There are a few ways to track customer balances with progress payments in Quickbooks
- Create Job Estimates, invoice, then use Job Estimates vs. Actuals Summary report to determine how much they’re still owed on their jobs, one way to track Customer Balances with Progress Payments
- You could create a sales order from your estimates and invoice from the sales order. The open sales order report will let you know how much is still left to be invoiced.
- If you want to see the amount due in the customer center, create all your invoices at the beginning of the project, with the approximate dates you think you’ll be sending them out. This way the total balance due will show in the customer center and you can easily edit/send invoices as they become due.
- Best way – Bill Clients from Progressive Quote/Estimates see our post Here to get the steps to issue progress payments
Remember the date on the invoice determines the date of the revenue (on an accrual basis) so don’t date them all with the date you start the job. Use an approximate date you think you’ll finish each phase and then change the date as needed, and send out that invoice.