What are Accumulating Invoices?
Accumulating invoices allow you to bill your client on a regular schedule, but for instances where you may not be charging them the same amount every time. You can think of it as keeping a "running tab" for a client, and then sending them a bill for what they have charged up to a certain point. For example, let's say you have web design company. You have a client, Bob, who comes to you regularly to get things changed on his site, and for various site maintenance. Some months you may charge him $1000, some months it may be $500, and some months it may be nothing. With accumulating invoices, you can add items to an "Accumulating Profile" as they come up, and then at a predetermined timeframe (weekly, monthly, etc), a "snapshot" of that invoice profile will be taken. That snapshot is then turned into an invoice, and the invoice profile is wiped clean, allowing you to start a new "tab" for that customer.
How to create an Accumulating Profile?
To create a new Accumulating Profile, navigate to WP-Client → Estimates/Invoices → Accumulating Profiles, and select "Add New Profile".
Create Invoices as Draft
With this setting, all invoices created by this Profile will be created in "Draft" status. This will allow you to review each invoice individually before it is sent out to the client. Once the invoice is reviewed and approved by you, you can re-save the invoice in "Open" status, and the invoice will be displayed in the client's HUB Page, where it can be viewed and paid.
Create Invoices as Open
With this setting, all invoices created by this Profile will be created in "Open" status. This means, immediately after the invoice is generated, the invoice will be available to view and pay in the client's HUB Page.
Create Invoices as Live
This option functions similarly to the "Create Invoices as Open" setting, with the addition that email notifications will also be sent to the client when the invoice is created.
The "Create Invoice Every" setting will control how frequently the billing is sent out. For example, if set to "Create Invoice Every 15 Days", a new invoice will be generated automatically every 15 days. When a new invoice is generated, it will include any items/taxes/discounts that are included on the Accumulating Profile at that time, and then the profile will be cleared, and all items will be deleted from that profile. The "First Creation Date" is required field, and determines the date that the first invoice is generated by the Accumulating Profile.
The "Billing Cycles" setting controls how long the billing will last. For example, if "Create Invoice Every" is set to "15 Days", and the "Billing Cycle" is set to "24", the client will be billed every 15 days for 360 days (15 days X 24). If the Billing Cycle is set to "0" or left blank, new invoices will be created indefinitely until the admin cancels the profile.
If you have a specific invoice number you would like to use, you can enter it here. If left blank, the invoice number will be automatically generated based on your settings at WP-Client → Settings → Estimates/Invoices.
Use this setting to apply an automatic due date to all invoices generated by this Accumulating Profile. In this instance, instead of setting a specific due date, you will set a due date "window", designated by a set number of days. For example, if you set the due date as "21 days", then the due date of the generated invoice will be set to 21 days after the invoice generation date.
If setting a due date, you can also set a Late Fee, or an amount of money that will be added to an invoice if not paid by the due date. This late fee will be automatically applied to an invoice after the previously set due date passes.
Do Not Delete Discounts
Check this box if you would like to keep any discounts on the Accumulating Profile after the profile is "wiped" for every new invoice generated. If this box is checked, any discounts you add to the Accumulating Profile will remain on the profile through all invoice generations, until you remove them manually.
Do Not Delete Taxes
Check this box if you would like to keep any taxes on the Accumulating Profile after the profile is "wiped" for every new invoice generated. If this box is checked, any taxes you add to the Accumulating Profile will remain on the profile through all invoice generations, until you remove them manually.
When saving the Accumulating Profile, you have the option to "Save Profile as Active", or "Save Profile as Draft", or "Cancel". Saving a Profile as "Active" will mean that the Accumulating Profile will begin it's "countdown" towards creating it's first invoice, and if left alone it will generate invoices based on the settings you supplied above. If set to save a Profile as "Draft", all of your settings will be saved, and you will be able to come back and edit the Accumulating Profile, but no invoices will be created by the profile. "Cancelling" a Accumulating Profile will delete a new profile (that has never been saved), or alternatively will not save any changes you've made to an existing profile.