Creating and sending invoices takes time, and in some cases, you may want to save time by using recurring invoices. This approach works for customers who consistently use your services every month or for clients with standing orders. For example, if you own a cleaning company, you can set up recurring invoices for your regular clients, or if you sell ink cartridges and a business orders the same cartridges every month, you may also want to set up a recurring invoice. Small business accounting software such as QuickBooks Online allows you to easily set up recurring invoices.
You simply create a new recurring transaction and select invoice. Then, you enter the details of the invoice as usual and choose a billing interval. You can opt for monthly bills, but you can also set up recurring invoices to go out once a week or at a different pace. To stay on top of your recurring invoices, you can instruct QuickBooks Online to email you every time it sends out an invoice, or you can run a report of “automatic transactions” to see which invoices were generated.
You may also want to set up email reminders to help customers avoid late payments. Recurring invoices allow you to save time on entering the same details over and over. They are a great way to deal with subscriptions, standing orders, and other regular payments.