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.
Using the Progress Invoicing 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 basically 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 says:
- 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 of 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.
Hope, you got the answer to the query on “How progress invoicing in QuickBooks work?” Though if you still face any issues or want any further assistance related to QuickBooks then get our help at askforaccounting.com. Though we are locally based in Canada, but we serve clients from almost every part of the world. We get our most customer from USA and UK. Thus no matter what part of country you are calling from, we are always ready to provide support. In case of any further query, talk to our proadvisor now.