invoice from estimates

brastedhouse · ‎March 16, 2021

Good afternoon,

I think I have created a very big problem. I am taking care of a condominium association. The association has a special assessment on which 8 units owe 12 payments of $347.25 each. I created an estimate for the special assessment for each of the 8 units. It is $4,167.00 paid over 12 payments of $347.25 each quarter. What is supposed to happen is that each quarter an invoice is created against the estimate of 8.333% of the total. At12 quarters the estimate will be done.

That worked fine for me when I did it the first 2 times. But I had someone else do the invoices the last 2 times and they made the invoices and took the payments without the estimates being involved. So now I have 2 quarters paid against the invoices without the estimate and 2 quarters paid against the estimate.

The first thing I thought about was to void the non-estimate invoices and start over. But since they have been paid I bet that is not as easy aa void/recreate. Is there a way out of my predicament? The invoices are marked as paid and the money is deposited in the bank account.

Yikes! Any help will be gratefully appreciated.

Best, Scott

MirriamM · ‎March 16, 2021

Thanks for posting in the Community and providing detailed information about your concern, @brastedhouse.

You can still delete the invoice with the invoice payment to convert the estimate to an invoice. To do this, you'll need first to delete the invoice payment before the invoice.

You can press the Command + D on your keyboard. Or go to the Edit menu while opening the invoice payment, then select Delete. After that, delete the invoice.

Once done, you can now convert the estimate to an invoice. Then, when receiving pr recording the invoice payment, check the date when the invoice payment is posted on your bank account, so that will be the one you'll be using so you can match it on your banking transactions.

Moving forward, you may consider using the Progress invoicing feature that gives you an option to split an estimate into many invoices so you can invoice customers for partial payments. For more details about this, see this article: Set up and send progress invoices in QuickBooks Desktop.

For future reference, adding some links which you may find helpful:

Don't hesitate to reach back out to me if I can be of additional assistance. I'd be happy to help you out. Have a great day!

View solution in original post

MirriamM · ‎March 16, 2021

Thanks for posting in the Community and providing detailed information about your concern, @brastedhouse.

You can still delete the invoice with the invoice payment to convert the estimate to an invoice. To do this, you'll need first to delete the invoice payment before the invoice.

You can press the Command + D on your keyboard. Or go to the Edit menu while opening the invoice payment, then select Delete. After that, delete the invoice.

Once done, you can now convert the estimate to an invoice. Then, when receiving pr recording the invoice payment, check the date when the invoice payment is posted on your bank account, so that will be the one you'll be using so you can match it on your banking transactions.

Moving forward, you may consider using the Progress invoicing feature that gives you an option to split an estimate into many invoices so you can invoice customers for partial payments. For more details about this, see this article: Set up and send progress invoices in QuickBooks Desktop.

For future reference, adding some links which you may find helpful:

Don't hesitate to reach back out to me if I can be of additional assistance. I'd be happy to help you out. Have a great day!

brastedhouse · ‎March 18, 2021

Thank so much, that worked like a charm. I was afraid it would be extremely difficult. We have retrained on payments on estimates and I think we have solved the issue. Thanks again.

Topics

Training

Community

Resources

invoice from estimates