Earned revenue different than my estimated revenue

Hello, Serrano. 

There are a couple of reasons why there's a difference between your estimated revenue and your earned revenue. I'm happy to share the details with you. 

Invoicing a customer directly can affect your estimated versus earned revenue. There won't be any estimated value calculated under their account.

Plus, changes on the estimates and invoices can greatly affect your revenue flow as well. 

Also, another reason is that there might be sales receipts that impacted your earned venue. 

You can compare your earned and estimated revenue transactions by pulling up a report. I recommend using the customized Job Estimates vs. Actuals Detail report for this. 

Here's how to pull it up: 

1. Go to Reports, then hover on Jobs, Time & Mileage. 
2. Select Job Estimates vs. Actuals Detail.
3. Choose a customer (you can view all which I'll explain later), then proceed with OK.
4. Click the Customize Report button.
5. Under Display, uncheck all of the boxes except Est. Revenue and Act. Revenue. 
6. Click OK. 

This will show a detailed view of your revenue from your items. You can click on the amounts (under Estimated or Actuals column) to show the transactions.

If you want to show all of your customers, you can customize it to change your filters: 

1. Go to the Customize Report screen again.
2. Click the Filters tab.
3. Under Current Filter Choices, highlight Name.
4. From the drop-down menu, select All customers/jobs. 
5. Click OK. 

If you'd like to see another data from a different report, this article can help you build an effective report: Understand reports.

Ready to reconcile your customer payments? This article can guide you through the process: Reconcile an account in QuickBooks Desktop.

Do you have more questions about your income? I'm happy to share other details with you. Just tell me what you need to do and I'll be right there with you. 

Thank you for the help!! Follow up question is what do you do when the Job has been completed but the percent of completion is not at 100%? My estimated revenue and earned revenue are not matching, is this a setting on the job? What could it possibly be?

Good morning, @Cserrano20. 

Thanks for reaching back out to the Community. I appreciate you coming to ask us some more clarifying questions about this subject. 

There could be a few reasons as to why your job isn't 100% complete. However, let me ask you a few questions to get to the bottom of the problem: 

• Are you seeing them not match up on the report? 
• Can you provide a screenshot of the job and then of the report? 

Once I've received some more information on this issue, I'll be able to determine the best solution for your business. 

I want to ensure that all of your concerns are addressed as soon as possible. I'll be waiting for your response!

When I run the WIP report it says the Estimated revenue is $136500, Earned Revenue is $115,600 and the Actual Revenue is $136500. Making the percent of completion at 85% when in fact the project is completed.

Thanks for the additional details, @Cserrano20.

Since the job is already completed make sure that the percentage of completion is set to 100%. If you use Job Profitability reports, we can filter them to include your WIP account and track the amount in WIP by the job.

1. Go to the Reports menu.
2. Select Custom Reports and then Summary.
3. Click the Customize Report tab, then select Display.
4. Select the Display columns by a drop-down arrow, and then choose Account list.
5. Click the Display rows by a drop-down arrow, and then choose Customer.
6. Select the Filters tab.
7. Click the Account drop-down arrow, and then choose your WIP account.
8. Click OK once done.

When the projects complete, make the invoice or sales receipt for the sales price. Then, add the two charged items to ensure a negative amount for Transfer into COS. The invoice end total must match the sales price.

However, if you already set the completion as 100% and estimated and earned revenue aren't matching, you can review the transactions created for the discrepancies. Also, I'd suggest contacting our Customer Support Team for further assistance on how to track your revenues. Please refer to this article on how to contact them: Contact QBDT support.

For future reference, read through these helpful articles. It helps you learn about how to filter the report based on your business needs:

• Customize customer, job, and sales reports in QuickBooks Desktop.
• Tracking job costs

I'm looking forward to hearing from you again. If you have any other QuickBooks questions, please feel free to add a comment below. I'm just around to help. Take care always.