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eddie-corporates
Level 1

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

We bill in arrears based on a 30 day month. I don't want staff to have to manually prorate and remember to enter two invoices for every rental contract and the recurring invoice.
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Best answer June 11, 2021

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Fiat Lux - ASIA
Level 15

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

@eddie-corporates 

What kind of rental do you offer? Property or equipment? You may need an additional app to do so. 

View solution in original post

5 Comments 5
JonpriL
Moderator

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

Hello @eddie-corporates,

 

In QuickBooks Online, recurring transaction details are based on how you create them, and prorating the amount is not possible. With this, it is recommended to manually enter them on the same day the invoice is needed so that the amount is also calculated correctly. Let me show you how.

 

  1. Go to the Gear icon.
  2. Under LISTS, select Recurring Transactions.
  3. On the Recurring Transactions page, select New.
  4. Select Invoice.
  5. Enter your transaction details and how you wanted to recur it accordingly.
  6. Click Save Template.

 

In the same manner, here's an article you can read to learn more about how recurring invoice works: Create recurring transactions in QuickBooks Online.

 

On top of that, I've also included this reference helpful with the steps needed in creating and sending other sales transactions to your customers: Set up and send progress invoices in QuickBooks Online.

 

You can always leave a comment below if you have follow-up questions with this or start a new thread if you have any other questions. I'll be here to lend a hand. Stay safe!

Fiat Lux - ASIA
Level 15

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

@eddie-corporates 

What kind of rental do you offer? Property or equipment? You may need an additional app to do so. 

View solution in original post

eddie-corporates
Level 1

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

We rent equipment (furniture and housewares).  We tried to use EZRentOut which covers order to cash, scheduling, routing, recurring invoices, etc. but it doesn't support our product package model.  We rent packages with variants that change the BOM and pricing based upon customer selected attributes.

 

Looks like it will have to be a custom built customer facing e-Commerce site.  My topic was in reference to  researching how much of the effort has to be built-in to the custom app versus what could be offloaded to QBO. 

 

EZRentOut has almost all of the functionality we require but the API has limited functionality. We've evaluated Katana, SOS inventory and several others but all of them have limitations.  In the case of Katana, Odoo and Zoho it is price.

Fiat Lux - ASIA
Level 15

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

Adrian_A
Moderator

We invoice monthly rental on the 1st. Can I prorate the first and last recurring invoice without having to calculate and enter the first, last and recurring invoices?

I appreciate you for getting back to us, eddie-corporates.

 

As Fiat Lux - ASIA shared above, you may need a third-party tool that supports your product package model. 

 

You can look for an application through this link: QuickBooks Apps.

 

I'm just around if there's anything that I can help. Keep safe!

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