QBO vs Xero Invoicing

1. QBO vs Xero I N V O I C I N G WWW.WHICHADDON.COM

2. Table of Contents 3. Creating Invoices with Quickbooks Choosing which accounting software to use can be a daunting task. There are so many choices and so many features to choose from. The most important thing we need to consider is how the software would be a great fit for your business. 5. How to Record a Payment to an Invoice in Quickbooks 6. How to Edit an Invoice in Quickbooks 7. How to Delete an Invoice in Quickbooks 9. How to Print an Invoice in Quickbooks 11. When we browse through our software choices, like Quickbooks and Xero, we don’t want to just see a list of features, we want to be able to take a peek at how it is actually done - without having to go through the trouble of doing it ourselves. How to Edit an Invoice in Quickbooks 13. How to Add an Online Payment Service Link to an Invoice in Quickbooks 15. How to Make an Invoice Tax Exclusive or Tax Inclusive in Quickbooks 17. That is exactly what we have for you. We will be showing you how some processes are done with both Quickbooks and Xero to help you decide which one best suits your business’ needs. How to Create an Invoice in Xero 19. How to Record a Payment to an Invoice in Xero 21 How to Edit an Invoice in Xero 23 How to Void an Invoice in Xero Let’s start with invoicing. Invoicing is how we let our clients know when, how much, and how they could send us their payments. Creating and sending those invoices is one of the most basic features of an accounting software. 25 How to Print an Invoice in Xero 27 How to Email an Invoice in Xero 29 How to Add an Online Payment Service Link to an Invoice in Xero 31 How to Make an Invoice Tax Exclusive or Tax Inclusive in Xero Here is how it is done. 33 How to Add an Attachment / File to an Invoice in Xero 02 SUBSCRIBE AT WWW.WHICHADDON.COM

3. QUICKBOOKS | INVOICING Creating Invoices with Quickbooks From the Dashboard, select Start Invoicing and click on Customize Your Invoices. Once you have finished your design, click on Content and input your company information, field names, and invoice details. Click on Emails to customize the email that your clients get with every invoice they receive. 03 SUBSCRIBE AT WWW.WHICHADDON.COM

4. CREATING INVOICES WITH QUICKBOOKS Select Payments if you want to give your clients the option to pay for the invoice. Once finished, click on Done to save the invoice template. Select the Client you want to send the invoice to from the drop-down list and type the Email Address you are sending the invoice to. The Billing Address and Invoice Terms will auto populate upon client selection. Input the invoice charges in their respective fields and attach needed documents. Once satisfied with your invoice, you can either Save for later or Save and Send. 04 SUBSCRIBE AT WWW.WHICHADDON.COM

5. QUICKBOOKS | INVOICING How to Record a Payment to an Invoice in Quickbooks Recording a payment on an invoice in Quickbooks is easy. You can also record partial payments. Here are the steps on how to do it. In Quickbooks Online, click on + and select Receive Payment. You can select which invoice to record payment on by clicking Choose a Customer or Find by Invoice No. Select the Invoice Number and fill out the details of the payment (Payment Method, Reference Number, Deposit to, and Amount Received), and click on Clear Payment. 05 SUBSCRIBE AT WWW.WHICHADDON.COM

6. QUICKBOOKS | INVOICING How to Edit an Invoice in Quickbooks There are instances where we would need to make some changes to an existing invoice. It helps to know how to complete the steps to ensure that there are no errors. Here are the steps on how to edit an inovice. On the upper left side, Click on Sales and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or any invoice related information. Select the invoice you would like to Edit. For this example, let us use Jordan Burgess. 06 SUBSCRIBE AT WWW.WHICHADDON.COM

7. QUICKBOOKS | INVOICING Make the necessary changes. For this example, I changed the rate from $400 to $500. Once satisfied with the changes, click Save (to send later) or Save and Send. In cases where you would want to permanently remove an invoice from Quickbooks, you would need to know how to delete the said invoice. How to Delete an Invoice in Quickbooks On the upper left side of the Home Screen, Click on Sales and select Invoices. 07 SUBSCRIBE AT WWW.WHICHADDON.COM

8. HOW TO DELETE AN INVOICE IN QUICKBOOKS You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or any invoice related information. Click on the drop-down list on the right and select Delete. From the invoice screen, you can also click More on the bottom part of the screen and select Delete. 08 SUBSCRIBE AT WWW.WHICHADDON.COM

9. QUICKBOOKS | INVOICING A dialogue box will appear. Select Yes to confirm and the invoice will be deleted. Although we live in a digital world, there is still the need to print our invoices sometimes. Here are the steps on how we can print our invoices on Quickbooks. How to Print an Invoice in Quickbooks On the upper left side of the Home Screen, Click on Sales and select Invoices. 09 SUBSCRIBE AT WWW.WHICHADDON.COM

10. HOW TO PRINT AN INVOICE IN QUICKBOOKS You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or any invoice related information. Choose the invoice to be printed, click on the drop-down arrow on the left, and select Print. You can also go to the invoice screen, scroll to the bottom, and select Print or Preview. There will be an option to either Print Later, Print Preview, or Print Delivery Note. 10 SUBSCRIBE AT WWW.WHICHADDON.COM

11. QUICKBOOKS | INVOICING A window will appear. You can click Print at the bottom right or click on the Printer Icon on the top right of the page. There are instances where we would need to make some changes to an existing invoice. It helps to know how to complete the steps to ensure that there are no errors. How to Edit an Invoice in Quickbooks On the upper left side, Click on Sales and select Invoices. 11 SUBSCRIBE AT WWW.WHICHADDON.COM

12. HOW TO EDIT AN INVOICE IN QUICKBOOKS You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or any invoice related information. Select the invoice you would like to Edit. For this example, let us use Jordan Burgess. Make the necessary changes. For this example, I changed the rate from $400 to $500. Once satisfied with the changes, click Save (to send later) or Save and Send. Adding an online payment service like Paypal makes it easier for our customers to make their payments to our invoices. Helpful, right? Here are the steps on how we can get Paypal set up on our account. 12 SUBSCRIBE AT WWW.WHICHADDON.COM

13. QUICKBOOKS | INVOICING How to Add an Online Payment Service Link to an Invoice in Quickbooks On the Dashboard, hover over the Banking icon and select Banking. Click on the Add Account icon on the top right. Select Paypal among the choices on the screen. 13 SUBSCRIBE AT WWW.WHICHADDON.COM

14. HOW TO ADD AN ONLINE PAYMENT SERVICE LINK TO AN INVOICE IN QUICKBOOKS Enter your Paypal Email Address and Password and select Continue. Click on the Verification and select Continue. Paypal will then start connecting to your Quickbooks account and the next screen will let you know if it has been set up. Sometimes, we may need to change the tax status of the items on our invoices depending on the products or services provided. 14 SUBSCRIBE AT WWW.WHICHADDON.COM

15. QUICKBOOKS | INVOICING How to Make an Invoice Tax Exclusive or Tax Inclusive in Quickbooks On the upper left side of the Home Screen, Click on Sales and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or any invoice related information. 15 SUBSCRIBE AT WWW.WHICHADDON.COM

16. HOW TO MAKE AN INVOICE TAX EXCLUSIVE OR TAX INCLUISIVE IN QUICKBOOKS On the middle right part of the screen, click on the drop down list next to Amounts are to choose whether the invoice should be Tax Inclusive or Tax Exclusive. Once changes have been made, you can either click Save or Send and Save to finalize. You can also change the tax status of certain items on the invoice by clicking on GST in the item description and selecting the appropriate tax status. Once changes have been made, you can either click Save or Send and Save to finalize. Now that we have been able to look at the processes in Quickbooks, let’s look at how these things are done in Xero to be able to really compare and decide which one is for you. 16 SUBSCRIBE AT WWW.WHICHADDON.COM

17. XERO | INVOICING How to Create an Invoice in Xero From the Dashboard, You can select New Invoice on the Invoices Owed to you section. You can also click on the Plus Sign on the upper left of the screen and select Invoice. Once on the New Invoice screen, fill out the invoice details. To (Customer Name), Due Date, Reference Number, and Item Description are mandatory fields. 17 SUBSCRIBE AT WWW.WHICHADDON.COM

18. HOW TO CREATE AN INVOICE IN XERO Once all the needed fields have been filled out, you can select Save from the drop down list options Or select Approve from the drop down list options. Voila! You now have a new invoice ready to be paid. Once a customer has paid their invoice, we need to record the payment on Xero. Here are the steps on how to record a payment on an invoice. 18 SUBSCRIBE AT WWW.WHICHADDON.COM

19. XERO | INVOICING How to Record a Payment to an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, or other details associated with the invoice. On the invoice list screen, select the invoice you are recording the payment to. For this example, we will be using ABC Furniture. 19 SUBSCRIBE AT WWW.WHICHADDON.COM

20. HOW TO RECORD A PAYMENT TO AN INVOICE IN XERO Once on the invoice screen, scroll down to the bottom left and fill out the details of the payment that was made and select Add Payment. A confirmation will appear that the payment has been successfully recorded. There are instances where we might need to make changes to an invoice. It is vital that we know how to make these changes properly to ensure error free record keeping. 20 SUBSCRIBE AT WWW.WHICHADDON.COM

21. XERO | INVOICING How to Edit an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to you section. On the invoice list screen, select the invoice you are making changes to. For this example, we will be using Bayside Club. 21 SUBSCRIBE AT WWW.WHICHADDON.COM

22. HOW TO EDIT AN INVOICE IN XERO Once inside the specific invoice screen, select Invoice Options on the upper right and click on Edit. Make the necessary changes, and select Update on the lower right side of the screen. There are invoices that sometimes need to be deleted. Unlike Quickbooks, there is no option to delete an invoice. We can only void it. 22 SUBSCRIBE AT WWW.WHICHADDON.COM

23. XERO | INVOICING How to Void an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to You section. On the invoice list screen, select the invoice you are making changes to. For this example, we will be using Bayside Club. 23 SUBSCRIBE AT WWW.WHICHADDON.COM

24. HOW TO VOID AN INVOICE IN XERO Once inside the specific invoice screen, select Invoice Options on the upper right and click on Void. There will be a prompt to confirm if you would want to void the invoice. Select Ok to void. A confirmation will appear that shows that the invoice has been voided. Voiding an invoice will only make it null, while deleting it completely erases it from the system. 24 SUBSCRIBE AT WWW.WHICHADDON.COM

25. XERO | INVOICING How to Print an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to You section. On the invoice list screen, check the tick box of the invoice you want to print and select Print. For this example, we will use Marine Bayside. 25 SUBSCRIBE AT WWW.WHICHADDON.COM

26. HOW TO PRINT AN INVOICE IN XERO You can also go to the specific invoice screen and select Print PDF on the upper right side. A dialogue box will pop up and you can either Mark as sent or Leave as is. Select which option applies. For this example, let us choose Leave as is. An option to save the invoice as a PDF file will appear, please click Save. You can now print the invoice like you would any regular PDF file from your computer. 26 SUBSCRIBE AT WWW.WHICHADDON.COM

27. XERO | INVOICING How to Email an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to You section. On the invoice list screen, check the tick box of the invoice you want to print and select Email. For this example, we will use Marine Bayside. 27 SUBSCRIBE AT WWW.WHICHADDON.COM

28. HOW TO EMAIL AN INVOICE IN XERO You can also go to the specific invoice screen and select Email Invoice on the upper right side. A dialogue box will appear and you can fill out the necessary fields like the email address to send it to, etc. and click Send. A confirmation will appear that the email has been sent. Adding online payment services makes it easier for you to get paid. This helps clients pay your invoices while on the go from their mobile devices. 28 SUBSCRIBE AT WWW.WHICHADDON.COM

29. XERO | INVOICING How to Add an Online Payment Service Link to an Invoice in Xero From the Dashboard, click on Accounting and select Bank Accounts. On the upper left of the screen, select Add Bank Account. Type Paypal on the search bar and select the option on the drop down list. 29 SUBSCRIBE AT WWW.WHICHADDON.COM

30. HOW TO ADD AN ONLINE PAYMENT SERVICE LINK TO AN INVOICE IN XERO Input your Paypal Email Address and Currency being used and click Continue. A confirmation will show that the account has been successfully linked. 30 SUBSCRIBE AT WWW.WHICHADDON.COM

31. XERO | INVOICING How to Make an Invoice Tax Exclusive or Tax Inclusive in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to You section. Once on the invoice list screen, click on the invoice you want to change the status of. For this example, we will be using Marine Systems. 31 SUBSCRIBE AT WWW.WHICHADDON.COM

32. HOW TO MAKE AN INVOICE TAX EXCLUSIVE OR TAX INCLUSIVE IN XERO On the upper right side of the screen, and click Invoice Options and select Edit. On the middle right part of the screen, click on the drop down list next to Amounts are to choose whether the invoice should be Tax Inclusive or Tax Exclusive. Once the necessary change has been made, click on Update on the bottom right of the screen to save. 32 SUBSCRIBE AT WWW.WHICHADDON.COM

33. XERO | INVOICING How to Add an Attachment / File to an Invoice in Xero From the Dashboard, click on Business and select Invoices. You can also search for the invoice by clicking the Magnifying Glass icon and typing the invoice number, customer name, and other details associated with the invoice or clicking on the Invoices on the Invoices Owed to You section. Once on the invoice list screen, click on the invoice you want to add an attachment to. For this example, we will be using Marine Systems. 33 SUBSCRIBE AT WWW.WHICHADDON.COM

34. HOW TO ADD AN ATTACHMENT / FILE TO AN INVOICE IN XERO Once on the specific invoice screen, click on the paper icon and select Upload Files. Choose the file you want to upload and click Open. You can now attach the file along with the invoice on an email. 34 SUBSCRIBE AT WWW.WHICHADDON.COM

35. QUICKBOOKS vs XERO | INVOICING Final Thoughts So there it is, Quickbooks and Xero can do pretty much the same thing that the other can. For the most part, when it comes to invoicing, they are almost identical to each other. The important fact when it comes to invoicing in either system is that you can record everything that you need, to ensure that you get paid faster for the work you do or the products you sell. In Quickbooks, you can capture a signature to an invoice in the app if you want to - which is a great little feature that Xero doesn’t have. But on the other side of the coin, Xero has many more payment services options - to truly get paid faster. Payments Services is the next topic will be discuss in the QBO vs Xero project, next issue. One of the other things that we love about Xero i nvoices over QBO, is that you can enter an invoice without using an Inventory Item. This is a +1 for Xero for me. We hope that you found this step by step summary helpful and practical. If you have any other questions regarding Quickbooks and Xero or other software that integrates with it to help run your business in the cloud, please feel free to contact us. We at WhichAddOn understand how difficult it is to choose between these two great software and we are always more than happy to assist. 35 SUBSCRIBE AT WWW.WHICHADDON.COM