Create & Send Retainer Invoices
- Lifecycle Of Retainer Invoices
- Enabling Retainer Invoices
- Creating a New Retainer Invoice
- Customer Details
- Item Details
- Payment Options, Terms & Conditions, Templates
Lifecycle of Retainer Invoices
|Draft||Retainer Invoices when created will be in Draft status before being sent to the customer.|
|Sent||Retainer Invoices once sent to the customers will be changed to Sent status.|
|Paid||Once your customers make payment for the retainer invoices raised, the status of the retainer invoice will be changed to Paid.|
|Partially Drawn||When you use a part of the retainer amount towards an invoice, the status of the retainer invoice will be changed to Partially Drawn.|
|Drawn||When the full retainer amount is used towards an invoice, the status of the retainer invoice will be changed to Drawn.|
Enabling Retainer Invoices
Retainer Invoices can be enabled in Zoho Books by navigating to Settings > More Settings > Preferences > General and checking the Retainer Invoices box.
On checking the box, a drop down of accounts will appear to record the retainer. As this will be recorded under a liability, in general it is preferred to set the account as Unearned Revenue and click on Save.
Creating a New Retainer Invoice
Navigate to the Sales tab and click on the + icon either next to the Retainer Invoices or the + New button placed on top of the retainer invoices list to create a new retainer invoice.
A new retainer invoice form will open where you can enter the details for creating a new invoice.
|Customer Name||This field should contain the name of the customer from whom you wish to collect a retainer. Either pick customers from the list you have already created or you can add a new customer by selecting the New Customer option.|
|Retainer Invoice number||An invoice number is an unique ID for the invoices created. This field generates an invoice number by default.
Click on the Settings icon next to the field and a pop up will appear where you can choose to auto-generate the invoice numbers or manually add the invoice number each time you create an invoice.
|Reference||You can enter a reference for the retainer being created. This will be displayed in the retainer invoice.|
|Retainer Invoice Date||Date on which the retainer invoice is generated.|
Details of the item or service for which the retainer is being captured can be typed in the Item Details field with the Amount to be collected as retainer.
Payment Options, Terms & Conditions, Templates
|Customer Notes||Enter notes relating to the retainer invoice which will be displayed on the invoice when sent to the customer.|
|Payment Options||Select the payment option that should be used for charging the customer or for the customer to make payment for the retainer invoice.
Click on Select Payment Modes to configure payment gateways directly from the invoice.
|Terms & Conditions||Customize the terms & conditions section that will be displayed on the invoice. You can also customize the terms & conditions by navigating to Settings > More Settings > Preferences > Retainer Invoices and fill in the Terms & Conditions box.|
|Template||You can also change the Template of the invoice, by clicking on Change and select another template you create.
You can create and edit templates from Settings > More Settings > Templates and selecting templates under Retainer Invoices.