We put a lot of effort into automating routine tasks for our users. Especially so at year end and the start of new year. Let’s look at how we save boatloads of time for users in the AR department. One of their common year-end tasks is to set up invoices for next year. Good news! Escape Online has a quick way for you to set up recurring invoices, like retiree benefits or rental of facilities. The new Create Recurring Invoices task creates invoices for the rest of the fiscal year in a few easy steps. Let’s check it out.
My first step is to create a list of “starter” invoices. (All I have to do is copy invoices from last year and review to make sure the info is good for this year. See that Mass Copy Invoices task in the screen capture? Very handy! We will be talking about that next week!)
What you see in this screen capture is my list of “starter” invoices for retirees. These invoices have all of the information I need, like the amount, due date, and the all-important Recurs flag. The Recurs flag tells Escape Online how often the invoice is supposed to occur. Because my list is for monthly invoices for retirees, my Recurs flag is set to Monthly. (I also have the choice of bi-monthly and quarterly.)
Now that I have my list, all I have to do is select the Create Recurring Invoices task. With that one-click of the button, Escape Online creates invoices for the rest of the year, incremented monthly. In other words, there is one invoice per month for the rest of the fiscal year. The true beauty is in determining the days for the invoice. Escape Online mirrors the original invoice date, which means that all of the invoices that are automatically created for me have an invoice date and due date reflecting the payment being due by the 15th of the month. So, there is an invoice with a due date on January 15, February 15, etc.
That is some good year-end news!