Re: Is there a way to make partial payments towards an invoice?
Posted
05-28-2020
Hi there, @LiaJmt - thanks for adding your voice here and checking in on this feature! Good to hear from you. Same to you, @BIONICONE - welcome!
You may be looking specifically for our newly introduced Deposit Feature for Invoices. This will also allow you to create a single invoice to track multiple payments and reduce the amount of time you have to spend reconciling multiple payments (deposit, follow-up payments) to a single transaction or sale.
We are also in need of this feature! Our business is a brick & mortar location (and online soon!) that has a mix of offerings: we repair (service, no sales tax), create custom products (sales taxed), and retail items (sales taxed). For the first two, we have started to implement a half-down requirement for repairs over a certain dollar amount threshold and for all custom orders (most items are personalized and cannot be resold). Our problem is that there is not an easy workaround for custom orders that have sales tax added to them. We have tried to create two tickets for the customer - one for the down payment and one for the final payment. Then, we created a modifiable discount ($) that we use in the final ticket and a modifiable product called "down payment" that we use for the initial ticket. This works okay for untaxed repairs, but it won't calculate sales tax correctly for our other items. We do not invoice our customers; we take a down-payment when they order (usually in-person) and take the final payment when they pick up their item (the time frames vary significantly). Invoices aren't helpful because we only give an estimated pick-up date and doesn't solve anything because they pay on pick-up anyways. We are thinking about creating a product called "tax" that we manually enter our calculated tax and turn off the sales tax option for these products. Of course, this is just a workaround and causes some extra work for our accounting backend. So, we would definitely love to see a down payment option! In the meantime, hopefully this workaround will be useful to other sellers.
Thank you for your post! We are experiencing the same thing. Great idea with item "tax". It does create a huge headache when I process our sales tax every month. Hopefully, Square comes up with a solution.
@CHeartSaddlery I have used the discount feature for pre paid or down payments. Add a discount with a 0.00 dollar amount. Charge full price and enter the deposit amount as the discount. Call it pre-paid and alert your accounting of the bogus/altered discount code. If you dont add tax to the deposit at time of collection then you will need to add this as a Tx/Fee or "additional tax associated with deposit". Unfortunately, it also reduces the tax when you ad the discount so you have to manualy add the additional tax back into the transaction. I too sell mutiple services and items on one ticket, some are taxed others are not. Some are paid with partial payment, others are payment if full. I too would benifit from a modified option.
Hi @kjs108, I moved your response to another thread where we're tracking this request. May be some helpful information in the previous pages here. Thanks!
How do you create the option for customers to have split payments on with invoices. Like if they want to pay half up front and then the other half on the due date?
Welcome to the Community, @Mmaandtowing. I've moved your post to this thread, as it's an existing topic. Check out the responses on the first page. Thanks!
