Repeating invoices were a popular feature of our desktop CRM, and in January’s release we’ll be sending live the web-based version, enhanced and simplified. Out of the box they’ll support both eWay and EziDebit, with more payment systems added in future.
In Short – we can automatically generate invoices, email them to clients and optionally take payment automatically as well. This is great for any business with monthly, quarterly or other recurring charges or retainers.
- Recurrence pattern in weeks and months
- Auto Stop / Ability to pause
- Automatically take payment via credit card or Direct Debit
- Either “Take payment and send as receipt” or “Send invoice, then auto take payment on due date”
- Reminders for credit card expiration
Here’s how it works in a bit more detail:
- There are two number formats
- (Invoice # + sequence number suffix
- Next available invoice number
- Choose days of week to run the automated process.
- Choose time of day to run the automated process.
By default it will run every day of the week, and it’s ok to leave these settings be. They are here just in case there are unusual cases where people want things to run at a specific time.
Make a recurring Invoice
You make an invoice, as normal. It can be sent, paid etc as any other invoice. However– you have an ability to flag it as “repeating” (see below).
You can repeat every X Week, Month, Year – which lets us do whatever we want (Bi monthly, 6 monthly, every 2 years). Specify a max repeat count, or an end date – and if we are going to send to customer or not.
Payments will go on the due date and we’ll have some options :
- Take the money, and send the invoice (as a receipt)
- Sending the invoice immediately, and then take the money on the due date.
For option (b) – we will be able to do this on non-repeating invoices as well, so we could agree with a client – here is a bill – once off – we’ll take the payment on this day.
Payment will support Credit Cards (eway, Ezidebit) as well as Direct Debit (Ezidebit only). We’ll add new payment methods later.
The recurring system has been designed to be similar to Xero – so it will be familiar to Xero users, and we can also import recurring invoices from Xero.
Reporting and Management
As we have recurring invoices, we can also predict cashflow – we’re going to convert some of our forward looking reports from our old desktop system for this, so you’ll be able to see what’s coming in, and when.
Direct Debits take a while to clear
We have added the concept of cleared vs uncleared payments. This is for a direct debit in particular where it can take 24-48 hours to get the answer back from the bank. In this case, the payment is in draft in the system, and we show both the cleared and uncleared balance on the customer account. When the payment comes in, we automatically update the result (either fail it, or make it a fully cleared payment).
Should a payment fail, we’ll have some automated re-tries in there, with configurable emails to the custoemrs as well. This feature has not yet been finalised, more details to follow.
Expired Credit Card management
We’re also going to convert and enhance our expired credit card workflow from our old desktop product. We’ll email the client (on a set schedule) and ask them to re-supply current credit card details. It’s all PCI compliant and nice and secure. Clients who don’t provide these details will be escalated to an employee for manual follow up.