Let me share some information, JenPia.
Upfront deposits are liabilities. If you'll want to record it as income, you'll want to record the invoice payment directly. However, I suggest reaching out to your accountant on the best way to record the retainers.
I'll add the reference about managing upfront deposits to guide you better: Manage upfront deposits or retainers.
Feel free to reach out to us if you have other concerns. We're one comment away. Take care!
