Settings > Invoice & Payment Settings
What are payment schedules? Payment schedules are basically payment terms that you apply to your invoices. When you apply a payment schedule to an invoice, the total amount owing will be divided into several payments due at different times.
What are payment reminders? Payment reminders are automatic emails that are sent to your clients before invoice are due and also when they are overdue.
What are payment receipts? By ticking a box Studio Ninja can automatically send a receipt email and PDF to your clients when invoices are paid (or partially paid).
What is the Invoice ID format? Customise your Invoice ID rule which will pre-fill the Invoice ID field when you create new quotes and invoices. You can choose between Date format (automatically chooses today's date) or Letters & Numbers format (automatically increases in sequential order).
How to create your first payment schedule
Payment schedules are a great way to quickly and easily divide your invoices into several payments due at different times. To create a new payment schedule, click the green 'Add new schedule' button.
Now you can give your payment schedule a name and add different payment rules. In this example you can see I have created:
- First payment / Deposit = 25% of order due 7 days after invoice date
- Next payment = 100% of remaining balance due 14 days before job date
IMPORTANT: It's always a good idea to make your last payment = '100% of remaining balance' so there is no chance of having any outstanding balances left over.
How to apply a payment schedule
Once you have created your payment schedules you are now ready to start assigning them to your invoices.
When creating invoices, you will see an option that asks "Do you want to assign a payment schedule to this invoice", simply click the drop down menu and select the payment schedule that you would like to use.
You will now see several payments due at different times.
How to set up payment reminders
Payment reminders are a great way to automatically remind your clients when their invoices or payments are due, or overdue!
All you need to do is tick the boxes and input the days of when you would like the automatic payment reminder emails to send.
In the example above, you can see that the payment reminder email will send 7 days before the invoice is due, on the day the invoice is due, 7 days after the invoice is due, and then every 7 days after that until the invoice is paid.
We have pre-written the email message for you, but feel free to change the message any way you like to sound more on brand with your business.
IMPORTANT: Do NOT remove the link that says "Please click here to view and pay your invoice online". This is the link your client will use to visit the Client Profile page and pay your invoice.
How to setup automatic payment receipts
Enabling automatic payment receipts is a great way to save you time and take out any chance of human error double handling or potentially forgetting to do it yourself.
Tick the box that says "Automatically send receipts after credit card payments have been processed".
We have pre-written the email message for you, but feel free to change the subject text and/or message text to sound more on brand with your business.
IMPORTANT: Do NOT delete the link that says "Please view your updated invoice online by clicking here". This is the link your client will use to view the updated invoice in their Client Portal.
From this point on, whenever your client makes a credit card payment either by Stripe or PayPal, Studio Ninja will automatically send them an email with a link to their updated invoice in the Client Portal and a automatically generated PDF receipt!
How to set up a sequential Invoice ID
Setting this up is a great way to create a unique Invoice ID on every quote/invoice you send. This is to help you, the client , or your accountant to track down specific invoices.
By default, the 'Date' option is selected. The system automatically adds the date when the invoice was created which follows the YYYYMMDD format. A suffix will be added after the date (YYYYMMDD - 02) when creating more than one invoice on the same date.
Alternatively, you can select the "Letters & Numbers" option and set any string of numbers and letters you want to use.
Letters are optional but you can set up to 10 (ten) letters, and the maximum number of digits you can set is 6 (six). You can also set which number the Invoice ID starts from.
For reference, here are different approaches to create an Invoice ID:
- with letters and numbers, for example SN00001, INV00002, QB01256
- using numbers only, for example 0001, 00128, 3987, 421