Isn’t it great when your favourite things get even better? A few months ago, we launched Square Invoices. We knew that outstanding bills were a big problem for small business owners across Australia and we were keen to help streamline the process by enable you to send invoices online.
Since then, we’ve added some additional features designed to keep saving you time. The new Scheduled Invoices feature does what it says on the box. It lets you schedule your invoices to send online whenever it suits you and have them sent online on days that are most convenient for your customers and clients.
We’ve listened to your feedback and are also happy to introduce Recurring Invoices. This feature lets you send invoices online and collect payments at regular intervals, whether that’s daily, weekly, monthly or just once a year. It’s an easy way to be more efficient in your business and simplify your bookkeeping.
How will you use Recurring Invoices? If you’re a service-based business like a photographer or a graphic designer, you can set up a regular payment plan for customers to spread out the cost of your services. Alternatively, you can send a Square Invoice for the transfer and then a second to collect the balance at a later date. If you deliver goods to clients on a set schedule, you could set up Recurring Invoices for that too. For example, a florist that delivers a flower arrangement to an office once a week. Working together, recurring and scheduled invoices can also help small businesses accept full payments in advance.
When you set up a recurring invoice, you just take care of task once and then don’t need to worry about it. That means more time to reinvest into other areas of your growing your business. It’s easy to choose the dates that work best for you, or alternatively optimise and send your invoices on dates that you’re most likely to get the fastest customer payment. With business owners around Australia sending invoices online with Square, our data shows that between 9 and 11 AM is the most effective time of the day to send invoices, with Wednesday being the most popular day of the week. You can discover all this data for your own business in Square Dashboard and use this information to ensure you send invoices online at a time when you’re likely to be paid the fastest.
Recurring Invoices has its own tab in the Invoices section of your Dashboard, so it’s easy to create, manage and schedule invoices all from one place. You can also check the payment status of any outstanding invoice in a series, as well as setting the rate of recurrence or the end date when you’ll stop requesting payments from a customer.