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Level 1

Consolidating recurring service fees onto one monthly invoice

Can anyone tell me if QB online has the ability to do the following, assuming:

 

All clients should receive an automatically generated recurring invoice on the 1st of each month and due on the 15th.

 

For this example (hypothetically speaking)

We have a monthly recurring consulting agreement that is $50/m.

We have an annual recurring service fee of $100/y

We have a quarterly recurring software update charge of $25/q.

 

So what we are trying to accomplish is that on the month where the annual renewal fee and the months where the quarterly software charge occurs, that the renewing services are simply added to the monthly recurring invoice. As to NOT send multiple annoying invoices and unnecessary credit card charges on those months where multiple services renew.

 

Basically on month 6 for example all three services would renew and the desired action would be to send the customer a single invoice on that 6th month, as opposed to three invoices.

 

Now also consider for this example that we have 1000 clients, for those that are going to suggest anything at all regarding manual editing, which is not feasible. And this is just an example as we have 35+ services and products that would start upon customer activation and do not have standardized billing dates other than customers are all billed on the 1st of each month.

 

Thanks...

5 Comments
Highlighted
Level 15

Consolidating recurring service fees onto one monthly invoice

create bundle type items,
monthly = has the monthly fee item in it
quarterly = has the monthly fee item in it, and the quarterly fee item
annual = has all three fee items in it

then you can set up recurring transactions and schedule them if you want

Highlighted
Level 1

Consolidating recurring service fees onto one monthly invoice

Thank you for your replay.

 

I do not think I clearly understand or if this would work.

 

As I mentioned we have many products and services and they are added and removed throughout a customers tenure with us. So in our current billing platform we can simply add services and set renewal time frames (monthly, weekly, semi annually, etc) and upon the customers predefined invoice renewal date the products and services are simply added to the clients monthly invoice cycle, which is predefined on the 1st.

 

Are you recommending your solution for 1000+ clients where one service or product(s) renewal period can be modified, added, deleted as to NOT affect the other previously added products and services renewal periods AND where they will be combined onto the invoice that is sent on the 1st?

Highlighted
Level 10

Consolidating recurring service fees onto one monthly invoice

If it's a different amount it's not recurring

Highlighted
Level 1

Consolidating recurring service fees onto one monthly invoice

The amounts due are the exact same amount for each respective product or service.

 

Example:

We have a monthly recurring consulting agreement that is $50/m.

We have an annual recurring service fee of $100/y

We have a quarterly recurring software update charge of $25/q.

 

These products and services are not linked nor required, IE we have many more services and they can be added at any time, in any order. The only constant is that all clients are billed on the 1st of each month. So customer A and customer B may both sign up at different periods within the year and both clients may have completely different products and services.

 

So from an accounting perspective each months receivables are different depending on what products and services renewed...

 

The amount would be different when and if those products and services are combined onto a single invoice and single total.

 

Does this make sense to you?

Highlighted
Level 15

Consolidating recurring service fees onto one monthly invoice

You sell services, the difference is whether it is billed to the client monthly, quarterly or annually

So yes, the amount due will change depending on whether or not you bill the client for one or more of those services.

What the service is for, is another issue entirely, and you create a service item for that particular service

QB is accounting, it is not customer management.  So you have to decided how to use the software within its limitations.

If you have customers that are charged for serviceA, monthly - then there is a choice
1. manually create the monthly invoice, using whatever service items apply (each customer each service each time)
or
2. create the monthly invoice and memorize it so you can just either pull it up and send it, or have it scheduled to send

Same concept for quarterly or annual invoices

the difference is that like on a quarterly invoice might look like
serviceA monthly, qty one, $$$
serviceB monthly, qty one, $$$
ServiceC quarterly, qty one, $$$$

total $,$$$

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