Can the system do the calculations on monthly progressive invoicing?
If I invoice the first month 50% and want to invoice the next month another 20% can I just enter the 20% in and quickbooks will calculate what the total invoice for the month should be? I tried to do that and system wanted to invoice the client 70% which would have put the invoice over the estimated fee. I hope this makes sense.
Let me help share information about how QuickBooks calculate the amount of each invoice when utilizing progress invoicing.
You're on the right track. Even if you've invoiced your customer 50% for the first month and 20% on the second, it'll still calculate 70% as the invoiced amount since the original estimate has not been closed from where they were linked into.
With this, you can consider creating a separate progress invoicing if you wish to create 20% amount of transaction after creating the other one with 50% of each line item.