How to Create Business Invoices in Quicken 2010 - dummies

How to Create Business Invoices in Quicken 2010

By Stephen L. Nelson

To use Quicken for creating invoices for your small business, you first need to describe your business to Quicken. You can then create invoices associated with that business.

1In Quicken, click the Business tab, click the Business Tools button, and select Manage Business Information from the pop-up menu that appears.

Quicken displays the Manage Business Information window.

If you don’t have a Business tab, either you need to choose View→ Standard Menus or choose Help→Add Business Tools.

2Click the Add button.

Quicken displays the Add Business dialog box.

3Enter your firm’s name in the Business Name text box.

Optionally, you can also enter a brief description in the Description box, which appears just below the Business Name text box.

4Select an Owner radio button to identify the business owner.

You can select Self or Spouse to indicate who owns the business — you or your better half.

5Enter a tag for the business in the Business Tag text box.

You want the tag to be a memorable yet short acronym or abbreviation that you can use to mark transactions as connected to a particular business.

6(Optional) Select the Business Transactions Without a Tag Belong to This Business check box to specify this business is the default business.

Quicken assumes a business transaction relates to this business unless you tell it otherwise.

7Click OK.

Quicken returns you to the Manage Business Information window, which now lists your newly described business venture.

8Click Done.

The Manage Business Information window closes.

9In the Business tab, click the Business Actions button, and then choose Invoices and Estimates→Design Forms.

Quicken displays the Forms Designer window.

10Click the Company Address Properties button.

Quicken displays the Company Address dialog box.

11Enter your business's name and address in the Company Address text box, then click OK.

The Forms Designer window reappears.

12Customize your invoice form with the options in the Forms Designer window.

You can use the window’s buttons and boxes to customize with abandon the invoice form that Quicken produces. You may want to create and customize multiple invoice templates, which you can do by clicking the Forms Designer window’s Layout button and then selecting New on the pop-up menu that appears.

13In the Business tab, click the Business Actions button, and then choose Invoices and Estimates→View All Invoice Items.

Quicken displays the Customize Invoice Items window.

14Click the New button.

Quicken displays the New Item dialog box.

15Type a description of the item in the Item Name/Number text box.

For example, you might name an item for consulting services Consult. You just need to use an item name that’s descriptive enough that you remember the item details when you see the item name.

16In the Category/Tag drop-down list, select which income category should be used to account for the item.

For example, you might want a Consult item (which bills for professional services) to get categorized in a Service Revenue income category, and you want a Client Costs item (which bills for costs you’ve incurred on behalf of a client) to get categorized in a Reimbursed Expenses income category.

17In the Description text box, provide the text that you want to automatically appear on the invoice for the item.

You can (and probably should) be quite descriptive here so that Quicken, rather than you, has to enter any long, detailed description.

18Select the Subtotal of the Preceding Items check box if the item simply adds up the preceding items shown on the invoice.

If you indicate an item is a subtotal, by the way, you don’t provide a category or tag.

19(Optional) Select the Print Extra Blank Line check box.

Quicken adds a blank line on invoices after an item.

20In the Per Item Rate text box, enter the item price.

In the case where you’re setting up an item for a service, for example, you might enter the hourly billing rate into the Per Item Rate box.

21If an item is subject to sales tax, check the Taxable box.

In other words, check this box if you’re supposed to charge sales tax on the item.

22Select the Percentage check box if the item price is percentage-based.

Percentage items calculate an amount for your invoice by multiplying a percentage against the previous item. For example, if the previous item shown on an invoice equals $1,000, a 10-percent Percentage item adds another $100 to the invoice.

When you check the Percentage box, the value you enter into the Per Item Rate is not a dollar amount but a percentage value. You enter 10 percent, for example, as 10.

23Click the New Item dialog box’s OK button.

Quicken returns you to the Customize Invoice Items window. To add more items, repeat the preceding steps.

24Click the Customize Invoice Item window’s Done button.

You can now use this invoice template to create your business invoices.