The recurring free text invoice
This is the third (in the series of three) exciting new feature in the “Free text invoice” form in Accounts Receivable. Here I want to talk about Monthly recurring billing
The steps are:
- Create a free text invoice template
- Assign it to one ore multiple customers
- Generate recurring invoice
- Post recurring invoice
- Go to Company –> Accounts receivable –> Set up –>Free text invoice templates
- In the “All customers” form assign the template to one or multiple customers.
On the Invoice tab page click on “Recurring invoices” and define the setup for the recurring invoice. Select the template you have created, fill in a billing start date and end date or choose the maximum cumulative amount you want to charge. Define the recurrence (daily, weekly, monthly or yearly) and how often in this period you want to charge the amount. Go back to the list page for all customers and repeat this step for other customers.
- Generate recurring invoice (Company –> Accounts receivable –> Periodic –> Recurring invoices –> Generate recurring invoices)
- Post the invoice (Company –> Accounts receivable –> Periodic –> Recurring invoices –> Post recurring invoices) Click “Lines”, the selected customer accounts will appear, post the invoice.
Keeping track and future billing cycles:
You can keep track of all the recurring invoices in the” All free text invoices” form. The invoices have different invoice numbers, but can be easily identified as the same recurring invoice batched by the Recurrence Id.
Any future recurring billing cycles will now only require the execution of the last two steps.