How to set up deferred sales with QuickBbooks Online?

Hi walter-weppler-w, 

Thanks for reaching out in the Community! I'd be happy to provide some information on deferred sales. 

To set up deferred revenue in your QuickBooks Online account, follow these steps:

• Create a Liability Account for Deferred Revenue:
  1. Sign in to QBO as the primary admin.
  2. Click the Gear icon ⚙ at the top right corner and select Chart of Accounts.
  3. Click New to create a new account.
  4. Choose “Other Current Liability” as the account type.
  5. Name the account “Deferred Revenue” or a similar descriptive name.
  6. Click Save & Close.

• Create a "Retainer" Item:
  1. Go to the Gear icon ⚙, then select Products and Services.
  2. Click New to add a new product or service item.
  3. Choose Service as the type.
  4. Enter a name for the new item (e.x., “Retainer”).
  5. From the Income account dropdown menu, select the liability account you created earlier.
  6. Click Save and Close.
   
• Apply Prepayment to Invoices:
  When you invoice a customer for services or products, you can turn the retainer (prepayment) into credit on the invoice.
  - Apply the prepayment to the invoice that includes both product and service content.
  - The remaining balance will be reflected in your invoice.

Remember that deferred revenue represents income received for services or products that will be delivered at a later date. 

If there are specific accounting or legal considerations, seeking advice from a professional accountant is advisable.

You can open this article that details the process of recording a retainer in QuickBooks Online: Record a retainer or deposit.

For future reference, I'm adding this guide on how you can record a customer refund based on various scenarios: Record a customer refund in QuickBooks Online.

Let me know if you have follow-up questions by adding a reply below. I'm here to help.