Progress Invoicing Customers

 

Progress invoicing is a billing from an estimate which runs for over the course of time and can be assumed as a sort of installment billing. In QuickBooks, Progress Invoicing is a standard feature which has several options for invoicing as well.

In order to implement its function on the system you have to utilize the QuickBooks Estimate function as well, in order to eliminate constant entry and helps you create a good job costing reports.

To activate Progress billing you Must first be launch QuickBooks as the QuickBooks Administrator and be the sole user of the system. Click the Edit menu and select Preferences then scroll down to Jobs & Estimate. Go to the Company Preferences tab to review and set to answer Yes on the following questions, if it appears on your screen.

“Do you Create Estimates?”

“Do you Do Progress Invoicing”?

“Warn about duplicate estimate numbers”? Once encountered this question, check it to prevent you from using the same estimate numbers for different jobs.

“Don’t print items that have zero amount”? This should not be checked.

After setting these options, you may click OK to save the changes you created. Since you are on a single user mode, you can now switch to multi-user mode so you can have others continue working.

Next, on QuickBooks item list go to Job Cost Codes, and build your Estimate. Make sure that Items or Job Cost Codes are set up as double-sided items in order to both acquire expenses and income. Once you have built your Estimate, go to “Create Invoice”, “Create Progress Invoice Based on Estimate” window will appear and will give you 3 different options for creating your progress invoice.

-Create invoice for the entire estimate

-Create an invoice for a percentage of the whole estimate

-Create invoice for selected items or for different percentages of each item.

For most the third option is used, and after making the choice, click OK. A window “Specify Invoice Amounts for Items on Estimate” will appear where you see items on your Estimate. In here, you can specify the quantity, rate, amount or percentage for each item that you are billing for the current period. This will you a running total and when you are satisfied click on “OK” and the system automatically fills in the Progress Invoice form. Click “Save” and have the invoice sent to your customers.

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