The Kicksite team has been hard at work rolling out our uplifted Finances experience. Many improvements have been made as part of this update, but we’d like to highlight one key element: invoices. Invoices help you record every possible payment within your academy, and Kicksite makes creating invoices quick and easy so you can monitor your business’s finances clearly. It’s a simple step to take control of your cash flow and make your business better!
THE BASICS: WHAT’S AN INVOICE?
First, it’s important to simply understand what an invoice is – it’s a timestamped document that records a possible payment between a seller and a customer, much like a bill. Whether someone is buying a t-shirt, gi, or anything else, it should be recorded as an invoice. It’s critical for internal and external audits but can be managed solely by your trusted staff and administration.
On an invoice, you’ll often find terms & conditions and additional information regarding the payment. By making note of pricing, products, and additional fees, you’ll be able to visualize and note details that may have been unclear before. Things such as total units purchased, revenue stream, and tax charges will be outlined for your own assessment and safekeeping.
While some businesses still record invoices on paper, digital invoices are quite common these days and remove the many hassles and inconveniences of manual paperwork. Kicksite’s uplifted Finances system allows you to instantly send invoices to customers via email or print them as needed. Not only that, but you’ll have an immediate organized view of your invoices that gives you quick access to those that have not been paid.
WHY ARE INVOICES IMPORTANT?
TAXES
Kicksite invoicing allows you to track the taxes you are legally obligated to pay. A Collected Tax report allows business owners like you to effortlessly track the amount of taxes that you have gathered from customers. Utilizing invoices can help you avoid legal predicaments with the IRS, but also maximize your cash flow in the process. By utilizing our invoicing features and having all this information at your fingertips, you’ll put yourself in a better position when it comes time to file your business taxes.
CASH FLOW
Tax preparedness is just one way invoices put your business on solid financial footing. Using invoicing allows you to control and visualize both the money you gain and potentially spend. As an individual, you watch your bank account balance and avoid overdraft fees, so why not track your company’s finances with equal amounts of care to maintain a healthy situation for your business?
By using Kicksite you can closely monitor unpaid bills and forgotten charges. Managing Past Due invoices is a breeze in our system so you’re able to quickly send payment reminders and follow-ups. Not to mention, with just a few taps you can also view and resolve open balances with payment processing built right into the system. What you AND your customers will enjoy the most about these features is being able to quickly settle their dues without any hassle. You’ll be able to confidently detect delinquent accounts and act accordingly to ensure business growth.
MANAGEMENT
Overall, invoicing will benefit your business by establishing sound accounting practices and improving your efficiency. It’s a valuable feature that allows you to see vital financial information and more easily take administrative actions. You’ll be able to spot pain points and assess where your time, attention, and investment need to be directed for important financial decisions.
Kicksite’s uplifted Finances is centered on invoicing for a multitude of reasons – improved cash flow, tax preparedness, and more efficient management. Taking advantage of invoicing will make your life easier and your business better! Need assistance getting started with invoices in Kicksite? Our Knowledge Base has many tutorials readily available for you from how to add an invoice to how to pay an open invoice.