For the best business approach, it is important to prepare estimates for the customer’s consent regardless of what you sell. Customers may also request an estimate before making a final call. When a customer accepts the estimate, you can convert it to an invoice. In case you wish to request a partial payment then you can send a progress invoice to your customer. Converting estimate to invoice in QuickBooks Online is pretty easy. Read more to find out quick and easy ways to convert estimates to invoices and vice versa.
In this comprehensive guide, you will learn how to convert an estimate to an invoice in QuickBooks Online and Desktop. In addition, we will teach you to convert the invoice to estimate as a workaround in QuickBooks.
Why Should You Convert Estimates to Invoice in QuickBooks?
By converting estimate to invoice in QuickBooks Online, you can leave a good impression on potential clients. In addition, by switching to the invoice from estimate, you can make sure that the billings are proper and the pricing received a customer’s consent.
As you switch from the estimate to the invoice, you can bypass the repeated data entries. This also prevents you from wasting time on a particular client. As a result, it convinces the clients of your business potential. Hence, you should convert QuickBooks estimate to the invoice.
How to Convert Estimate to Invoice in QuickBooks Online?
For converting estimate to invoice in QuickBooks Online, one has to perform a series of steps. For instance, first, you will have to prepare for the estimate in your account. Thereafter, you can create the estimate for a specific customer, and then you can convert the same estimate to the invoice with the customer details and line items.
To learn the whole procedure with a step-by-step guide, you can continue reading how to convert estimate to invoice in QuickBooks Online.
Step 1: Prepare Estimates in QuickBooks
The first step is to prepare for the estimates in your QuickBooks account. All you have to do is log in to QuickBooks with administrative rights. Thereafter, you can open the Preferences window and select the Company Preferences from the Jobs & Estimates option.
- Launch the “QuickBooks” program on your computer.
- Make sure you log in as an administrator.
- Then, go to the “Edit” tab located on the menu bar.
- When you see the slide-out menu, click on the “Preferences” option.
- Now, click on the “Jobs & Estimates” option from the “Preferences” window.
- Here, you can click on the “Company Preferences” option.
- Choose the “Company Preferences” option.
- Select the “Yes” button located next to the “Do you want to create estimates” option.
- After that, click on the “OK” button to save changes.
Step 2: Create the Estimate in QuickBooks
After you prepare the estimate, the next step is to create it. To create the estimate, all you are required to do is choose the customer, enter the name & address, add the line item, and save details.
- Go to the “Customers” option located on the menu bar.
- Then, click on the “Create Estimates” option.
- After that, select the appropriate customer using the “Customer” drop-down menu. You can also type the address and name manually.
- Once done, add the line items in the “Estimate” accordingly; as you want to see the line item in the invoice.
- Now, press the “Save” button located on the toolbar.
- After this, you can save the estimate.
Step 3: Convert Estimate to Invoice
As you have prepared and created an estimate in your QuickBooks, you can now convert the estimate to an invoice. To proceed with this, you have to select the relevant customer and show the estimate for that customer. As you click on the Create Invoice, QuickBooks automatically converts the estimate to a new invoice with all the customer details.
- Click on the “Customer Center” located on the toolbar.
- Then, select the “Customers & Jobs” option.
- After this, you can choose a specific customer’s name for which you have created the estimate before (in Step 2).
- Now, click on the “Show” button.
- Then, press the “Estimates” option.
- Once done, click twice on a specific “Estimate” that you have prepared for a specific customer. The estimate will automatically start on QuickBooks.
- After this, you can click on the “Create Invoice” button located at the top of the estimate form. As you do this, QuickBooks starts converting the estimate and displays the customer data with the line items in the new invoice window of the invoice.
- If required, you can edit or change the line items from here.
- Once done, click on the “Print” button to take print of the new invoice.
- Then, click on the “Save” button.
By adhering to these steps, you can easily convert estimates to invoices in QuickBooks Online. All you have to do is prepare an estimate, create an estimate for a customer and convert it to an invoice.
How to Convert an Invoice to an Estimate in QuickBooks?
Converting estimate to invoice in QuickBooks Online is possible, however, the option of switching back to the same estimate is not currently available. Yet you want to convert the invoice to an estimate then as a workaround, you can create a duplicate of the first estimate.
To create a copy of an estimate, you just need to open the relevant estimate and edit the customer details. You can carry out the following steps for the same:
- Click on the “Sales” option. This option is available on the left menu.
- Then, select the “All Sales” option.
- After this, open an estimate for which you want to create a copy.
- Go to the “More” option.
- Choose the “Copy” option.
- Now, you can edit an estimate.
- Once done editing the estimate, click the “Save” button.
After performing these steps, you can easily convert the invoice to an estimate. Basically here, you are creating an exact copy of a particular estimate.
For every business owner, creating an estimate is recommended as your customers value your business potential. By converting estimate to invoice in QuickBooks Online, you can also bypass the repeated data entries. If it is required then you can switch back to the estimate. However, you have to make a duplicate of a particular estimate.
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