Hello to all my contractor friends using QuickBooks online! This QuickBooks Online instructional video class will show how to record invoices that we give to the clients as we make progress on the job. These invoices are part of the contract and the client agreed to pay for work done as we make progress on the job. They will indicate to QuickBooks Online that the job is a larger percent complete. They will also acknowledge income actually earned and show the customer’s increase in balance on the open invoice report. I thank you all and hope that you will click “like” and “subscribe.
Thank you for sharing your knowledge about qb. You're awesome. I have a question about this matter. What happens when we invoice the client before starting a project? In large projects we ask the customer for "x"% in advance as a "First payment". What type of report would give us accurate information? Thanks again!
Good question! First watch the whole palylist in order. Numbers 8 - 13 will give you 1 option. ua-cam.com/video/tMlU65vPmuw/v-deo.html Numbers 4 - 7 in this playlist will give you additional options on how to record payments before any service was done. ua-cam.com/video/1PL1xHBIOS4/v-deo.html I know both playlists will help you. I hope you will click "like" after watching each of them and I hope you will subscribe. -Mark -Mark
Thank You for doing these videos. I like your explanation of progressive invoicing. How do you record an overpayment on a progressive? If the client paid for a larger chunk of your estimate than what you invoices?
Thank you for the compliment If you receive payment more than the invoices that you build, then just record them in the receive payment window and wait for the future invoices to come QuickBooks will generate a credit and you can just wait to apply the credit later to the invoice that you make later Please make sure that you can see the entire contract the playlist by looking in the description field or clicking on the link in the top right of the video The playlist explains everything within its context if you do the whole course, and in your particular case, you should also watch the playlist called quote Advanced receivables" that you can find in the main Channel page if you go to the channel page of this video and search in the channel Page search bar for advanced receivables, it will show you every option when you get paid in advance before you Bill or invoice the client Please confirm you found both playlist and if not that I will send you the links Mark
When is QBO going to allow an invoice format that shows Prior % and/or Prior Amt invoiced.. so that we can say for example bill up to 70% complete but easily see that we have prior % billed of 30% so we can quickly determine and show current progress invoiced is 40%.
Thank you but the desktop version of this does show that. Unfortunatly, QBO, not YET. You could however contact sales and support to "suggest a feature". I'm sure if thye could, they would so the tecjnology keeps changing and we can only hope for the best. HOWEVER, Here is the link to the updated contractors complete video tutorial that includes the updated version of this topic and all other, If you warch this in proper order, I'm sure you will have everything you need. ua-cam.com/video/cSVTlP7zGso/v-deo.html -Mark
TLDR: QuickBooks Online allows contractors to create progress invoices for the work completed on a project, track the amount owed from each customer, and manage accounts receivable for each client. 00:00 💡 Record invoices from estimates to bill clients for progress made on the job. 00:51 💼 Invoice the client for the progress made according to the contract in QuickBooks Online, and choose the specific project when creating the invoice. 01:59 📊 QuickBooks Online allows contractors to invoice clients for a percentage of the items listed on the original estimate. 02:58 📝 Create progress invoices in QuickBooks Online by copying the invoice, inputting the date, and checking the progress and invoice summary reports. 04:15 💡 In QuickBooks Online, progress invoicing allows you to track the amount owed from each customer and the amount paid for any particular invoice. 05:39 💡 You can track progress invoicing in QuickBooks Online, see the results in the trial balance, and manage accounts receivable for each client. 07:13 💡 Enter custom amounts for each line on the invoice and only change the money amount, not the quantity. 08:35 💼 Invoicing progress in QuickBooks Online for contractors, showing how to input custom money amounts for each line instead of a percent of everything, resulting in invoices that have not been paid and remain payable by the client.
I absolutely love your videos over almost any other! Between this video and the one for customer deposits, I have a question. So, my company requires customers without a credit agreement on file to pay 50% up front. I've been using the progress invoicing for this purpose because it allows me to send an invoice to the customer for 50% of the total. We don't order the supplies until the deposit has been paid. Is this good practice or should I be doing this another way using the deposit feature?
Thank you for the compliment and thank you for asking It's better to show you than to tell you. So click in the top right corner of this video to get the link to the full contractor's playlist. In that playlist you will see that there are 2 different ways to record up front to pant advanced payments for job deposits and then you'll see which option suits you best. You should watch the whole playlist in proper order for better understanding but you could go directly to the videos regarding job deposits and advanced payments and I'm sure those videos will help you Please confirm you have what you need and I'll be here if you need any follow up Mark
@@worldwidequickbooks I actually just finished the video "QuickBooks Online Contractors Deposit Feature for Down Payments" and I added a question there. Thank you for your prompt response.
Things will work if you watch the video from start to finish and proper order without skipping any chapters Make sure you watch the beginning. Chapters about account settings and activating the feature that you're looking for Please confirm you fail didn't appear if you have any other questions Mark
I have this same issue, I went back to the account settings chapter, and I don't see anything I missed. What is the setting called so I may listen for it more closely.
Great videos - very helpful. Our estimates are down to the part and can be pages long. Is there a way to create a summarized progress bill that just says for example 30% of job without listing every item at 30%
Thjank you Glen, I don't see any but you can try to search for all reprots in the reprots menu and... You can possibly customze the report you mentioned to be a summary. Try those 2 things and let me know, -Mark
When I go to customize the invoice to the estimate the customization window doesn't appear. I hit add and the estimate just fills in. So i can't add a percentage or customized dollar amount. Any suggestion on getting the window to appear?
Thank you but in the updated version of the whole course video, It shows that you have to change the option in the account settings or company settings window in order to activate the progress invoicing. And then it Will work the way the video shows I suggest you watch the full course in proper order. But you can see the company settings. Chapter and the progress invoicing chapter in the description field by the table of content. So take a look at this video ua-cam.com/video/cSVTlP7zGso/v-deo.html I'm here if you have any questions about finding in the video what you're looking for Mark
How would you handle a transaction where the total amount of the job has changed. I made an estimate for a customer, invoiced a few weeks ago for 50% of the total, as a deposit. I need to send a final invoice but the total amount is now less than the estimate. Do I change the estimate total and then invoice or do I make an invoice from the original estimate and change the amount there?
Thank you and i'm happy to help you and I still have the solution You need to make a change order and the video for change order. Is part of the same playlist that this video is a part of If you click in the top right corner of the video you will get the link to the full playlist.if you watch the playlist in proper order you. Will understand everything better.? However,you can look at the titles of the videos and the playlist to Find The One that says Change order. To change order video will show you what To Do regarding your question. But if you watch the playlist in proper order. You will understand everything better and i'm here if you have any follow up questions Mark
Can you do progress billing using a group? This way we can itemize the bill internally and the customer will only see a % of a lump sum amount on the invoice.
Yes you can group your items together and if your items represent a category or group than that would work. Give it a try and see if it works for you Mark
Yes, absolutely You shouls end our client a STAEMENT each month. You can add to the statement reports like the customer balance detail or the open invocie report or any report you may want or need to send them.
Creating an invoice and adding from estimate, in your video it shows that Quickbooks will ask to invoice full amount or a percentage. I have watched all videos leading up to this and followed all steps and I do not get this pop up for progress invoicing. I am using Quickbooks online plus. Am I missing something?
Thank you for asking. It's p[ossible that you need to "activate" progress invocieing in the "account settings" window. This video is # in the same playlist as your video. You really need to wactch them in proper order. Then everything will be clear. ua-cam.com/video/I80VjoK41s8/v-deo.html Please confirm you are ok now or need anything else. -Mark
How can I edit a progress invoice? according to the job updates I always have different quantities or added stuff or stuff that we don't end up doing ?
You can simply reopen the original estimate and change the amount of the original estimate and that everything should adjust itself If you need the video about the estimate or anything else for contractors, click on the top right corner of the video and you'll get the link to the full playlist that you should watch in proper order and everything will be clear Mark
To clarify- the date on the invoice should be the date that the work was completed, right? So if the work was finished on January 3rd, but I didn't get around to inputting the invoice in until January 5th, I would still put January 3rd on the invoice, is that correct?
Yes that is correct. With most contractor type of contracts, the day that you completed the percent of work that becomes billable, is the date of the invoice. So, if your contract allowed you to bill every 25% of completion, then it would be the date that you finished the first 25% and so on... -Mark
Thank you Todd 1st, you must make sure you have the plus version of quick books online because essentials and the super cheap self employed version don't have the features of contractor needs Secondly, you have to make sure that you're making an invoice from the original estimate and the estimate Comes from the contract It will be clear if you watch this video series from the beginning of the playlist and watch all of the QBO contractors videos in order The link to the full play list is under the 1st paragraph in the description field You could also get the full playlist by clicking in the top right corner of the video These confirm you have it and if you watch it in order it will clear things up Mark
Can a customer pay the entire invoice in full? example: the estimate (1234) was for $50 after creating an invoice I sent the invoice (4321) to the customer totaling $25. If they paid $50 would the remaining $25 be a customer credit
Yes it would be a credit and you would understand it completely If you do the entire playlist that this video is a part of and watch the playlist in proper order. Click in the top right corner of the video to get the link to the full playlist that this video is a part of. Then you can watch the videos in order or at least read the titles of the videos in the playlist to get to the section of love receiving security deposits and payments and those videos will show you how it works if the customer pays too much in advance. Please confirm you found the link and if not I'll send it to you Mark
I am one month into switching from QuickBooks Premier Desktop to QBO. My Progress Invoicing “unlinked” about 3 invoices so all totals are incorrect. This is a large project for us and is over halfway complete. How do I relink them? Thank you.
Can I progress invoice 60% of the total job after the work in done and is just awaiting inspection? If I use progress invoicing, the customers get confused if they see a % of each line item. I just want to take 60% of the total without breaking it down and then the remaining 40% once the inspections are completed.
Sure, that's the easier way to do it and of course you could do it like that I have videos at the beginning of this playlist that talk more about the items list and choices you can make and videos at the end of the playlist to suggest to you how to make the items and the percent complete Or of what you want You can click in the top right corner of the video as it runs to get the link to the full playlist and watch the videos in proper order and you will see how to break down each invoice so that it's easy to get a percent complete of the whole invoice instead of lying by line Mark
Hi! I am trying to make an Invoice. But it doesn't have customize feature when I try to add the estimate where it is associated with. It will copy exactly the same. When I tried to change the quantity, In Estimates & Progress Invoicing Summary, it didn't showed that it only finishes 20%, rather it closed the estimate completely. How is this?
How do I remove the "SALES" list from my TRIAL BALANCE sheet? at 6:20 your Trial Balance sheet only includes " Account Receivable" and "Income From..."; my TRIAL BALANCE sheet has "Accounts Receivable - $1350", "Income From... $1050" and then "SALES $300".
When you set up your items list your item is connected to the sales account rather than the video or Eddie and income account so modify your list of products and services
@@worldwidequickbooks Thank you for the quick response! I modified the items it include "CARPENTRY" to "INCOME FROM HEATING EXPENSE" (I must have simply forget that step) and it works wonderful!! Your videos and tutorials are absolutely amazing and extremely helpful
Hello to all my contractor friends using QuickBooks online! This QuickBooks Online instructional video class will show how to record invoices that we give to the clients as we make progress on the job. These invoices are part of the contract and the client agreed to pay for work done as we make progress on the job. They will indicate to QuickBooks Online that the job is a larger percent complete. They will also acknowledge income actually earned and show the customer’s increase in balance on the open invoice report.
I thank you all and hope that you will click “like” and “subscribe.
Thank you for sharing your knowledge about qb. You're awesome.
I have a question about this matter.
What happens when we invoice the client before starting a project? In large projects we ask the customer for "x"% in advance as a "First payment". What type of report would give us accurate information?
Thanks again!
Good question!
First watch the whole palylist in order. Numbers 8 - 13 will give you 1 option.
ua-cam.com/video/tMlU65vPmuw/v-deo.html
Numbers 4 - 7 in this playlist will give you additional options on how to record payments before any service was done.
ua-cam.com/video/1PL1xHBIOS4/v-deo.html
I know both playlists will help you. I hope you will click "like" after watching each of them and I hope you will subscribe.
-Mark
-Mark
Thank You for doing these videos. I like your explanation of progressive invoicing.
How do you record an overpayment on a progressive? If the client paid for a larger chunk of your estimate than what you invoices?
Thank you for the compliment
If you receive payment more than the invoices that you build, then just record them in the receive payment window and wait for the future invoices to come
QuickBooks will generate a credit and you can just wait to apply the credit later to the invoice that you make later
Please make sure that you can see the entire contract the playlist by looking in the description field or clicking on the link in the top right of the video
The playlist explains everything within its context if you do the whole course, and in your particular case, you should also watch the playlist called quote Advanced receivables" that you can find in the main Channel page if you go to the channel page of this video and search in the channel Page search bar for advanced receivables, it will show you every option when you get paid in advance before you Bill or invoice the client
Please confirm you found both playlist and if not that I will send you the links
Mark
You are the best
Thank you so much
When is QBO going to allow an invoice format that shows Prior % and/or Prior Amt invoiced.. so that we can say for example bill up to 70% complete but easily see that we have prior % billed of 30% so we can quickly determine and show current progress invoiced is 40%.
Thank you but the desktop version of this does show that. Unfortunatly, QBO, not YET. You could however contact sales and support to "suggest a feature". I'm sure if thye could, they would so the tecjnology keeps changing and we can only hope for the best.
HOWEVER,
Here is the link to the updated contractors complete video tutorial that includes the updated version of this topic and all other, If you warch this in proper order, I'm sure you will have everything you need.
ua-cam.com/video/cSVTlP7zGso/v-deo.html
-Mark
TLDR: QuickBooks Online allows contractors to create progress invoices for the work completed on a project, track the amount owed from each customer, and manage accounts receivable for each client.
00:00 💡 Record invoices from estimates to bill clients for progress made on the job.
00:51 💼 Invoice the client for the progress made according to the contract in QuickBooks Online, and choose the specific project when creating the invoice.
01:59 📊 QuickBooks Online allows contractors to invoice clients for a percentage of the items listed on the original estimate.
02:58 📝 Create progress invoices in QuickBooks Online by copying the invoice, inputting the date, and checking the progress and invoice summary reports.
04:15 💡 In QuickBooks Online, progress invoicing allows you to track the amount owed from each customer and the amount paid for any particular invoice.
05:39 💡 You can track progress invoicing in QuickBooks Online, see the results in the trial balance, and manage accounts receivable for each client.
07:13 💡 Enter custom amounts for each line on the invoice and only change the money amount, not the quantity.
08:35 💼 Invoicing progress in QuickBooks Online for contractors, showing how to input custom money amounts for each line instead of a percent of everything, resulting in invoices that have not been paid and remain payable by the client.
Great
I absolutely love your videos over almost any other! Between this video and the one for customer deposits, I have a question. So, my company requires customers without a credit agreement on file to pay 50% up front. I've been using the progress invoicing for this purpose because it allows me to send an invoice to the customer for 50% of the total. We don't order the supplies until the deposit has been paid. Is this good practice or should I be doing this another way using the deposit feature?
Thank you for the compliment and thank you for asking
It's better to show you than to tell you. So click in the top right corner of this video to get the link to the full contractor's playlist.
In that playlist you will see that there are 2 different ways to record up front to pant advanced payments for job deposits and then you'll see which option suits you best.
You should watch the whole playlist in proper order for better understanding but you could go directly to the videos regarding job deposits and advanced payments and I'm sure those videos will help you
Please confirm you have what you need and I'll be here if you need any follow up
Mark
@@worldwidequickbooks I actually just finished the video "QuickBooks Online Contractors Deposit Feature for Down Payments" and I added a question there. Thank you for your prompt response.
Thank you for the helpful videos, but this feature invoicing % does not come up , any advice please
Things will work if you watch the video from start to finish and proper order without skipping any chapters
Make sure you watch the beginning. Chapters about account settings and activating the feature that you're looking for
Please confirm you fail didn't appear if you have any other questions
Mark
I have this same issue, I went back to the account settings chapter, and I don't see anything I missed. What is the setting called so I may listen for it more closely.
Great videos - very helpful. Our estimates are down to the part and can be pages long. Is there a way to create a summarized progress bill that just says for example 30% of job without listing every item at 30%
Thjank you Glen,
I don't see any but you can try to search for all reprots in the reprots menu and...
You can possibly customze the report you mentioned to be a summary. Try those 2 things and let me know,
-Mark
When I go to customize the invoice to the estimate the customization window doesn't appear. I hit add and the estimate just fills in. So i can't add a percentage or customized dollar amount. Any suggestion on getting the window to appear?
Thank you but in the updated version of the whole course video, It shows that you have to change the option in the account settings or company settings window in order to activate the progress invoicing. And then it Will work the way the video shows
I suggest you watch the full course in proper order. But you can see the company settings. Chapter and the progress invoicing chapter in the description field by the table of content. So take a look at this video
ua-cam.com/video/cSVTlP7zGso/v-deo.html
I'm here if you have any questions about finding in the video what you're looking for
Mark
How would you handle a transaction where the total amount of the job has changed. I made an estimate for a customer, invoiced a few weeks ago for 50% of the total, as a deposit. I need to send a final invoice but the total amount is now less than the estimate. Do I change the estimate total and then invoice or do I make an invoice from the original estimate and change the amount there?
Thank you and i'm happy to help you and I still have the solution
You need to make a change order and the video for change order. Is part of the same playlist that this video is a part of
If you click in the top right corner of the video you will get the link to the full playlist.if you watch the playlist in proper order you. Will understand everything better.? However,you can look at the titles of the videos and the playlist to Find The One that says Change order.
To change order video will show you what To Do regarding your question. But if you watch the playlist in proper order. You will understand everything better and i'm here if you have any follow up questions
Mark
Can you do progress billing using a group? This way we can itemize the bill internally and the customer will only see a % of a lump sum amount on the invoice.
Yes you can group your items together and if your items represent a category or group than that would work.
Give it a try and see if it works for you
Mark
Great videos. Will my client be able to see how much has been paid up to date somewhere on the most recent progress involve? Thanks
Yes, absolutely
You shouls end our client a STAEMENT each month. You can add to the statement reports like the customer balance detail or the open invocie report or any report you may want or need to send them.
Creating an invoice and adding from estimate, in your video it shows that Quickbooks will ask to invoice full amount or a percentage. I have watched all videos leading up to this and followed all steps and I do not get this pop up for progress invoicing. I am using Quickbooks online plus. Am I missing something?
Thank you for asking. It's p[ossible that you need to "activate" progress invocieing in the "account settings" window.
This video is # in the same playlist as your video. You really need to wactch them in proper order. Then everything will be clear.
ua-cam.com/video/I80VjoK41s8/v-deo.html
Please confirm you are ok now or need anything else.
-Mark
@@worldwidequickbooks Thank you so much that was it! You are truly the best! It shows the percentage now.
How can I edit a progress invoice? according to the job updates I always have different quantities or added stuff or stuff that we don't end up doing ?
You can simply reopen the original estimate and change the amount of the original estimate and that everything should adjust itself
If you need the video about the estimate or anything else for contractors, click on the top right corner of the video and you'll get the link to the full playlist that you should watch in proper order and everything will be clear
Mark
@@worldwidequickbooks I guess items already invoiced I can't edit or delete
To clarify- the date on the invoice should be the date that the work was completed, right? So if the work was finished on January 3rd, but I didn't get around to inputting the invoice in until January 5th, I would still put January 3rd on the invoice, is that correct?
Yes that is correct.
With most contractor type of contracts, the day that you completed the percent of work that becomes billable, is the date of the invoice. So, if your contract allowed you to bill every 25% of completion, then it would be the date that you finished the first 25% and so on...
-Mark
@@worldwidequickbooks Thank you! :)
I am not getting the "How much do you want to invoice?" pop up when I hit "Add". Is the 2022 version different then the version on this video?
Thank you Todd
1st, you must make sure you have the plus version of quick books online because essentials and the super cheap self employed version don't have the features of contractor needs
Secondly, you have to make sure that you're making an invoice from the original estimate and the estimate Comes from the contract
It will be clear if you watch this video series from the beginning of the playlist and watch all of the QBO contractors videos in order
The link to the full play list is under the 1st paragraph in the description field
You could also get the full playlist by clicking in the top right corner of the video
These confirm you have it and if you watch it in order it will clear things up
Mark
Can a customer pay the entire invoice in full? example: the estimate (1234) was for $50 after creating an invoice I sent the invoice (4321) to the customer totaling $25. If they paid $50 would the remaining $25 be a customer credit
Yes it would be a credit and you would understand it completely If you do the entire playlist that this video is a part of and watch the playlist in proper order.
Click in the top right corner of the video to get the link to the full playlist that this video is a part of.
Then you can watch the videos in order or at least read the titles of the videos in the playlist to get to the section of love receiving security deposits and payments and those videos will show you how it works if the customer pays too much in advance.
Please confirm you found the link and if not I'll send it to you
Mark
I am one month into switching from QuickBooks Premier Desktop to QBO. My Progress Invoicing “unlinked” about 3 invoices
so all totals are incorrect. This is a large project for us and is over halfway complete. How do I relink them? Thank you.
When you re-open them, do you see the estimate in the right hand panel? if so, the choose the estimate. Please let me know if it works.
Can I progress invoice 60% of the total job after the work in done and is just awaiting inspection? If I use progress invoicing, the customers get confused if they see a % of each line item. I just want to take 60% of the total without breaking it down and then the remaining 40% once the inspections are completed.
Sure, that's the easier way to do it and of course you could do it like that
I have videos at the beginning of this playlist that talk more about the items list and choices you can make and videos at the end of the playlist to suggest to you how to make the items and the percent complete Or of what you want
You can click in the top right corner of the video as it runs to get the link to the full playlist and watch the videos in proper order and you will see how to break down each invoice so that it's easy to get a percent complete of the whole invoice instead of lying by line
Mark
Hi! I am trying to make an Invoice. But it doesn't have customize feature when I try to add the estimate where it is associated with. It will copy exactly the same. When I tried to change the quantity, In Estimates & Progress Invoicing Summary, it didn't showed that it only finishes 20%, rather it closed the estimate completely. How is this?
I am using the plus version of QuickBooks.
What do you mean by "customize feature"?
Hi! There is no "custom amount for each line".
How do I remove the "SALES" list from my TRIAL BALANCE sheet? at 6:20 your Trial Balance sheet only includes " Account Receivable" and "Income From..."; my TRIAL BALANCE sheet has "Accounts Receivable - $1350", "Income From... $1050" and then "SALES $300".
When you set up your items list your item is connected to the sales account rather than the video or Eddie and income account so modify your list of products and services
@@worldwidequickbooks Thank you for the quick response! I modified the items it include "CARPENTRY" to "INCOME FROM HEATING EXPENSE" (I must have simply forget that step) and it works wonderful!! Your videos and tutorials are absolutely amazing and extremely helpful
How can I add the project name to the progress invoice?
The nproject name should be teh name of the job. That's the first thing you should put whne inputting invocies
-Mark