Hello there, AccountingMedia. To convert an estimate into an invoice, first enable Progress Invoicing in the Accounts and settings section. Then, you can specify the retainer amount by choosing either a percentage or a fixed amount during the conversion process.
To activate progress invoicing, click the Gear icon in the top right corner and select Account and Settings, followed by Sales. Then, click the pencil icon next to Progress Invoicing to activate it, and save your changes.
To convert an estimate into an invoice, start by clicking on All apps in the left navigation bar and selecting Sales & Get Paid. Next, navigate to Sales transactions and locate the estimate you wish to convert. Once you've found it, click the dropdown menu and select Convert to invoice. You'll need to choose the Percentage or amount to specify the retainer amount. After completing these steps, simply hit Review and send below to finalize the invoice.
After sending the invoice, your customer can make a partial payment, with a balance remaining.
Before finishing, consider QuickBooks Live Expert Assisted for streamlined accounting, accurate records, and professional support, freeing up time to grow your business.
Feel free to return whenever you need further assistance.
