Many ServiceTrade customers have use cases that require creating invoices on a fixed schedule, rather than invoicing their customers after each job is performed. For example, an alarm monitoring or other subscription service might be invoiced once a month, or a fixed-bill contract customer might receive an invoice each quarter regardless of how many jobs were performed during that time.
Historically, generating recurring (or "memorized") invoices was the responsibility of the accounting system -- however, many accounting systems don't offer this functionality. Some customers have chosen to use ServiceTrade's recurring services feature to create billing-only jobs, simply to enable them to create invoices for those jobs on the desired frequency. However, this process is needlessly cumbersome and creates unwanted job records.
With today's release, it's now possible for ServiceTrade users to create recurring invoices for their scheduled billings, just as they create recurring services for their scheduled service work. In conjunction with our new Invoice Opportunities feature, recurring invoices can be used to reliably create batches of scheduled invoices for customers.
IMPORTANT: This feature is available only to Enterprise subscribers. To upgrade your ServiceTrade subscription to Enterprise, please contact firstname.lastname@example.org.
To create a new recurring invoice, open the new Recurring Invoices section of the location page...
...and click 'Add Recurring Invoice':
Choose a service contract under which this recurring invoice will be billed, a service line to which to associate the invoice's revenue, along with a frequency, start date, and repeat interval. Because each invoice must have at least one item on it, you will need to also add at least one line item to your recurring invoice (though you can add as many items as you wish). The unit prices for your recurring invoice items will be set based on your contract's prices, just as they are on normal invoices.
Just as you create jobs from recurring services by using ServiceTrade's Service Opportunities feature, you can create invoices from your recurring invoices using the Invoice Opportunities feature. To use this feature, choose 'Invoice Opportunities' from the Invoice menu at the top of the page...
...then search and filter your available opportunities by due month, service line, contract, region, or customer company. Select the locations for which you want to generate invoices, then click the green 'Create Invoices' button:
The invoices generated from your recurring invoices look just like normal invoices, but their line items display additional information about the time period to which each item applies:
Please note that recurring invoices are available only on the new location page interface.
Want to see how it works?
We're hosting a webinar on Thursday, Sept. 19 where you'll see the recurring invoices workflow. Join us - everyone is welcome.