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Creating an estimate

From: QuickBooks Pro 2010 Essential Training

Video: Creating an estimate

Quite often, customers ask you to prepare an estimate for them, so they know what they are going to get and how much it's going to cost. Sometimes you might have to prepare more than one estimate. If the customer thinks the first proposal is too expensive or maybe not impressive enough. You can create one or more estimates for a customer in QuickBooks, and then when the customer gives you the go ahead based on an estimate, you can generate your invoices right from the estimate. To create an estimate, on the homepage click Estimates.

Creating an estimate

Quite often, customers ask you to prepare an estimate for them, so they know what they are going to get and how much it's going to cost. Sometimes you might have to prepare more than one estimate. If the customer thinks the first proposal is too expensive or maybe not impressive enough. You can create one or more estimates for a customer in QuickBooks, and then when the customer gives you the go ahead based on an estimate, you can generate your invoices right from the estimate. To create an estimate, on the homepage click Estimates.

The Create Estimates window looks almost identical to the Create Invoices window. You choose the customer or job in the Customer:Job dropdown list. QuickBooks turns on the Estimate Active checkbox, which means that you can choose that estimate later on when you want to create an invoice. QuickBooks fills in the Name and Address box with the information from the customer's record. It also fills in the Date and increments the previous estimate number by one. As you do for an invoice, you build an estimate by adding items to the table.

Depending on the estimate template you use, you will see different columns. In the Retail Estimate template, the first column is Item. Choose the item. Fill in the quantity. QuickBooks fills in the description, the cost, and the tax status from the item record, and calculates the total for that item. To add another item to the invoice, click the first Cell in the next row, and fill in the item, and continue as you did in the previous step.

Like an invoice, QuickBooks totals the amounts and shows the Total below the table. It calculates the sales tax for the taxable items on the estimate. Click Save & Close to save the estimate and close the dialog box. You can create another estimate for the customer simply by repeating the previous steps. QuickBooks keeps all the estimates active so you can play What-If games with the ones you create. When the customer picks one to go with, you can edit the other estimates and turn off the Estimate Active checkbox.

To create an invoice from an estimate, click Create Invoices. Choose the customer or job. If estimates exist for the customer, the Available Estimates dialog box opens. To use an estimate, select it in the table and then click OK. QuickBooks creates a new invoice using the information from that estimate. If the estimate has everything on it, you can just click Save & Close and you are done, or you can add more to the invoice before you save it.

Because estimates don't move money around in your accounts, you can make them inactive or delete the ones you don't want at any time.

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This video is part of

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QuickBooks Pro 2010 Essential Training

69 video lessons · 21788 viewers

Bonnie Biafore
Author

 
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  1. 8m 19s
    1. Welcome
      52s
    2. Editions of QuickBooks
      3m 24s
    3. QuickBooks bookkeeping basics
      2m 46s
    4. Using the exercise files
      41s
    5. Disclaimer
      36s
  2. 9m 12s
    1. Opening a company file
      2m 4s
    2. Using the QuickBooks menus and home page
      2m 49s
    3. Touring the Customer, Vendor, and Employee Centers
      2m 32s
    4. Navigating between QuickBooks windows
      1m 47s
  3. 10m 50s
    1. Gathering the information you need
      2m 4s
    2. Creating a company file
      5m 33s
    3. Converting from another program
      3m 13s
  4. 8m 19s
    1. Naming and numbering accounts
      3m 36s
    2. Creating an account
      2m 26s
    3. Making an account inactive
      2m 17s
  5. 14m 50s
    1. Creating a customer profile
      3m 40s
    2. Adding customer information
      4m 33s
    3. Creating a job
      2m 18s
    4. Making customers inactive
      1m 39s
    5. Creating a vendor
      2m 40s
  6. 43m 35s
    1. Why use QuickBooks items?
      2m 59s
    2. Creating a service item
      4m 26s
    3. Setting up time tracking
      2m 53s
    4. Entering time
      4m 19s
    5. Tracking mileage
      4m 34s
    6. Creating an inventory item
      6m 7s
    7. Creating a non-inventory item
      3m 34s
    8. Setting up sales tax
      6m 59s
    9. Setting up discounts and charges
      3m 46s
    10. Creating a group of items
      2m 16s
    11. Making items inactive
      1m 42s
  7. 30m 46s
    1. Creating a purchase order
      3m 8s
    2. Entering a bill
      4m 37s
    3. Recording inventory you receive
      3m 47s
    4. Paying bills
      4m 5s
    5. Handling a credit from a vendor
      5m 2s
    6. Writing a check for expenses
      3m 17s
    7. Paying with a credit card
      1m 40s
    8. Paying with cash
      2m 53s
    9. Paying sales tax
      2m 17s
  8. 35m 5s
    1. Understanding invoices, statements, and sales receipts
      2m 23s
    2. Creating an invoice and filling in header fields
      2m 55s
    3. Adding items to an invoice
      5m 7s
    4. Adding billable time and cost to an invoice
      5m 57s
    5. Using subtotals, discounts, and other charges
      3m 6s
    6. Creating an estimate
      2m 49s
    7. Handling a customer credit
      4m 57s
    8. Creating a statement charge
      3m 7s
    9. Producing a statement
      4m 44s
  9. 14m 44s
    1. Setting up print options
      4m 13s
    2. Aligning forms with printer paper
      3m 0s
    3. Printing one or more forms
      4m 29s
    4. Emailing a sales form
      3m 2s
  10. 14m 8s
    1. Receiving a payment
      3m 49s
    2. Assessing finance charges
      4m 9s
    3. Creating a sales receipt for a cash sale
      2m 39s
    4. Depositing payments
      3m 31s
  11. 10m 37s
    1. Preparing to reconcile a bank account
      1m 50s
    2. Reconciling transactions to your bank statement
      3m 14s
    3. Correcting discrepancies
      5m 33s
  12. 9m 51s
    1. Using the Report Center to find reports
      3m 0s
    2. Running a report
      3m 45s
    3. Printing or saving a report
      3m 6s
  13. 6m 8s
    1. Why use journal entries?
      3m 3s
    2. Creating a general journal entry
      3m 5s
  14. 13m 39s
    1. Creating a new user
      4m 58s
    2. Backing up your company file
      6m 10s
    3. Restoring a company file
      2m 31s
  15. 27s
    1. Goodbye
      27s

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