New Product Update – Invoices: We Now Support Setup Fee in Recurring Invoices
Overview
We’re excited to announce a significant enhancement to our invoicing system. You can now include an initial setup fee alongside a monthly recurring charge in a single invoice. Previously, you needed two separate invoices for this, but not anymore.
What’s New
- Single Invoice for Setup and Recurring Charges: You can now add a recurring product with a setup fee to a single recurring invoice. This update simplifies billing by generating two line items for the same product: one with the setup fee and one with the recurring price.
- Streamlined Future Invoices: For all subsequent invoices, the setup fee line item will be automatically removed, leaving only the recurring charge to be billed.
How to Use
- Create a Product with a Setup Fee:
Go to the product section, create a product with a price type set as recurring, and add a setup fee.
- Generate a Recurring Invoice:
Create a recurring invoice from the invoices section.
- Add the Product with a Setup Fee:
Add the product that includes a setup fee into the recurring invoice.
- Two Line Items Appear:
Two line items for the product will be displayed, with the suffix “Setup Fee” added to the setup part of the price.
- Future Invoices:
All auto-generated invoices will only include the recurring element of the price.
Why Did We Build This?
This feature addresses the need for service providers to collect a signing fee along with monthly recurring charges conveniently. By consolidating these into a single invoice, the invoicing process becomes more efficient and user-friendly.
Stay tuned for more updates and improvements. In the meantime, check out our previous product announcements to stay informed about the latest enhancements.
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