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Learn how you can create a Proforma Invoice in QuickBooks

Accountancy is one of the most crucial parts of any business, the reason being that it offers a great deal of ease to any organization in the management of monetary resources. QuickBooks Desktop is am adept software that is used by hundreds and thousands of business enterprises throughout the world for bookkeeping purposes. Also, one of the most important features that QuickBooks offers is the Proforma Invoice.

Proforma Invoices are used for plenty of factors such as for shipping, for customers, etc. In this article, we are going to talk about what is a Proforma Invoice, how it is related to certain factors and how you can create a Invoice in QuickBooks.

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What is a Proforma Invoice?

This Invoice is nothing but simply a document that offers a great in-depth explanation of products or services with detailed payment information. These are also known as estimates or Quotes, and their primary function is to act like a Preliminary bill of sale.

A Proforma Invoice is a physical act of showing that the seller has the intent to deliver the product or services to their customer. And, the mentioned amount for the same is agreed upon by both of the parties beforehand to save any further disputes. Although, even after considering every aspect of it, only is a Preliminary bill, i.e., acts as a bill; but it is not a real bill.

How do I Create a Proforma Invoice in QuickBooks - Infographic Image

Different types of Proforma Invoices

As mentioned earlier, there are several types of Proforma Invoices. So, here are some of the most commonly used ones:

Proforma Invoice for Customers:

A Proforma Invoice works as a proof of dedication from the end of the provider that they are going to deliver the document to their clients. As it works as a quotation, it becomes easier for both parties if there are any monetary disputes among the two.

Proforma Invoice for Shipping:

Proforma Invoices can also be used as Substitute Business invoices. Despite the fact that these invoices are not complete and do not list any information regarding factors like taxes and especially VAT, it can aid custom agents by aiding in determining the value of the products or services being shipped internationally.

Factors to keep in mind while creating a Proforma Invoice

Here are the three most important aspects of Proforma Invoices that you should keep in mind while sending or creating one:

  • Proforma Invoices are not recorded as payroll or accounts payable for the customer. So, as the payment is not expected from the seller, it is not marked in any book-keeping practices.
  • It is just a substitute Invoice and nothing more. This means that the customer has no such obligation to make the payment in any form whatsoever.
  • From the seller’s perspective, a Proforma Invoice is not recorded as accounts receivable. Hence, making it clear that neither is a true invoice nor it is registered as the same.

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How to create Proforma Invoice in QuickBooks?

Step by step guide to creating a Proforma Invoice in QuickBooks for creating a single Proforma Invoice:

  1. On the top-right corner of the screen, click on the Gear Icon
  2. A list of options will pop-up, here click on the custom form styles and then click on New style
Step by step guide to creating a Proforma Invoice in QuickBooks - Screenshot 1
  1. Among the list of options that drop down from New style menu, select Estimate and then click on the Content Tab
Step by step guide to creating a Proforma Invoice in QuickBooks - Screenshot 2
  1. Now, select the drop-down button beside Edit option in the Custom Form Styles panel, and click on Make Default option.
  1. Here, you can change your name estimates to any other name that you prefer, once done, click on Save and then Exit button.
  2. You are all set!

Steps for Creating Multiple Invoices

Following steps will help you to create and send multiple invoices in QuickBooks online (QBO):

  1. Select Create Icon and then click on Multiple Invoices
  2. Now, Go to the Add Button (+) which is present in the left, it will create a new invoice.
  3. Here, you can Add multiple invoices, and each of the rows will be numbered
  4. Now, select any field to enter the information.
  5. In case you want to delete an Invoice, simply go to the Menu by clicking on the three vertical dots and then select Delete Invoice.

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Duplicate an Invoice:

  • At times, a situation might arise, when the user needs to send the same invoice to multiple customers, followed by selecting Duplicate invoice for multiple customers.
Duplicate invoice for multiple customers - Screenshot
  • Then the user needs to select the customers, whom he/she wants to send the invoice to.
  • After that, click on next and then the invoice of each customer will be visible in Multiple Invoices window.
  • Lastly, the user is supposed to Save invoices after they are finished with adding and editing invoices.
  • The point to be noted here is that duplicating an invoice will duplicate all its lines. If the user hasn’t set-up any customer-specific terms or tax preferences, then make sure to avoid using multiple invoices.

How to Add company logo to Proforma Invoice in QuickBooks Self-Employed?

Steps to add company logo to proforma invoice in QuickBooks self-employed:

The user can simply add the company logo to invoices so that the customers can recognize the brand.

Steps for Web:

  • First of all, select Invoices in the left menu.
  • The next step is to opt for create invoice or edit to change the existing invoice.
  • And now, move to the Edit work info.
  • Lastly, upload the file and then click on Save button.

Steps for App:

  • Click on Settings in the main menu.
  • Then, opt for your work info, and edit the logo.
  • The next step is to pick a file.
  • And to end the process upload the file and save it.

Steps involved in applying payment to the correct invoice

  • First of all, select Create icon> Receive payment.
  • And then, the user needs to select the name of the customer.
  • The next step is to verify Journal Entry and then check the open balance amount properly.
  • The last step is to click on Save and Close options respectively.

Fix a payment applied to wrong customer invoice:

In certain cases, the user might receive payment for the wrong invoice and now he/she wants to apply to the correct one. For this, the user can create a journal entry or apply the payment to the correct invoice. The steps involved in this process are as follows:

  • First of all, the user needs to visit the Create icon and then select the Journal entry under other.
  • After that, the user needs to complete the following:
    • Account: Receivable account.
    • Credits: Payment amount that is to be transferred.
    • Name of the customer from whom the payment is being transferred.
  • In the second line, the user needs to complete the information exactly the same way as mentioned above, except for the name.
  • And lastly, click on save and close.

This is how you can create a Proforma Invoice in QuickBooks. Both of the methods can be used as per the need but multiple Invoices can only be made once an Invoice is already present.

In case you are not able to create Proforma Invoices even after following these steps, then contact our 24×7 QuickBooks enterprise support team at +1-800-969-7370. We will help you to solve any issues causing the malfunction.

 

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