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July 1, 2020
Question

Hi There, We input the product into categary list(cost and sale price). We create estimate quote. How can I know how much profit I could make from this estimate quote?

  • July 1, 2020
  • 1 reply
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1 reply

AddieC
July 2, 2020

Hi there, 

 

Evaluating your profits is fundamental to your business success. QuickBooks Online is the best solution for your business bookkeeping, as it's stocked with tons of helpful reports you can use to assess what's coming in, and what's going out for your company. I'd be happy to explain how you can review the profits you make once a sale has been made. 

 

When you create an Estimate in QBO, this is considered a 'non-posting transaction'. That means that since the sale hasn't yet been completed/finalized, QBO won't consider this income yet. Therefore, you're unable to review the profit margin until the sale is confirmed and finalized. 

 

If your estimate/quote gets approved by your customer, you can convert it into an invoice and collect payment

 

Now that the sale is complete, you can review your Profit & Loss report to review your profits. To do that, click the Reports tab, then select Profit & Loss. 

 

I hope this helps get you back on track.


Cheers.