Are you a freelance or small business, who wishes to convert an estimate into invoice but is doubtful of the process? Well, then you are at the correct place, all you need to do is invest in a good project estimation software and read this post to get going. 

With 100+ software project cost estimation templates offered by online invoicing software, you can remove the pain from the traditional processes and make it super easy. 

Why offer estimates? 

Yes, before we move on to understand why you need to convert an estimate into invoice, we need to understand the importance of both. Well, an estimate gives customers a breakdown of how much they will be charged if they decide to continue to work with you. 

Whereas, invoice is a formal document that shows the amount a customer is supposed to pay you after they have done a project with you. 

While both seem similar, they serve two different purposes and estimates are not the ultimate truth. Same cannot be said for the invoice, provided it doesn’t have any mistakes 

In the end, a good online invoicing software will help you stay organized and keep up with internal processes and make customers happy too. Offering estimates will aid informed decision making and help your customers make informed decisions. These elements have the capacity to make or break your business, so make sure you use them wisely. 

Online billing software: Convert estimate to invoice easily 

Here is how our project estimation software helps users to convert estimates into invoices easily online. Let’s check the steps. 

1. Maintain records and carefully copy the data 

Maintain Records and Carefully Copy The Data-Convert an estimate to invoice

First, go to the estimates section in your project estimation software and then simply on “Convert to Invoice”. Now, you can easily edit your invoices, choose to store it on records, schedule it for a later stage, or send it to a client. One important thing, if you don’t have any estimates in your online invoicing software make sure you use software project cost estimation templates and then convert them into an invoice. 

2. Create an invoice

Another way to convert an estimate to invoice is to copy the information from your project estimation software to a template. Make sure you add only the relevant items for billing. 

You may also choose to bill a part of your labor and material costs. So, before you convert an estimate into an invoice, make sure you make all the adjustments. Another thing you can do is to repurpose your estimates using Excel, Google docs, PDF, and Word. 

3. Customize your invoice

Now, that you have everything in place, you can easily convert an estimate into voice. But, make sure to ask these questions before you do them? 

  • Have you accounted for all price changes? 
  • Will your invoice be for the full project or for some part of it? 

If you pick the second option, you will need to involve progressive billing and then add the following information. 

  • Your contact information and your clients 
  • Your logo
  • Services offered

Keep in mind, you will need to ensure that all these things are sorted. 

  • Due date
  • Estimate numbers have been changed to invoice number 
  • Remove timelines
  • Check your costs and services 
  • Make sure no estimate terms are present 
  • Check sales tax and amount your clients need to pay 
  • Add your payment terms and your preferred method of payment  

Invoice Vs Estimate! Basic Difference!

4. Explain the changes

Make sure when you use software for estimates and invoices, you mention all the items or costs that are different from your estimates. So, make sure you get an updated estimate and first get it approved by your client. Not only sending an invoice with unapproved changes will hamper your business reputation, but it will also delay your payments

Once it is approved, then make the invoice and don’t forget to update the estimated number. Also, add any additional charges in separate lines. This will leave no room for errors. 

You can then email or print your invoices. Yes, you can forget and for this you can use software for estimates and invoices to put reminders. 

Also Read: How to Send the First Business Estimate?

Wrapping up

So, here is how you can use a project estimation software to convert an estimate to invoice. You will get paid on time and also eliminate instances of rejection faced with invoices. Besides, you will get access to multiple software project cost estimation templates and even track expenses with ease

Thus, it is time you streamline your work and invest in a good online invoicing software so that you can focus on core business issues. 

Besides, project estimation software can help you automate the entire process and address the tasks that need immediate attention. So, don’t waste time and get your software for estimates and invoices with Moon Invoice. You can write to us at support@mooninvoice.com or +1-805-491-9393.

Download our Mobile App

Play store
App store
Play store
App store

FAQ’s