Software: MoneyWorks accounting software
A Sales Order (a.k.a. Sales Confirmation Order) issued from the seller to the buyer upon receiving the purchase order. It shows the products and services, the payment terms and delivery detail, etc.; which also sometimes use it to collect a deposit from the buyer.
To use the sales order for collecting deposit; first, you need to create a deposit item and link it to the deposit received account (current liabilities) before process the order.
Once order processed, the system brings up the deposit wizard which allows entering the deposit amount and the deposit item. A receipt with the deposit item will then records in MoneyWorks; it debits the bank and credits the deposit receive account.
The deposit received will later less off from the sales invoice when goods and services delivered.
The Sales Order is useful for tracking both deposit and backorder. The order moves to the Sold section once it has fully invoiced. Sign up a demo to find out how to use MoneyWorks for your business finance.