We’ve rolled out several updates, including new view and edit states, refreshed action buttons and statuses, and transitioned some modals to full-page views.
Deposits
Using Buildertrend's Deposits will allow you to create client deposits and apply the deposit payments to future invoices. This will ensure that the job running total will accurately represent the payments received and applied to the client's job total.
Deposits Overview Help Video
Generating a Deposit from scratch
Begin by selecting a Job, then navigate to Invoices from the Financial dropdown.
Next, select Deposits tab and click + Deposit.
Fill out the deposit Information and include any Attachments to provide detailed information.
Use the Flat Fee or % of contract price to set the amount of the deposit requested.
Select Save & Close to keep the deposit internal, or select Send deposit request if you are ready to send the deposit out to your client.
Once you have created a deposit, you can track it's status from the Deposits dashboard.
*If you are integrated with QuickBooks Online*
For information on how to push your Deposit Payments to QuickBooks, check out this article.
For information on how to reconcile your Deposit Payments in QuickBooks, check out this article.
Paying Deposits
If you are enrolled in Buildertrend Payments, your client can pay for the deposit directly in Buildertrend through the Client Portal.
Click here to learn more about Buildertrend Payments, or email our support team directly at paymentspecialists@buildertrend.com to learn more.
By navigating to Invoices from the Financial header, the client will click the Deposit tab.
From the Deposits dashboard, the client simply needs to select the deposit and click Pay to pay for the deposit.
If you are not enrolled in Buildertrend Payments, you can record a payment manually after receiving the client's deposit payment. To do this, open the deposit after it has been created, and select Record Offline Payment.
Applying Deposits to Invoices
Throughout the invoice process, you can apply the deposit payment to invoices as a payment to the invoice.
For detailed instructions on creating an invoice, check out Generating an Invoice.
Option 1: Apply the deposit payment from the deposit
From the Deposits dashboard, select Apply to Invoice next to the paid deposit.
From the Apply to existing Invoice modal:
Select an existing invoice.
Specify how much of the deposit payment amount you'd like to apply to the invoice.
Option 2: Apply the deposit payment from the invoice
From the Invoice dashboard, open an existing invoice and select Apply deposit.
From the Apply to existing Invoice modal, specify how much of the deposit payment amount you'd like to apply to the invoice.
When you have applied the total deposit payment amount, the status of the deposit will change to Applied.
Converting a Lead Proposal payment to a Deposit
If a Legacy Proposal is created on a Buildertrend Lead and a payment is made utilizing Buildertrend Payments, you will be able to convert that payment to a Deposit when the Lead is converted to a Job.
For more information on converting a Lead to a Job, check out this article!
From the Create a Job > Copy Lead Info to New Job modal:
Select the Proposal containing a payment.
Choose to Copy Proposal Payment to Job
Select Copy to deposit
Credit Memos
Credit Memos are used to apply a monetary credit back to the client, applicable within Owner Invoices.
Scenario: I made a mistake that extended the duration of my project. To make it right with my client, I’m giving them $500 off their next invoice.
Workflow: Builder adds a $500 Credit Memo and applies it to the client's next invoice.
Result: That credit is counted towards the client’s payments and is displayed as such on the invoices tab.
*Note: A Credit Memo does not reduce the Job Running Total. A negative Change Order would need to be accepted in situations where a builder would want to reduce the Job Running Total.
Creating a Credit Memo
Begin by selecting a Job, then navigate to Invoices from the Financial dropdown.
Next, select Credit Memos tab and click + Credit Memo.
Add the Credit Memo Information such as the Title and Description. The ID# will auto-assign, or you may add your own if preferred.
Choose Flat Fee or Line Items to add cost information.
Selecting Line Items will allow you to enter multiple line items broken out by Cost Codes.
Selecting Flat Fee will allow you to enter one amount for the entire Credit Memo and will not include Cost Codes.
*If integrated with an accounting platform...*
For steps on pushing a credit memo to QuickBooks Online, click here.
For steps on pushing a credit note to Xero, click here.
Applying a Credit Memo to an Invoice
Applying the Credit Memo to an Invoice can be done within the Buildertrend Credit Memo, within the Buildertrend Invoice, or from your accounting software.
*Note: Credit Memos may be applied to only one invoice at a time. If the Credit Memo amount exceeds the Invoice amount, the Credit Memo may be applied to another Invoice until the memo balance is $0.
Applying the Credit Memo from the Credit Memo
Open the desired Credit Memo, then select Apply to Invoice.
Applying the Credit Memo from an Invoice
Open the desired Invoice, then select Record payment from the Pay dropdown.
Select Credit Memo from the Payment Method options, choose the credit memo, then select Record Payment.
Applying the Credit Memo from your Accounting Platform
If the Credit Memo was sent to QuickBooks or Xero, it must be applied to an invoice in QuickBooks/Xero.
In order for the Credit Memo to show as Applied in Buildertrend, the QuickBooks/Xero invoice you applied it to must have been pushed to QuickBooks/Xero from Buildertrend.
Applied Credit Memos
Once a Credit Memo is applied to an invoice, there will be a convenient link to the invoice from within the Credit Memo details.
Applied Credit Memos can be viewed within several areas in Buildertrend, such as:
The Payment History dropdown on the Invoice.
The Price Breakdown on the Invoices, Payments, Credit Memos, and Deposits dashboard.
The Payments and Credit Memos tabs within Invoices.
The Jobs Price Summary.
The Jobs List (ensure that your view includes the Applied Credit Memos column)
Interested in Learning More? 📚
The Buildertrend Learning Academy is your one-stop-shop for your online education, whether you're new to Buildertrend or an experienced user looking to learn more.
If you have any questions or require additional support, feel free to chat with us, send an email: support@buildertrend.com, or give us a call at 1-888-415-7149. We’re always happy to help.