Invoices - Multiple due dates for payments/deposits along with the ability to offer trade terms
Ability to set up multiple due dates for payments/deposits.
Purpose: payments and deposits can be spread throughout different dates.
AdminXero Team
(Admin, Xero)
shared this idea
Hi everyone, thanks for continuing to share the details behind your workflows here. We wanted to return with a meaningful step forward for this idea. As some users may have seen, we’ve released the ability to request a Deposit in Xero!
Enveloped in this we recently made an improvement to this so businesses can now set a specific due date when creating a new deposit, and that due date is shown clearly on the deposit request your customer receives.
We appreciate this doesn’t yet deliver the fuller outcome many of you describe here, such as multiple due dates across a full invoice, broader instalment-style payment schedules, or trade-term arrangements on a single invoice. But it's progress in this space.
I’ll be back to confirm once Deposits is completely released to all markets and share how we plan to evolve this further.
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Kim Worrall
commented
Being given the suggestion of raising multiple invoices by support is really no use. I don't believe it is an unusual request to be able to raise one invoice and then mark it down as split payments/due dates.
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Shannan Johns
commented
Would be great to have this feature! E.g. Invoice terms 1/3 payment due in 30 days, remaining 2/3 due 60 days.
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Juanita Rogers
commented
Yes, this allows more accurate cashflow analysis and can also be used for large bills to be paid over the course of the financial or following year. Ideally, one bill could be entered, and different due dates entered for each payment due date for each instalment. This could still record the bill for VAT purposes but would not bunch up all instalments due in month 2, instead, spreading them over months 2-12.