To produce a progress invoice as work progresses:
Repeat these steps as required to produce one or more progress invoices during the course of the work.
- Go to the Financial tab of the job.
- From the left hand menu select New Progress Invoice.
- Select/enter the percentage of the quoted value you want to bill for in this invoice.
- Edit/accept the Default percentage progress description then select Next.
- Select Approve and Print. Approving the invoice will automatically - and immediately - create a copy of the sales invoice in your Xero account where it can be reconciled against the incoming payment from the client.
- Select the desired print Template, then Print. From the left hand menu, select Email. Complete the details and Send Email.
To produce the last progress invoice when work is complete:
- Go to the Costs tab of the job.
- In the Description field enter: Retentions - 10% of the quoted value (or similar).
- In the Quantity field enter: -1 (negative 1).
- In the Unit Cost field enter: 0 (zero).
- In the Unit Price field enter: 500.00 (10% of the quoted value in this example).
- (optionally) Provide more information in the Notes field. For example: Retentions withheld as per Contract # WCC-166675-12 until 20 Feb 2016.
- Save your changes.
- Go to the Financial tab of the job.
- From the left hand menu select New Progress Invoice.
- Select Quoted/Estimated Time and Costs, then Next. The retentions information is highlighted with red shading, as it is a cost that was not included in the original quote.
- Approve and Print as above.