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Customize invoice for Accounting

hi everyone in this video I'm going to show you how to create invoices in Wave Accounting this is a free accounting software and you can just go to wave apps.com and set up your [Music] account before we get into creating invoices I just want to point out a few things first of all on this main dashboard screen you can scroll down and here's a link to customize your invoices you can add your logo you can change the colors and there's other settings in here as well that you can edit I'm just going to scroll through so you can glance at it I also want to point out at the top here it says you can edit your contact information address website phone number and things like that right here if you click on your profile and one other thing that I want to point out is that you can set up payments in wave apps what this is going to do is allow you to invoice your clients and they can pay with a link on the invoice itself using a credit card a bank account or even Apple pay so if you want to set that up you would just click here on get started and you would enter your personal and business information in the website and it would help you through the process to set it up if you scroll down to the bottom of this page it does give you the cost of this and it's a percentage or a percentage plus a small fee depending on which payment method the customer uses and I just want to say that it's been a few years since I've worked for a customer that used wave apps and used the payment processing within wave apps so I can't really speak on whether it's good or bad or anything like that but I just wanted to point this out so that you know that this option is available to you within this software before we get into invoicing I just want to show you or tell you that you should go to your chart of accounts over here under accounting and just make sure the income account or accounts are what you want in your business I have this sample company set up as a service business and I just have one income account called service income you may call your income account something different for example you might call IT consulting income or if you're a Consulting business or legal fee income if you're an attorney and so on you don't necessarily have to call it what I call it different companies use different names here and there's nothing wrong with that or you may have more than one income account if you have several different types of income or several different types of products and services if you have a blend of things that you sell then you may have multiple accounts here here but the main idea is that you want to check this before you get started and make sure you have what you need here and then once you have your chart of accounts ready then you would come to the products and services page to set up your items that would go on the invoices now I have some set up already in this sample company I have some different hourly rates and a general hourly rate without a price attached if you leave this zero then you would put the price into the invoice directly or if you use one of these prices with something filled in that is going to be brought into the invoice so you could have several items here just depending on your business and depending on how many different products and services you sell I'm just going to add one so you can see what the process looks like I'm going to add something for maybe monthly flat fee services and I'm not going to put a price because I'm going to assume that my rate is different per customer or per situation and I would choose sell this to allow this product or service to be added to the invoice and then I need to tell the software what income account to attach this to this is what account it will post to when I create an invoice using this item I'm not going to do anything with the buy this section because I'm not going to be adding this to vendor bills and I don't have sales tax set up but if you need to collect sales tax you would need to set that up and then save and that's all there is to it most companies have a lot of different products and services that they sell so a lot of companies would have several items here and then once you have your products and services set up then you would create any customers I already have a few customers in this sample company but I'm going to go ahead and add a test customer I just want to give you an idea of what this looks like there's a lot of different fields for you to put information into so how much or how little information you put in here is just going to depend on your preference and you will need to put an email address in here if you want to email invoices to your customer and then now that I have my customer set up I'm going to create my invoice so I would just go to invoices up here in the top right corner you can see a an icon to create an invoice I would add the customer here if I want to change the invoice number I can do that here if I want to this just automatic automatically populated from the software but you can change this if you want you can change the invoice date it automatically populated with today's date and you can also change the terms or the payment due date this prepopulated with a 15-day due date but I can change this right here if I want to the reason it prepopulated with 15 days is because that's what I have in my invoice settings and then down here I would just add my items based on what I was billing the customer for let's just say I want to build for a couple different things here let's say I did some cleanup work or something like that for $75 an hour you can add a description if you want if you want to add any extra details or more specifics I'm just going to put cleanup work here because this is a sample in real life though I would probably put more information here and then I could change the quantity it's $75 an hour which was prepopulated because I used the $75 hourly fee that I had set up but you can change the quantity here and then I can add another one if I want let's say I also want to bill for monthly Services I would have to add the price in there because it was not preet up and that's all there is to it I I can preview this I can add not notes that are visible to the customer if I preview it it's going to show me what the actual invoice is going to look like on the customer side and then I can go back to edit so I can toggle between preview and edit and then once I'm done I can just click on Save and continue now notice that it is still a draft and I actually have to approve this draft if I had payments set up I would need to turn that on or make sure that was turned on I'm just going to go ahead and approve this draft and it does give me this popup to turn payments on as you can see here there are some options for automatic reminders either after the due date or before the due date so you can change anything you want here as well and then if you want to go ahead and record a payment for example if you already have a check in hand or cash in hand you could go ahead and record the payment now and send the customer receipt that way you can actually also go ahead and charge a credit card here if you have payments set up I'm just going to go ahead and send the invoice unpaid as is so we can see what this looks like it automatically filled in the customer's email address you can add a recipient recipient here if you want to add an additional email address it's going to automatically populate with the invoice number from the name of your company and you can type a message in here as well you can copy yourself and you can choose to attach it as a PDF which I am going to do so you can see what that looks like and then all you have left to do is send and here I am in the email address see so you can see what this side looks like the customer can click on the PDF because I did choose that option when I was sending it or they can just click here and view the invoice if I had payments turned on there would obviously be an option for the customer to pay through the email or through the invoice and then I just want to point out a few more things I can make this recur if this is a monthly invoice so I'm just going to click on that so you can see what it looks like there are some options yearly monthly daily or some other custom option and you can see that I can change the date and so on I can tell it when to end and that's all there is to it if you want to see previous invoices you've sent you would just go back to the invoices screen it defaults to your unpaid invoices you can go to all invoices or drafts there are options here you can record a payment you can click on this down arrow to edit duplicate send a reminder and so on so there's a lot of things you can do from this screen you can also search for invoices for specific customers or certain dates and things like that so I hope you found this video helpful if you have any questions feel free to comment below and thank you for watching