What's a recurring purchase, and why is it used?
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1) Recurring purchase invoices
A recurring purchase invoice is an invoice that is received repeatedly from the same provider for a certain period of time.
There are suppliers that offer services or products that bill their client every month, quarter, semester or year for the same amount and products. For example, supply companies, rentals, marketing agencies, consulting or companies that offer any type of service.
In Holded you can create recurring invoices and you only need to create these once and invoices will automatically be generated every month. So you don't have to do it manually.
Draft future invoices: A recurring purchase is NOT an invoice yet. It's a "template" that allows you to convert it into an invoice every month, quarter or year. This will save you from re-creating the invoice manually. It will be very useful for example if you have providers that offer you monthly services. The recurring purchase will only be sent if you check the box auto create and send from the document editor.
2) What is a recurring purchase invoice for?
* Automatically convert and send: When creating the recurring invoice, activate the option of automatic sending so that when you arrive at the date of issue the invoices are created and sent to your suppliers automatically. (* this option is more suitable for sales)
Create recurring purchase invoices will help you not have to create the same invoices to the same contacts manually every month, quarter or year.
When you create a new recurring invoice you can determine when it will be issued:
- Interval: It will mark how often invoices will be issued (Daily, Weekly, Biweekly, Monthly, Bimonthly, Quarterly, Biannual, Annual)
- Start: Date on which the first invoice will be issued
- End: Date when bills will stop issuing
With this information you'll have invoice templates already filled in that you can convert into real invoices in 2 ways:
- Manually: When the issue date arrives, you can check the recurring invoices pending conversion to real invoices and click on the convert button .
- Automatically: Arrival the date of emission the invoices will be created and will be sent by email automatically to your suppliers. (* this option is more suitable for sales)
In summary, the recurring invoices will allow you to save time since you will not have to manually create the invoices of the same suppliers each month and with the same information.
Now that you know what the recurring bills are for, we'll show you how to create them in the next article.