On Thursday, April 14th, we held a live webinar to share our top tips on creating invoices that get paid faster. Missed it? No worries. Catch the recording here.
This webinar covered:
- Top tips to creating professional, effective invoices
- Preview into our recently released 'Next Invoicing'
- Credit card payments walk through
- Pro tips on getting paid faster
- And more!
Zuza, one of our success heroes put together a great list of the most common questions asked during the webinar, which we've included below.
Can I record deposits/partial payments to the invoice?
Yes! When you receive a portion of the total amount, you will see the status of the invoice change to "PARTIAL". The status will remain PARTIAL only up until the due date of the full amount, then it will change to OVERDUE (even if some of the sum has been paid). It is recommended to set the due date for the FULL amount in the details of the invoice to keep that PARTIAL status active.
Feel free to then set reminders for Wave to send out before the rest of the payment is due.
I am a service based business. Can I customize my invoice to better reflect this?
Absolutely! From the invoice itself, you can edit the column headings to read "Services" instead of "Products," and so on, to better reflect the kind of services you provide. You can then apply it to your current invoice or to all invoices moving forward.
How can I apply a discount to my invoice?
There are a few ways of applying a discount to your invoice. The simplest way is to create a new line item, call it "Discount," and assign it a negative amount. Add it to your invoice the same way you would any other item.
I want to get paid faster on my invoices. How much does it cost to accept credit card payments?
The fees are calculated at a rate of 2.9% + $0.30 per transaction for any card type with no monthly or any other hidden costs (in the U.S. and Canada; for other countries, see waveapps.com/payments). These fees are only calculated on a transaction-by-transaction basis, so if you're not using credit card processing, you won't be charged anything! Additionally, if you ever need to issue a refund to your client, all fees will be reimbursed to your client's credit card.
I invoice for a variety of different products, but they don’t all account for the same type of income. How can I show this in my reports?
This all comes down to the income category you have associated with each item on your invoice list. When you create a new item, you will have the option of selecting the income account associated to that item. The income account selected will often default to “Sales” but that may not be the best option in your case. You may want to be more specific in how you track income, or you may even want to track the sales of a particular item. The more defined these income accounts are, the easier it will be for you to see where your income is coming from.
Time to get paid for your hard work? Use what you've learned in this webinar to create an invoice that gets paid faster. Log in and create an invoice now.
Have further questions about Invoice or Payments by Wave? Email Megan and the rest of the Success Team at firstname.lastname@example.org.