank you for your post. Yes the deposit is reported in the month it is received. Our help article Customer prepayments has information and instructions on how to handle a customer prepayment within AccountRight, however if you don't want it to be reported when it is received I would recommend speaking to your accountant or financial advisor for an alternative or the ATO as there is specific rules for reporting deposits. 

     

    Please do let us know if you have any further questions.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Melisa_D's avatar
Melisa_D
Former Staff
4 years ago

Hi Twizzy, 

 

Thank you for your post. Yes the deposit is reported in the month it is received. Our help article Customer prepayments has information and instructions on how to handle a customer prepayment within AccountRight, however if you don't want it to be reported when it is received I would recommend speaking to your accountant or financial advisor for an alternative or the ATO as there is specific rules for reporting deposits. 

 

Please do let us know if you have any further questions.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.