Online deposits are a way to get real time commitment from your clients when they make a booking, giving you confidence in their legitimacy. Should anything fall through, this also ensures you are able to pay your staff for the clients absence. You can set policies regarding deposits, such as caveats when individuals are unable to attend their appointments for genuine reasons. See our help guide How to set up online deposits for more information. In this article you will learn how to navigate deposits in your reports.
Timely note: the deposits feature is available if you use Timely as your payment provider (TimelyPay). If not, it's only available on Elevate and Innovate plans. Should you wish to upgrade your plan, you can find more information in our help guide How to change your Timely plan.
How to understand deposits within your reporting
Deposits are treated as a form of customer credit in your reports. Until they have been redeemed they are treated as a liability and will show in the total customer credit issued for the period section of your sales reports. For more information on liabilities, see our help guide How to understand liabilities versus revenue.
Once the deposit has been redeemed during checkout, the value transfers into revenue and will be reflected in your sales report totals. This will help ensure that the full value of the appointment is recognised at the point of checkout, rather than at the time the deposit was initially taken during online booking.
Timely note: TimelyPay deposits will show in your TimelyPay transaction report on the day they were paid.