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DJ33
May 13, 2020
Question

Automatic closing estimates

  • May 13, 2020
  • 2 replies
  • 0 views

Hello!  I use QB Premier 2019 desktop version and regularly issue estimates to customers.  When we receive the order and prepare an invoice using the open estimate, the estimate remains "active" on the open estimates report.  Is it REALLY necessary to manually close/make inactive estimates  that have been converted to invoices?  Shouldn't QB do this automatically?  Or am I missing something?  Any help on this would be most appreciated!

    2 replies

    R
    Ryan_M
    May 14, 2020

    Hi @DJ33,

     

    I'll share insight on your query about estimates in QuickBooks Desktop (QBDT).

     

    Estimates in QBDT aren't marked as inactive as soon as it's converted to an invoice. You'll have to manually mark it as inactive so it won't appear in your reports anymore. 

     

    What you can do is check for converted estimates. So it would be easier for you to know which estimates are supposed to be marked as inactive. 

     

    Here's how:

     

    1. Go to the Customers menu.
    2. Select Customer Center.
    3. Hit the Transactions tab.
    4. The default filter is All Estimates and All for the Date. Change if necessary.
    5. View the Active Estimate? column, as well as the Open Balance column.

    An estimate is a part of the Accounts Receivable workflow. See this article for other workflows available in QBDT: Get started with customer transaction workflows in QuickBooks Desktop. 

     

    Let me know if you have other questions by leaving a comment below. I'll get back to you as soon as I can. 

    D
    DJ33Author
    May 14, 2020

    Thanks for this, Ryan, but I'm afraid it doesn't help much.

     

    I've followed your instructions, but every estimate shows an open balance of the same amount; even ones that I've confirmed WERE converted into invoices and paid by customers.   I'm assuming that the open balance on this report should be zero if the estimate was converted and paid, right?  Is there a step I'm missing to get the info to show correctly?  Or is there another report to view converted estimates, rather than having to look at each customer's transactions manually?

     

    Thanks again for your help.

      R
      ReymondO
      May 14, 2020

      Thanks for getting back to us and following the steps provided by my colleague above, @DJ33.

       

      An open balance will show in the report if the entire amount of the estimate was not used to create an invoice (Progress Invoicing). For example, when you create a 500 worth of estimate and convert only half of it to an invoice. The uninvoiced balance will reflect on the Open Estimate report since a remaining amount is waiting to be converted into an invoice.


      If you still see an open balance in this report, we can use it to convert another invoice. This way, it will zero out the remaining balance on your Open Estimate report. 

      In case you need to customize your transaction reports in the future, you can refer to this article: Customize reports in QuickBooks Desktop.

      If you ever have other questions we can help you with, feel free to swing by the Community!

      P
      PJBooks
      August 19, 2024

      Four years later...  How's everyone doing with this?  A recent similar experience caused me to find this post and I was wondering if there has been a cure or a work-around.  Even marking the Estimate "inactive" does not work, it still shows as active.  Can estimates be zero'd out with a credit entry to a line item?  It's definitely a brain teaser.  Let me know if you found any answers.

      JenoP
      JenoP
      August 19, 2024

      Automatically closing estimates would simplify tracking the stages of your sales processes, PJBooks. Let me share some details about managing estimates in QuickBooks Desktop.

       

      There's a setting within the Preferences menu that allows estimates to be automatically closed after they have been invoiced. This eliminates the need to add an additional line item to zero it out.

       

      Let me show you how:

       

      1. Go to the Edit menu and select Preferences.
      2. Look for Jobs and Estimates from the left menu.
      3. Proceed to the Company Preferences tab.
      4. Check the box for Close estimates after converting to invoice.
      5. Click OK.

       

      After that, the system will automatically close out the estimate after invoicing. This helps keep your estimate status up to date and shows that the estimate is completed after billing the customer.

       

      I'd also like to recommend some additional resources in case you might need them:

       

       

      Please don't hesitate to reach out to the Community if you need any other assistance interpreting reports, setting preferences to streamline workflows, or any other questions about using QuickBooks. We're available 24/7 to provide you with the support and help you need.

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