5 New Year Tips – Oh! I Forgot the Retainer

Tip #5 – Oh! I Forgot the Retainer!

Did you forget to apply part of the project retainer to an invoice? Relax! BillQuick handles this in a couple of ways depending on the situation.

Situation 1 – No Payment or Other Action

1. Tell your client to throw away the invoice you sent them.
2. Reverse the invoice on the Invoice Review screen.
3. On the Billing Review screen, apply your billing decisions including the portion of the retainer to be applied against the Net Bill Amount. (You can use the same invoice number or a new one.)
4. Generate the invoice.
5. Mail or email the new invoice to your client.

Method 2 – Client Changed the Net Due

If your client deducts the retainer to come up with a new net amount due, then cuts and sends you a check, you should:

1. On the Payment screen, pull up the invoice.
2. Choose a date for the record.
3. Select Use Retainer from the Pay Method drop-down list.
4. Enter the portion of the retainer you want to apply to the invoice.
5. Click Auto-Apply.
6. Click Save.
7. Repeat this process for the check.

Isn’t that easy?

Tags: Invoices, Retainers