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dolds-shippes-co
December 19, 2023
Question

Can someone please help me understand why there are two ways to create an estimate for a project?

  • December 19, 2023
  • 1 reply
  • 0 views
When I create a estimate under a project it gives me option to markup. When I create an estimate under sales its different. But both of these show up on the project as an estimate, doubling the quoted price.

1 reply

JaeAnnC
JaeAnnC
December 19, 2023

Thank you for becoming a part of the QuickBooks Community, Dolds. I'm here to provide insights into the distinctions between generating estimates under Projects and Sales in QuickBooks Online (QBO).

 

Although both methods lead to the same outcome, there are variances in their functionalities. 

 

When estimates are created on the Project page, users have the ability to intricately associate them directly with a specific project. This approach also incorporates specific fields, such as Markup and Customer Price, allowing the transfer of billable expenses to the customer.

 

On the other hand, entering an estimate on the sales page takes a more general approach, focusing on the sales process itself rather than linking it directly to a specific project. Unlike on the Projects page, it doesn't include the Markup field.

 

To prevent duplicate estimates, I suggest opting for the method that suits your needs most effectively.

 

Once a customer approves your estimate, you can seamlessly convert it into an invoice to link them together and ensure accurate bookkeeping.

 

Feel free to keep me posted if you have any additional queries about estimates. Our team is available 24/7 to provide the answers you need. Stay safe, and have a wonderful day ahead.

D
dolds-shippes-coAuthor
December 20, 2023

First thank you for your response but this brings up further discussions.

The estimate that is created on the project page gives profit margins and is detailed which we like for in-house use, but not to be sent to the client. So therefore, we use the estimate on the sales page. By doing this it is causing both estimates to show up on the project page doubling the total. 

Any suggestion on how to work around this?

Also want to make note that in order to use the Budget vs Actuals Report I have to use the estimate on the project page, and again how we estimate vs how we bill our clients is completely different.  

 

S
ShyMae
December 20, 2023

Hello there, Dolds. I got the information you need regarding the estimates under projects and sales. 

 

To avoid doubling the total on the project page, it would be best to create just one estimate either on the project page or sales.

 

On the other hand, I'd like to share with you that in QuickBooks Online Advanced, there's a great feature called 'project cost estimate', which allows you to forecast your expenses and income for each product or service. This enables you to share the estimate with your customer, while keeping your costs, markup, and profit margin private. If you wish to use it, you may consider upgrading your subscription. 

 

You can learn more about this feature by checking out this article: Project cost estimates.

 

Moreover, you can use projects to track your labor costs and profitability. 

 

You can still connect with for further assistance managing your projects and estimates. I'm always here for you. Best wishes!

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