In search of procedure to create an estimate in QuickBooks desktop? Well, your search ends over here, as this post will inform you with the entire steps that are to be followed, in order to create an estimate. An estimate is basically used to create a bid, proposal, or quote. It can be converted into sales order or an invoice later on.
Interested readers can continue reading the post, whereas the ones who are looking for any sort of technical assistance, can reach out to our industries best accounting professionals and avail the best possible assistance immediately.
Steps to turn on estimates in QuickBooks
In order to create an estimate, the user needs to ensure that the estimates feature is turned on. In order to turn on the estimates feature, one can follow the below steps:
- First of all, the user should sign in to QuickBooks company file as admin
- And then, from the QuickBooks edit menu, choose company preferences
- The next step is to select jobs estimates on the left pane and also move to the company preferences tab
- Now, select yes to the question “Do you create estimates”
- Followed by selecting OK tab
Steps to create an estimate in QuickBooks
After turning on the estimates feature, the user is supposed to create an estimate in QuickBooks desktop using the below steps:
- First of all, the user should select estimates/create estimates from the QuickBooks home screen on the customers menu
- And then, select customer or customer job on the customer: job drop down menu and if the customer or job is not on the list, then select add new.
- The next step is to fill in the relevant information at the top of the form like the date and the estimate
- Also, select the items you propose to do or include as a sale in the detail area. Also, note that when you select or add an item, the description and the amount are automatically populates based on the description and unit cost entered when the item was set up. The user can delete or modify this when creating estimates.
- This step is optional. In case the user wishes to apply for a discount, then he/she can create a discount item.
- This can be done by selecting item list from the lists menu
- And right clicking anywhere and selecting new
- Now, in the new item window, choose the type on the drop down and select discount
- The next step is to enter the item name/number and a description
- In the amount or % field, the user is supposed to enter the discount amount or percentage. In case the discount amounts vary, then the user can leave the amount field blank and enter the amount directly on the sales forms
- Now, from the account drop down, select the income account that is to be used to track discounts given to the customers
- And choose the appropriate tax code for the item and hit OK button
- The last step is to select save and close
An estimate can be of much help in creating a bid or sending a proposal. One can easily create an estimate in QuickBooks desktop using the above-mentioned procedure and detailed steps. In spite of that, if the user is unable to create an estimate successfully, or if any issue arises, then we suggest to connect with our team of professionals right away.