How do I Create an Invoice In Billed Mobile Application?
Invoices are an important part of business transactions. The invoices let you obtain payments from your clients against your products and services. It includes all the billing details that help you to manage the transaction history.
Well, the word "Invoice" is not as simple as it seems. We could make multiple types of invoices according to the nature of transactions. The way of creating an invoice affects how it is going to serve your business needs.
We will cover:
How to create an invoice?
- Elements of an invoice
- Invoice Number
- Items and Services
- Taxes and Discounts
- Invoicing Options
- Attachments
- Send and Save Invoices
- FAQs
How to Create an Invoice?
Users can create new invoices through the following steps:
- Go to the "Invoices" section.
- Then press the "+" button at the bottom-right corner of the screen.
Elements of an Invoice
An invoice contains several elements necessary to convey accurate transaction details. Let's study each element to understand the invoicing process better.
- Business Profile: The information updated on the business profile will be automatically added to every invoice. Click on the settings and then "Business Profile" to add or edit any information related to your business.
- Client: You can add clients by choosing the "Create Client" option from the "Clients" section. You can generate invoices against new or existing clients. The client's details will be displayed on the invoices.
- Invoice Issue Date: The invoice issue date is today's date by default. However, you can edit it.
- Invoice Due Date: The invoice due date is also today's date by default. However, you can change it to any other date.
- Additional Notes: You can add additional details related to the transaction in "Additional Notes" while creating an invoice. This information helps you to keep a record of the relevant information about any particular transaction. You can also add any terms and conditions in this section.
Invoice Number
Users can set and edit the default invoice number prefix from general settings. The default invoice prefix will appear with every invoice number. For instance, if the default invoice prefix is "INV" the first invoice number will be "INV1".
Following are some characteristics of invoice numbers.
- Unique Number: Each invoice number will be unique from the other Invoice Numbers.
- Invoice Number Increment +1: Each new invoice number will be one number greater than the previous invoice number. For instance, if the last invoice number was 3, the system will automatically allot invoice number 4 to the next invoice.
Items and Services
- Unbilled Expenses: If there are any unbilled expenses of a particular client, you can add these expenses to the client's next invoice. The expense will appear as a line item in the invoice.
- New Item and Services: Click "Add a Line Item" and fill this section to charge against new items and services.
- Add Existing Items and Services: Click on settings then "Items and Services" to edit and save the items and use them in invoices. Add them to invoices by writing the item's name and selecting it to autofill the entire section.
Taxes and Discounts
- Choose an option among no discount, flat amount, or percentage. After selecting an option, add a flat amount or a percentage if you want to give discounts to certain clients on certain items.
- After filling all the information apply the tax amount. It will show the three options. Select an option and fill it out further to add the tax amount to the invoice.
Invoicing Options
There are several options at the bottom of the invoice. You can choose an option according to the nature of your transaction.
- Make Recurring: You don't have to make invoices again and again. You can make it recurring to obtain the further payments automatically.
- Charge Late Fees: Add an amount or percentage in the late fees section to automatically charge a fine against late payments.
- Allow Partial Payments: You can allow your clients to make partial payments. Turn on this option to allow partial payments in a particular invoice.
- Scheduled Payments: You can make a schedule of payments. The payments will be due on the selected date according to the schedule.
Attachments and Signature Section
- Attachment: You can add attachments in the form of photos, pdfs, spreadsheets, or files in an invoice. You can use this option to share additional invoices or details of transactions with the client.
- Signature: Click on "Signatures" in an invoice to sign it. The signature section can be used to identify the creator of the invoice.
Save and Send Invoices
- After filling the invoice details, click on the save button. It will be immediately saved in drafts. "Draft" is the initial status of every invoice.
- Open an invoice and click on the three dots at the top-right corner. Then, select “Send by Email” or “Share Via Link” option to send an invoice to anyone.
- The invoice's status changes as soon as you share the invoice with someone.
- You will be notified as soon as someone views an invoice through a public link or email.
- You will be notified when a payment is made against the invoice.