We have started a new business & are using MS Money 2005.

I created an invoice for the total amount of money due from the cleint. The
client paid us 1/2 of the money. (We require half up front, and half upon
completion of our work).

The invoice shows the total amount due, and no indication of the payment
received excect a small note "part payment". How can I reflect the amount
received already on the invoice?

The client statement shows the payment. As does the balance due in the
invoice screen.