Recurring billing is billing that happens more than one time on a cycle, usually on a weekly or monthly basis. Utility bills are an example of recurring bills. Recursive Invoices and Expenses are very much beneficial in saving time. It’s an Automated Process that uses control systems to control processes, reducing the need for human intervention. You can make error free data entries. It is fully controllable and provides security, ease of use, energy saving, faster decision making, better quality control, greater precision, increased productivity and high efficiency.
On several occasions, creating invoices is a repetitive task. Often, you need to bill your clients on a monthly basis for the same services or products. Basically, you can find yourself in the need to create the same invoice for some of your clients over and over again, because it’s content is the same every time.
Thus CAPIUM introduces a vital feature that will save your time in creating invoices repeatedly that is Recurrence.
Recurrence is simple, but powerful….
We've designed this to be as simple as possible to use for you, but without losing any capabilities you should recognize our recurrence system. If you want to make an invoice recurrent, it will be enough for you to set the recurrence period in recurring invoices, the system will then handle all the process, from calculating the next recurrence dates to actually creating the new invoices when they need to be created. You can define the recurrence period by selecting the time lapse in Months and Weeks. You can manually set the next recurrence date.
The recurrent bills system is smart, too and similar. Also, The Invoice date will also be settled correctly. Basically, the new invoice will be identical in everything... except on those things you would expect to not be identical! A Recurring Expense is an expenditure that occurs periodically, for example you pay rent, make loan payments every month etc. Every time that a new invoice is created by recurrence, the next recurrence date will be updated with the next date, calculated automatically by the system. When calculating, it will take care of months with different number of days (30, 31 or 28... even 29) too. If there were any payments on the original invoice, they will be included in the new invoice, but they will all be set to not paid, as you would expect.
Thus it makes invoice creation system flexible without individual invoice load.