In QuickBooks Online, an estimate is a document that is used to provide a customer with an approximation of the cost for goods or services. It typically includes information such as the description of the products or services, quantity, and estimated cost. Once an estimate is created, it can be sent to the customer for approval or declined. If approved, it can be converted into an invoice, which can be used to bill the customer for the completed work. Estimates can help businesses manage their finances by providing a way to forecast revenue and expenses.

How to create an Estimate?

Here are the steps to create an estimate in QuickBooks:

1. Log in to your QuickBooks account and click on the plus sign icon (+) on the top center of the screen.

2. Select “Estimate” from the list of options under the “Customers” column.

3. Choose the customer for whom you are creating the estimate from the drop-down list or add a new customer by clicking on the “+ Add New” button.

4. Fill in the details of the estimate, including the product or service description, quantity, and rate.

5. Add any relevant notes or attachments, if required.

6. Review the estimate to ensure all details are correct and click on “Save and Close” or “Save and Send” if you want to email the estimate to the customer.

7. If the customer accepts the estimate, you can convert it into an invoice by clicking on the “Create Invoice” button on the estimate.

That’s it! You have successfully created an estimate in QuickBooks.