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AccountingZoho Books

Zoho Books – Managing Retainer Payments

By January 10, 2017No Comments

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!

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