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Join nowQBO does not do installment sales, which is what you are talking about basically.
If you create an invoice for the full amount, you can receive payments against it during the year. But, a/r will show the full amount left as overdue, and if you file taxes on an accrual basis the income is posted as of the date of the invoice.
The only other option is to make an estimate for each month money will be due, then convert the estimate to an invoice. If you do it that way teh income is posted as of that date, and if you are cash basis taxpayer the income will only show when received.
I am trying to do this as well. Did you come up with a workable solution? If so, I would love to hear it.
Hello there, @mandymattos77.Let me add some information with regards to your concern.
We can set up progress invoicing it will let you send invoices over time as you work off an estimate in QuickBooks. This keeps project payments organized and connected from start to finish. Let me guide you through the process.
First, you'll need to turn on the progress invoicing from the Account and Settings. Once it's turned on QuickBooks will create a default progress invoicing template.
Here's how:
After that, create a progress invoice template. You'll need to use the premade Airy style and use it any time you create a progress invoice.
Here's how:
Once you already set up the template, you can now create an estimate. If your done creating an estimate, you may now create progress invoices from the estimate.
For the detailed steps on how to do it, you can refer to this article: Set up and send progress invoices in QuickBooks Online. This link also includes some option to track your progress invoices.
In case you want guide on how to receive and record invoice payments, please check out this article: Record invoice payments in QuickBooks Online
I'll be here if you need anything else. Please take care of yourself!
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