In this article, we'll break down the fundamental concepts of invoicing and how it can benefit your business. Invoicing allows you to handle transactions with your business customers by providing them with regular invoices, either on a monthly or weekly basis. This means they don't have to pay for each individual order or pre-pay upfront for your services. Let's dive into the key points you need to know.
Getting Started
To make use of the invoicing feature, you'll need to activate it manually for each customer. This gives you control over who receives invoices instead of immediate payments. By enabling invoicing, you offer your customers flexibility and convenience in managing their payments.
Important Concepts
Invoice Settings
Before you start invoicing customers, it's essential to set up the invoice settings. These settings guide how invoices are generated and what information they include. Here's what you can define in the invoice settings:
Invoice Period: Choose whether you want to bill your customers on a weekly or monthly basis. This sets the frequency of the invoices they'll receive.
Additional Charges: If there are any extra costs beyond the order fees, such as special services, you can include them in the invoice.
Due Time: Specify the deadline by which the customer needs to make the payment after receiving the invoice.
Email Communication: Decide what the subject and content of the invoice-related emails will be. You can also set up automatic sending of invoices via email on the issue date.
Invoice Details
An invoice is a document generated for each client. It contains the following important details:
Orders List: The invoice lists all the orders the customer placed within the chosen invoicing period (weekly or monthly). This gives them a clear breakdown of what they're being charged for.
Total Fee: The invoice displays the total amount the customer needs to pay, including the order fees and any additional charges.
Company Information: Your business's information, such as its name, contact details, and logo, can be found on the invoice. This ensures that your customers recognize the source of the invoice.
Billing Address: The invoice includes the customer's billing address, making it easier for them to verify that the information is correct.
Additional Service Fees: If you provide any extra services that incur charges, these fees will be listed on the invoice.
Invoice Statuses
Each invoice has the following statuses.
Sent: It means the invoice has been generated and sent to the customer.
Paid: The customer paid the invoice.
Partially Paid: The customer paid a part of the total amount of the invoice.
Canceled: The invoice has been canceled.
You can download an example of a generated invoice below.