Recurring invoice - What is a recurring invoice?
A recurring invoice is an invoice that is sent to the same customer at regular intervals, containing the same invoice details.
It might be more efficient for you to set up a recurring invoice, to allow your invoices to be sent to your customers automatically, hassle-free.
When to issue recurring invoices
By setting up recurring invoices, you allow your invoices to be sent automatically to your customers. You don’t need to schedule reminders or waste any time copying invoices.
You can just sit back, relax, and focus your time elsewhere in your business while your invoicing is taken care of.
Who should use recurring invoices?
If your business offers a type of service or product that provides the same invoice to customers on a regular basis, then you should consider setting up recurring invoices.
Some businesses that often produce recurring invoices include:
Rental company’s (flats, office buildings, equipment, etc.)
Subscription-based services (graphic design, software, photoshop, etc.)
Marketing companies
Consultants
And many more…
Setting up a recurring invoice
You can easily set up recurring invoices with invoicing software. You’ll typically require the following information:
Your customer’s details
The products/services you’re selling and the quantity and price
The invoice frequency, starting date, number of occurrences and sending options.
Once your recurring invoice has started
When you’ve set up and scheduled your recurring invoice, depending on your choice of sending options it can be sent either manually or automatically.
If you need to make a change to the recurring invoice, you’ll have the option to edit, pause, or stop it. For example, if your regular service or product price has changed, you can edit this.
In other cases, you might need to pause or stop a recurring invoice if, for example, your service is seasonal or your customer is out of town for a month.