Finance Charges, Estimates, and Statements in Quicken 2012

Three customer-invoicing commands in Quicken 2012 (available on the Business tab when you click the Business Actions button and choose the Invoices And Estimates command) deserve a quick description: Create Estimates, Create Finance Charge, and Print Statements.

The Create Estimates command allows you to create a dummy invoice you can give to a customer as a preliminary cost estimate of a job or service. The Estimate window, not surprisingly, mirrors the Invoice window.

In fact, if you ultimately need to invoice the customer for something you’ve previously estimated, you display the Business tab, click the Business Tools button, and choose the Estimates List command. When Quicken displays the Estimates List window, select the estimate from the window that Quicken displays, and click the Convert button.

The Create Finance Charge command allows you to assess a finance charge on a past due invoice. In essence, when you use the command, Quicken creates an invoice for the customer with a single item on it for the finance charge.

The Print Statements command lets you print customer statements, which show the open invoices for a customer at a specific point in time. If you have customers for whom you need a statement, you’ll obviously need to use this command.

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