¶ How to Create, Manage, and Void Invoices
Utilizing the tools available within LeadMagicX, you can generate invoices for your customers and clients. You can manage their statuses efficiently, including voiding them and handling refunds. This guide ensures that you seamlessly capture your payments, manage invoices, and understand the intricacies of voiding and refunds. Let’s delve right in.
¶ Part 1: Creating and Sending an Invoice
¶ Set Up Your Invoice
- Navigate to Payments on the left > Invoice & Estimates at the top and select the All Invoices tab.
- Click +New to begin crafting your invoice.
- If desired, click the settings icon to modify the sender name on your invoices.
NOTE: You can add general notes to the invoice using the settings icon near the “New” button.
¶ Personalize Your Invoice
- Under Business & Customer Information:
Click on the pencil icon to add your business information.
- Click on “Business Logo” in the blue box to Select a File to upload your logo to the invoice.
- Press Select Customer and select which of your existing clients you want to send the invoice to, or create a new client by clicking on + Add Customer
- The Client’s information will auto-populate on the invoice preview on the right side.
- You may also edit the client’s information by clicking on the three dots next to Customer Information and adding the information you wish to show on the invoice.
Under Add Products:
- Press + Add Product to select the product(s) that your client will be billed for
- You can edit the price and quantity once the item is selected by clicking on these parameters when they appear
NOTE: Remember, to invoice a product, it must already exist in your product list. For guidance on setting up new products, refer to our product tutorials.
- Invoice descriptions support text formatting, allowing you to add bullets, bold text, and more for better clarity.
- Choose the “add discount” icon when creating or editing an invoice to apply a markdown to your invoice.
- You may also add a $0 Amount to an Invoice by using the discount option. To do so, either add a 100% discount or add a custom discount amount equal to the full price of the product to bring the total to $0.
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Add Payment Schedule:
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Allows for upfront deposits and breaking payments into separate installments.
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Payments can be set by percentage or fixed amounts.
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Specific dates can be assigned for different payments.
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Users can change the payment schedule at a later date.
An example is shown with two payments: one paid and one pending.
Under Additional Options:
- Press Add Notes/Terms at the bottom of the invoice section to add any notes or terms that you want your client to see on the invoice.
- Additionally, Users can attach up to 10 files , with a totalsize limit of 20MB , to estimates, invoices , and recurring invoices. Attachments offer flexibility for users to include important documents like terms, specifications, or visuals directly with estimates or invoices.
- The attachments will be included in the email sent along with the estimate or invoice.
Note: Attachments are sent only with the initial email when the estimate or invoice is first sent, not with the ones that are subsequently scheduled.
¶ Delivering Your Invoice
- The three-dot menu will allow you to view a preview or record a payment
- Upon finalizing the invoice details, use the Send button in the top right to dispatch your invoice.
- If you opt to send it via another medium, choose**“Copy and Mark as Sent”**.
- Upon clicking “Send” , a popup facilitates the choice between dispatching the invoice via either email, text, or both.
- In “Additional Options” , you can toggle between test and live payment modes.
- If invoice sending fails due to template issues, specific error messages will be displayed to inform you of the problem.
- Within an invoice, click the three-dot menu to select “Record Payment.” You can either charge a card (entering new card details or using a saved one) or manually record a payment made through other methods (e.g., cash or check).
¶ Monitoring Invoice Status
- Return to the Invoices tab to view an overview of your invoices.
- The “Status” column details the current state of your invoice, be it draft, paid, or due within a specific timeframe.
- Apply filters by status or date to refine your search. Alternatively, the Transaction tab stores invoice data and you can download the data from the invoices area as well.
NOTE: Navigate to Payments > Transactions to review both successful and failed transactions.
¶ Support for Custom Payment Providers on Invoices
Businesses can take advantage of several features when using custom payment providers for invoice transactions. These include payment schedules, partial payments, tip inclusion, and automatic late fee calculation, enhancing flexibility and control over invoice payments. This allows businesses to manage payment history and outstanding balances seamlessly.
Benefit : This feature provides greater payment flexibility, enabling businesses to offer tailored payment options to customers while tracking payment history efficiently.
How to use it :
1- Navigate to Payments > Invoices & Estimates.
2- Enable scheduled payments and track partial payments for invoices.
3- Allow customers to add tips during payment (if supported by the provider).
4- Manage late fees automatically when payments are overdue.
¶ Part 2: Invoice Settings Tab
¶ Ability to define custom invoice Titles and formatting Terms/Notes
- You have an option in the invoice settings to define a custom title and the terms/notes for the invoice which appears at the top right of the document
- The title and notes are by default INVOICE and case-sensitive
- They can no longer be 25 characters
- The specified text will appear in any new invoice that gets created after changing the title
¶ How To Incorporate Taxes to Your Invoice
- Select the “Settings” tab > Taxes.
- Press “Add Tax” or “Create Tax” and in the ensuing popup, provide details like Tax name, rate (as a percentage), a brief description, and the Tax ID number if applicable.
¶ Late Fees on Invoices
Late fees can be attached to invoices, allowing you to apply charges for delayed payments. This is accessible both globally across all invoices and individually at the invoice level. You can customize the settings with options like grace periods, intervals, and maximum charges to suit your specific billing needs.
Benefit: Implementing late fees encourages timely payments while offering flexibility in managing different invoice scenarios.
How to Use It:
- Configure global late fee settings by navigating to Invoice Settings > Payments.
- For individual invoices, turn on the “Late Fees Configuration” option in the top right of the invoice. It will initially take the global settings, which you can adjust as needed.
Special Requirements/Limitations:**
**Late fees apply only after the invoice due date or payment schedule deadlines are missed. Customers are notified via email when late fees are charged.
¶ Bank-Only Transfers for Invoices
The support for bank-only transfers (ACH and SEPA) in the invoicing module, offers businesses more control over payment methods, reducing processing costs, and improving client convenience.
Users can globally configure default payment methods or customize them per invoice for tailored collections.
How to Use:
1- Configure global settings via Payments > Invoices & Estimates > Settings > Payment Settings.
2- Customize payment methods for individual invoices by selecting “Manage Payment Methods” from the invoice menu.
Note: Supported for ACH and SEPA transfers through Stripe; only available for invoices in supported currencies.
¶ Part 3: Guide to Voiding Invoices and Managing Refunds
¶ Voiding Sent/Overdue/Paid Invoices
Businesses can conveniently void sent, overdue, or paid invoices, addressing the common challenge when a client discontinues midway between a scheduled recurring template, leaving unpaid invoices. Voiding these invoices rectifies any misalignment with payment stats.
- For invoices already settled (via card payments or recorded manually), remember to process a full refund before voiding them.
- Locate the desired invoice.
- Click on the three-dot menu for options.
- Select “Void”.
NOTE: Once voided, an invoice cannot be reinstated.
¶ Processing Refunds
Navigate to Payments → Transactions. Choose the Refund action available under the three dots corresponding to the successful transaction. This area displays all refund attempts, both successful and failed, for that transaction. You shouldn’t need to access the payment provider dashboard separately.
- There is flexibility in either fully or partially refunding manual payments recorded on invoices.
TIP: Always double-check refund amounts and details to avoid discrepancies.
¶ Managing Voided Invoices
- By default, voided invoices remain hidden in the list view. However, a dedicated Void filter in the Payments > Invoices section can retrieve them.
- To locate a voided invoice, click on the Filters button, choose Status , and then pick Void from the dropdown list.
- Voiding an invoice has no bearing on the invoice statistics displayed on the invoices list page. Furthermore, comprehensive audit logs are maintained for all void, delete, and refund operations.
To void an invoice, simply navigate to Payments > Invoices. Click on the iconic three dots, choose void , and upon the confirmation prompt, select void again.
Remember, whether successful or failed, every transaction is easily accessible under Payments > Transactions. Dive into LeadMagicX and experience streamlined, effective invoicing.
¶ Record Backdated transactions
Users can add back-dated payment dates when recording manual payments. Align the transaction records with the actual payment date. This improves the precision of financial tracking.
- Select the invoice for which you wish to record a payment, add the payment date, and view the transaction marked as paid on that specific date.
¶ FAQ’s
Question: How do I set up and manage late fees on invoices?**
**Answer: You can configure late fees globally under Invoice Settings > Payments, which will apply to all future invoices. For specific invoices, turn on the “Late Fees Configuration” option within the invoice, where you can further customize grace periods, intervals, and maximum fees.
Question: Can I use payment plans for invoices?**
**Answer: Yes, you can set up payment plans to break payments into installments or request upfront deposits. Payments can be configured by percentage or fixed amounts and scheduled for specific dates.
Question: How do I void an invoice?**
**Answer: To void an invoice:
Navigate to Payments > Invoices.
Locate the invoice, click on the three-dot menu, and select “Void.”
Confirm the voiding process when prompted.
Question: What happens when I void an invoice?**
**Answer: Voiding an invoice removes it from active statuses but does not delete it. You can still access voided invoices by using the “Void” filter in the Invoices section. Once voided, an invoice cannot be reinstated.
Question: How do I issue a refund for a paid invoice?**
**Answer: To issue a refund:
Go to Payments > Transactions.
Locate the transaction and click the three dots to select “Refund.”
Choose to refund the full amount or a partial amount.
Question: Can I track invoice statuses and transaction details?**
**Answer: Yes, you can track invoice statuses (e.g., draft, paid, overdue) in the Invoices section. Transaction details, including successful and failed payments, can be found in Payments > Transactions.
Question: How can I retrieve and manage voided invoices?**
**Answer: To view voided invoices:
Go to Payments > Invoices.
Click on the Filters button, select Status , and choose “Void” from the dropdown list.
Question: Are audit logs maintained for voided and refunded invoices?**
**Answer: Yes, comprehensive audit logs are kept for all void, refund, and delete operations, ensuring transparency and tracking for financial actions.
Question: How many files can I attach to an invoice and what is the maximum file size?**
**Answer: You can attach up to 10 files per invoice, with the total size for all attachments combined not exceeding 20MB.
Question: Can I include attachments with my invoices?**
**Answer: Yes, you can attach up to 10 files with a total size limit of 20MB to invoices. These attachments will be sent along with the invoice in the initial email but not with subsequent scheduled emails.
Question: How do I handle a customer who wants to pay half now and half later?
Answer: Use the Payment Schedule feature. When creating the invoice, you can split the total into installments. You can set the first 50% as a “Deposit” due immediately and schedule the remaining 50% for a future date.
Question: If I refund a payment in the “Transactions” tab, does the money go back to the client automatically?
Answer: If the original payment was made via a Live Credit Card (Stripe/NMI) , yes—the refund is processed through the gateway back to their card. If the payment was Manual (Cash/Check), the “Refund” action just updates your internal records to show that you gave the money back; you still need to physically return the cash or check.
Question: How can I ensure my financial records are accurate if a customer pays me in cash before I record it in the system?
Answer: You can use the Record Backdated Transactions feature. When recording a manual payment (like cash or check), the system allows you to select the specific date the payment actually occurred. This ensures your transaction history reflects the real-world payment date rather than the day you entered the data.