Progress Invoice Example for Construction Industry Made Easy

Progress invoice example for Construction Industry

hello once again my name is Enoch Garcia and today we're discussing on how to create progress invoices and QuickBooks Online ok let's get started so there are situations where you are working on a project and you need to send your client a an invoice but you agreed on percentages meaning they pay you in installments for example you have an invoice let's say for $10,000 and you are billing them 30% to start 40% Midway and upon completion the final payment so in order to do so let's get started we need to turn on progress invoicing so let's go to the gear icon account and settings under your company and then we're going to go to sales and here we have it all already however you'll see progress invoicing the pencil check it on its save and then done ok now our next step is to create an estimate so we usually cream estimate and send it to our clients and we're going to create an invoice based on this estimate so estimate ok and let's choose a claim just for an example ok let's say we're installing concrete and it's gonna be $15,000 ok it's including tax we're gonna check this off look take this off since even 15 okay let's assume we've entered crew a expiration date today it's it's safe all right so now you see that the moment you hit save you have an option here to create an invoice so we hit create invoice we have a new pop-up we can invoice for the entire amount the fifteen thousand or we can choose percentages if I mentioned in my example we're gonna do 30 percent to start then forty percent and then defining so let's create an invoice now we have an invoice for 30 percent of 15,000 so notice it's safe right it's X and if we go to search remember this is a history of your recent activity so does go to the fifteen thousand dollar estimate that we create in once again and I'm gonna create an invoice for 40 percent $6,000 it's something to keep in mind up here it shows you what the remaining balance is create invoice so now we have two inputs this 30% and 40% that's nice for 6000 I'm gonna hit save and one more time I mean it really depends on what your structure is it could be 30 70 30% to start 72 complete upon completion really however you want to set it up but this would be the process create invoice and now I'm going to do the remaining the remaining balance which is 4,500 create invoice so now we have three invoices sold only $15,000 I'm gonna go ahead and hit save something to remember is we used Amy's bird sanctuaries and index now let's go to these sales side remember on the tops so we're gonna go to customers we have Amy's / sanctuary here and here we go so that's like this we have the $15,000 estimate here we have invoice the first thing was for 4,500 which was a 30% 40% and the final 30% that's to be paid upon completion and this is how we would create progress and voicing really depends on your scenario how you want to break it down but that's at your own discretion as always if you have any questions our contact information is in the description below you can also leave a comment and let us know what you like us to cover next please sit the like button and share and subscribe for more QuickBooks tutorial that we upload weekly thank you so much