Scenario: Your customer had paid a deposit for a product or service they want. The deposit is then registered under the customer's company A. But later on, the customer would like to apply deposit as payment to company B which is own by him too.
Before further explanation on how to deal with such scenario with TreezSoft cloud accounting software, you will need to make sure both company A and B are registered as your customer in your TreezSoft account. As TreezSoft uses a series of automation and integration to ensure all data are synchronized and updated instantly accross our user's account.
In such scenario, you simply need to make a refund for the deposit that's under company A, and register the amount as received payment under company B. You'll just have to refer the received payment to the refund maded on the deposit for company A.
You can follow the step by step guide outlined below.
Step 1: To create refund, navigate through: Customer > Refund and Credit > Refunds. Click on the “New Refund” button at the bottom right corner.
Select “Security Deposit” in type column and select the customer that is transfer from. Enter the details. You can enter the details or reasons in Remark column for reference. Tick the box next to payment/ credit notes to apply refund. Click on “Save” to confirm and proceed.
Step 2: To create receive payment, navigate through: Customer > Receive Payments. Click on the “New Receive Payment” button at the bottom right corner.
Select “Invoice Receipt” in type column and select the customer that would like to transfer to. Enter the details. Please make sure the amount that entered is same with the amount in refund payment. You can put the refund payment number in Remark column for reference (Optional). Click on “Save” to confirm and proceed.
Fields marks with asterisk (*) are required fields.
You can read more on payments in TreezSoft by visiting these links:
Visit these links to read more on invoices in TreezSoft:
TreezSoft is a cloud accounting software that aims to increase our clients efficiency in their business financial health management. We do so by integrating and automating accounting processes as much as we can (e.g. integration between our accounting software and POS system and double entry). we also allow users to create unlimited users for FREE for your account in TreezSoft.
Visit TreezSoft at http://www.treezsoft.com/ to sign up for a 30 days trial account with us!
You can also email us at [email protected] for more enquiries.