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bridget-petro
Level 1

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

We often write estimates with not to exceed amounts and invoice less than the estimated total. So now I have all of these open estimates that are complete. Can I marked them as closed even though they show an open balance? I don't want them to keep showing up on my reports when they are technically completed.
7 Comments 7
MirriamM
Moderator

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

It's great to see you here in the Community forum, bridget-petro

 

An estimate is a non-posting transaction that you can send to your customers, so they have an idea of what product or service will cost them. Thus, whether the estimate converts to invoice or not, you can mark it as closed.

 

Let me show you how:

  1. On the left menu, tap Sales
  2. Go to the Customers tab. 
  3. Select the customer.
  4. Locate the estimate and click the down arrow in the Action column.
  5. Choose Update status
  6. Pick Closed, then OK.

To learn more about how the estimate feature works in QuickBooks Online, see this article: Set up and use estimates.

 

For future reference, you may find below articles helpful:

If you have follow-up questions about the process above or other QuickBooks concern, let me know by commenting below. I'm more than happy to answer it for you. Have a nice day.

 

 

 

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**Mark the post that answers your question by clicking on "Accept as solution".

bridget-petro
Level 1

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

Thank you, Mirriam.

 

Will marking the estimate as closed affect the linked invoice at all? I just want to close the remaining balance that will not be invoiced so they stop populating on my open estimate reports. 

IamjuViel
QuickBooks Team

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

Hello, @bridget-petro.

 

Let me share additional details on how QuickBooks handles your estimates and progress invoicing.

 

Closing an estimate will not affect your invoice balance.  However,  you'd see a balance once you run the Estimates and Progress Invoicing summary by the customer. This report displays estimates per customer, invoiced amounts, and the remaining amounts to be invoiced.

 

Here’s how:

  1. Click the Report menu.
  2. Go to the Sales and Customer sections.
  3. Select Estimates and Progress Invoicing summary by customer. 1038.JPG

To view your estimates grouped by customer, you can generate the Estimates by Customer report. It shows whether the estimates are already accepted and invoiced. 

You can read through this article for more insights about converting an estimate to an invoice: Set up and send progress invoices in QuickBooks.

 

I’ve got these articles to learn more about generating reports in QuickBooks:

Get back to us here if you have other questions about managing your sales transactions. I’m always here to help.

NRob
Level 1

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

Is it possible to mark a estimate closed when only 50% was billed but the other 50% will not be billed?  I have a project set up on an estimate, billed the 1st 50% and the client decided not to move forward with the project.  I don't want this to show that it is is still open to be billed.

MirriamM
Moderator

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

Welcome to the thread, NRob.

 

Yes, it's possible. Since an estimate is a non-posting transaction, it won't affect any balances. 

 

To close an estimate, here's what you'll need to do:

  1. Tap Sales on the left menu and go to the Customers tab. 
  2. Select the customer.
  3. Locate the estimate and click the down arrow in the Action column.
  4. Choose Update status
  5. Pick Closed, then OK.

You can tale a look at this link to know more about how the estimate feature works: Set up and use estimates.

 

If there's anything else I can do for you, let me know by commenting below. I'd be around to help. Take care.

flynnhudson
Level 1

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

How do you handle this action in Desktop Premium?  The only avenue I see is to simple mark the estimate as Inactive...not the same as closed is it?

AlcaeusF
Moderator

Can I mark an estimate closed if it has an open balance that has not been (and won't be) invoiced?

Hello there, flynn.

 

Welcome to the Community. Allow me to chime in and share information about entering an estimate in QuickBooks Desktop.

 

An estimate is a non-posting transaction that doesn't affect a customer's opening balance. The Desktop version doesn't have the same option as Online when handling this type of transaction.

 

Yes, you're right. It only has the Mark as Inactive checkbox in Desktop. Only mark the box if you no longer want an estimate to show on your Estimate reports in QuickBooks.

 

You don't need to change the status to close when creating a transaction using an estimate. Use it directly to create a bid, proposal, or quote and later be turned into a sales order or an invoice.

 

Creating an estimate is part of your usual A/R workflow in QuickBooks Desktop. I've attached a link for you to see the complete list of workflows and different ways you can track customer transactions: Get started with customer transaction workflows in QuickBooks Desktop.

 

Drop a comment if you have more questions about entering sales transactions, including non-posting transactions. Keep safe, and have a great rest of the day.

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