Great, so let me see if I have this correct:
1) Set up a deposit account under Current Liabilities called Deposits
2) Send customers an invoice with just the Deposit item, no HST, and have it linked to the account above
3) Also set up a Delayed Credit Memo of the same amount for that customer.
4) When service occurs send them the true invoice, dated properly, and then apply the delayed credit to the invoice and have them pay the remainder.
When I do it the first time I am sure it'll make it a little clearer; but when I apply the credit to the invoice how do I also zero out the deposit from in the liability account? (I am just confused on how the Delayed Credit and the Deposit in the Liability account are connected)
Again I really appreciate the clarity!
