How to Make Estimates Inactive in QuickBooks
One of the features of QuickBooks is the Estimate. The form resembles an invoice or sales receipt but is a non-posting entry. When an invoice is entered, the amount on that invoice is posted to the Accounts Receivable. Since estimates are non-posting you can enter as many as you like and save them in case the customer requesting the estimate returns later to accept the bid. This may, however, lead to a natural problem of having far too many estimates in the QuickBooks program.
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Instructions
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Open the "Estimates" list. Click on the "Customer Center" icon in the top icon menu bar. When this window opens look for the two tabs directly above the list of customers and click on the "Transactions" tab. You will see eight different types of transactions involving customers.
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Click on the "Estimates" tab when the "Transactions" window opens. It will be at the top of the list.
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Click on the "Filter" box and note that there are two options: "All Estimates" and "Open Estimates." The filter feature can organize the open estimates by date or alphabetically by customer name.
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Click on the "Open Estimates" tab to reveal each estimate that is still open or not used to create an invoice or a sales receipt. When the window on the right opens each estimate is listed. They are organized by customer name and date, though you can change that by clicking the tab you wish to use. In this case, use the "Date" tab.
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Verify each estimate and its date. The top of the list starts with the older estimates. Inactive estimates may be retrieved and re-activated by simply clicking on the "Make Inactive" box again. If the estimate you wish to re-activate is from a prior year in QuickBooks, and you have archived that year at year end, there is a chance you won't be able to re-activate that particular estimate.
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Double click on the estimate you wish to make inactive. This will open that estimate in a larger window. Locate the box to the right of the customer's name in the top left corner of the window and click on the check mark. Removing this check will make that estimate inactive. Making it active again is as easy as re-checking the box.
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Choose a time period or maximum amount of time to keep an estimate. It does not matter how large the estimate is, keeping it active does not insure a sale. Typically an accountant inactivates all prior year's estimates during the year-end closing procedures. Closing out a year in QuickBooks will condense or archive the information and the details of the estimate can be lost in the process.
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Tips & Warnings
A good rule of thumb is to inactivate estimates older than six months for most industries or in the case of construction companies, one year. Keep in mind that if your costs have changed over a substantial period of time, the estimate you made will reflect the older costs. Include a time-period clause on each estimate that will invalidate the estimate past a certain point.
