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Re: Credit Memo's and Receiving Payments

Thank you for the steps to create an Estimate! This could possibly be very helpful!

Big question: In creating the "estimate", let's say we issue the estimate on 1/1/19 and set the Expiration Date to 12/31/19..... on 1/1/20, what happens to that estimate and do any additional actions need to be taken to be effectively balanced and not have this attributed to accounts receivable in any way? Looking for how this plays out :)

 

Also, let's say we send an "estimate" of $250 but receive a $60 quarterly payment? Can this be done with issuing an invoice for a partial amount and then the remaining estimate will still be there? Again, looking for the actions we need to perform here :)

 

And then there's the reverse scenario: an "estimate" is sent for $250, but $500 is received...do any additional steps need to be taken to complete this "estimate" to "invoice" conversion?

 

THANK YOU THANK YOU THANK YOU in advance for this valuable feedback!!! Cheers and happy accounting!

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