In this tutorial, you’ll learn how to create estimates in QuickBooks Online. Estimates can be used to provide quotes and bids to customers for proposed jobs. Show
We hope you’ll find this free tutorial helpful for learning QuickBooks Online, our best overall pick for small business accounting software. The tutorial is designed for you to follow along in your own QuickBooks account. To those who have no QuickBooks Online subscription yet, you can choose from a 30-day free trial or 50% off for three months. Visit QuickBooks Online This tutorial is part of our series of Free QuickBooks Tutorials. The video below and the illustrated instructions that follow present the same information. Step 1: Navigate to EstimateClick on the +New button at the top of the left menu bar and then select Estimate in the first column under customers, as shown in the image below. Click on Estimate under the +New button Step 2: Enter the Required InformationThe create estimate screen provides fields to be completed that will carry information to the estimate form. The exact fields provided are determined by the sales form settings you chose in How To Set Up Sales Form Content in QuickBooks Online. The animated GIF below shows the screen used for creating a sample estimate for our fictitious company, Paul’s Plumbing. Creating a new estimate in QuickBooks Online Below is a list of some of the important fields you need to complete in QuickBooks Online’s create estimate screen.
Below the customer field in the estimate input screen is the estimate status. Click on the drop-down arrow next to Pending to change the estimate status. You can choose from four statuses to help track your outstanding estimates.
Set the status of estimates in QuickBooks Online Take the time to set up your company: Creating estimates is a great example of why it’s so important to complete your company setup. The majority of the estimate populates automatically if your customers and products and services are set up properly. Creating estimates will be even faster if you customize your sales form content to include only the fields you need. Step 3: Click Save or Save and SendOnce you enter and verify all the information, click Save or Save and Send if you want to send the estimate right away. You can see what your estimate looks like by clicking on Print or Preview in the bottom menu bar of the create invoice window and then selecting Print or Preview again as shown below. Print or preview an estimate in QuickBooks Online When you opt to click Save and Send, an email template form will open where you can accept the email defaults that you set up in How To Set Up Messages in QuickBooks Online, or you can type a custom message for this estimate. A copy of the estimate will be attached to the email automatically when you click the green Send and close button. An email template form appears after you click Save and Send If you wish to make changes to the estimate, you may close the print preview window to return to the input screen. Below is a sample estimate that we have created for our made-up company, Paul’s Plumbing. Sample estimate created in QuickBooks Online Why You Should Create Estimates in QuickBooks OnlineWhile the main purpose of creating estimates or quotes in QuickBooks is to communicate your pricing to potential customers clearly, they also serve several other purposes:
Estimates aren’t a required transaction for the sales and income accounting process. No money changes hands when you create an estimate in QuickBooks, and estimates have no impact on your financial statements. Wrap UpYou’ve now learned how to create estimates in QuickBooks Online. You can now create estimates and mail or email them to prospective customers. The next tutorial in our QuickBooks Online Training Course is How To Create and Send Invoices in QuickBooks Online. What are the status types for estimates in QBO?Here is an overview of the status:. Pending: Estimate is created. ... . Accepted: Estimate is marked as accepted by customer and you can start invoicing based off of it. ... . Closed: Estimate is closed and you cannot create an invoice from it. ... . Rejected: Estimate is closed and you cannot create an invoice from it.. Which option is used for estimates in QuickBooks?From the QuickBooks Home screen or on the Customers menu, select Estimates / Create Estimates. On the Customer: Job drop-down, select a customer or customer job. If the customer or job is not on the list yet, you can select Add New. Fill in the relevant information at the top of the form like the Date and Estimate #.
Which 3 types of customer statements can QuickBooks Online generate?A statement is a document showing the status of a customer's account at a particular point in time. QuickBooks can create three types of statements: balance forward, open item, and transaction.
How do I change the estimate status in QuickBooks Online?Step 2: Update an estimate's status. Go to Bookkeeping then Transactions then select All Sales (Take me there), or go to Sales then select All Sales (Take me there).. Find the estimate.. In the Action column, select the dropdown▼ and then Update status.. Select Accepted or another status. Then select OK.. |