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How to Handle Progress Payment Terms in QuickBooks
Published 01/12/2010 | 
1. If you haven’t already, activate progress invoicing at Edit > Preferences > Jobs & Estimates > Company Preferences.
2. Click the Create Invoice button at the top of your estimate.
3. You can create an invoice based on a percentage of the entire estimate or different percentages for each item on the estimate.
4. Enter the terms for the first progress invoice .
5. Create additional invoices for the other progress payments using the different terms. Note: if you are using 2009 or 2010 you can duplicate an invoice by going to Edit > Duplicate Invoice
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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Is there a way to set up progress payments to a vendor in Quickbooks, In this case, I am the customer who is paying a vendor for merchandise under terms (25% down, 25% delivery, 25% net 30 and 25% net 60). for the first two payments I am using the write check window and hitting Accounts Payable, when I receive the bill from vendor and I have entered the invoice, I apply the 1st two payments to the invoice and I continue to pay the remaining two payments using the pay bill window. The problem is that using the write check option for the 1st two payments, the system can not detect if these payments have already being issued, causing a double payment. and this is what I wan to avoid, since detecting the error may take about 2 or 3 weeks and adding an additional week for vendor to return overpayment.
Hi Natalia,
When you enter the bill make sure to set the credits created by the first two payments. The Set Credits button is normally grayed out, but it lights up when there are credits that need to be applied. It also shows you how many credits there are and the amount available.
Ruth