Set up Progress Invoices in QuickBooks

Let’s start our article about how to set up and use progress invoices in QuickBooks. QuickBooks is one and the only accounting software that has the full capability of putting your books of accounts on autopilot.

With the help of it, you can:

  • Conveniently send your invoices,
  • Receive payments virtually,
  • Get financial reporting done,
  • Automate your tax calculations all with the help of QuickBooks.

How to Set up and Use Progress Invoices in QuickBooks

At the time of preparing a quote for certain projects, users hardly mention the full due amount on the project. What they rather do is, show only their billed amount. For this very reason, you can make use of progressive invoicing.

What is Progress Invoicing

It takes care of your billing estimates at the time of creating invoices. Within QuickBooks progressive billing is when applied then it follows the estimates for a set duration. Thus it is not wrong to say that it is billing in installments.

Deploy Progress Invoicing

  • To start with Progressive invoicing, you would need to activate the same within your preferences. For this just follow along:
    • Login to your QuickBooks accounts and click on your company file.
    • Click on the Edit menu and this will open up a different dialogue box.
    • Now choose the preference tab from there.
    • According to your QuickBooks version, find out the Jobs option and click on that.
    • Here, click on the estimates tab to select the following options.
    • Now, your action will be followed by two different options. Check mark on both the options that say:
      • Are you willing to create Estimates?
      • Do you want to create Progress Invoicing?
      • Once you do this, you will be all set and done.
  • You can use the estimate transaction at the time of creating a quote for the project.
  • The estimate functionality offers the exact features that are required for creating an invoice.
  • The item list that is used is similar to that of invoice creation.
  • Once your invoice estimates are created, now you can start your work by creating an invoice for some of the estimates.
  • You can do so with a simple click of a button.
  • Just simply choose to click on Generate new invoices and the automated software will create a new invoice for you.

I hope you got the answer to the query on how progress invoicing in QuickBooks works. However, if you still face any issues or want any further assistance contact a certified QuickBooks Proadvisor.