Best Way to Pay Down a large invoice?

CAScreatorCAScreator Member Posts: 3

I'm a new Wave user working for a construction company. We ask for a 20% deposit, then a 50% on day 5, 25% on day 10 and balance on the final day of the project. Because the payment due dates are based on work done, the dates need to be adjustable, and obviously the amount changes too. What is the best way to create an invoice for this?

Tagged:

Comments

  • JordanFromWaveJordanFromWave Administrator Posts: 118 admin

    @CAScreator I'm afraid that Wave's invoicing product currently doesn't support deposits or partial payments very well. What I mean by this, is that while you can pay the invoice in parts, there is not a streamlined way to send updated invoices with the amounts due. The best way to let your customer know of these due dates would likely be to use the "notes" feature of the invoice and include the due dates and amounts due. Then when you receive the payments, you can add the payment to the invoice to bring the total down.

    Alternatively, the more streamlined way, may be to create separate invoices for each of the amounts due. This will allow you to track each payment and send the invoices on the appropriate due date, and have a good idea of which invoices are overdue.

  • CAScreatorCAScreator Member Posts: 3

    Thanks Jordan. I think the notes option is probably my best bet for now.

Sign In or Register to comment.