As I work with clients who are using Kashflow, I realise that there are several important features in Kashflow that clients often don’t know about. I am going to highlight some of these in posts over the next period. Some of them may be useful to you.
Kashflow Repeat Invoicing features.
If you have a customer where you have an agreement to invoice regularly over a period, you can set up a repeat invoice. For example, I have a client where I provide a monthly management accounting service. I have a repeat invoice set up that is created monthly. The system sends me a reminder to let me know that it has created the invoice and I just hit the email button to send the invoice out.
To set up a repeat invoice, go into Sales, then into repeat billing – one of the four buttons above the list of sales invoices.
Kashflow has a projects feature that allows you to assign sales invoices and costs to projects. Some businesses are project based and this allows them to track profitability by project. Even if you are not project based you could use this for departments or you could use it to track costs by vehicle or by individual.
I have a client who produces tv programmes and uses this feature to track costs by programme. I have another client who carries out consultancy projects for clients and uses the feature to track outlay costs (eg. travel) by project for reinvoicing.
Typically, most businesses will receive a payment for each invoice they issue or they will make a payment for each bill (receipt) that they receive. However, some businesses might have a number or smaller invoices or bills (receipts) that are paid together. In this case, instead of going into each invoice and adding a payment, you can use the Kashflow Bulk Payment options. On the Sales or Purchases tab, choose the Bulk Payment button on top of the page. This lets you mark multiple invoices as being paid with one payment.
That’s enough for today. Over the next while I will highlight some other features that you may not know about. If you have any questions, be sure to let me know by emailing me at jim (at) accountsplus (dot) ie.