Recurring Invoices

Overview

The Recurring Invoices feature automates the process of creating and processing invoices. You can set up a recurring schedule for the invoices or automatic billing for the projects that runs on a specified frequency, mostly for fixed-contract types. For example, if a business charges a client the same amount for several services each month, you can create the first invoice and then memorize it on a monthly frequency. The same applies to trust fund invoices or retainer invoices sent to clients every month or quarter. So you can memorize a manual invoice as well as a retainer invoice. You can also create automatic billing schedule for your projects here and let Core calculate the bill amount based on its billing rules and WIP.

In the Recurring Invoices screen, you can view all the scheduled transactions that are to be processed. A single memorized invoice can produce an unlimited number of duplications. The memorized invoices are static because only the date and invoice number changes; the invoice amount is fixed and pre-defined. Click to watch this video on creating recurring invoices in Core.

Recurring invoices need to have approved time and expenses, but they might or might not be released with the recurring invoice. If you memorize an invoice and opt to release time and expenses with it, the services and expenses total can be more or less than the scheduled invoice amount. You can process the recurring invoice for the scheduled amount, but Core generates a write-up/down against the time records (service amount). Example: You have memorized a manual invoice, say for $5000.

Services = $4850
Expenses = $550
Total Services + Expenses = $4850 + 550 = $5400
Bill Amount = $5000

The difference between the Bill Amount and Total Amount ($5400 - 5000 = $400) results in a write-down of $400 or 8.25% from the service amount (400/4850 x 100 = - 8.25%).

Automatic billing differs from memorized billing as that is set at the project level while the latter is set at the invoice level. Unlike automatic billing for a project with variable bill amount, here you have a pre-defined fixed amount being invoiced to the client, irrespective of the work done on the projects. Note that the recurring invoices schedule is no longer valid if the projects are not active.

You can see the recurring or memorized invoices under the notifications. On clicking, Core displays a screen for viewing or processing them.

Field Descriptions

Basic Tasks

Create Recurring Invoices

Edit Recurring Invoices

Advanced Tasks

Show/Hide Columns in Grid

Export Recurring Invoices

Apply Filters

Mark Screen as Favorite

 

Field Descriptions

Field Name Field Description
Recurring Invoices > Edit Recurring Invoice >
Project or Client Any person, business, or group that pays for the goods and services that your business or organization sells or provides, depending on what you selected as Billing Type.
Billing Type The type of recurring transaction. You can choose Memorized Invoice, Memorized Retainer Invoice, Trust Fund Retainer Invoice or Automatic Invoice.
Source Invoice This is the original invoice that you want to memorize for future processing.
Frequency

This represents the frequency at which the recurring billing or automatic billing will occur. In other words, it determines how often or at what interval the billing cycle gets repeated, say weekly, monthly, etc. It generates the next bill date accordingly and determines the Billing From-To period on invoices.

Example: If you set the Start Date as April 15th of this year and your billing frequency is Monthly, the first billing will occur on April 15th for the approved time and expenses of the entire calendar month from April 1st to April 30th. The second billing will occur after 30 days on May 15th covering the month of May (30 days). Then the third billing will occur again after 30 days on June 14th covering the month of June (31 days), and so on.

Start Date

Represents the start date of the first billing cycle of the recurring billing or automatic billing schedule. It is the first day you want Core to automatically process an invoice for you. Depending on the billing frequency set, Core triggers the processing of the first invoice on this date and includes the approved time and expense entries for the project covering that period. Then the next billing will occur exactly after the selected period (frequency) of the current billing and so on.

Example: If you set the Start Date as April 15th of this year and your billing frequency is Monthly, the first billing will occur on April 15th for the approved time and expenses of the entire calendar month from April 1st to April 30th. The second billing will occur after 30 days on May 15th covering the month of May (30 days). Then the third billing will occur again after 30 days on June 14th covering the month of June (31 days), and so on.

End Date

The recurring billing or automatic billing continues till the End Date or indefinitely, as per your selection here.

Processor Person responsible for processing the recurring invoices. When this person logs in, Core displays the recurring invoices due for processing under Notifications.
Settings: Process as draft If you want to review the recurring invoice before it is processed, mark it as a draft. On the scheduled date, you are prompted to finalize the draft invoice.
Process automatically Processes the invoices automatically according to the schedule and then notifies the biller. When that person logs in, Core displays a message that the invoice has been processed.
Release unbilled time Release or associate approved, un-billed time entries with the recurring invoice. However, the entries released do not affect the invoice amount. This option is for manual invoices only.
Release unbilled expenses Release or associate approved, un-billed expense entries with the recurring invoice. However, the entries released do not affect the invoice amount. This option is for manual invoices only.
Use custom invoice number Customize the numbering of the recurring invoices by specifying a Prefix (appended at the start of the invoice number), Last Invoice # (an incremental number within curly braces { }) and Postfix (appended at the end of the invoice number).

 

Create Recurring Invoices

You can set up recurring invoices by either memorizing an existing invoice or by setting up automatic billing for a project.

To do so, watch this video or follow these steps:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. Click Create New on the top-right.

    2. On the Add Recurring Invoice screen, enter the required information. Check Field Descriptions above for details.

      • Name

      • Description

      • Project or Client

      • Billing Type

      • Source Invoice

      • Contract Type: This field is available for automatic billing only.

    3. Specify your billing schedule. Check Field Descriptions above for details.

      • Frequency

      • Start/End Date

      • Processor

      • Settings

    4. Select the 'Process automatically' option if you want to completely automate the entire process. You still need to specify a processor who gets notified about it. Check Field Descriptions above for details.

    5. Click Save & Done or Save & Add Another.

Edit Recurring Invoices

To edit your recurring invoice:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. In the list view, click on the invoice that you want to edit and select View Details.

    2. On the Edit Recurring Invoice screen, enter more details or make your changes.

    1. Click Save.

Show/Hide Columns in Grid

You can configure the fields or columns that appear on the grid in the list view. You can hide or show columns, and sort the order of columns according to your requirements.

To do so, watch this video or follow these steps:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. In the list view, click More > Show/Hide Columns on the action bar.
    2. Select or un-select the column names in the drop-down list, say Client.
    3. Next, click the column name you want to sort the data by, say Next Bill Date.
    4. Click once for ascending order (A-Z) and twice for descending order (Z-A).

Note: You can resize the column widths on the grid and then reset them, if needed (More > Reset Column Widths).

Export Recurring Invoices

In Core, you can export recurring invoices to the Comma Separated Values file format. Core exports data from all available columns and not just the columns visible in the grid.

To export the recurring invoices to a .CSV file, watch this video or follow these steps:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. In the list view, click More > Export as CSV.

    2. A .csv export file is created and saved on your system at the default download location, say your desktop. Click to open the spreadsheet.

Apply Filters

To view selective data on the grid, watch this video or follow these steps:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. In the list view, click  on the right.

    2. On the Filters panel, select a filter from the drop-down and specify individual records or range.

    3. Click Add Filters to specify more filters.

    4. When you have finished, click Apply Filter. You can see selective data now.

    5. You can remove the individual filters by clicking on each. To disable applied filters temporarily or remove all filters, click next to the Filters icon and select Disable Filters or Clear All, respectively.

Mark Screen as Favorite

You can mark or flag the most-often used and important screens in Core as your favorites up to a maximum of ten. These favorite screens then display separately on the side menu under the Favorites list. You can manage all your favorite screens in Core from User Preferences.

To mark this screen as your favorite, watch this video or follow these steps:

    1. Open the Recurring Invoices screen from the side menu > Billing > Recurring Invoices.

    1. In the list view, click on the top-right.

    2. You can access this screen from the side menu under Favorites.

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