It’s Technical Tuesday – let’s get paid! Today we cover the ability to send and track progress invoices in QuickBooks Online. Whether you want to send a standard 50% deposit invoice or something more complicated, QuickBooks Online is built to handle it. Send out those invoices and get paid! Check out the website for more content www.bcbousa.com
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Full Recap:
Today’s Technical Tuesday is all about getting paid! How do you get paid? By sending invoices of course. In the past we have spoken about the importance of sending deposit and progress invoices to help increase your cash flow and manage your accounts receivables. Today we go into detail about the progress invoice feature built into QuickBooks Online.
Progress invoicing lets you split an estimate into as many invoices as you need. Instead of asking for full payment at the beginning of a project, you can invoice customers for partial payments. As you complete work, add items from the initial estimate to progress invoices. This keeps project payments organized and connected from start to finish.
After you have created an estimate and are ready to do a progress invoice, open the estimate, decide how much you want to invoice for, then select Create invoice. You can charge for a percentage or a specific amount. If you choose Custom amount for each line, enter a specific amount for each item on the invoice. Your original estimate won’t change when you create a progress invoice. QuickBooks keeps a record of both.
You can keep track of your progress invoices by going back to the original estimate, and clicking on the blue Linked Transactions link below the customer name. It will show all progress invoices to date. Progress invoices include an estimate summary with the total invoiced. There are also links to the original estimate and all relevant progress invoices. You can add estimate summaries to invoices so your customers can see their remaining balance. Remember, the easier you make it for your customers to pay you, the quicker you will get paid!