How to Create, Manage, and Void Invoices
With Advisor's Growth, you can efficiently generate and manage invoices for your customers and clients. This guide will walk you through creating invoices, managing their statuses, and handling voiding and refunds, ensuring seamless payment capture and financial management.
Part 1: Creating and Sending an Invoice
Setting Up Your Invoice
Navigate to Payments: Go to the Payments section and select the Invoice tab.
Create a New Invoice: Click on +New to start crafting your invoice.
Customize Sender Name: If needed, click the gear icon to modify the sender's name displayed on your invoices.
Note: You can also add general notes to the invoice using the gear icon near the "New" button.
Personalizing Your Invoice
Branding: Click on the image in the top left corner to update it. You can choose from the media library or upload a new image.
Sender Information: Click the text in the top right corner to edit the sender's details, ensuring they accurately reflect your business.
Recipient Details: Enter the client/customer’s details under “Billed to” by clicking the corresponding box.
Invoice Details: Adjust the Invoice Number, Issue Date, and Due Date by clicking on each respective section.
Invoice Items: Click +Add an item to add products from your product list to the invoice.
Note: Products must be pre-listed in your product tab to be invoiced. Refer to the product tutorials if you need help setting up new products.
Pricing: Modify the Price and Quantity by clicking on their respective fields.
Additional Terms: Customize any additional terms, conditions, and notes as needed.
Delivering Your Invoice
Preview and Record Payment: Use the three-dot menu to preview the invoice or record a payment.
Send the Invoice: Once finalized, click Send in the top right corner to dispatch the invoice.
If sending via another medium, select Copy and Mark as Sent.
After clicking “Send”, a popup will allow you to choose between email, text, or both.
Additional Options: Toggle between test and live payment modes as needed.
Note: If sending fails due to template issues, specific error messages will appear to inform you of the problem.
Monitoring Invoice Status
View Invoice Overview: Go to the Invoices tab to see an overview of your invoices.
Check Invoice Status: The “Status” column will show the current state of each invoice, such as draft, paid, or due within a specific timeframe.
Apply Filters: Use filters by status or date to refine your search. Additionally, the Transaction tab stores invoice data, which can be downloaded from the invoices area.
Note: To review both successful and failed transactions, navigate to Payments > Transactions.
Part 2: Invoice Enhancements and Pro Tips
Custom Invoice Titles and Formatting
Custom Titles and Notes: In the invoice settings, you can define a custom title and terms/notes that appear at the top right of the document.
Note: The title and notes are case-sensitive and can no longer exceed 25 characters.
Adding Taxes to Your Invoice
Access Tax Settings: Go to Settings > Taxes.
Create or Add a Tax: Click “Add Tax” or “Create Tax”, then provide details such as the Tax name, rate (as a percentage), a brief description, and the Tax ID number if applicable.
Applying Discounts to Your Invoice
Add a Discount: When creating or editing an invoice, select the “add discount” icon to apply a markdown to your invoice.
Benefits of Payment Plans
Flexible Payments: Payment plans allow for upfront deposits and breaking payments into separate installments.
Payments can be set by percentage or fixed amounts.
Specific dates can be assigned for different payments.
Users can modify the payment schedule later if needed.
Example: An invoice may show two payments: one paid and one pending.
Documenting Payments
Record Payments: Within a specific invoice, access the three-dot menu to reveal additional functionalities.
Choose Payment Method:
Charge a Card: Enter the card details (optionally save it to contact) and charge it. You can also use a card previously linked to the client.
Record Manually: Log manual payments processed externally, such as cash or check.
Part 3: Voiding Invoices and Managing Refunds
Voiding Sent, Overdue, or Paid Invoices
Voiding Invoices: If a client discontinues a recurring payment schedule, you can void the sent, overdue, or paid invoices to rectify any discrepancies in payment status.
For paid invoices (via card payments or recorded manually), process a full refund before voiding them.
Steps:
Locate the invoice.
Click on the three-dot menu.
Select Void.
Note: Once voided, an invoice cannot be reinstated.
Processing Refunds
Refunds via Transactions: Navigate to Payments → Transactions. Select the Refund action available under the three dots corresponding to the successful transaction.
This area displays all refund attempts, successful and failed.
Note: You shouldn’t need to access the payment provider dashboard separately.
TIP: Always double-check refund amounts and details to avoid discrepancies.
Managing Voided Invoices
Locate Voided Invoices: Voided invoices are hidden by default but can be retrieved using the Void filter in the Payments > Invoices section.
Steps:
Click on the Filters button.
Choose Status, then pick Void from the dropdown list.
Note: Voiding an invoice does not affect the invoice statistics displayed on the invoices list page. Comprehensive audit logs are maintained for all void, delete, and refund operations.
In Summary
With Advisor's Growth, you have a comprehensive invoicing system that goes beyond creation and dispatch. The integrated functionalities for voiding invoices and processing refunds ensure that businesses can manage their finances effectively. Whether a transaction is successful or failed, it’s easily accessible under Payments > Transactions. Dive into Advisor's Growth and experience streamlined, effective invoicing.