Deposits and part payments
A deposit is paid before the job, and a part payment clears some of an invoice. Work out what is still owed and record it.
This path is practice in how the records and the sums work. It is not tax advice. Any rate or allowance in a question is an example for that question, so check GOV.UK for the current figures.
Task 1Taking a deposit3 questions
A deposit is money the customer pays before the work starts. It covers you if they cancel, and it helps to pay for materials.
Show the deposit on the final invoice and take it off the full price. The customer then pays the balance.
Rhian quotes Alder Dental £1,600 for a website design. She asks for a deposit of 25% of the price before she starts.
Task 2Part payments3 questions
Task 3A deposit in the books3 questions