Since there isn’t an automated way to track upfront deposits or retainers, you’ll need to manually track them in QuickBooks. These are the to do list:
- Create a liability account to track retainers.
- Add a new retainer (service/non-inventory) item.
- Add a new trust liability bank account (from your Chart of Accounts).
Resolution for 'advanced payments issue: 'Settle short term debit with an invoice' available: Yes.
The advanced payments issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the advanced payments issue yourself by looking for a resolution described in the article. If it is a complex advanced payments issue or you are unable to solve the issue, you may contact us by clicking here or by using other advanced payments support options.
For more information about resolving issues related to advanced payments in Quickbooks/QBO or to get support for the issue 'Settle short term debit with an invoice', click the link below: