How to Create and Manage Estimates in QuickBooks Accounting Software

managing-estimates-quickbooks Many types of businesses provide estimates to customers before performing exploit. QuickBooks accounting software offers simple tools for generating and managing estimates for your customers .

Turn the Estimates Feature On and Off

To start creating estimates, you ’ ll motivation to login as an administrator and turn on the estimates feature .

  • Go to the Edit menu and then click Company Preferences. On the list that you’ll see to the left, click Jobs & Estimates.
  • Click Yes to answer the question, “Do you create estimates?”
  • Check the box next to “Warn about duplicate estimates numbers.”
  • Decide whether or not you want to use progress invoicing to charge clients at certain progress points during the job.
  • Choose whether or not to print items that have zero amounts on your progress invoices, if you’re using them.

To turn estimates off after you ’ ve generated one, restitution to Edit> Company Preferences> Jobs & Estimates to disable the feature. You can even view estimates even when the feature is off, but no one else can create an calculate unless the administrator re-enables the feature .

Create an Estimate

To start creating estimates, go to the Customers menu and chink Create Estimates. You can create either a unmarried quote for a job, or you can provide estimates for multiple stages of a job.

  • Simple estimates without progress payments. Enter the line items. Then, adjust the sales tax information if needed, and enter any class tracking information that you want to use.
  • Progress estimates. Divide your estimate into multiple sections, with each section corresponding to a single phase of the job. Enter the line items for each phase, and enter a subtotal at the end of the section. Later, you can transform each section into its own progress estimate.

Managing Estimates

To revise an estimate, you can either edit the existing estimate and save it, or create a double ( choose Edit and then Duplicate ) to preserve both the foremost and second versions. To memorize an calculate that you use much, click Memorize Estimate on the Edit menu.

To transform an calculate into an invoice, just open the estimate and pawl Create Invoice at the top of the form. QuickBooks generates an invoice that you can edit, and you can specify what sections to include if you ’ re using advancement payments. If you forget whether you ’ ve invoice one of your estimates, go to Customers and choose the relevant customer or job. Click the Show drop-down arrow, and then click Estimates. An estimate that has been converted to an invoice will have an assailable balance of $ 0 .
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