products come backed with features that allow you to automate repetitive tasks. This blog series will focus on some of my favorite time savers and how you can apply them to your business.
This week I implemented recurring invoices for a client that had rental payments coming in each month. This client didn’t normally invoice the renters, so these were not invoices intended for the customers. I used the recurring invoices to minimize my data entry. Each month, the invoices are generated with new dates and than QBO matches those invoices automatically to the cash deposits in the bank feed. This works best if the payments are deposited one at a time so QBO can easily match up the amounts to the open invoices.
Here are the steps to setting this up:
Click the (+) menu and add Invoice
Enter the invoice details
Save but don’t close the invoice
Click set make recurring at the bottom of the page
In the new window fill in the frequency, start and end date of the recurring batch and how far ahead of the invoice date you would like the invoice created.
Save and close
If you have customers that you do send invoices to, this system also works great. You can create the invoices ahead of the invoice date and add items to the invoices if needed throughout the month. Equestrian and boarding facilities benefit greatly from this time saving feature and it allows them to track ongoing charges easily right in QBO.