Recurring Invoice Template for Excel

Invoices are used extensively in the business world. Where there is a financial transaction, there will be an invoice. Since they are used in every situation, different types of invoices serve different types of purposes. One of the most common types of invoices is recurring invoice.

What is a recurring invoice?

A recurring invoice is used in all those situations in which a business has to issue an invoice to the same customer or client again and again. When it is the same person who has to be issued the invoice, the business does not waste time creating a new invoice every time.

 Rather, it creates the invoice once and then uses it every time it is needed. Such invoices are known as repeating invoices as they are used after every small or specific duration of time interval.

Recurring Invoice

Recurring Invoice File Size: 83 Kb

When to use the recurring invoice?

There are many such situations when a customer visits the business with the same amount of transactions and the same products. In this situation, a business saves its time and uses the invoice that is known as a repeating invoice. For instance, the landlord often issues an invoice to tenants whenever he has to collect the rent.

Since the tenant pays the rent every month, the landlord will issue the recurring invoice to him on a specific date every month. The tenant is also aware of the fact that he is being issued the repeating invoice. It makes no difference to a transaction and it is carried out in the same way as a normal invoice.

After how long the repeating invoice can be used?

There is no hard and fast rule as to when and how often the invoice can be used. It can be used once a week or once in six months which means the time interval can be short and also long. No matter when you want to send this bill, once you are sure that the bill is needed, it will be sent without giving it a second thought.

Not only the bills that are conventional ways to ask for payment known as recurring invoices but the subscriptions of the customer to any service, lease payment, or any other sort of service that is rendered continuously to people also require recurring invoices.

Are repeating invoices useful?

Repeating invoices are extremely useful because they save a lot. They don’t need to issue the invoice from the start and they don’t even need to change the format or content. Only a change in the date is required and then the invoice is ready to use.

Even though recurring bills save time, you cannot use them all the time. You should be aware of the situation in which you don’t want to send a recurring invoice because the data of the invoice has changed and you will need to change it completely. In addition, the customer also gets familiar with the format and the structure of the bill and he also knows that it is a repeated invoice. 

How do repeating invoices work?

Repeating invoices work in the same way as other normal invoices. The only difference is that the user does not have to put extra effort into them as they are issued repeatedly after a specific period. Businesses make a record set in which they mention which customer should be issued a repeated invoice.

When this happens, those who are dealing with invoices and bills know that they don’t need to create invoices for specific customers all over again. Rather, they will access the older one, change the date, and issue it again to them.                 

It is very easy to keep track of recurring invoices as the data is the same at every interval and people who are being issued these bills are already present in the records of the company.

Recurring invoice template:

A template is the best way to get the repeated bill effortlessly. Otherwise, you will have to put in extra effort and create a bill from scratch. The template provides a bill that can be edited according to the needs of the company and then details can be input in it and shared with the customer.