Customer receives estimate. Makes a payment in full, so I must create an invoice. We still have to order the product and ship in say 60 days. Track incomplete status?

Thanks for taking the time to reach out to the Community for support, dan.

I'll provide information on tracking estimates in QuickBooks Online.

Beforehand, I'd like to clarify some details to help me get on the same page. Are you trying to verify what status of the estimate should be entered for the product that hasn't been received yet by your customer? 

If so, here is an overview of the statuses:

• Pending: If the estimate is created and has not been accepted by the customer yet. No invoice has been created from it.
• Accepted: The estimate is accepted by the customer.
• Closed: The estimate is closed, and you cannot create an invoice from it. This will happen automatically once you invoice for everything that's on the estimate. You can also mark an invoice as closed instead of rejected if you have not heard back from your customer.
• Rejected: The estimate is closed, and you cannot create an invoice from it.

When your customer received the estimate and paid it in full, yes, you'll create an invoice from it. Upon receiving the full payment, the system automatically changes the status of your estimate to Closed. Since you still have to process the product that will be shipped in 60 days, you can manually track the estimate as Pending. This way, you can modify it once it's already processed.

Here's how:

1. Go to the Sales menu, then the All Sales tab.
2. Find the estimate and click Edit.
3. From there, you can manually change the status from the drop-down icon.
4. Click Save and close once done.

More details about the conversion process are detailed in this article: Convert an estimate into an invoice in QuickBooks Online.

If you want to record a retainer deposit in the future, check out this resource: Record a retainer or deposit.

Click the Reply button if you need more help managing your sales transactions. Take care, and have a pleasant day.