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Progress invoice example for organizations

hey guys the chase here we're gonna talk about progress invoicing using QuickBooks Online in this tutorial here so if you're a company that would like to send out one invoice that has many different service items or product items through rolling it out through phases this might be for you an example is you want to create an invoice with three phases and five thousand three thousand there one thousand and give your customers the ability to pay per phase as you complete each phase and milestone they would show progress on completing the invoice so rather than three invoices one invoice now the workflow would be that you would start off with an estimate or proposal you like that term better the customer looks over your estimate accepts it and then we turn it into an invoice and for each item or phase in the invoice we can produce how much their they owe at a given times and therefore they would see the total amount but they would only be responsible for hitting the amount that's due based on a certain percentage or a custom amount that we can do provider now when it's all said and done well how or as we're tracking it there's a great report called the estimates and progress invoicing summary by customer report that will help us see how much the customers paid already how much remaining percentage of the invoice do they have left to to be billed out at some future point as the work progresses okay alright let's go ahead and jump into QuickBooks Online I'm using a test account file and what you could do if you were to Google qbo test drive you can sign in to one of these companies here first things first you've got to turn it on so we'll turn it on by selecting the gear in the top right hand corner account and settings and then from the sales tab on the left hand side margin area we're just going to come down and find the progress invoicing and make sure that it is check the default it's going to be turned off so you turn it on so save that done at the bottom right now let's go ahead and create a new customer I'm gonna go to sales customers and select the new customer icon button here and let's pretend it's on eagle's wings okay and we're just pretty quick email here alright save that okay next we are going to create an estimate for them so we go in the upper right hand corner and estimate or by clicking on the quick create button estimate from there okay so design phase is going to face one five thousand and then we're going to have installation the phase two three thousand okay and then we're gonna do one more phase three main repair okay so we've got an estimate estimates do not hit the books they won't affect your books until they're converted to invoices and we've got the estimate date we're gonna send this out we're gonna give them two weeks to have it valid so we'll save and send that okay then later down the road they come back say guess see we want it let's do it so we can change the pending status to accepted now that the estimate has been accepted our works not done yet we still need to convert this to an invoice so there's a command at Nippert inquiry if you don't have this feature create an invoice in the upper right hand corner then you'll have to create an invoice separately and then have the customer populate which will force a drawer to open up on the right hand side push that estimate so we're going to do a custom amount for each line the alternative was a percentage for example 50% of each line we want to just do a custom out for each line create invoice if you get to this point you don't see this then that means you haven't turned on the progress invoicing which you'll need to go back into the accountant setting sales tab and turn on all right so we are going to have 5,000 do for the amount due right off the back the others were going to leave at 0 for phase 2 it's still early in the game phase 2 phase 3 also zero so our total opportunity right now we're putting into the books is 5 thousands in the account receivable so if we want to take a look to see how that looks let me save that and select the print or print preview awesome okay so you can see here that the balance due is 5,000 they can see the invoice 103 8 here includes the different phases but nothing yet is on the books as far as what's owed right now zeros over for phase 2 and Sears for phase 3 awesome so we'll save that and then we'll close it up here okay next we get a check in the mail five thousand dollars let's go ahead and receive payment on that we could do it here the other opportunity we could come up to the quick create and select receive payment you'd want to have that happen okay select the customer john smith here here it is invoice 103 8 we're going to check and let myself out that way or 5,000 is receiving it so it imagines the future date check we could put a reference number if we want put the check number there and then depending if we're going to be depositing that check straight into the bank account check out that was a single check we would do that if it was going to be thatched with the other trucks we'd want to do on deposited funds okay I've done some other videos on undeposited funds if you might want to check out they can help you verify how that works you're not sure about that so we're going to verify we're receiving $5,000 on that and we're gonna click Save and close okay now what's confusing here is that it has that they're paid up the zero zero opens ear over to breakfast so but the remember that it's still we still have four thousand dollars out standing to still do more work in progress invoicing as we go so let's jump ahead and take a look at that report that I talked about earlier to show you the estimates to progress invoicing report by summaries we'll just go to the reports I like to just search estimates up here and here's the estimates in progress invoicing by customer report we want and we're gonna look closely at John Smith you want to make sure that the report dates are for all dates so that should be verified right there and now let's go down and find John Smith's here we go so 9000 is what was the total amount on our invoice five thousand has been invoiced we'd receive five thousand we've we have fifty five point five six percent of it of invoiced and what's left in the bounce is four thousand so I can click on any of these links here to actually open up that estimate that we see there and if we look at the total invoice or estimate you mean it's nine thousand take quick little look right here under this check box now says closed and we can see that we've closed out phase one so now we're moving into Phase two where we like to click payment to begin work on phase two 3000 right there okay so what we need to do now is we need to actually we're not going to create another invoice on this we already have the input so we'll close out of this what we want to do is go to the customers and find all the transactions associated and this would also be if you're using quickbooks projects this would be where you can go into the project center if you had a projects tab here you can find that transaction and open up that invoice notice up here we have the invoice 103 8 it's showing that it's paid but we know behind the scenes if we were to click on it we can actually edit this and just by clicking on inside we'll go ahead and put in 3,000 ok so that turns the invoice now into 3,000 let's do and let me save that you'd be careful here it looks scary here but trans actually our editing is linked tell if you want to modify it we do want to modify invoice 1 or 308 103 8 to do that ok and then we would send and send save and send that to the customer customize any message here maybe saying ok we're now we're gonna start phase 2 and so forth you can see phase 2 is in the process here now it shows that we they've made a five thousand already and the bounce news 3000 okay alright if we wanted to show other items in here we could do that like how much they've paid of each phase on it let's do this let's go ahead and just do a quick save let's receive payment that's half of it let's assume that they paid 1,500 save and close that okay well I'm gonna take you down to a quick little changing up the form here so clicking on the gear custom form Styles let's create a new invoice new style invoice content I'll click let me just do this right here progress we'll call it progress invoice design click on content and click in the middle of this section here and what we'll have the ability to do here is click show more activity options and there is show progress on line items right there so that could be helpful to render that so with that - done let's reopen at invoice 103 8 I'm just going to return to John Smith customer reopen invoice 103 8 and to change the invoice now going forward we would click customize and we would change it from the standard invoice to the progress in West design that we named it the check mark there and let's take a quick look at print preview and we'll see that actually what I was looking for is not quite there yet I need to save selected preview huh okay I'm not quite seen that yet so I wonder if that's because we started this before it turned that on I don't know let me let me go ahead and receive payment on that okay save and close and then we're gonna create a third payment just to see what happens here open up in Boise 103 eight come down here this time we'll do percent let's try 50 percent here five hundred save huh not seeing that so it makes me wonder if I actually save that design form let's go back into real quick custom form styles it's not checked okay that's why show progress okay nice need to double check that okay it's there alright so now I'm gonna return back to my invoice 103 eight make sure it's on that print preview this should show there it is right there happening like force right there so that checkbox that you just saw me click again is showing how much they've paid of how much was do alright so if you like to do that kind of detail there then that's a an optional scenario that you'd like to do here okay let's return to the report progress invoicing search estimates and progress invoices summary by customer and we'll see that we have invoice the $9,000 was invoiced we have 8,500 left has been invoice of that night yeah 8500 has been in was of the total nine thousand estimate that's how it works and so we're getting our inching our way closer and closer to zero also wrapped out here hey guys I hope you enjoyed that video tutorial and you're considering using that in your business that can really help you make sense of your progress in voicing for invoice item key takeaway here's we didn't have to create three invoices it was one invoice the whole time with updates on phasing through the progress of the invoice thanks for watching