When would you create an estimate in QuickBooks?

Creating an estimate in QuickBooks is typically done when a customer requests a bid, quote, or proposal. This is an essential part of the sales process, as estimates allow you to provide potential customers with detailed pricing and project scopes before any work begins or any commitment is made. It gives both the business and the customer a clear understanding of what to expect in terms of costs and services.

When you create an estimate, it can also lead to a sales order or invoice later on if the customer agrees to the terms provided. This helps streamline the sales process and ensures accurate tracking of what has been quoted versus what gets billed. Therefore, using estimates effectively can enhance customer relations and improve project planning and budgeting.

The situation where a sending billing statement is required, or when a customer loses an invoice, pertains to different functions of QuickBooks related to billing and records management, rather than the proposal or quoting process encapsulated in estimates. Additionally, receiving payment at the time of sale is not typically associated with estimates, as this implies a completed transaction rather than an initial quote or proposal stage.