A recurring purchase invoice is an invoice that is received repeatedly from the same supplier over a given period of time.
There are suppliers that offer services or products that invoice their customers 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 will be able to create recurring invoices only once, and the platform will automatically generate invoices every month or specified period of time without you having to create them again manually. The only thing you will have to do is to add the PDF of the actual invoice.
Drafts of future recurring purchases are not real invoices yet. They are templates that allow you to convert the draft into an invoice, officially, every month, quarter, or year.
What can you do with recurring purchases?
1. Issue invoices automatically
When creating a recurring invoice, we suggest you activate the automatic sending option so that, when the issue date is reached, the invoices will be created and sent to the suppliers automatically. Learn here how to create recurring purchases.
Creating recurring purchase invoices will prevent you from having to create the same invoices to the same contacts manually every month, quarter, or year.
When you create a new recurring invoice, you will be able to determine:
- Interval: It will determine how often the invoices will be issued (Daily, Weekly, Fortnightly, Monthly, Bi-monthly, Bi-monthly, Quarterly, Semi-annual, Annual).
- Start: Date on which the first invoice will be issued.
- End: Date when invoices will no longer be issued.
2. Convert templates to actual invoices
Learn here how the conversion process works
You can convert templates to actual invoices in two ways:
- Manually: When the issue date arrives you can check the recurring invoices pending conversion to actual invoices, and convert them manually.
- Automatically: When the issue date arrives the invoices will be created and sent by email automatically to your suppliers.
Read this article to find out everything you can do with a recurring purchase invoice