Invoicing Customers with Payment Plan

by Karen
(Vancouver, BC, Canada)

Invoicing Customers with Payment Plan

I have just started using QuickBooks and it would be very helpful for our company if we could invoice and set dates & amount due (payment plan). Near as I can tell, I have to use the estimate and progress billing windows to make this happen but then I'm not able to show a statement with the full amount of the job and the amount now due.

Jennifer replies:

Yes, the thing about statements and invoices is that they show amounts that are already revenue. If it's not revenue then it doesn't show on the statement or invoice.

When you use progress invoicing, the only amount that is revenue is what you bring to the invoice. Whatever remains on the estimate is not revenue yet.

Perhaps you can setup a custom field in the customer's record, record the full amount of the job there, and create a corresponding field on the statement. QB will add the custom field to the statement. I hope this makes sense.

Also you could try creating a memorized invoice with the set amounts. But I'm not sure if this would lower the estimate for each one.

If you decide to give these ideas a shot, let me know how they work out by posting a comment below.

Thanks for writing.

Invoicing customers with payment plan