Zoho Books has a really easy to use built-in “Retainer Invoice” feature that allows you to easily bill and track money that is paid to you in advance, or on “Retainer”. Here’s how:
Step 1 – create the Retainer Invoice:
- Sales->Retainer Invoice, click the “+” sign.
- Fill in the required information
- Click Save
Step 2 – record payment against retainer Invoice
- Open specific retainer invoice
- click Record Payment
- Enter Amount
- Click Save
Step 3 – record your time and Expenses
- Click Timesheet in left nav panel
- (if not already) Create a Project and add tasks
- Select Project and Click Log Time to enter your time spent against the defined tasks
- click Save
- Click the Expenses Tab to log expenses incurred for this project
Step 4 – Bill your Time and Expenses
->Timesheets
- Select specific Project
- Click Timesheet
- Check boxes next to desired time entries
- Under “New Transaction” menu ->Create Invoice
- Option to check box “include all unbilled expenses”
- Click Add
- Select Salesperson (if more than one in the system)
- Click Save and Send –> Save and Send Later
- Top Green Banner – “Click Here”
Apply retainer to invoice.
that’s it!
