Turn monthly and yearly quotes into contracts, recurring invoices and renewals
When you create a contract from a quote with monthly or yearly pricing, initial fees are split into a separate invoice, and yearly recurring billing and renewal deals follow from the same contract.
What's new
- Quote to contract: A quote with monthly lines becomes a monthly contract; one with only yearly lines becomes a yearly contract. The contract term and auto-renewal carry over from the quote, and the contract only includes the lines that are billed on a recurring basis.
- Initial fees on a separate invoice: One-time initial fees from the quote are created as a separate draft invoice, and the contract screen tells you when that happens.
- Yearly recurring billing: Yearly contracts are billed every year from the month the service starts. If a monthly contract also has yearly lines, the yearly amount is added to the invoice for the right month.
- Contract wording: Yearly contracts show a yearly unit price and "/ year", and the initial and yearly fees carried over from the quote are listed in a separate schedule (on screen, in Word and in PDF).
- Renewal deals: Click Create renewal deal in the contract's "…" menu to create a renewal deal with one year's amount and the contract end date as the expected close date. Contract deadline reminders also point you to this action.
Who it's for
- Industries: small businesses and sole proprietors
- Screens: Quotes & invoices > Quotes and Contracts
How to use it
- Open a quote with monthly or yearly pricing and create a contract from it.
- Review the separate draft invoice for the initial fees and issue it.
- When renewal approaches, click Create renewal deal in the contract's "…" menu.