How do I invoice a deposit and progress payments in Kontuly?
In Kontuly, deposits and progress payments are set up as a Payment schedule on a contract: each milestone has a share of the contract. Once the customer accepts, each milestone has its own Create invoice button.
- Open the contract while it's a draft or sent, with its priced lines added. See How do I write a contract in Kontuly?
- Click Add a milestone under Payment schedule.
- Describe each stage, for example Deposit, Design sign-off or Completion, with its Share % of the contract and, if you like, a due date.
- Click Save. The schedule is printed on the contract below the prices, with each stage's amount. The shares can add up to 100% or less.
- Record acceptance. When the customer agrees, click Accepted.
- Invoice each stage when it's due. Click the milestone's Create invoice. Check the draft invoice and approve it as usual.
What does a milestone invoice contain?
Every priced line at the milestone's share, each with its own tax rate, due on the milestone's date (or by your payment terms if it has none), with a note naming the milestone and contract. The milestone that completes a 100% schedule takes exactly what's left of each line, so the invoices add up to the contract to the cent.
The milestone's invoice number replaces its button. If you void that invoice, the milestone can be invoiced again.
What changes when a contract has a schedule?
- It's invoiced milestone by milestone only: the contract's own Create invoice and Start recurring invoice aren't offered.
- It can't be un-accepted once a milestone has been invoiced.
- It can't include tracked stock items.
Is a deposit income straight away?
Each milestone invoice is an ordinary invoice: approving it records the sale and its GST on its issue date. How to treat deposits for tax is a judgement for your accountant or registered BAS agent.
Related questions
- How do I write a contract for a customer in Kontuly?Write customer contracts in Kontuly from a template with merge fields, email them, record acceptance, then invoice once or on a schedule.
- How do I create a quote and turn it into an invoice in Kontuly?Write a quote in Kontuly, email it, record whether the customer accepts, then turn it into a draft invoice in one click. Quotes never touch your books.
- How do I create and send an invoice in Kontuly?Write an invoice in Kontuly as a draft, check it with Preview, then approve it to record the sale and email it to your customer with the PDF attached.
More about quotes, invoices and customers
- How do I add a customer or supplier in Kontuly?Add customers and suppliers to Kontuly's Contacts list, choose whether each is a customer, supplier or both, and archive the ones you no longer use.
- How do I record a customer payment in Kontuly?Mark a Kontuly invoice as paid by matching the deposit in Banking or recording the payment by hand, including part payments and undoing a mistake.
- How do I void or cancel an invoice in Kontuly?Void an invoice in Kontuly when it should never have been issued, or raise a credit note when the customer is owed some of it back. When each one fits.
- How do I give a customer a credit note in Kontuly?Raise a customer credit note from an invoice in Kontuly to refund or reduce what a customer owes, then apply the credit to an invoice or pay it back.
- How do I send a customer statement in Kontuly?Create a customer statement in Kontuly showing invoices, payments and what's still owing, with ageing, then preview it, save the PDF or email it.