Invoicing: Overview

TaxDome can help you keep all your invoicing inside the portal. You can issue invoices, accept payments online, keep track of payment records, bill time and more. In this guide, you will find all initial info on how to set up and use invoicing in TaxDome.

Tip: Download this simple checklist to track your progress in learning and implementing TaxDome invoicing features!

Do the initial setup

Before you start billing your clients, you need to do the basic setup:

• Connect to a payment service provider: This lets your clients pay securely within the porta either with Stripe, CPACharge or both.
• Sync your portal to QuickBooks Online: It helps you to seamlessly send all invoices and payments you need from TaxDome to QuickBooks.
• Add the services: You can add the services you offer clients and use them as templates for billing. If you already have some in QuickBooks Online, you can transfer them to TaxDome in one click.
• Set up a default tax rate: Include taxes in your invoices automatically.
• Configure the overdue period: Gain control over the period after which invoices are considered overdue.
• Select the first invoice number: If you use the QuickBooks Online integration, you can select the first invoice number so that invoices are not duplicated when sent to QuickBooks.
• Customize invoices: Configure how PDF invoices look for clients.

Start billing your clients

Once set up, you can start using TaxDome to bill your clients. Explore the main billing features:

• Issue invoices: Add the services performed and send invoices to clients.
• Create invoice templates: Pre-fill invoices data and send them in one click.
• Set up automatic reminders: Make sure clients don't miss invoices and don't forget to pay you.
• Add discounts: Boost your sales by including discounts in invoices.
• Process offline payments: Even if your clients pay via cash or outside TaxDome, you can record their payments in the portal.
• Enable prepayments: If you want your clients to pay in advance, you can allow them to make prepayments.

Send proposals with invoices

It's a good idea to start your joint journey with your client with a proposal which outlines all terms and either includes price list for all services or even invoices ready to be paid along with signing the proposal.

• Review the proposal flow: Check all settings and explore what your clients see when they read and sign proposals.
• Create a proposal template: Include the essential information about your firm and terms, so that it could be easily adjusted for each client group.
• Include your pricelist, ask for a deposit or initiate subscription-based services: If your clients accept the proposal, it can trigger an invoice that will be issued once a time period.
• Set up automated reminders: Ensure your clients don't forget to sign a proposal.

Automate the invoicing process

The best thing about working with invoices in TaxDome is that you can automate it and be confident there are no mistakes in your billing. Here is what you can do:

• Lock documents to invoices: Your clients will be unable to open or download a document unless they pay an invoice linked to it.
• Bill for recurring services: If you offer subscription-based services like monthly bookkeeping you can use recurring invoices. These are a series of one-time invoices issued automatically on a given schedule. 
• Automate invoices in pipelines: In pipelines, you can set up an automation that creates invoices when jobs reach certain stages. Once the invoice is paid, the job may be automatically moved to the next stage triggering the further automations.
• Automate proposals: In pipelines, you can set up an automation that will send proposals to your clients without your involvement.

Learn best practices for efficient invoicing

In addition to your main billing-related workflows, you may have some other scenarios that are important to handle:

• Make changes to invoices: Keep your financial records accurate.
• Edit recurring invoice schedule: Adjust the general schedule or details of particular invoices inside a recurring series.
• Handle overdue invoices: Be notified about the unpaid invoices and follow up with payment reminders to resolve any payment issues.
• Unlink unprocessed payments: If a payment is stuck, you can unlock it from the invoice so clients can pay it again.
• Make refunds: No matter of payment type, you can process a refund making sure your records are accurate.
• Reward clients with credit notes: You can add credit notes to your loyal clients, and they can use them later to pay invoices.

Track and bill time

Time tracking features in TaxDome help you bill your clients accordingly to time spent on them. With integrated time tracking, you may be sure that every hour worked is billed properly.

• Track time: Every team member can start the time tracker when working on a job or task. After they finish the work, a time entry will be created. it's also possible to add time entries manually and track time for any activities.
• Bill time: Create an invoice from one or more finished time entries and send it to your client.
• Clear out the WIP: Conveniently send an invoice to your client for all the time entries over a time period.

Analyze time spent and plan capacity

Time tracking goes further than billing your clients, since it helps you create a transparent work environment. Having all accumulated data, you can pay your employees based on the time worked, analyze their performance, manage team capacity and more.

• Work with the Time utilization dashboard: Measure your team’s performance and prepare employees' payroll.
• Plan and analyze job budgets: Compare the the time allocated for a job versus the actual time spent and analyze time variance.
• Manage your team capacity: Be sure to analyse your team weekly capacity to monitor productivity and balance workloads.

Academy: Do you want more hands-on training on all the topics above? Then, you can explore our set of courses dedicated to invoicing in TaxDome.