How to Generate invoices using QuickBooks and Xero?

Given all of the benefits of e-invoicing, it’s clear that using this method will provide maximum productivity and help you track your revenue accurately. Using e-invoicing provides a clear window into your consulting business profitability and it is an essential part of organizing your business.

CPA4IT clients are encouraged to use cloud accounting software to generate e-invoices. Below are instructions for creating electronic invoices in two of the most recommended cloud accounting solutions: Quickbooks Online and Xero. Make sure to click here and avail a 40% discount on Quickbooks Online!

How to Generate an Electronic Invoice Using QuickBooks Online

1. Go to the Home screen or the Customers menu. From there, select the Create Invoices tab.
2. If you have already listed your customer, go to the Customer: Job drop-down and select the customer or customer job. In case of a new or unlisted customer/customer job, select Add New.
3. Add all the relevant information including: Date, Invoice Number, Bill to/Sold to, and Terms.
4. Go to the detail area. Here you will find the items tab. You can select or add your items from here. The description and amount are automatically populated based on the description and unit cost entered in this tab. 
5. If you wish to apply any discounts in your invoice, you will have to create a discount item (Optional).
   1. Go to the Home screen. Here you will find the Lists menu.
   1. Select the Item List tab.
   1. In this tab, right click anywhere on the screen, then select New.
   1. Click on the Type drop-down. Here you will select Discount.
   1. You must add information like Item Name/Number and a brief Description.
   1. In order to specify the amount of your discount, go to the Amount or % field. Here you can add the amount or percentage of your discount. In case of varying discounts, you may leave this field empty. The discount amount can directly be applied on the sales forms. 
   1. You must also select the relevant Tax Code for your discount item.
   1. Click on the OK button. 
6. After completing the above mentioned steps, finish off your invoice by selecting Save & Close.

How to Generate an Electronic Invoice Using Xero Invoice

1. Click on the ‘Launch” icon. Then click on Invoice. 
2. Go to the “To” field. Here, you can either select a previously entered contact, or enter a new contact. You can add or edit details of the contact here.
3. (Optional) If you wish to add items from the previous invoice you sent to that client into your new invoice, you can click on the “Add last items” button. 
4. Next, head towards the item field. Here you can either add an existing item from your inventory, or add a new item. For a new item, you must manually enter the description, price and quantity of the item in the invoice. 
5. After completing your invoice, click the arrow next to the Send icon. Here you will get four options. You can pick the relevant one:
   1. You can email the invoice to your customer by clicking Send
   1. You can copy the link to your online invoice by selecting Get Link
   1. You can get a PDF of your invoice by selecting Print PDF. This also automatically approves your invoice. 
   1. To approve your invoice, click on Approve. You can come back to it and make edits at any time. 

After the completion of these steps, the status of the invoice will appropriately get updated to either draft, awaiting payment, or paid. 

You can also print your invoice without approving it by simply clicking Print draft PDF.

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