Create Your Perfect NetSuite Invoice Template for Facilities

Netsuite invoice template for Facilities

hi and welcome to this video where we will be discussing how to invoice customers on netsuite first of all we'll start by looking at the elements used on an invoice for example we'll look at the customer record the item record the vat and then we'll move on to finding out how to set up the transaction form so that your invoices are printed correctly or maybe even sent by email in the right html template finally we'll be running two processors for the invoicing in manual one and an automatic one based on existing sales orders and bidding schedules now when you invoice a customer you have to ensure that it's done at the right time with the right quantities of the right products at the agreed price with the right currency with the right credit terms and you have to also ensure that the customer doesn't have open cases and issues with you and that the person doesn't have a credit limit that's been reached so taking care of all this information can be quite stressful because if you get any of these wrong then you could run into serious business where you might never be paid or maybe the customer is going to lose faith in your ability to invoice them correctly and i'm just gonna move on to a competitor so let's see how invoicing on netsuite is done the correct way so let's begin with the actual dashboard you know you're gonna have your dashboard set to make you save a lot of time in running your operations we're using reminders so that we don't have to go through the whole erp to find out what it is we need to do a network is telling us here very easily that there are 20 items to order if we want to be able to meet our stock levels that are preferred or maybe to be able to deliver in time so that the customers get their orders when they were supposed to i see that there are projects to complete missing timesheets that there are some time records to approve expense reports to approve customers to bill and sales orders to invoice so from just watching my dashboard i know exactly what's going on on my business of course i've got my kpi score cards and i've i can basically add whatever i want on that dashboard but if you are not seeing what i'm seeing and if you feel that what i'm showing to you here is interesting then just get in touch with us and we can help you get the right dashboards for you and for your team now let's have a look at what we can use to build a sales invoice so to use a sales invoice we need to have customers at least one customer we need to have items we potentially need billing schedules and a tax code so let's go through each of these so if you don't have this dashboard i'm gonna use the netsuites classic interface and show you that by going to lists for example relationships and customers i can access my list of customers and pick one of them from there although natively if i know the name of the customer i can just type it in on the top search menu and click on it to bring the record up in front of me now the record will hold the customer's name also the sales team that is assigned to it if any the partner that brought it in if that's something that you you work with it's going to categorize your your customer you can categorize the customers by types you're gonna have a main email address this is really useful when you wanna must send emails that include invoices so if you wanna batch process invoices and send them automatically to your customers this is the email that's going to be used so you have to make sure that you've got the right email there even though you have the possibility to have multiple contacts at the bottom so you could have many people working in this office but this email here is the email that's going to be receiving the the actual automatic sending of the invoices you can add your address or multiple addresses at the bottom here this is the address subtab and this is where you're going to put all the billing and shipping addresses the financial sub-tab will allow you to set price levels on netsuite billing terms for credit the credit limit itself the value of the credit limit so if you want to netsuite to block your sales team in case your customer is not paying you and you want to prevent them from taking more orders then you shouldn't use credit limits the customers currency is there also so you won't ever have to worry about your sales team putting the wrong currency in it's always going to be correct your accounting team will already have taken care of setting the right accounts receivable on your customer so that's one weight of your shoulder too all sales invoices will be affecting the right receivables and the right sales accounts but the sales accounts are set up on the items not on the customers there's also a vat tax code that can be set as default on the customer if you leave it blank then netsuite will look at the customers country to decide which viet code and rate to set now there is another element that's quite interesting here at the bottom of the um financial sub tab is the ability to set very specific prices for specific items to this customer you know maybe it's a very special customer you have a long-term relationship with and you don't want just to set a a price level against him you want to have a very specific price that's been agreed on specific items and this is where you're going to come in and set those items and prices ingly when you are on edit mode or creation mode there's also a preference which is quite interesting here you could decide that you know maybe if your customer is requesting that you send them your invoices in their own language then you can set the language and you can you can then later print the invoice in the language of the customer instead of your own you can set their preferred shipping carriers and very importantly you can also give access to your customers through the netsuite customer portal for them to be able to take orders uh well to place orders rather and see maybe all the cases they had with you and the status of your invoicing and also their payments and their balances but also the status of the orders that they place with you now an important thing too on the customer record is the marketing sub tab if you leave the subscriptions at the bottom to soft opt-out you won't be able to send billing communication to your customers so whenever you have customers you want to send emails to just make sure that this is done to self-talk in right with that in mind we covered everything we needed to know about the customer let's move on to the item so to create an item and to look at the list of available items you need to go to list accounting items so either click on items to see your list of items or click on new to create a new one if you have the permission to do it right so here we're looking at a zenbook free deluxe laptop so we've got a name for that item we've got a sales description at the bottom we have some information about the purchasing so how much it costs we're not going to go into the details of that but it's quite interesting to calculate your margins on your sales transactions like estimate orders and invoices that way you can prevent sales people to eagerly take well give to too big a discount to your customer then we've got sales pricing this is where the bidding schedule can be attached to the item so for example if your item is insurance 12 months then of course you can set a specific billing schedule for any orders that are placed for insurance 12 months to be invoiced at 12 of the amount every month and this would be done automatically by netsuite and calculated much faster than if you had to go to every sales order and every customer you have the possibility to set the item weight that would calculate your shipping costs you can also go down here and put specific item prices by price levels the standard price is the one that's basically whenever you've got customers without price levels this is the price that they're going to be paying for the the product but you also have quantity pricing where for example at 100 laptops ordered while it's going the price is going to change to a hundred eight hundred and fifty dollars for the 100th laptop so that's all set here there's nothing much more you need to know in terms of sales so once your customer and your items are ready you need to make sure the billing schedules are set correctly so the billing schedule as i mentioned a few seconds ago is a way to invoice your sales orders in a specific manner automatically so to go to your bidding schedules first of all you need to have permissions to do it but if you do have the permission you need to go to lists accounting bidding schedules and if you click on the billing schedules you're going to see the list of existing ones and if you click on new you're going to create a new one so this one is of type standard there are different types that exist so feel free to have a look you know you can have time and material standard or charge based and basically you can name your billing schedule are you going to be invoicing an initial amount on the first invoice maybe it could be 10 or 50 percent what are the payment terms for the the invoices that are going to be created from these bidding schedules what's the frequency of the billing schedule repeat every month and what how many recurrence should this be over are we invoicing in arrears or in advance so at the beginning of the month or at the end of the month and what are the recurrence payment so you have an initial payment term and a recurrence payment term so this is set to public meaning that anyone can use the speeding schedule so once the bidding schedule is set on an item or a service then it's defaulted on the sales order that it's its item is being used so you can have many items with different bidding schedules and netsuite will only propose to you to invoice those that are supposed to be invoiced every month so if you have two items on a sales order one to be invoiced this month and the other maybe in three months every quarter for example then on today's day if you run the the invoicing is only going to propose you the item that's supposed to be invoiced for the month right so we talked about the customer we talked about the item the billing schedule now let's talk about the tax code the vat the vat is usually set up at the time of implementation so you do it by going to setup accounting and scrolling down to all the vt so you set up your taxes your control accounts your tax types and your tax codes and basically if you need any rate to be changed you would usually ask your accounting team to do that for you and once done then you're good to go so now let's do an invoice the manual way we see here that this invoice was created from a sales order that's because we automated the creation of that invoice from a sales order this is what an invoice looks like you know you've got your customer you've got your terms you've got the invoice date the invoice reference number the due date you've got the posting period for your financials you've got any kind of classification that you might require department classes or locations and at the bottom you've got your items in terms of sales information you're going to find your billing address here and if the customer has sent you a purchase order reference you'd be able to see it here too now in terms of shipping you can have a look at the ship date if there was a shipping associated to this invoice and sales order in terms of accounting you can have a look at your estimated gross profit this is what i was mentioning to you on the item where you see your purchase prices for the item then netsuite can use that to show you your estimated gross profit per sales order per estimate per invoice now you've got your invoice how do you create it manually from scratch maybe not from a sales order you go to transaction sales and you click on create invoice and you go for the processors that i just described now it's so nice and sweet to have an invoice but you also need to make sure that the invoice is printed in the correct way or communicated to the customer in the correct way too so if you move your mouse on the print icon here and you click on print it's going to print the invoice in the language that you're using on netsuite if you click on print in customers locale it's going to print it in the customer's preference preferred language so if the customer's preferred language was french it would print the invoice with french labels now what does that mean it means that if you want to to have a french equivalent like a french translation not just of the labels but even of the data like the the name of the item and its description if you go to the item itself the item record and you scroll down to the system information you will see that there's the ability to enter the sales description in french here and also the display name in french so when you print the invoice in the customer's local and his language is french the customer will not only see the labels in french but also the data within the invoice in french right so with that said let's go back to now the the look of the invoice so once you clicked on print it's going to look something like this and you can move the logo around you can change the font type you can change the font size you can remove borders from these boxes and the way to do this is you have to go to netsuite you go to customization forms and then you're going to customize your pdf forms that's where you're going to do it and once you've customized them then you'll be able to see the changes now if you want to add or remove things from the elements seen on the pdf you'd have to go to the transaction form itself and look for your printed fields there right so once you've done this you're good to go so once you've done this you're good to go you're ready to go to the next step now which is how to create a sales invoice automatically based on what netsuite thinks that is ready to be invoiced so to do this you have to go to transactions bidding and process billing operations when you do this you will be able to see all the you'll be able to see all the customers grouped by whatever elements you wanted to name them in so let's say you want now to invoice in mass all the prescott sports customers you don't want to invoice them all these charges time expenses and items maybe you just want to invoice them whatever is from the contracted sales order with them and you also want to mass print all the invoices afterwards so that's what you would do but instead if you want to must email the invoices to the customer you'd set the to be emailed to yes and in that case all your customers that should be charged that should be invoiced will receive an email without anything in the the body of the email but with the invoice as an attachment and with a subject called your company name colon your invoice ref with the reference number of the invoice and then with the attached invoice in pdf so there's another way to do this because here the thing i don't like is that you don't really see the invoices that are ready to be created and sent so that might be a bit stressful for the first time to run the invoice batch so instead of that you could go to transactions and you could go down to customers and then go to invoice billable customers when you click on this it will actually send you to the page which would be similarly the one used by your billing process that we just saw that we just saw a second ago but here you'll be able to click on the invoice and verify exactly what it is that's being invoiced before either printing them or sending them by email to your customers right so netsuite also helps you with numerous sales reports receivable reports anything you need to be able to track all your sales activities i think there's about 36 reports related to sales and of course you can customize these reports yourselves of course if you have the permission but if you have difficulties or you maybe you you can do that quite easily but you just don't have the time then just give us a call and we'll gladly do that for you so thank you for your time and speak to you soon goodbye