What is a Recurring Invoice?
With a Recurring Invoice, you can charge someone a fixed amount on a set schedule, meaning your customer will be sent an invoice with the fixed price and interval that you set. For example, you could charge someone $99 per month or you can change it to daily, weekly, yearly, or custom.
You can set a limit to the number of charges the invoice cycle will process by setting a number of Billing Cycles. If you were to set the Billing Cycles to be “10”, then your customer would be sent an invoice on the set interval dates until the customer has made 10 payments. After the 10th payment, there will be no more invoices sent to that user for that cycle. By setting a limited number of Billing Cycles, you are essentially setting the invoice to expire after a set amount of time. See below:
- Price – This is where the price amount for the plan is placed. The defaulted currency for the space will be shown here. To change it, go back to the setup dashboard and change it.
- Interval – This dropdown option can be set to monthly, yearly, weekly, daily or custom. By choosing custom, you are then given the option to choose 2,3,4,5, or 6 as the value and months, weeks, or days as the term.
- Billing Cycles – This is where you enter the amount of months, weeks, days, or years you set to charge the invoice recipient. You can leave this field blank for continuous billing.
- One-time Charge This will be applied to only the very first charge. It will not be charged on any of the subsequent billing cycles.
You can also pause the invoices schedule and/or cancel the remainder of the Billing Cycle altogether for the invoice at anytime.