How To Create An Estimate For Your Small Business

By QuickBooks Canada Team

2 min read

Through QuickBooks, you can efficiently create and design estimates, proposals, quotes, or bids for your prospective customers. You can email these estimates to your clients and convert them into invoices, following the completion of your work. Here are the steps to creating, personalizing and sending your estimate through QuickBooks:

How to Create an Estimate

  1. Open the Global Create Menu and navigate to the Estimate tab.

  2. Enter the prospective customer’s details. Click the +Add New button, then click on +Details and enter the client’s information. Include the customer’s email within this section, so you can quickly send your proposal.

  3. Add details to the product or service you intend to provide your client. If you are offering a new product or service, the details regarding this information can easily be included by clicking +Add New. Identify which account you want QuickBooks to list your product or service under. Contrary to a bank account, this is known as a bookkeeping or income account.

  4. Include the rate at which you have estimated for the client, in addition to the quantity of product or service you intend to provide.

  5. Click Save and Senda at the bottom right-hand corner of the page, and email the client your estimate.

Adding Your Personal Style

If you prefer to refer to your estimates as quotes, proposals or bids, you can change this on the form your customers see.

  1. Navigate to the Gear Menu, found at the top right-hand corner of your QuickBooks home page.

  2. Click Custom Form Styles, and then click on New Style.

  3. Identify the form style you wish to utilize for your proposal, and click Next on the bottom right-hand corner of the page.

  4. Navigate to the Header section and locate the Estimates box, underneath the Form Names section. Replace the word “estimates” with whichever term you prefer.

  5. Click Save on the bottom right-hand corner of the page, and label your style with a name.

  6. Now, you can easily use this style when writing your clients offers by locating the Customize tab at the bottom of the estimate’s page and clicking on the bid style you wish to use.

How to Accept a Client’s Estimate Approval

  1. Click the Sales option underneath the Transaction header on the tool bar, located at the left-hand side of your screen.

  2. Go to your estimate’s page, and locate the specific client offer that you wish to accept or reject.

  3. To approve or reject the estimate, click on Pending under the client’s name at the top left-hand portion of your screen, and change it to Accepted or Rejected. Include the name of the client and the date when the client agreed to your proposal.

Upon completing the work for your customer, you can efficiently transform your estimate into an invoice by locating the specific bid you want and adding it the invoice.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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