thread Is there a way to change Deposit to Retainer? in Archived Discussions (Read Only)

Is there a way to change Deposit to Retainer?

JaredWade — Fri, 05 Jun 2020 20:23:18 GMT

I do not sell products, but rather services. Per my lawyer, it is STRONGLY encouraged to use the term "Retainer" vs "Deposits" due to the language nature.

Deposit = Placing a payment for a future service, specifically the SERVICE.

Retainer = I am being retained for services.

In a court of law, if a client comes back and wants a full refund, a DEPOSIT has less strength than a RETAINER. Just want to know how to change the term in square. Paypal, it allowed me to call it whatever I wanted.

Re: Is there a way to change Deposit to Retainer?

AshleyK — Sun, 07 Jun 2020 14:07:24 GMT

Hi @JaredWade and welcome to the Seller Community! You cannot change the name of a deposit, but you can create the item name as a "retainer for services" or something that your lawyer would approve of. Another thing you can do is attach a contract, or any file, to your invoice for your customers to sign.

Let me know if you have any other questions. 🙂

Re: Is there a way to change Deposit to Retainer?

PetsInFocus — Fri, 11 Sep 2020 16:11:17 GMT

Hi Ashley, Square and Jared, I also have input on this issue. The problem with creating an item such as "Retainer for Services" is that I like the ability to have the client pay the retainer only or the full balance if they choose. Creating a specific item as a stop-gap measure for a system deficiency doesn't allow clients to that option. Thanks!

Re: Is there a way to change Deposit to Retainer?

alyssaleicht — Mon, 28 Sep 2020 17:16:33 GMT

I'm in the same boat! For legal reasons, I absolutely NEED to be able to have my wording changed to "retainer" because I'm also a photographer and the retainer is a percentage of the total contract amount that is withheld even if future services are cancelled/changed, because it's the fee to retain me/my time for a specific date/time.