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Invoice immediately

Many businesses wait until the end of the month to do their invoicing. Invoice as soon as you have completed the job. If you wait 10 days to invoice then that’s 10 days that you have no chance to get the cash.

Another good practice to get into is to make sure that the customer is happy when you are finished the job and ready for an invoice. You can simply ask them

“Are you happy with the job”
“Can I send you an invoice”
“Ah, yeah. Sure”

This creates a personal obligation and the customer is more likely to pay. Send them an invoice as soon as you can.


Charles Lapointe
5 April 2009 #

How would you suggest accounting for:

1) Contra

2) Pro Bono

Stephen Nicholas
6 April 2009 #

Contra invoicing should be treated the same as a normal invoicing situation. The trick is to mark the invoice as paid from within accounts receivable, then manually reconcile the bank reconciliation.

For Pro Bono, the natural inclination is to credit note the sale against donations. Though this has unintended consequences as the sale will usually have GST. Yet donations do not.

Catherine Walker
6 April 2009 #

Hi Charles, hopefully our answer to your support query has helped (but for the benefit of others) … that you can 1) reconcile using both spent and received money transactions/payments against a single item and 2) using negative line items on invoices although at this time it’s not possible to enter a 0.00 invoice; also see Stephen’s comment re credit note.

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