How do I Set-up Installment Plans in QuickBooks Invoicing?

Set up Installment Plans in QuickBooks Invoicing

QuickBooks software, in retrospect of consumer needs, does not provide with a tool that allows for creation of invoice in installments directly provided within the settings of the QuickBooks software. However, there is another option called progress invoicing, which basically behaves in the same way as installment invoicing, available when user opts for Job estimating feature of the QuickBooks software. There are small businesses that follow the procedure of invoicing their clients after every certain peak in the project has been achieved. For the same purpose progress invoice feature of QuickBooks can be used in order to keep check over how much money is still owed. In order to not over exceed the estimate set, the software itself calculates the previous invoiced amount. To set this feature, user can follow the steps illustrated below:

Step 1:In the current screen select the tab labeled ‘QuickBooks’ from the menu bar in the top of the screen. From the drop down menu select the option Preferences followed by Sales and Invoicing.

Step 2: From the current window, against the option ‘Customer and / or Job Estimates are Prepared’ select the check box to place a tick in it. After this step, a message will appear prompting the user to close down all the windows of QuickBooks in order to make the required change. Select button OK to continue with the step.

Step 3:Again from the same window, against the option ‘I want to create progress invoices from estimates’ select the check box to place a tick in it. After this step, again a message will appear prompting the user to close down all the windows of QuickBooks in order to make the required change. Select button OK to continue with the step and close the current screen of ‘Sales & Invoicing’.

Step 4:Now come back to the main screen and select ‘Customer’ tab followed by clicking on ‘Estimates’ icon. Another way of locating this icon is by selecting the ‘Customers’ button from the top menu bar and then from the drop-down menu picking the option called ‘Create Estimates’.

Step 5: Type in the required information regarding the estimates and select the ‘Save’ option located in the bottom of the current ‘Estimate’ screen.

Step 6: Now go to the top of the ‘Estimate’ screen and select the option labeled ‘Create Invoice’ which will basically open a pop-up window called ‘Create Progress Invoice’

Step 7: Now the user has two choices to select from –

  • A Percentage of the Estimate: This will basically denote installments as per certain percentage of the estimate.
  • Only Certain Items / Different Percentage Each Time: Under this installment amount are created as per specific items listed under estimate.

If the user opts for Percentage option, they need to provide the ‘%’ amount in the text dialog box and move onto next step.

Step 8: Now click on ‘OK’ tab. Once the invoice information is completed, the invoice is designed as per the percentage of the entire estimate amount. However, if the second option is chosen a window for ‘Specific Invoice Amount’ is opened wherein the user needs to select those items that are to be invoiced, along with their specific amount and then click on ‘OK’ tab to create this invoice.

Step 9: Now back into Invoice window, as per the requirement of the business user needs to change the needed information before clicking on ‘Save’ option to create the first invoice installment.

Step 10: User can generate other installment invoices following the same procedure. Once the first installment is ready user will garner a new option stating – Remaining Amounts on the Estimates, right after they click on tab called ‘Create Invoice’. Click on this option to generate an invoice bill regarding the rest of the estimate amount left.

The above illustrated steps ensure that the user can easily set up installment invoicing through the process of progressing invoicing without much hassle. Although, the process is quite easy, at times user might land in trouble. For any issue faced while performing the same QuickBooks expert team can be approached. Moreover, if there is any issue in connecting with the team of QuickBooks for the same user can connect with us at our toll free number +1- 855-481-5335 and live chat option on our website –quickbooksnumber.support.

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