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mInvoice - Workflow Guide

mInvoice is designed with a specific set of invoicing workflow. A good understanding of the workflow is key to successfully utilizing the software.

Additional online help can be found below:

Workflow Guide

There are several workflows that you should be familiar with before using mInvoice.  We think these are pretty straightforward and they follow traditional invoicing cycles.  Please make sure you review these before using the software.

Main Workflow

The main workflow includes some setup functions.  It's important that you do the following before getting started with Quotes and Invoices.

1)
Setup your preferences.  The key here is the company panel on the Preferences screen. You should enter the data about your business including uploading a logo and signature.  mInvoice will use a default logo if you don't update one of your own. Signatures will be blank and you should sign the paperwork manually.   If you plan to create quotes and invoices in multiple currencies, you should also add currencies on the currencies panel.  Finally, you should validate the default settings in the default lookup lists on the defaults panel. This would include creating any tax records and updating payment terms.

2) Add Customers.  You should actively manage your customers list. Customers are important as the shipping and billing information on the reports will be missing if you don't specify the customer when creating quotes and invoices.

3) Add Products.  You must add products. Otherwise, you will not have any details to add to your quotes and invoices. mInvoice does not allow you to create products when you are adding quotes and invoices.

Once Setup is complete, you can create quotes and convert them to invoices. Alternatively, you can create invoices directly. Choose the method that best fits your business.

Once you have created an invoice, you should follow the Invoice Workflow described below...


 Invoice Workflow

The invoice workflow handles the creation and processing of invoices.  

This begins by creating a new invoice manually or by converting a previous quotation to an invoice. Once this is done, you should ship products or delivery services as currently performed in your business. Following this, you should mark your invoice as "RECORDED" and print/send/email your invoice to your customer.  

Note that the payment terms that you specify for the customer and on the invoice start from the date that the invoice was RECORDED. If you have 15 day terms, then the invoice is "DUE" 15 days after you mark the invoice as RECORDED.

After you send the invoice to your customer, you follow the Payment Workflows below.


Payment Workflow 1


 If all goes well, your customer will send you payment within the payment terms that you specified on the invoice.  

To acknowledge a customer payment on the invoice you would use the "Enter Payment" function for the invoice that you received payment for.  If the invoice is now complete and all payments have been made, you should update the status of the invoice to COMPLETE.


 Payment Workflow 2

From time to time you should review the aging data for all outstanding invoices.  The easiest way to do this is to filter the invoice list by Balance and look for all invoices that are "Late".  This gives you the information that you need to followup with outstanding customers by utilizing Payment Workflow 3 below.  You can also run the Invoice Aging report.


 Payment Workflow 3


In situations in which a customer is late in providing you with payment you can produce a couple of reports to send to them. The first is the Outstanding Payment report. This lists the invoice lines along with any partial payments that have been made. This report shows the customer what is outstanding. Along with the Outstanding Payment Report, you should also run the Payment Reminder report. This is letter format and asks the customer nicely for remittance.