Video: Progress invoicing in QuickBooks 2012

Editor’s note:┬áThis shows you progress invoicing in QuickBooks 2012, but if you have QuickBooks 2011 or earlier, there’s a manual method for invoicing over time.

To use this feature, be sure you have Estimates and Progress Invoicing turned on in your preferences. (Quickbooks > Preferences > Sales & Invoicing) Show me

Video script:

Hi! I’m Will, and I’m the product manager for QuickBooks for Mac. I’m going to show you progress invoicing, a new features in QuickBooks 2012 for Mac.

Many small businesses invoice for their projects in pieces over time. Examples include wanting to collect a deposit up front or wanting to invoice for the work that’s been completed as a project goes on. Progress invoicing helps you do both of these more efficiently and accurately.

Start by creating an estimate for the full project. Let’s say I’m an interior designer selling a kitchen remodel. I’m going to include cabinets, labor for my subcontractors, and time I spend on designing and executing the project. Wben I’m ready to create my first invoice, I click Create Invoice. This invoice is just going to be a 10% deposit of the full project to ensure my customer is committed to the work. QuickBooks creates and invoice for 10% of everything on the original estimate.

When I’m ready to order the cabinets, I’ll create an invoice for all the parts my vendors will need to be paid for. I can choose different amounts for each line, leaving the labor for later. QuickBooks shows the full amounts from the estimate and how much I’ve already invoiced for, so I know what’s left.

Finally, I come back in to invoice for the final work to close out the project.

Best of all, QuickBooks keeps track of all this behind the scenes on the Job Progress Invoices vs. Estimates report so I can see where I stand with my customers and projects. That’s an overview of progress invoicing and how it can save you time and work more efficiently.

 

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About Will Lynes

Will Lynes is the Product Manager for QuickBooks for Mac.

You can also post your own question to the QuickBooks for Mac community.