Recurring invoices are invoices that are sent in an automated manner per period of time. These invoices are used by companies that charge their customers for their services on a regular basis using a billing system that allows these adjustments to be made at the time the customer accepts the service and signs the contract.
The advantages of periodic and recurring invoices are:
- Time Savings
With this invoicing system you can simplify the task of creating invoices every month or period of time. With a good invoicing system you can schedule invoices to be issued on a monthly, bi-monthly, quarterly or annual basis.
- Minimise Risks
The system itself will issue invoices for the configured period interval, thus avoiding human error and allowing the system to take care of issuing them without missing any information, such as: the contracted service information, the monthly amount of the service, updating the billing month or year, or the invoice number.
- Customer Loyalty
The likelihood of penalty charges on overdue bills is reduced, and payments by customers become more convenient. Giving them the opportunity to organise themselves financially, and make payments in the due period.
- Updated data
Each invoice that the invoicing system issues will come with the date, month and year updated, i.e. if you create an invoice on 01/12/2020 and configure the invoice to be issued monthly, the following month the system will invoice on the same date. On the other hand, the system will keep a sequence of invoice numbering, so it also updates this information for registration in the system.
- Simplified Cost Control
Recurring invoices within a management system offer agile cash flow visibility, providing the possibility of predictable cash flow by visualising future cash inflows, thus not only simplifying cost control but also simplifying decision making.
Systems such as InterFuerza have incorporated this functionality, making it easier for the company to issue invoices automatically and periodically so that they can be sent to its customers. This programming was designed to simplify the work and processes in the invoicing to customers, allowing to take advantage of the invoicing time and minimise the human risks that could hinder the process with the information updated and registered in the system.