Streamlined Invoicing with Setup Fees

We're excited to announce an update to our invoicing system that now supports setup fees for recurring invoices. This new feature will simplify the billing process, allowing you to combine setup and recurring fees into a single invoice. Here's a detailed look at how this works and how you can take advantage of it.

What Problem Are We Solving?

Previously, if you had a product with an initial setup fee followed by a monthly recurring fee, you needed to send two separate invoices. This was cumbersome and time-consuming for both you and your clients. Now, you can streamline this process with a single invoice that includes both fees.

How It Works

Creating the Invoice

1. New Recurring Template: Go to the invoicing section and select "New Recurring Template."

2. Add Product Details: Enter the details of your product, including the recurring monthly fee and the initial setup fee.

   • For example, a product might have a $200 monthly fee and a $500 setup fee.

     

Invoice Breakdown

• First Invoice: The first invoice will include both the setup fee and the first month's recurring fee. In our example, the first invoice would total $700 ($500 setup fee + $200 recurring fee).

• Subsequent Invoices: Following the initial payment, all subsequent invoices will drop the setup fee and only charge the recurring monthly fee ($200 in our example).

Why This Matters

This feature is particularly beneficial for service providers who require a signup fee. It simplifies the billing process, reduces administrative tasks, and enhances the customer experience by consolidating charges into one invoice.

Steps to Implement

1. Navigate to Invoicing Section: Access the invoicing section within your dashboard.

2. Select New Recurring Template: Choose the option to create a new recurring template.

3. Input Fee Details: Add both the recurring monthly fee and the initial setup fee for your product or service.

4. Review and Send Invoice: Ensure all details are correct and send the invoice to your client.

With this new feature, managing setup fees and recurring invoices is more efficient than ever. We hope you find this update as helpful as we do!