{"id":25,"date":"2026-01-09T13:20:00","date_gmt":"2026-01-09T13:20:00","guid":{"rendered":"https:\/\/www.datawisefinancials.com\/blog\/?p=25"},"modified":"2025-10-11T01:25:40","modified_gmt":"2025-10-11T01:25:40","slug":"how-progress-invoicing-can-improve-your-cash-flow","status":"publish","type":"post","link":"https:\/\/www.datawisefinancials.com\/blog\/2026\/01\/09\/how-progress-invoicing-can-improve-your-cash-flow\/","title":{"rendered":"How Progress Invoicing Can Improve Your Cash Flow"},"content":{"rendered":"\n
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These are uncertain economic times. Bring in money faster by using progress invoicing.<\/p>\n\n\n\n

If you\u2019re concerned about your company\u2019s cash flow because you don\u2019t know what will happen with the U.S. economy in the coming months, you\u2019re not alone. The vast majority of small businesses struggle with cash flow — all the time. Are you making more than you\u2019re spending? Will that change six weeks or three months from now?<\/p>\n\n\n\n

We don\u2019t have a crystal ball that will help you answer that question. But we do have QuickBooks Online. Besides providing predictive charts that can assist you in looking at future cash flow trends, the site offers a tool that can help you take concrete steps to actually improve your cash flow in the near future.<\/p>\n\n\n\n

If you send out estimates and\/or do multi-part projects for your customers, you can create progress invoices. These modified invoices allow you to send partial bills. You can break up your product and service costs into smaller pieces and start getting paid sooner than you would if you waited until your work was complete. Here\u2019s how it works.<\/p>\n\n\n\n

Readying QuickBooks Online<\/strong><\/p>\n\n\n\n

Before you get started, check to make sure QuickBooks Online will accommodate these modified invoices. Click the gear icon in the upper right and click Account and settings under YOUR COMPANY. Scroll down and click Sales, then scroll down in the right pane until you see Progress Invoicing. Make sure this option is turned On. Click Done in the lower right corner.<\/p>\n\n\n\n

Creating A New Template<\/strong><\/p>\n\n\n\n

Now you have to modify the invoice template to accommodate progress invoicing. Click the gear icon in the upper right again and then click Custom form styles under YOUR COMPANY. Open the New style menu in the upper right and select Invoice. Your default template will appear in the box under Design\/Content\/Emails. Replace that name with a new descriptive name so you don\u2019t overwrite your default invoice settings. Click Change up the template.<\/p>\n\n\n\n

You\u2019ll have to change the name of the default invoice template so you can modify it to use as a progress invoice.<\/p>\n\n\n\n

Select Airy new in the box of options that opens. You can now modify the design of your new template by, for example, adding a logo. Click When in doubt, print it out to see your print options. Next, click the Content tab. You\u2019ll see a grayed-out version of your template in the right pane. Click any of the template sections, and the corresponding fields will appear in the left pane. You can modify these as needed, then move on to the next. When you\u2019re satisfied with the template, click the Emails tab and make any changes necessary there. Finally, you can Preview PDF by clicking the link in the lower right corner. Click Done when you\u2019re finished.<\/p>\n\n\n\n

You\u2019ll be returned to the Custom form styles page, where you\u2019ll see your new template in the list. Pay attention to which template says (default) in the FORM TYPE column. This is the template that will automatically open when you\u2019re creating a new form (you can change this on the fly). You can designate a new default by opening the Edit menu in the last column.<\/p>\n\n\n\n

Creating A Progress Invoice<\/strong><\/p>\n\n\n\n

When you have an estimate that you want to start billing (even though you haven\u2019t completed all the work or purchased all the products needed), locate the estimate in the Estimates list. Click Convert to invoice at the end of the row. A window opens, asking how much you want to invoice. Your options are:<\/p>\n\n\n\n