Client pays an invoice in installments
AmyDownes
Member Posts: 2
I recently send a client an invoice and they paid half of this one month, and the other half of it the following month. I am wondering how I record payment in this case? If I simply use the date of the first or second payment, I am worried that I will leave my books looking incorrect / confusing. Is there a simple solution for this? Many thanks!
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Hi, @AmyDownes.
There are two ways you could do this. You can just record partial payments in Wave, so you can just record those installments separately. Alternatively, you could set up recurring invoices for those installments. They would be treated as separate invoices, and you can set it up so that only a certain number of instances are ever sent out.
Let me know your thoughts on this. I'm happy to help you set up your recurring invoices if you choose to go that route.
Hi @Alexia thanks for this. Would you mind helping me set up the recurring invoices? It's just a one-off - 1 invoice went out several months ago and the balance was paid in 2 instalments. Thanks, Amy
Hi, @AmyDownes.
If it was already sent out and paid, it's not necessary to set it up as a recurring invoice at all. If the transactions already exist in your Transactions page, just assign them both to "Payments for an invoice made in Wave" and choose the right invoice.
If not, go to your Invoices page, click on the arrow next to that invoice and click Record Payment. You can do this twice and date the payments appropriately.