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Quotes - Convert to a deposit invoice and remaining amount invoice

Ability to convert quotes into invoice & the remaining amount of invoices.

Purpose: Because it helps users invoicing workflow as they often have to keep a separate record of deposits sent / paid and manually calculate the remaining amount to invoice on completion of a project

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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  • Kevin Oswin commented  ·   ·  Report

    I am exploring transferring our quote generation from an external system to Xero however the benefits are not stacking up at present. Here is what I would need to get me over the line.

    1. We usually require a deposit at the time that the customer accepts the quote. It would be good to show the deposit required on the quote - for us this is usually 50% and we add that into the quote terms. It would be useful though to specify a percentage deposit in Xero and then show this amount at the bottom of the quote. My current quote system does not do this.

    2. When a customer accepts a quote online it would be great if the system then offered our payment services as a way of paying the deposit. To be clear we do not usually invoice for the goods until they are installed as this is when the warranty starts. At present we enter deposits as prepayments which are then allocated to the invoice when it is raised.

    3. As another option it would be good to have a "Pay Deposit Now" option on PDF quotes which then links through to our payments services with just the deposit amount.

    Thanks

  • Joel St John commented  ·   ·  Report

    I badly need the ability to do deposit invoices without using a project. The projects features are useless for my business as i dont do anything with time and materials. The costing expenses need to include outstanding PO's that are for a job.

  • Brenda Templin commented  ·   ·  Report

    Most contractors require a deposit and progress payments. This is very important to us and Xero does not allow this to happen in a seamless or easy manner. There should be a way to invoice the deposit and then have it convert to the future invoices instead of having to manually enter things and make sure you don't miss deposits/progress payments.

  • Catherine Lynch commented  ·   ·  Report

    It would seem there are several threads for this one idea. It's not being supported much, which I'm surprised at as this feature would be the ONE thing that Xero could do that would make life much easier.

  • Janice de Villa commented  ·   ·  Report

    Xero does not have the functionality to part-invoice a client for the value of the deposit or balance due.

    We often require 60% payment upfront, with the remaining 40% balance due prior to delivery.

    At present we issue proforma invoices and leave the client to figure out how much their 60% deposit is because Xero can't do this for us.

    From the Accounting side, our Accounts team often post the deposit as an overpayment, which makes it difficult to see if and when a deposit has been paid. it would be so much easier if we were able to issue a deposit invoice, followed by the balance invoice, and finally generate the final VAT invoice to the client when everything has been settled.

  • Shelly Kilford commented  ·   ·  Report

    I too have requested this option via Xero support.
    We have recently moved to Xero from Reckon and we issue deposit and progressive invoices. Reckon allowed for us to do this seamlessly by creating an Estimate/Quote first then 'flipping' it into an invoice for the desired amount (lets say 30% deposit). Then when the job was finished and we wanted to issue the balance invoice we opened the quote and 'flipped'. The Invoice would show that only 70% of the Estimate/quote balance was remaining. It was particularly helpful when we progressively invoiced balances of individual components upon completion.
    We moved to Xero due to all the hype but I must say the lack of this feature is a bit of a downer and really has doubled (if not trippled) the amount of work I have to do to create an invoice and ensure I don't miss an amount due.

  • Penny O'Toole commented  ·   ·  Report

    Please include the option of showing a deposit (part-payment) amount on a quote.

  • Catherine Lynch commented  ·   ·  Report

    Being able to raise multiple invoices from 1 quote based on % of the total or of lines on the quote would be a great feature for the above reason. We usually raise 3 invoices per quote with the 1st 2 invoices being 40% and the last 20% so the copy invoice created from a quote would be cumbersome. For large commercial jobs we can have 5 or more stage payments, so this becomes even more work. I don't know if the Projects feature will allow me to track this better, as I have not used it yet, but I would defo like to have this feature available