Is there a version that will allow me to make partial payments on a purchase orders? I am a manufacturer’s rep. When I send the manufacturer a PO, I must also send a 50% deposit with the order. In other words, if the PO is for a $2,000 sofa I must send a deposit payment with the PO for $1,000. Therefore, I need to track partial payment on POs as well as see the credit and balance due for each PO. I currently use QuickBooks Pro 2003. Is this possible in this version? If not, please let me know which version will accommodate this function.
In reality, you don't pay purchase orders, you receive the items then you receive and pay the bill. If you understand this flow of paperwork, your problem can be solved quite simply.
Follow these steps:
- Enter the purchase order.
- Go ahead and right click on the purchase order and select "Receive Bill"
- Now enter the bill as you expect to receive it.
- After entering the bill, right click on the bill and select "Pay Bills". Find the bill that you just entered and place a check mark beside it.
- In the column that says "Amt. to Pay" ... override the amount, so that the deposit you must pay is entered. Make sure all the dates are correct and enter the payment and cut the check.