How to create an invoice with QuickBooks

When you’re growing as a business, professional invoicing is vital to make sure your cash flow is managed, and your profits are protected. Using accounting software to create invoices is a great way to save time and simplify the process of invoicing - by allowing QuickBooks to combine invoices with your accounting in the background. By choosing to use their templates, you can create custom invoices which suit your business, and contain all the information you need.

QuickBooks aims to make tracking real-time payments effortless, but you should also consider providers that can help you receive international payments as your business grows. Wise, for example, can help you with making and receiving international payments. More on that in a moment.

This guide covers all you need to know about how to create invoices in QuickBooks, and what information to include - so you can save time on admin, and get your money quicker.

What is an invoice?

An invoice is a document that provides clients with a detailed description and costs of the goods or services that have been provided. It is needed when a customer pays after the time of sale, and the document establishes an obligation for the purchaser or client to pay. Invoicing is needed for tracking payments and accounts receivable accounting. It makes sense then, to also create invoices in the platforms in which you manage your business accounting.

How to create an invoice on QuickBooks

Here’s how you create an invoice using QuickBooks - make sure you include all the relevant information if you’re building an invoice, or use a template to help you. More on QuickBooks templates below.

• Once you’re logged into QuickBooks, click the + icon on the toolbar
• On the Dashboard, under the Customers column, select Invoice - the invoice form should then appear on your screen
• Choose the customer you want to bill, from the drop down provided. If it’s a new customer, you can enter their details at this stage
• Fill in the details about the product, as required by the customer and the country you’re importing into
• You’ll be able to preview, print, send or save your final invoice from here¹
• Using the Customise option, you can choose to Edit current - from here you can customise the design and apply your branding

QuickBooks also has features which let you add discounts, promotions or extra charges for late fees into your invoices, so you can custom make the invoice you need.² They have created helpful videos and guides to help guide you through creating invoices as simply as possible on their website.³

Doing business overseas and need to make international business payments? Wise could save you money versus your bank.

When you have to pay employees or suppliers overseas it might seem logical to do this with your bank. You already have an account there, they have all your information, so it just seems easier. Although these are valid reasons, easier certainly doesn’t mean cheaper.

Most banks won’t convert your money with the mid-market exchange rate when you make an international payment. Instead they add a mark-up and charge you a hidden fee that way. Wise is different. Its smart technology skips hefty international transfer fees by connecting local bank accounts all around the world. Which means you can save up to 8x by using Wise rather than your bank when you send your money abroad.

Wise also has a lot of additional features for business users. You can connect with Xero to make your life easier, upload a batch of payments in one go or even automate your payments by integrating with our API. And there’s more to come in the future.

What to include on an invoice

It is important to include all of the information needed when creating an invoice. On every invoice you will need to include:

• Invoice Title
• Business name and address
• Tax number (if needed)
• Business branding

The details that will change and will need to be updated on each invoice, are:

• Customer name and email address
• Customer billing address
• Terms (ie. the number of days you give the client to pay you)
• Invoice date (date you provided the product or service)
• Due date (automatically populated based on the Terms field)
• The goods or services you supplied
• Product or service description
• Quantity and price of goods or services
• Unique Invoice number
• Total price before tax
• Total tax
• Total amount to pay
• Details to identify who paid⁴

QuickBooks invoice templates

QuickBooks users can access a wide range of different invoice templates, covering different types of invoices. You can also completely customise your invoice template to show your company branding and terms and conditions.

If you are new to QuickBooks, and have been relying on Excel templates or invoicing to keep track of your finances - then there is no need to start from scratch. QuickBooks make it simple to import your files so you can start using their invoice template.⁵

How to send invoices

When you’re running a business, getting paid quickly is important. That’s where electronic invoicing can make life a lot easier. By using accounting software like QuickBooks you can share your invoice directly with a customer, or save it and email it as a PDF. This means there’s no waiting around for the post service, and no postage charges either. There’s no reason to rely on paper invoices - sending online is a much better choice.

Getting your invoice to your customer as quickly as possible is vital - so what if you could invoice your customers wherever you are. QuickBooks have made it simple to send from your phone or tablet, to save help you to work smarter - not harder.⁵

Using an integrated option like QuickBooks to send out professional invoices to your customers presents a strong brand image, and also means that all your invoices and accounts are kept in one place, for easy reference. Don’t forget to hold onto all your old invoices for a couple of years, in case you need them for tax purposes later.

Creating custom made invoices, which you can send and manage online is just good common sense for most business owners. QuickBooks helps you to speed up the invoicing process, improve cash flow and easily track your payments. It’s even more important for people exporting and dealing with overseas clients, as waiting for international postal services to deliver paper invoices causes unnecessary delays. It may also be useful to consider an alternative to QuickBooks, such as Xero whose integration with Wise, allows you to effortlessly combine a multi-currency business account with your online accounting software.

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Sources checked on 19 June 2019.