Recurring Invoices due on a specific date
Everell
Member Posts: 1
I am planning to use Wave to send recurring invoices for rental income that I collect.
Rent is due the first of the month, but generally I send out the invoices early and some tenants pay prior to the first. I see that I can create the recurring invoice to repeat Monthly on a specific date, but my problem is that I don't see a way to indicate that the due date for a recurring invoice is always the first day of every month. My only options are due On Receipt, Within 7 Days, Within 14 Days, etc...
It would be useful if the due date for a recurring invoice could be set to a specific day of the month, just as you can set the creation date to repeat on a specific date.
On a side note, is there any way for an invoice Due Date to state, "On Receipt," instead of actually stating the date?
Comments
Hi, @Everell,
It isn't currently possible to set the due date for a recurring invoice to a specific day of the month or use the words "On receipt" as the due date. I'm happy to pass this along to our product team as feedback but you won't be able to do either for the time being. I can't promise those options will be added, but know that we pay a great deal of attention to feedback from our users, which has a significant impact on what we build next for Wave.
As a workaround, you could use the first of the month as both the invoice date and the due date, and categorize early payments to a "Customer Pre-payment or deposit" liability account. When you would record those invoices as paid on the first, you would just have to choose that account as the Payment account. It's not exactly what you're looking for, but I thought it might still help.
Any news as to when we will be able to use custom dates for invoices? I love wave, but I need to bill invoices on the 15th and make then due on the 1st.
Hey @trav2001. No plans as of just yet (to have customized dates for when the payment is due), but we are certainly keeping our eyes on this feature to see how we can implement something like this in the future. One thing that I recommend doing is entering in the due-date in the notes section of the invoice.
@JamieD That would be great. That is the only thing keeping from using wave full time. I asked a few customers how they would fell about seeing a due that was wan't really a due date, then having to look at a note to see the actual due date. The response wasn't good. I'll have to go with a different option at this point unfortunately...
I am looking for this feature too - Rent due the first of the month... it seems logical that we should be able to set the payment date (and have the invoice date as the variable) doesn't it?
YES!! I completely agree. This should have been in Wave from day 1!