You have asked the golden question. As a business banker, we all struggle with getting deposits. Going after key industries (escrow companies, property management, HOA's, etc) will help in this. However, there are many options to help get deposits. I'd be happy to hop on a call and talk about thi...
A deposit is simply an advance against an amount due under a contract. If the customer owes you $120k for completing a contract for an event, the deposit is recorded as a liability on your books until you complete the contract. Then you record the sale and any balance owing becomes your receivab...
In my experience, what I've seen is that you should clarify right from the beginning that they should use it within a year (365 days). Also, you should work on to your strategy to bring clients back to the platform. What you want is to people to spend that money as soon as possible so they woul...