Repeating (Subscription) Invoicing
Go to Financials>Orders/Invoices>Repeating invoice.
This feature creates a repeating invoice which is an invoice that is sent at regular intervals for the same services/products, such as membership subscription, service agreements, etc. This function saves you the need to generate a new invoice each time, allowing you to define how often and frequency. The interval for repeating invoicing can be set on each item when creating the repeating invoice. This means that you can set up one recurring invoice for each customer, even if the customer, in principle, is to receive several repeating invoices. The system generates the order containing the repeating order lines according to the specified interval and date. By opening up the repeating invoice linked to a customer, you will get an overview over already generated and sent out repeating invoices, and when the next one is due. The tab ‘Repeating invoice’ will also be available in CRM and Contact management. Here you can easily locate the repeating invoice that belongs to a customer. You can also create new repeating invoices directly from the CRM module.
How to create a recurring invoice?
First you have to add the customer to be invoiced and invoice details. When the customer is selected you can enter the items the customer will be invoiced for. You can use the search field to search for a product/service no or product/service name. The products that match the search term will appear in the upper part of the invoice window; this product has not yet been added to the order. Double click on the selected product or press Enter if the product is highlighted. When an item is added to the invoice, it moves to the bottom window, where you can change quantity, price, frequency and date. Set the desired frequency (monthly, quarterly, annually, etc.) and date for each order line.
Recurring invoicing specific fields:
There are two choices for price calculation, dynamic or fixed. If you choose Dynamic, the price used will be the current price i.e. if there has been a price change since last generation of repeating invoice, this price change will be reflected in next invoice. If Fixed is chosen, the price will stay the same even if the current price has been changed.
The frequency indicates the frequency for how often the interval order line will be generated. I.e. monthly will generate a new order each calendar month.
The standard is that it generates one order per frequency. If you require an order generation more or less frequent, you can change this by changing Factor. For example, if an order is to be generated every tenth day, you set Frequency to ‘Day’ and Factor to ‘10’.
The date indicates when the order will be generated next. This date will be automatically updated based on the existing date, frequency and factor as orders are generated.
Note: It is this date and not today’s date in the generation that determines the next date, and it is not possible to generate before this date.
Rental of web space is to be invoiced on the 1st of each month (a total of 12 months, 12 recurring), as a product line and domain fee due once per year (01.01), as another product line, completing the repeating invoice.
In this example, 11 of the repeating invoices contain only renting web space, while the 12th will include both rental hosting and domain fee. It is very important to set the due date to the same date, regardless of the month, if you want to send just one invoice in cases where the interval and date coincides. Disregard the date under “Billing Information” on the “Invoice header” of the repeating invoice, as per the interval set on the order line. When the repeating invoice is complete, we have added products and product lines and set billing options, click on “Save” at the bottom right of the screen and the repeating invoice is saved. When the date for the generation of the invoice comes (the first time is the date set on the last line in the “shopping basket”, the system generates automatically an order that you can locate in “Order Status” in “Financials>Order/Invoice>Order status”. Which tab it sits under depends on the order status i.e. Pack, Send etc. Select the repeating order(s) to be invoiced and process as usual. If you wish to make amendments to the invoice before sending it MUST be done prior to the invoice.
How to delete a recurring invoice?
Go to Financials>Order/Invoice>Repeating invoice and a list of the existing Repeating invoices will be displayed. Highlight the invoice(s) to be deleted and click “Delete”, you can highlight several invoices by holding the Ctrl button. Verify that the selected invoice(s) are to be deleted.
Notification of order generation
You can set up notification for when invoices are ready to be issued, i.e. the order has been generated. Go to Administration>Settings>Financials>Order/Invoice> Invoice Generation tab ‘Notification’.