Receiving a deposit is receiving partial payment of goods or services in advance before selling goods or services, which is an agreement between the buyer in receiving advance payment to guarantee the sale of goods or services. In selling products or services, you can receive deposits in advance with all 3 steps as follows:

Step 1: Issuing a quotation for goods or services.

In this step, let us issue a quotation like a regular quotation for selling products or services by going to the menu "Revenue" > "Quotation" > "+Create"

In the list, enter the details as required and can add text, and payment terms in the "Remark for Customer" field, then press “Approve Quotation”

Step 2: Notify of the deposit or issue a deposit receipt

2.1 When the customer accepts the quotation, agrees to trade, or already providing services to the business, press “+Accepted” on that quotation

Then specify the date of acceptance of the quotation in the "Accepted date" field, then press "Confirm"

2.2 When accepting the quotation

Businesses wanting to collect deposits can do so by issuing an invoice or if a customer has paid a deposit and would like to issue a receipt to receive the deposit, this can be done by issuing a receipt.

Revenue Menu > Quotation > Accepted

Select the desired item “Create Invoice” or press the drop-down to select “Create Receipt”

In the case of this example, requesting to issue a receipt to receive payment, when clicking to select Issue Receipt, PEAK will retrieve information from the quote to make corrections as in the example below.

In the field "Account", select the item "212104" (Unearned - Deposit). Then you can add information in the field "Description", and specify "Amount of Quantity and Price/Q" as required.

Once the information has been entered, set the payment date in the "Payment Date" field, choose a payment method in the "Receive Payment at" field, type a note to the customer by clicking "Show more/less" and type details, then press "Approve Receipt"

Step 3: Receive the remainder by issuing an invoice for collection or issuing a receipt for the remainder.

To receive the remaining payment, go to the original list of documents as follows:

3.1 Revenue Menu > Quotation > Accepted

Then select the quote you want, press Create Invoice to collect the rest, or issue a receipt to receive the remaining payment.

An example is the Create Receipt.

3.2 Press “+Add New Item” to add a list of account fields, and select the chart of accounts as "212104" (Unearned - Deposit). You can add additional explanations, such as deducting 30% of the deposit, referring to the deposit receipt number XXX, etc.

Then enter the negative amount to be deducted from the previous deposit.

3.3 Total Net Value appears as the remaining amount to be paid by the Customer after deducting the deposit.
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3.4 Once the information has been entered, specify the payment date in the "Payment Date" field, choose a payment method in the "Receive Payment at" field, and then write a note to the customer by clicking "Show more/less" and typing in the details then press "Approve Receipt"