Welcome, finance expert! You are the person in charge of the invoicing process within your company, and you always keep a vigilant eye on the finances. In this guide, we will take you through all the steps of the financial aspects of Rentman.
Discover how to make invoices, how to integrate your accounting software with Rentman, and all the other processes you need on a daily basis. You will find links in this guide that lead you to more information about the described topics.
If you get lost or stuck at some point in the process, don't worry - our support team is here to help you. In the bottom right corner of your screen, you will find a 'help' button to contact one of the support agents. They will be happy to assist you!
Modules required
- dashboard Dashboard.
- table_chart Projects.
- Invoices.
- settings Configuration.
First things first, make sure you are logged into Rentman.
As an essential part of your company, we want to help you with optimizing your work processes Let’s discover how that works and what the best workflows are.
In case you are also responsible for setting up work processes, you can find a helpful guide in the Rentman Academy! Find out how to implement taxes, payment methods, invoice numbers, and much more: Rentman Academy - Implement your financial process.
Create an invoice
In the Implementation phase of the Rentman account, Invoice moments must have been set up. If not, have a look at the step: make sure the customers pay on time. This step is crucial because it helps automate the process, so every project is correctly invoiced. They will determine when a project will show as “to be invoiced” in the Finance module.
In Rentman, the process is fully automated. You don’t need to chase the account managers and ask them if an invoice needs to be created. Depending on the invoice moments, you will have the information available at any time.
You now know what the To be invoiced module is for and how to create an invoice. If you want to take things to the next level and discover how to create partial invoices and penalties for late payments, follow these steps: Creation of the invoice
Customize the design of the invoices
If the look of the documents is determined by someone else, you can skip this entire section.
You have generated an invoice, but you were not fully satisfied by the template you have used. You need to customize the document, so it reflects exactly what you want to communicate to the customer. Have a look at Rentman Academy - Automated creation of documents with document templates to discover how it is done.
What comes after the invoice?
Your invoice is now created but that does not mean the money has been received yet. You need to keep track of this too. Let’s assume the due date of the invoice is dangerously close and the customer has not paid yet. You are worried. However, you remember that the Finance > Invoices module overview shows you what’s going on. You open the invoice details where you see that the status is still open. This confirms that you have not received any payment yet.
This will look similar to this:
Export the invoices to an accounting software
The invoices are now created. Though, keep in mind that Rentman is not an accounting software. You need these data in the actual accounting software so your mission can continue. To do so, there are two ways, depending on the software you use.
I am using either Xero or Quickbooks online
If you use one of these two, this means that an automated export can be done between Rentman and the software you use.
I am using another accounting software
If you do not use either Xero or Quickbooks online, do not worry, we also have a solution for you. A manual export will be possible, so your ledgers will be exported as a .xlsx (Microsoft Excel, Google Sheets) file.
The Dashboard - keeping a good overview
In order to keep an overview on the invoices and revenues, you need a place where you would instantly see if an action is required and how things are going. The dashboard Dashboard module will be your best ally for this.
You can customize the dashboard to your own needs and display for example your tasks, calendar and an overview of the generated and expected revenue.
The statistics - to go even deeper
The statistics will show you how the company is performing. For your role, you will focus on the financial side of the business.
What a great overview you have now!
Signed, sealed, delivered! Now that you understand how to do your daily tasks in Rentman, no invoices will ever escape your control again. Your role is essential and Rentman will help you on a daily basis to make sure you can effortlessly keep an eye on everything.