Partially paid invoice
Calvinsalt
Member Posts: 3
Hi all,
I would like to ask how can I manage a partially paid invoice.
I issued a invoice to a client for providing a service for a year. The client paid me half of the price (with mutual agreement) and the job was complete earlier than expected. I don't see that I am able to have the full payment as stated in the initial invoice. How can I deal with the invoice as the income is according to the invoice value but I didn't received the whole money.
Thanks for any help!
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Comments
I'm not sure I understand @Calvinsalt. So you have this invoice for the full price that you've sent to your client. You recorded a payment to it that wasn't the full amount they owe you, so the invoice is marked as partially paid. You'll just be adding a second payment for the rest whenever it's finally paid off. You can have multiple payments for one invoice.
Thank you Orion Renell for your feedback! Sorry that English is not my mother tongue. What my situation is that there will not be 2nd payment. The job finished early and the client only paid some of the money. How to deal with the difference of the invoice amount with the amount received?
That's totally alright, @Calvinsalt. You can just adjust your invoice after the fact. So say you invoiced for $1000, but end up charging $800, you can edit that invoice and add an item called "Discount for finishing early" or something and price it at $-200.
You could also make estimates instead and wait until you know the final amount before sending an invoice.
Oh yeah, thanks Orion Renell , that solves my problem.