Recurring invoices
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Eugene Roi
Automatically charge your clients at fixed schedules via credit card or direct debit (ACH).
While invoices could be created automatically with automations, recurring invoices will take the ‘payment’ step out of the client's hands and it will happen automatically. Clients will be presented with a professional page to review, enter their bank/credit card details and approve the recurring invoice.
For each recurring invoice, you will be able to see:
- Aggregate invoice amount ($1000 at 12 months = $12,000)
- Paid to date ($3000 paid so far on 3 payments)
- Balance ($9000 balance on this recurring invoice schedule
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Raul Medina Jr.
I know this works with Stripe, but what is the status, or what is the timeline with the implementation of CPACharge?
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Tricia Grimes
Love this, will you have the ability to change the payment method if the client needs to update it?
Can you have the reoccurrence go into the future indefinitely? Or would this be an annual thing?
Will this option be part of the pipeline automation process?
Eugene Roi
Tricia Grimes: Hi Tricia!
> will you have the ability to change the payment method if the client needs to update it
- Yes - client will be able to change the payment method within the confines of the methods you chose to accept.
For example, if you said credit card only, they'll be able to update the card to a different one. If you said ACH only, they'll be able to update the bank account info.
If you said Credit card or ACH, they'll be able to update both payment method and account information.
> Can you have the reoccurrence go into the future indefinitely? Or would this be an annual thing?
- Recurrence must be limited, but there is some workaround - just set up 999 recurrences.
> Will this option be part of the pipeline automation process?
- For the first release - no
Eugene Roi
Hi guys - we're in active development on this.
🔥 Here is a brief preview of what it will look like from both the firm and client side.
- Firm can set up recurring invoices
- Recurring invoice can be set as draft for manager to review and send off
- Firm can choose to do payment authorization; this enables the client to accept the recurring invoice and all future payments will be withdrawn automatically, without client involvement
- Without payment authorization, invoices will be created automatically but payment will not be automatically withdrawn
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Jenny Worsham
Eugene Roi: is this still in progress???
Eugene Roi
Hi, Jenny Worsham! Yes, we are actively working on it.
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JOSEPH A. SERRONE
Eugene Roi: Hi Eugene, it would be very helpful if TaxDome can at least roll out the Recurring Invoices feature even if the full module is not yet ready. There are firms with hundreds of clients on a fixed monthly or recurring schedule and this could save hours.
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Christine Bray
Hi Product Team, I am wondering two things:
- Will this be accomplished via a two-way sync with QuickBooks so I can create invoices there and set up recurring payments with QuickBooks payments that would reflect in TaxDome?
- How far away are we from this actually being implemented?
I know this doesn't have a lot of votes but this aspect is very important. As it stands right now, I am unable to use the invoicing portal at all because I do not bill my clients and wait for payment. Therefore, there is no need for me to lock documents.
All of my clients pay before work is completed. I have to put a link to a QBO invoice in the contract for one-time clients. Monthly clients sign a recurring payments authorization form and I set that recurring payment up in QuickBooks Payments. It would be nice for this to be reflected in TaxDome
ilya
Christine Bray: Hi Christine - this is in progress and the recurring invoices will be created inside of TaxDome. We don't comment on timelines other than it's in active development and if it's in our roadmap it's something we're putting a good amount of resources towards and want to see it to completion.
If you have QBO sync on it will sync to your QBO, as well.On a separate note - invoicing in TD is not just to lock payments, but to have less places for your clients to do things - your portal becomes the one source of truth for your clients (instead of chasing down random links you send them in email to QBO).
If you have other requests (such as 2 way sync where you create invoices from QBO) - please vote on those separate requests - this is the roadmap and shows what is in progress so leaving commentary of separate requests is not efficient as it will get lost.
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Christine Bray
ilya: Thank you for your reply. I already know the full purpose of invoicing portal in TaxDome, however, I do not use Stripe or CPA Charge so it is not useful to me.
I was just more or less trying to gauge if the invoicing portal was something I will be able to utilize in the near future. I was unaware that we were not supposed to comment in the timeline, as I have read many comments and questions asked by the product team themselves on these very same timelines. I will not ask another question here. Can you please direct me to where questions are supposed to be asked?
ilya
Christine Bray: Hi Christine, sure!
"Thank you for your reply. I already know the full purpose of invoicing portal in TaxDome, however, I do not use Stripe or CPA Charge so it is not useful to me. "
Right - but that's the question. They're commodities and fungible services for the most part- maybe one gives you a slight discount over another but the actual services are similar. My comment to you is that from a customer experience perspective (remember, your perspective is from your firm, my job is to think holistically and we speak to thousands of firms and analyze behavior from millions of clients) - having a unified area is a big customer improvement. That's why we put resources into making invoicing inside of TD better and better (I understand that there are some areas (such as recurring invoices) that are better in other places for now which is why some use QBO - but I'm speaking bigger picture.
"I was just more or less trying to gauge if the invoicing portal was something I will be able to utilize in the near future."
Certainly!
"I was unaware that we were not supposed to comment in the timeline, as I have read many comments and questions asked by the product team themselves on these very same timelines. "
I guess let me clarify as my comment may have been unclear. This is the roadmap board accessible from taxdome.com/roadmap - this showcases big picture projects we are working on (it is not exhaustive). You can ask questions, but in general comments of 'requests' should be posted in the feature request board (if you click on the (?) in your portal and click feature request board it will take you there automatically. You can also search for requests to see what others have requested (2 way sync from QBO is a big one so you can vote on it - this helps us analyze what people want and also you will be notified automatically when it's completed).
To clarify - feedback is always welcome, I just want to make sure your requests are not lost since this is the roadmap and showcasing what we're working on - requests in the comments are likely to get lost
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Christine Bray
ilya: Thank you for the explanation. It is appreciated.
Product Team
in progress
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JOSEPH A. SERRONE
Product Team: It would be very helpful if TaxDome can at least roll out the Recurring Invoices feature even if the full module is not yet ready. There are firms with hundreds of clients on a fixed monthly or recurring schedule and this could save hours.
Eugene Roi
JOSEPH A. SERRONE: we're in process of rolling out recurring invoices, coming soon!