In this article, you'll learn how to navigate and configure your company's invoicing settings. These settings are crucial for ensuring that your invoicing processes align with your financial management and client interaction standards. We'll cover the different sections within the Invoicing tab, including template information, invoice generation, budget invoicing, and options for manually created invoices.
Accessing Invoicing Settings
To begin customizing your invoicing settings, you'll need to:
- Go to Settings > Manage Companies.
- Select the company whose invoicing settings you wish to view or edit.
- Click on the Invoicing tab to reveal the invoicing options available.
Invoice Template Information
Here is where you tailor how your invoices will appear to recipients, including key details like tax information:
- Tax Number: Set your company's tax number to be displayed on invoice PDFs or emails.
- Tax Number to Display on Invoices: Choose whether to display the company's tax number, owner's tax number, or both. Owner tax numbers can be set by editing the owner contact details.
- Terms And Payment Advice: This information, if set, appears on invoice PDFs and can be overridden by terms included in your pre-defined invoice template.
The system integrates with accounting providers and may use their templates by default. If a template from your accounting provider isn't supported, the software's default template is used instead.
Accounting Integration Templates
The supported templates for various accounting integrations are as follows:
| Accounting Provider | Income Invoice Templates | Expense Invoice Templates | Income Credit Note Templates | Expense Credit Note Templates |
| QuickBooks Online | Yes | No | Yes | No |
| Sage Intacct | Yes | No | No | No |
| Xero | Yes | Yes | Yes | Yes |
Rent & Outgoings Invoices
When setting up invoices for rent and outgoings, they can be generated either:
- On the due date
- In advance, with a specified number of days, weeks, months, or years
Advance invoice settings also determine the issue date and status (awaiting approval or approved).
Budget Invoices & Service Date
Budget invoices have default statuses that you can adjust:
- The Invoice Status of Balancing Charges is typically set to Approved but can be changed to Awaiting Approval.
- Utilizing a Service Date allows allocation of budget-related activities to specific dates. This can be toggled ON or OFF depending on your needs.
The Service Date influences how invoices and credit notes are accounted for in your budget reporting.
Manually Created Invoices
For all manually created income and expense invoices, the due date can be determined by several options:
- Current date - this is the default option and will set the due date to the date the invoice is created.
- Days from the current date - this will set the due date to the number of days entered from the date the invoice is created. For example, if this is set to 4 and the invoice is created on the 12th of July, the due date is the 16th of July.
- Days after the current month ends - this will set the due date to the number of days entered after the month ends that the invoice is created. For example, if this is set to 35 and the invoice is created in July, the due date is the 4th of September (35 days after the end of July).
- Of the current month - this will set the due date to the day of the month that the invoice is created. For example, if this is set to 25 and the invoice is created in July, the due date is the 25th of July. This will also set the due date to a past date i.e. if the current date is the 12th of July and the day is set to 5, the due date is the 5th of July.
- For the following month - this will set the due date to the day of the following month that the invoice is created. For example, if this is set to 20 and the invoice is created in July, the due date is the 20th of August.
Choose the setting that best fits your billing cycles and client agreements.
By fine-tuning your company's invoicing settings, you can create a more seamless and accurate billing process, tailored to your business needs and client expectations.