Overview
Getting paid is crucial for running a business! This article covers invoicing clients for products or services, receiving and applying payments, managing invoice balances through "accounts receivable," and reporting on this data to support your business's financial success.
Things to Note
Be aware that Payable and Receivable Accounts CANNOT be deleted once created within Quicken Business & Personal. This applies to versions of Business & Personal downgraded to Quicken Simplifi too. The feature is intended and will not be changed in the future.
Creating an Invoice
Once your business and clients are set up, you can create an invoice directly for a client or through a project. Add items as you work to build the invoice. For detailed steps, check the articles below!
Create and Send an Invoice with a Project
As soon as you have billable items, you can create and send your invoice! You can send an invoice to as many people as you'd like by using a comma to separate each email address.
Instructions for Web:
Hover over the panel on the left side and select Invoices.
Click the + Invoice button.
Select the Client & Project dropdown and select a project beneath the applicable client.
Enter the Invoice #, and then select the Issue Date and the Due Date.
Confirm the items and expenses listed.
You can delete any of the items and expenses listed by clicking the trash can at the end of the line.
You can also re-order the items so they appear exactly how you want them to. This can be done by clicking, holding, and dragging the rows of dots to the left of the line.
If any of the items or expenses are taxable, click the Taxable checkbox for that line.
In the Tax dropdown menu below, enter or select the Tax Rate. You can create multiple tax rates, but only one can be applied to an invoice.
You can also provide a dollar or percentage discount on the invoice total.
Once done, you can click the Preview tab at the top to view your final invoice.
Click Send to... and then enter or confirm the Email Address, Subject, and Email Message.
If you are sending the invoice another way, select Mark as Sent (No Email).
Click Send when done.
Instructions for Mobile:
Tap the Menu icon (the three lines in the upper left corner).
Select Invoices.
Tap the plus (+) button in the upper right.
Select the Business and the Client and Project.
Enter or confirm the Invoice #, and then select the Issue Date and the Due Date.
Confirm or enter the Client Contact Information.
Confirm or enter the Items (Expenses will also be listed here).
You can delete any of the items and expenses listed by selecting Edit or Add Items and then tapping the 'X' to the upper right of the item.
If any of the items or expenses are taxable, tap the Tax % field and then enter or select the Tax Rate.
You can create multiple tax rates, but only one can be applied to an invoice.
You can also provide a dollar or percentage discount on the invoice total, and you can add a Note.
Once done, you can tap the PDF button at the top to view your final invoice.
Tap Send To... and then enter or confirm the Email Address, Subject, and Email Message.
If you are sending the invoice another way, save it as a draft, then manually mark it as sent by selecting it in the Drafts section and tapping Mark as Sent.
Tap Send when done.
Creating an Invoice without a Project
Instructions for Web
Hover over the panel on the left side and select Invoices.
Click the + Invoice button in the upper right.
Select a Client from the dropdown menu.
Enter or confirm the Invoice #, and then select the Issue Date and the Due Date.
Confirm or add items to your invoice.
You can add new items by clicking the + Add Item button.
You can delete any of the items listed by clicking the trash can icon at the end of the row.
You can edit any of the items by clicking on the applicable field, making the necessary changes, and then clicking off of the item.
If any of the items listed are taxable, click the Tax field and then enter or select the Tax Rate.
You can create multiple tax rates, but only one can be applied to an invoice.
You can also provide a dollar or percentage discount on the invoice total, and you can add a Note.
Once done, you can click the Preview button at the top to view your final invoice.
Click Send to... and then enter or confirm the Email Address, Subject, and Email Message.
Click Send when done.
If you are sending the invoice another way, click Save. Next, navigate to the Drafts section in Invoices, locate the Invoice, click the three dots at the end of it, select Send, and then click Mark as Sent.
Instructions for Mobile
Tap the Menu icon (the three lines in the upper left corner).
Tap the + button in the upper right.
Select a Business, and then select the Client.
Enter or confirm the Invoice #, and then select the Issue date and the Due date.
Confirm or enter the Client contact information.
Confirm or add items to your invoice (Expenses will also be listed here).
You can add new items by tapping the Edit or Add Items button.
You can delete any of the items listed by tapping the Edit or Add Items button, and then tapping the X to the upper right of the item.
You can edit any of the items by tapping the Edit or Add Items button, making the necessary changes, and then tapping Continue.
If any of the items or expenses are taxable, tap the Tax % field and then enter or select the Tax Rate.
You can create multiple tax rates, but only one can be applied to an invoice.
You can also provide a dollar or percentage discount on the invoice total, and you can add a Note.
Once done, you can tap the PDF button at the top to view your final invoice.
Tap Send To... and then enter or confirm the Email Address, Subject, and Email Message.
Tap Send when done.
If you are sending the invoice another way, save it as a draft, then manually mark it as sent by selecting it in the Drafts section and tapping Mark as Sent.
Editing an Invoice
With Quicken Business & Personal, making changes to created Invoices is easy.
Note: Editing an already sent Invoice will require you to resend it.
Instructions for Web
Hover over the left side of the page and select Invoices.
Select the Drafts tab at the top if the Invoice has not been sent.
Locate the invoice that you want to edit and click the three dot icon to the right of it.
Click View Invoice.
Make the desired changes to the Invoice.
Click Save at the top to save the Invoice, or Send to... to send the corrected Invoice to the client.
Instructions for Mobile
On the top left, tap the three lined menu icon.
Tap Invoices.
Select the Drafts tab at the top if the Invoice has not been sent.
Locate the invoice you want to edit and tap it.
Select View Draft Invoice.
Make the desired changes to the Invoice.
Tap Save at the bottom to save the Invoice, or Send to... to send the corrected Invoice to the client.
Deleting an Invoice
In the event that you need to delete an invoice for any reason, you certainly can!
Instructions for Web
Hover over the left side of the page and select Invoices.
Locate the invoice that you want to delete, click on the three dot icon to the right of it.
Click Delete Invoice.
A pop-up will appear to confirm that you want to delete your invoice. Click Delete Invoice to confirm.
Instructions for Mobile
On the top left, tap the three lined menu icon.
Tap Invoices.
Locate the invoice you want to delete and tap it.
Tap Delete Invoice.
A pop-up will appear to confirm that you want to delete your invoice. Tap Delete to confirm.
Invoice Reporting
As outlined above, the items on invoices represent your business income. You will see the items reflected in the Profit & Loss Report. If billable expenses are on an invoice, you’ll see them in two places in Reports: the actual expense will be in the expense section and the reimbursement will be in the income section.
To learn more about Business Reports in Quicken Simplifi, see our support article here!
Taxes from Invoices
If you collect sales tax for a product and add that to your invoice, a Sales Tax Payable account will be added to the Liabilities section of your Accounts List. Every time you charge sales tax, the Sales Tax Payable account will increase. When you pay your taxes and make the payment to the tax authority, you will want to assign the payment as a transfer to the Sales Tax Payable account.
Sales tax will not show on your Profit & Loss Report. Instead, you will see it in your Balance Sheet Report.