Overview
Let’s say you have a product with an initial setup fee and then a monthly recurring charge. So far, you have not been able to use a single invoice to let the customer pay for both and had to rely on 2 invoices. Not anymore.
What’s New?
– You can now add a recurring product > add a setup fee to it in its prices > Add it to a recurring invoice -> 2 line items for the same product (One with Setup fee and the other with recurring price) would appear
– For subsequent invoices, the setup fee line item will be removed and only the recurring part of the price will be sent out
How to Use?
– Go to the Product section and create a product with price type = recurring and add a setup fee to it
– Create a recurring invoice from the invoices section
– Add the product that has a setup fee in it
– 2 line items for the same product will be shown with the Suffix “Setup Fee” added to the setup part of the price
– For all subsequent invoices that are auto-generated as per your schedule, will only have the recurring element of the price.
Why did we build this?
– For all service providers where a signing fee was to be collected along with monthly recurring charges, this feature would make invoices super useful to them