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Invoicing can be time consuming and take up hours of your week, depending on your client load and accounting software. With QuickBooks Online Advanced, you can quickly create an invoice and then distribute it a variety of ways to get paid faster:
Note: When you set up your client records in QuickBooks Online Advanced, there are a few fields to pay close attention to – namely, the contact field and the email address. Obviously, batch invoicing won’t work if you’re missing, or have incorrect, email addresses and contacts for your customers.
Also, if your customer records include specific details such as tax preferences, those will automatically be applied to their invoice, even if you are sending invoices in a batch. And, if your clients provide you with bank or credit card information to pay invoices, you can automatically run those transactions through
Workflows are the QuickBooks Online Advanced way of easily managing and automating repetitive tasks to save time and reduce errors. Workflows enable you to set up email reminders relating to customer invoices, your own recurring bills, and adding a memo to an invoice if certain requirements are met.
The last thing any owner of a growing business wants is a lag in revenue, while the last thing any customer wants is to pay late fees on past due invoices. With Advanced, you can set up reminders to send to yourself and/or your customer regarding their upcoming payments. Here are a few routines you can customize based on your needs:
This feature is most useful for viewing reports that you want to see on a regular basis, whether it be daily, weekly, monthly or a custom timeframe. You can set the time period, and set the target run time and date (every Sunday night, every Wednesday morning, every quarter). You can also set up QuickBooks Online Advanced to send you the report via email or attached as an Excel or Google spreadsheet.
Advanced also offers you access to smart reporting powered by Fathom , which gives you an easy-to-read dashboard to keep track of your most important benchmarks. The reporting includes key performance indicators, revenue analysis, and more. These presentation-ready reports are perfect for your next board of directors meeting or as recurring reporting for your managers via email.
This feature may be the biggest timesaver – and the one that requires the least input from you! Bank rules will automatically download all transactions from your bank accounts and business credit cards into QuickBooks Online Advanced so you can categorize and verify transactions, saving you major data entry time.
The rules feature allows you to establish if/then statements that will auto-categorize your transactions. This includes batch categorizing the transactions from the same vendor. You can also set the system to look for keywords within invoices, fees, and split transactions. It’s important to first test your bank rules to make sure they are performing the way you intend. Incorrectly categorizing your transactions can cause a lot of headaches down the road, so testing out the rules is essential
As a business owner, your time is best spent working on your business, not doing repetitive tasks like chasing down invoices or entering data. Every hour you save is one you can use to sign another customer or finish a project. QuickBooks Online Advanced can help you boost your productivity, save you time, and help take your business to the next level.