Invoicing - Repeating invoice with annual increase
Repeating Invoices - automatic price increase
We have several client contracts which include 5% price increases per annum. It would be great if you could create a repeating invoice and specify a percentage to increase the amount by on its next repeat
Trent Steel
shared this idea
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Paul Hickman
commented
Our situation is very similar to the one Frank mentioned in his comment. Lots of client with different renewal dates who we need to schedule increases for. Even if we could just schedule a price increase several months in advance on repeating templates that would. Better still if we could do that in batch for multiple clients.
Paul
We really need this, to automate price increases each year to keep up with inflation.
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Frank Stickney
commented
SO SO SO important for anyone with contract clients, service agreements etc. Xero, listen, you MUST find a solution for this. I have lost a bunch of money because I have ADHD and I forget to update my clients' recurring invoices. They're all on different renewal dates. I recently have been setting up a convoluted system of service line items with Y1, Y2, Y3 creating a big mess in my system just so that I can select the right year of service item rate based on the year they started. And I have a Google Sheet with formulas that use a starting date I enter to show the year (Y2 etc.) they are in, the deadline for changing the recurring invoice in Xero, with an app script in Google to set up a reminder in the calendar... it's CRAZY and messy and so many places things can fall through the cracks! I would probably pay more at a different invoicing/bookkeeping service and switch from Xero if I found one that would handle this for me. So I urge you to make this recommendation a priority! You will probably attract a lot more customers once they find out you have it... Seriously.