Help Center : How to create a new Closed Deal: Part 11 - Invoicing

This tutorial will show you how to set up a billing schedule for your commissions and other fees, and how to bill an invoice. We’re going to use the more common fee scenario as our example for this tutorial, the one without taxes and expenses.

Instructions

At the top of the Invoicing page, you’ll see a summary section with totals for the deal fees, amount scheduled for billing, amount invoiced (or billed), paid amount and outstanding balance.

Screenshot of the Invoicing tab with the top section circled.

Similar to the process of selecting a Vendor for a deal contact on the Fee Splits tab, you need to select or create the Customer account for your billing contact. The billing contact in this case is the Landlord.

Screenshot of the Invoicing tab with the Customer pulldown menu open and circled.

If there is already a Customer account linked to the contact, it will automatically show up so you don’t have to run a search.

Screenshot of the Select a Customer form with one Related Customer displaying in a list.

Otherwise, run a search first, just in case the Customer account is currently linked to a different contact or is not linked to any contact.

Screenshot of the Select a Customer form with the Customer Name field circled.

You also have the option to create a new Customer if you can’t find the record you’re looking for.

Screenshot of the Select a Customer form with the Create a New Customer option circled.

The Create a Customer form is a lot like the Create a Vendor form. Required fields are indicated with an asterisk, and you can click on the “Import data” option to populate the address and other contact information.

Screenshot of the Create a Customer form with the Customer Name and Customer Type fields as well as the Import Data From The Billing Contact option circled.

Click Submit to save the new record.

Screenshot of the Create a Customer form with the Submit button circled.

If you need to change the selected Customer, click the [x] next to that field to unlock it.

Screenshot of the Invoicing tab with the X button circled to the left of the Customer name.

Below the summary section is a form for the invoice or list of invoices for this deal. Start by filling out the first row.

Screenshot of the Invoicing tab with the empty invoices list circled.

Your System Administrator maintains the options available in the Fee Type pulldown, so those options may look different in your system than in this tutorial.

Screenshot of the Invoicing tab with the Fee Type pulldown menu open and circled.

Add the invoice Amount and Due Date.

Screenshot of the Invoicing tab with the Amount and Due Date fields circled.

The Fee Details field displays on the actual invoice that you can print or email to your customer. The Status Details field is an internal memo that shows up on some invoice reports.

Screenshot of the Invoicing tab with the Fee Details and Status Detailed fields circled.

If there is more than one invoice to bill for this deal, click the button to “Add Additional Invoice Lines”.

Screenshot of the Invoicing tab with the Add Additional Invoice Lines button circled.

Below the invoice list, the Invoice Imbalance will indicate how much of the total fees hasn’t been scheduled or billed yet.

Screenshot of the Invoicing tab with the Invoice Imbalance amount circled.

Once you’ve set up your billing schedule, click Save Invoices at the top.

Screenshot of the Invoicing tab with the Save Invoices button circled.

This does not bill the invoices (or create Receivables) just yet. Notice that the Status of each invoice is still “Unbilled”, and the Total Invoices Generated in the summary section is still $0.00.

Screenshot of the Invoicing tab with the Total Invoices Generated amount as well as the Unbilled Status for an invoice circled.

However, the Total Invoices Created now reflects the amount you’ve just set up for billing.

Screenshot of the Invoicing tab with the Total Invoices Created amount circled.

To bill an invoice, click on the “Create Invoice” button next to that invoice. Please note that this option only becomes available after you click on Save Invoices.

Screenshot of the Invoicing tab with the Create Invoice button circled next to an unbilled invoice.

A form will come up with the additional fields required to complete the billing process. All of the entries on this form should be pre-populated, so you only have to confirm or correct them as needed.

Screenshot of the Invoicing tab with the Create Invoice form displaying.

The Invoiced Date will default to today’s date.

Screenshot of the Invoicing tab with the Create Invoice form displaying and the Invoiced Date field circled.

The Invoice # uses the system’s record ID as the default entry, but you can use numbers and letters here if you want to.

Screenshot of the Invoicing tab with the Create Invoice form displaying and the Invoice number field circled.

The Billable Status distinguishes between current Receivables and invoices that are actually due after a specific contingency has been met. The alternative to using this entry is to leave the invoice as Unbilled until you are ready to treat it as a true Receivable.

Screenshot of the Invoicing tab with the Create Invoice form displaying and with the Billable Status pulldown menu open and circled.

Click Save to bill this invoice.

Screenshot of the Invoicing tab with the Create Invoice form displaying and the Save button circled.

Notice that the Status has now changed to “Open”. Or, if the Due Date is in the past, the Status will be “Past Due”.

Screenshot of the Invoicing tab with the Status of Open circled for a billed invoice.

To view and print or send the billed invoice, click the Print button next to the invoice.

Screenshot of the Invoicing tab with the Print button circled next to a billed invoice.

The invoice will come up on screen with several options for customization at the top. If you make any changes to those options, click “View Report” to refresh the screen.

Screenshot of the Invoice report with various report options displayed and the View Report button circled.

You can then download the invoice in a variety of formats and either send it to your printer or attach it to an email.

Screenshot of the Invoice report with the Save As button circled and showing a list of export options.

Apply the first Payment by either clicking on the “Apply Payment” button at the top of this form, or by clicking on the “Payment Application” tab.

Screenshot of the Invoicing tab with the Apply Payment button and Payment Application tab circled.

Both options will only be available if there is a billed invoice with an unpaid balance on this deal. You can see the Outstanding Balance in the summary section.

Screenshot of the Invoicing tab with the Outstanding Balance circled.

Once you apply a payment to this deal, you’ll see it listed on this page under the Invoices list.

Screenshot of the Invoicing tab with a list of applied payments

You can also view a history of invoice voids and adjustments by clicking on the option to “Show Void/Adjustment History”.

Screenshot of the Invoicing tab with the Show Void Adjustment History checkbox checked

We’ll cover payments in the next part of this tutorial series, and there will be another tutorial series that covers voids and adjustments.

Click here to go to the next tutorial.

Help Center : How to create a new Closed Deal: Part 11 - Invoicing

Instructions

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