QuickBooks has been providing some outstanding accounting services for all kinds of business owners. It has so many fantastic features that help your business to grow. So many users across the globe are not aware of QuickBooks’ so many great features that they can for their business and Progressive Invoicing in QuickBooks is one of them.
You need to make payments multiple times whenever you create an invoice or quote for a project which is to be undertaken in order to run it smoothly and it won’t be considered as a smart move if you pay the whole amount at once. Instead of doing this, you can show the amount that has been already been billed and this technique is known as the Progressive Invoicing in QuickBooks.
If you are looking to know about the Progressive Invoicing in QuickBooks and want to about its process then you need to through the full article because it can be a beneficial thing for your business.
How To Use Progressing Invoicing Technique In QuickBooks
Step 1: Turning The Progressive Invoicing Preference On
- Open QuickBooks
- Go to Edit > Preferences > Jobs and Estimates
- Go to the Company Preferences tab
- Click on Yes for both mentioned options
Step 2: Using The Estimate Transaction
Once you enable the Progressive Invoicing in QuickBooks Preference then you need to use the estimate transactions while create the quote for your project. The process of creating Estimate is very much similar to the creation on an invoice for a project and it includes the use of same item lists as it was done to create the invoice.
However, you need to remember that the Estimate transaction is actually different from the invoice. The Estimates doesn’t have affect on your accounting books so it can be described as a non-posting transaction. Also, the Estimate also includes columns for tracking your estimated cost and the price of your customer. This allows you to ensure that you are in a profit on the bid of a certain project which is in question.
Step 3: Starting The Invoice For A Line From The Estimate
Once you perform the above two steps, you need to initiate the invoice for a part of the estimate. Now, you need to click on Invoice option from the top of the estimate and then you will get the option to create an invoice for entire estimate, a part of the estimate or to select different lines on the estimate transaction.
Contact Us For Support
By following the above mentioned steps, you will be able to use the Progressive Invoicing feature in QuickBooks. However, if you are not able to do so, or you are facing some issues while performing the steps then you need to get in touch with the experts. For this, you are recommended to contact our toll-free QuickBooks Support Phone Number +1-866-701-7446.