How to Post a Deposit Against a Hire Contract

In Turbo Inventory, you can easily post a deposit against a hire contract to manage advance payments from customers. This article will guide you through the process of posting a deposit for a hire contract.

1. Select the Customer

• First, navigate to the Customers section and select the customer for whom you want to post a deposit.

• You can also set this up as a cash sale if preferred, but this is covered in another guide.

2. Enter the Hire Contract Details

• Once you've selected the customer, enter the hire contract details. For example, if the total hire contract for one week is €145 and the customer wants to pay a €200 deposit, you will need to ensure that the deposit is less than or equal to the total hire contract amount.

• Note: The system will not allow you to take a deposit that exceeds the hire contract total.

3. Adjust for Longer Hire Periods

• If the customer is hiring the item for a longer period, such as four weeks, and you want to take a deposit for three weeks, you can adjust the hire period to accommodate this:

  • Either manually enter 4 weeks for the hire period, or

  • You can update the return date to reflect the expected return date (e.g., 7 weeks).

By adjusting the hire period or return date, you will be able to set the deposit amount accordingly.

4. Enter the Deposit Amount

• After updating the hire contract details, you can now enter the deposit amount:

  • For example, if you are taking a deposit of €800 for a 4-week hire, enter this amount in the deposit field.

5. Post the Deposit

• You can post the deposit by pressing F10 on your keyboard for quick access or using the deposit button in the system.

• After posting, the deposit will be recorded and reflected in your cash drawer.

6. Confirm the Payment

• The €800 deposit will show as having been received, and you can continue with the hire contract process.

• This deposit can now be tracked in your cash up or financial records for the day.

Conclusion

Posting a deposit for a hire contract in Turbo Inventory is a simple process. By adjusting the hire period or return date, you can accommodate different deposit amounts and manage your customer payments efficiently.