very often you will have to make several invoices for one estimate in that case it would be very
good if you could turn on the progress invoicing feature in QuickBooks progress invoicing gives
you the ability to make an invoice based on a percent complete not only from the items
completed it also gives you reports that show the percent complete after each invoice you switch on
this feature in the Preferences window let's take a look at the file before you switch on
the preference and then let's take a look at the file after you turn on progress invoicing
from the main menu click Edit preferences when the Preferences window opens up click jobs and
estimates then click company preferences do you create estimates this feature was turned on in
a previous video do you use progress invoicing the answer is yes now after we click OK when we
come back to the reports main menu and go down for jobs time and mileage we see there's another
report added to this list job progress invoice vs. estimates let's open it up and push a for
all the job progress invoice vs. estimate report shows the estimates percent complete compared to
the invoices of those estimates but you may well ask why does the Hanson place estimate show zero
percent complete we know we made invoices for Hanson place well that's because the progress
invoicing was not turned on at the moment we made those invoices unfortunately you would have to
delete those invoices and re-enter them after you turned on the progress invoicing feature then you
would see the percent complete let's go ahead and pin this report up in the icon bar at the moment
the report is the active window from the main menu click view add job progress invoice vs. estimate
to the icon bar click OK and here it is now we have a shortcut to this report now let's look
at our first example imagine on January 9 we made invoice number three for the Mockingbird Lane job
under brown company now we're billing brown for 20 percent of the job complete so instead of listing
each completed item like we did in the previous video we will tell QuickBooks that the job is 20
percent complete well how do we do that let's take a look we open up the invoice window and
we just put in the information the invoice was dated January 9 of 2017 it was invoice number
3 it was for the Mockingbird Lane job from Hanson Place notice it still selects the estimate that's
associated with Mockingbird Lane for the brown job when we click here and then click OK aha
this window opens up that was not present before we switched on the progress and voicing feature
it's asking us should we create an invoice for a hundred percent of the job or should we create an
invoice for a percentage of the entire estimate this third choice down here we already did in the
previous video so we will not do selected items right now right now let's just put here a percent
and the instructions said that On January 9th we build the client for 20% of the entire Mockingbird
Lane estimate now look what happens when I click OK aha the quantity of each item is why is the
quantity of each item 5 because originally on the estimate the quantity of each item was 25 and we
told QuickBooks that we finished 20 percent so QuickBooks takes that percent and multiplies
it item by item to adjust the quantity to put on the invoice if we agree with everything we click
Save and close and now when we open up the job progress invoice verses estimate aha look at that
the Mockingbird Lane estimate is now 20 percent complete let's continue in our little story with
example 2 let's imagine on January 14th we made invoice number four for the Mockingbird Lane job
under brown company and on invoice number four we tell QuickBooks that we did an additional 40
percent more on this invoice for the Mockingbird Lane job we open up the invoice window from the
icon bar again we have to move the date forward this is January 14th of 2017 select the same job
Mockingbird Lane select the same estimate now it's asking us the same question and again it's
a percent of the estimate and we're going to put 40 percent now look what happens when we
click OK aha QuickBooks puts the quantity of 10 because 10 is 40 percent of the original 25
quantity for each item so it puts a nut puts 10 percent it's 40 percent more progress made
before we save it let's make sure to make the date January 14th of 2017 click Save and close now when
we open up the job progress invoice vs. estimate notice for the Mockingbird Lane job it now says
60 percent complete that's because the previous invoice finished 20 percent of the job and the
recent invoice finished another 40 percent and that's why this report is showing the job is 60%
complete now it's very important to finish our little story with example 3 on January 17th we
made invoice number 4 again for the Mockingbird Lane job under brown company however this time
we're not going to tell QuickBooks what percent we completed up until January 17th this time we're
just going to tell QuickBooks how many units of each service has been performed since the
last invoice and let's see if QuickBooks can figure out what percent it is and calculate
the overall percent complete let's take a look we open up the invoice window again we move the date
forward to January 17th of 2017 we choose that Mockingbird Lane job we choose the same estimate
we've been working with but this time we're going to click select items and click OK now QuickBooks
gives us the individual items so I have to click show quantity and rate in order to adjust it by
quantity what it's showing you here is what the estimated quantity is what the estimated rate is
these are all the information that they got from the estimate but notice this this is telling you
the prior quantity in other words it's telling you the quantity that was actually used now what
we have to do here is put in the quantity that we actually earn of each item since the last
invoice so this would be the column to put in the additional items that we did of service or
product since the last invoice now we could click show percent of course remember you might have to
make your window a little wider if it doesn't open wider you might have to adjust your column width
if you want to see the information in every column in this specifying invoice amounts for
items on estimate window okay but this is the way you would do it now when you click OK notice it
puts the quantity of five which I happen to know is another 20% of the original total estimate so
when we click Save and close can you guess what percent of completion this estimate is
at well let's open up the jog progress invoice verses estimate report aha now it's 80% complete
because those additional five item five items for each item listed was an additional twenty percent
since the last time we build the customer and that means the percent complete is now 80 percent