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Level 1

Estimates and Progress Invoicing

Hello - 

 

Our business is an electrical commercial contracting entity. A lot of our payments are done through title companies and waivers for certain amounts off the the entire contract amount.

 

Current process is we create an estimate for the entire project, turn it into an invoice for the total amount-  and then do progress invoicing off the estimate when we receive the amounts for each draw from the title companies.  There are two problems, one when we create an invoice from the estimate and do progress invoicing we are doubling in a sense our P & L.  And second if we just leave the estimate, and not turn it into a invoice for the full amount and just do progress invoicing off the estimate - the contracted amount does not show in the P & L. 

 

Anyone else know how to do progress invoicing and also show the full amount of the estimate/contract in the P & L?

 

Thanks!

1 Comment
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QuickBooks Team

Estimates and Progress Invoicing

I can see in here that you have posted the same question twice, @eciarrachi.

 

I'd recommend following the suggestions provided by my colleague: https://quickbooks.intuit.com/learn-support/en-us/other-questions/estimates-and-progress-invoicing/0....

 

Get back if you have other questions. We are all right here to help. Have a great day!

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