Deposits on Trade Commitments (POs)

Now you can issue a deposit to a Trade Partner on a PO. The deposit can be linked to a schedule task and will then work much like payments do in our Click-2-Pay process with the exception that the Trade will not need to approve the Invoice. If no task is selected, the deposit will generate a Bill and be sent to accounting for processing.

Adding the Deposit to a Draft PO

The process is very simple. When drafting an individual PO on the Trade Commitments screen in a project click on Deposit at the top.

A modal will open and here you can enter a fixed value or a percent of the PO Total to be paid as a deposit. You can also link the deposit to a schedule task to be paid once that task is complete. This will work much like our Click-2-Pay process and we will issue a Bill for processing once the schedule task is complete. Trades will not need to approve the Invoice. If you do not select a schedule task then a bill will be auto-generated as processing upon PO signature. 

Note: This means the Bill will be paid on PO sign and no Approval will be needed

The Bill is Auto-Created

As you can see below because this Purchase Order had a deposit of 20% that was not connected with a schedule task a Bill was created with a status of "processing" once the Commitment was signed. That means that once the Purchase Order is signed the Deposit will be paid. 

Leaving an Internal Note

There are a few opportunities to leave a note or a comment. You can leave an Internal Note regarding the deposit in addition to making a comment on the PO or leaving an internal note on the line item

Questions? Feedback? Email us at Product-Support@Homebound.com or chat with us in Blueprint!