Follow-up invoice setup

Stevo

I might be overlooking something, but I need some help/advice on how to setup a follow-up invoice.

In month 1 of using Wave Invoice, I successfully sent out Invoices to all my customers. However, now in month 2, I'm struggling to build on the 1st Invoice sent.

For instance, in month 1, Client 1 received his Invoice for an outstanding total of $100. He/She now made a payment of $50, thus leaving $50 still outstanding. Now in month 2, I want to send Client 1 another Invoice for the outstanding $50 plus the $100 for month 2 (Total $150). However, and this is the part I need help/advice on, how can I send him/her an invoice which reflects all of month 1's payments - for both his and my records?

Thank you in advance for any feedback.

Alexia

Hi @Stevo.

You wouldn't be re-invoicing them for the missing amount. Re-invoicing for an amount already invoiced for in the past will add more money to the amount they owe you, So if on Month 1, they paid you $50 out of the $100 they owe you, they still owe you $50 according to Wave. If you then create another invoice for $150, Wave will interpret it as you client owing you $200, because they still owe you $50 dollars for that first invoice.

Wave uses accrual accounting, which means that Wave adds all money you invoiced as income when the invoice is created, not when payment is received (because that money is yours, in effect, even if you haven't received it yet).

What you would have to do is invoice them for $100 for that second month, but also send them a reminder that their invoice has only been partially paid. To send a reminder, click on your original invoice (for Month 1) and click send reminder, which you'll see under the Get Paid header.