Invoice vs. Quote
If payments can be accepted in a quote is there a reason to create an invoice? Can't all payments be applied directly to the quote. Besides the ability to create another project element with statuses, workflow, etc..and integrate with QB (which we don't use), what other reasons are there for invoices.
Do you have any articles or videos on this topic?
Thanks Jay
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Hi Jay-
Some reasons that people use invoices:
- To export to Quickbooks or other accounting software as you mentioned.
- There are changes in what is being charged between the quote and invoice. Additional labor, lost gear, etc. And they want to retain the quote as is.
- A standalone invoice for lost gear or a sale
- As a legal receipt. Here in Australia an invoice must be issued and must include certain information to be considered as a record of payment.
- Issuing a single invoice for an event which encompassed multiple quotes. For example a festival with multiple stages - 1 quote per stage but 1 invoice for the whole festival.
If your business doesn't require the use of an invoice and a quote will do everything that you need from a financial document, then I wouldn't worry about it.
Hope that helps!
Cheers,
Bigs
Endorsed Flex Consultant / Custom Report Developer
bigs@squarewave.com.au
www.squarewave.com.au
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