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Sharon119
May 9, 2024
Question

Closing and estimate

  • May 9, 2024
  • 3 replies
  • 0 views

Since May 7th when Quickbooks online switched to the new invoice I can no longer close and estimate.  I have estimates that have not been approved or declined so I want to close them but when you try to do a status update, closing is no longer an option. If you are on the actual estimate and go to manage: your choices are pending, accepted, converted or declined and if you are in the customer list of transactions and click the down arrow next to edit/print your choices are pending, accepted, or declined. How do I close an estimate?

    3 replies

    J
    Jelayca V
    May 9, 2024

    I can share information about managing estimates in QuickBooks Online (QBO), Sharon119.

     

    In QBO, an estimate is a non-posting transaction. This means it doesn’t affect your accounts or financial reports until it’s converted into a posting transaction, such as an invoice.

     

    When you create an estimate for a client, it remains in a Pending state until the client approves it. Once approved, the status changes to Accepted. If the client declines the estimate, the status changes to Declined.

     

    The status Converted is used when the estimate has been turned into an invoice. This is the key step to closing an estimate. When you convert an estimate to an invoice, you’re essentially finalizing the transaction. The goods or services have been or will be delivered, and the client is billed for them. 

     

    For future reference, you may find below articles helpful:

     

     

    If you have follow-up questions about estimates in QBO, let me know by commenting below. I'm more than happy to answer it for you. Have a nice day.

    S
    Sharon119Author
    May 10, 2024

    I understand everything that you said, but that does not answer my question as to why you can't close and estimate anymore.  The customer has not accepted, nor declined the estimate so we would like to close it so it no longer shows as a pending estimate. We pull an open estimate report often so that we can check status of work being done and it can get annoying to have all of the ones pending that no longer need to be there. Please answer my question and don't tell me to give my feedback because it doesn't seem to be helping.

      JoesemM
      JoesemM
      May 10, 2024

      Hi Sharon119. Let me answer your question about why you're unable to close an estimate in the new updated layout.

       

      In the new interface, the option to close the estimate is unavailable. If you decide that you don't want to do the work, it's better to change the estimate status to Declined rather than delete it. This keeps a record of the estimate on your accounts for good bookkeeping.

       

      However, if you don't need or want to keep a record of the estimate, simply delete it. To do this, click the Delete button on the estimate form to completely remove the estimate from your books.

       

      Here's how:

       

      1. Go to Sales.
      2. Select the Estimates tab.
      3. Find and select the estimate.
      4. Select More Actions.
      5. Choose Delete and then select Yes to confirm.

       

      From the Manage option, just click the Actions dropdown and click Delete. For more details about creating estimates in the new layout and how to customize its display, see this article: Create and send estimates in QuickBooks Online.

       

      I have some helpful resources that will guide you through the new layout and assist you in accurately recording the payments you receive from your customers:

       

       

      I'll be right here to continue helping if you have any other questions or concerns about estimates. Have a great rest of the week.

      D
      dmarbach
      October 22, 2024

      It is absolutely ridiculous that I cannot choose to close an estimate once a project is complete and related invoices are paid.  As a small business, we rely on the list of accepted estimates to know what's in our workflow and financial pipeline and I rely on the list to know which estimates still have a balance due if they are "converted" to make sure that invoices are sent.  Because I cannot close these invoices, you have just made our report on open estimates and balances null and void and I've wasted so much time reviewing these estimates over and over to remind myself which are actually still open and which are closed since I have no way to annotate that.

       

      I finally resorted, in total exasperation, to deleting any estimates that are actually closed so they are not still on my list and causing confusion.  Your "update" and choice to not just LET US CLOSE ESTIMATES THAT ARE CLOSED means that I lose any project information that was in that estimate that I wanted to hold onto.

       

      Thanks, Quickbooks, for yet again complicating something that is actually pretty simple.

        L
        lkiy
        December 4, 2024

        I agree with everyone above.  Getting rid of the closed option makes zero sense.  I want to be able to pull up my estimates and know which ones are 100% fufilled & paid in full.  There is no way of me knowing that without clicking on each associated invoice.  Please bring back the closed option.  It saying converted doesn't tell me if we are DONE with the project from the Estimate screen.  Let's not make things more complicated than they need to be.  

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