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Simplify Your Venue Invoicing Using These Tools

   
Posted on 19 December 2023

iVvy Features

   

Save time on your venue invoicing and encourage prompt payments with these game-changing tips. 

 

Managing a venue can be pretty demanding, especially when it comes to invoicing. But we're here to help. We've put together a list of solutions that can make invoicing a breeze, saving you a whole lot of time and effort.

Check these solutions out and see how they can revolutionise the way you manage your venue invoices.

Offer Instant Payment Options 

 

1Making sure your clients pay their invoices on time can be a breeze, especially when you make it easy for them to pay. 

 

With iVvy venue management software, you can link your invoices and booking engine with an Online Gateway. This gateway provides a secure and PCI-compliant connection between the invoices you generate from iVvy and your bank account.

 

By integrating your invoices with an Online Gateway, you can automate the payment process. This means that when customers make payments for their bookings, the system can automatically update invoice statuses, mark them as paid, and send payment receipts. The automation reduces the need for manual intervention and speeds up the payment cycle.

‘Pay Now’ Button on Invoices

 

Encouraging your clients to make prompt payments is always a good practice. With iVvy venue management software, you can add a 'pay now' button to all of your venue invoices, making it easy for your clients to pay their dues quickly and conveniently via credit card. 

 

The 'pay now' button not only simplifies the payment process but also enhances clients' convenience, improves cash flow, reduces errors, and provides several operational and financial benefits to your venue. If you want to optimise your invoicing and payment collection process, the 'pay now' button is an incredibly valuable tool.

Include Offline Payment Options

 

2-1It's important to remember that not all customers have access to or feel comfortable using online payment methods. Some customers also prefer to use offline payment methods for high-value transactions as they believe it provides greater security. By offering offline payment options, you can cater to a diverse customer base, ensuring that everyone can pay according to their preferred method. 

 

With iVvy, you have the option to display offline payment options on invoices, such as direct deposit details, BPAY, Cheque/Check, Credit Card, and Afterpay. Once you add these details to your venue's setup, they will appear at the bottom of every generated invoice. Additionally, you can have multiple offline gateways that apply specifically to bookings that are for accommodation only, event-only, or a combination of both.

Setting Invoice Payment Fees


When you process a deposit payment, the amount on the invoice will be the booking revenue that does not include additional charges that may be incurred from credit card or payment gateway processing fees. 

 

To ensure these charges are accurately captured and passed on to the payee, you can set up credit card fees against credit card providers. You can set this up for manual payments to be updated in the system, or it can be automatically applied at the point of payment for payment gateways.

Automated Invoice Reminders


3Managing invoices in your venue can be a complex and ongoing process that requires careful attention. It’s crucial to have a system in place that ensures all invoices are being created, followed up, and received promptly. iVvy venue management software offers a solution to this problem. 

 

By setting up automated tasks and assigning them to the relevant users, invoices can be managed seamlessly. Additionally, rules can be configured to generate these tasks a specific number of days before an invoice is due. This way, you can keep your venue's finances on track and avoid any potential oversights.

Credit Notes


Credit notes are a helpful feature available in iVvy venue management software, which can be enabled upon request. They can assist your venue in maintaining accurate financial records, offer transparency in transactions, and enhance customer satisfaction. Credit notes are useful in managing refunds, credits, and other financial situations that may arise throughout venue operations. In addition to this, credit notes are often used to comply with accounting and tax regulations, and prevent disputes or misunderstandings with clients.

 

There are two options for using the credit notes feature in iVvy;


Using Credit Notes to track removed revenue (after payment) - This option helps you keep a record of revenue that has been deducted from a booking after the client has already paid their invoice. It's like noting down the amount that needs to be refunded or credited back to the client's account.

Using Credit Notes to apply a credit (for a future booking) - With this option, you can apply a credit to a customer's account, which they can use as a discount or payment for a future booking. It's like giving them a virtual voucher they can redeem when they make another reservation.

Displaying Service Fees

 

4When using iVvy, you have the option to customise how you want your service fees to be displayed on invoices and estimated budget outlines. You can either choose to display each service fee separately or as a summarised total at the bottom. 

 

If you choose to display each service fee separately, a detailed breakdown will be shown, while if you choose to summarise the fees, a total amount will be displayed for all service fees. This gives you the flexibility to choose how you want your service fees to be displayed on your invoices and estimated budget outlines.

 

Elevate Your Venue Invoicing Today


Streamlining your venue's invoicing process is no longer a daunting task. iVvy venue management software provides you with the necessary tools to create a smoother financial workflow, enhancing the satisfaction of both your team and your clients.


With the ability to efficiently manage tasks, maintain accurate records, and reduce the risk of oversights, iVvy is a game-changer for venue. Elevate your invoicing experience, optimise your financial operations, and ensure the success of your venue events with iVvy today.

 

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