Creating a Recurring Invoice from an Opportunity

Opportunities are the sales and pending deals that you want to track. When an opportunity's Stage is set to a type of "Closed Won", you can create a single invoice or set of recurring invoices using the details specified on the opportunity.

To create a recurring invoice A special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products. the opportunity must contain at least one product with an associated product schedule.

See Creating a Recurring Invoice from Scratch  if you want to create a set of recurring invoices without using the information held on an opportunity.

You can create a recurring invoice A special type of sales invoice that you enter only once but that causes several similar sales invoices to be generated automatically. Recurring invoices are typically used to request payment for regular bills, such as an annual maintenance agreement invoiced monthly. Alternatively you can use them to create invoices for scheduled monthly deliveries of products. from an opportunity in two ways:

From the Opportunities tab

To create a set of recurring invoices from the Opportunities tab:

1. Click the Opportunities tab.
2. Locate and retrieve the relevant opportunity details. Click the lookup icon to search for the appropriate opportunity.
3. Click Create Invoice. A confirmation page is displayed. You can view the First Invoice Date which defaults to today, the First Due Date which is calculated from the first invoice date plus the account's credit terms, and First Period which defaults to the year/period of the first invoice date (within the context of your current company).
4. [Optional] You can override the exchange rates that will be used on the set of recurring invoices for document to home, and home to dual currencies by entering alternative rates in the Invoice Rate and Dual Rate fields. If the opportunity currency is the same as home or dual, you cannot override the corresponding exchange rate. The rates applicable on the first invoice date are displayed for information purposes. If you do not enter overriding rates, the current rates at the time of posting are applied.
5. Click Create Invoice to proceed.

   When the selected opportunity includes scheduled products, the recurring invoices page is displayed.

   This page lists the products involved and the invoices to be generated. You can add or edit dimensions to analyze the account and products involved. It also gives you a chance to amend the invoice description and each of the due dates. See Recurring Invoice Fields for more details.

6. Click Save to save the recurring invoices or Cancel to abort. You can also click Save & Post to save and post the invoices.

From the Invoices tab

You must be in Classic Edition The view of the application that you see when you first install the base managed package. to use this method of creating recurring invoices.

To create recurring invoices from the Invoices tab, using an existing opportunity with scheduled products:

1. Click the Invoices tab.
2. Click New.
3. Click Convert next to the Opportunity field. The opportunity convert page is displayed.
4. Use the lookup icon to search for the relevant opportunity.
5. Select the opportunity you want to use, then click Convert. A confirmation page is displayed. You can view the First Invoice Date which defaults to today, the First Due Date which is calculated from the first invoice date plus the account's credit terms, and First Period which defaults to the year/period of the first invoice date (within the context of your current company).
6. [Optional] You can override the exchange rates that will be used on the set of recurring invoices for document to home, and home to dual currencies by entering alternative rates in the Invoice Rate and Dual Rate fields. If the opportunity currency is the same as home or dual, you cannot override the corresponding exchange rate. The rates applicable on the first invoice date are displayed for information purposes. If you do not enter overriding rates, the current rates at the time of posting are applied.
7. Click Create Invoice to proceed.

   When the selected opportunity includes scheduled products, the recurring invoices page is displayed.

   This page lists the products involved and the invoices to be generated. You can add or edit dimensions to analyze the account and products involved. It also gives you a chance to amend the invoice description and each of the due dates. See Recurring Invoice Fields for more details.

8. When you are finished, click Save. You can also click Save & Post to save and post the invoices.

Each time you create a recurring set of invoices, an email message is sent to you confirming that the processing is complete. It also tells you the invoice group number to help you locate the invoices later.

Notes

• The sales invoice created by the conversion inherits the currency recorded on the opportunity, if this is an accounting currency. If the opportunity currency is not an accounting currency, you must add it to the list of selected currencies first.
• If you want to create a sales invoice from an opportunity, but don't want to use the default general ledger accounts held on the opportunity products, your administrator can give you the ability to override the product GLA on the opportunity before conversion.