Table of contents
1. Overview
Cone's invoicing system is designed for flexibility, accommodating businesses with diverse needs. Whether you prefer to work independently or through integrations with accounting software and payment processors, Cone has the tools to streamline your invoicing process, maintain professionalism, and enhance efficiency
1.a Standalone invoicing
For those who value simplicity or are not yet ready for external integrations, Cone's standalone invoicing offers a robust solution
Features:
Quick invoice creation: Draft invoices rapidly using Cone's direct interface or predefined templates
Share directly: Send invoice links to clients straight from Cone, ensuring timely delivery and views
PDF previews: Easily generate and download PDF versions for offline sharing or record-keeping
Manual payment updates: Update payment statuses manually to keep financial records accurate
1.b Integrations
1.b.i Accounting software Integration
Linking Cone to accounting platforms like QuickBooks or Xero automates your financial tracking, simplifies invoicing, and ensures consistency across your financial management systems
Integration Benefits:
Seamless synchronization: Automatically reflect invoice changes in both Cone and your accounting software
Enhance flexibility: Manage invoice drafts within Cone, edit freely, and sync at your convenience
Streamlined processes: Access and send finalized invoices directly, cutting down on manual tasks
1.b.ii Payment processor integration
Connect to payment processors such as Stripe or GoCardless for straightforward online payments, directly integrating payment links into Cone-generated invoices
Key Advantages:
Immediate payment links: Facilitate faster payments with embedded links in invoices
Real-time updates: Payment statuses in Cone refresh automatically, reflecting client payments as they occur
1.b.iii With both integrations
Utilizing Cone with both accounting and payment integrations offers the ultimate invoicing efficiency—combining detailed financial tracking with the ease of online payments
2. Invoice statuses
Invoices in Cone are categorized under two fundamental statuses: Draft and Open. Understanding these statuses will help you navigate invoicing in Cone more effectively, ensuring accuracy and timeliness in your billing cycle
2.a Draft
When an invoice is first created in Cone, it enters the Draft status. This initial phase is designed for flexibility, allowing you to fine-tune the invoice details before sending it to your client
Key characteristics of draft invoices:
Editable: You can modify all aspects of the invoice, including line items, pricing, client details, and more
Not visible to client: Invoices in draft status are not accessible to the client, providing you with a private workspace to complete your invoice preparation
Actions available: In draft status, you can:
Edit the draft
Download a PDF preview
Finalize the invoice, transitioning it to an open status
Duplicate the invoice within draft status for similar billing scenarios
Sync the invoice to your accounting app (if not already done)
Download a PDF preview
Share a link for internal review
Delete the draft if necessary
Transitioning out of draft status typically occurs when you're satisfied with the invoice and ready to proceed with client billing, either by finalizing the invoice or sending it directly to the client
2.b Open
Once an invoice is finalized or sent to a client, it transitions to the Open status. This status indicates that the invoice is complete and has been issued to the client for payment
Key characteristics of open invoices:
Limited editability: To maintain accurate records, open invoices have restricted edits. Significant changes require canceling the current invoice and creating a new one
Client visibility: Invoices in the open status are accessible to clients, typically accompanied by a payment request or instruction
Actions available: For open invoices, available actions include:
Sending reminder emails
Marking the invoice as sent (if not using automatic email)
Duplicating the invoice back to draft status for corrections
Downloading a PDF copy
Sharing a link directly with the client
Marking the invoice as paid upon receiving payment
Writing off the invoice in certain circumstances
Canceling the invoice if plans change
By leveraging these statuses effectively, you’re equipped to keep your billing process organized, transparent, and responsive to both your business needs and your clients’ expectations
2.c Default invoice status
In Cone, users have the flexibility to configure default invoice statuses under billing settings. This feature streamlines the invoicing process, especially for invoices generated automatically by the system. It ensures consistency in how invoices are managed and progressed within your financial workflow
2.c.i Configuring default invoice status
Accessing billing settings
Navigate to billing settings: Users can access this option within their Cone dashboard settings. Here, you'll find various configurations related to invoicing and payments
Setting Default Invoice Status
Default status options: Cone allows you to set a default status for newly created invoices. This could be Draft or Open, depending on your workflow preference
Draft: Indicates the invoice is in a preparatory stage and can be edited
Open: Signifies the invoice has been finalized and issued to the client but not yet paid
2.c.ii Application of default invoice status
Automatically generated invoices
System behavior: For invoices automatically created by Cone (e.g., recurring invoices, invoices generated from approved proposals), the system applies the configured default invoice status
Workflow efficiency: This setting ensures that automatically generated invoices follow a consistent process, reducing manual adjustments and enhancing workflow automation
Ad-hoc or manually generated invoices
User flexibility: While the default invoice status is pre-filled based on billing settings, users have the option to override this status during the invoice creation process
Adaptability: This allows for greater control and flexibility, accommodating unique circumstances or specific client needs that may require a different invoice management approach
3. Customization
Cone provides users with the flexibility to ensure their invoices reflect their brand and meet specific needs. With Cone, tailoring every aspect of your invoice, from branding elements like logos to critical financial details and payment options, is straightforward and effective
3.a Customization options
3.a.i Logo
Logo display: Your invoice will automatically feature the logo determined in your branding settings. This ensures brand consistency across all your documents without the need for manual updates per invoice
3.a.ii Title and memo
These can managed under invoice settings in billing
Invoice title: You can configure the title that shows up in the invoice. This can be managed in invoice settings under billing
Memo configuration: Any memo you’ve set up in your invoice settings will appear on your invoices, providing a space for important messages or terms tailored to your business or the specific invoice
3.a.iii Dates, numbers, and addresses
Invoice date and number: Every invoice generated will automatically include the invoice date and a unique invoice number, aiding in organization and tracking
Due date: The due date, critical for payment timing, is prominently displayed based on your configured preferences. Invoice terms can be configured to determine due date based on invoice date
Tax number: Your tax identification number, if included in your settings, will be displayed, ensuring compliance and making it easier for clients to process payments
Client and customer addresses: Both your address and your client's address are clearly included, providing necessary details for both parties
3.a.iv Payment link
Payment integration link: If you’ve connected a payment processor like Stripe or GoCardless, you have the option to include a direct payment link in your invoices. This facilitates faster, easier payment procedures for your clients. This setting can be found under your payment integration settings
This will be reflected in the invoice email and the PDF as well
3.a.v Email
You can configure to send email to client when invoice is finalized in Cone. You can also choose to send email to client when a payment is made
When you send an invoice via email through Cone, the recipient will get the invoice as a PDF attachment for their records. This ensures they have all the details in a widely accessible format
Should payment be enabled on the invoice, the email will also contain a payment link. This addition streamlines the payment process, encouraging prompt action from clients
4. Invoice actions
Once an invoice is created, it will be shown under Invoices tab in billing under client workspace and also at the account level
4.a Actions in Draft status
Edit draft: Allows you to make changes to the invoice before finalizing, ensuring all details are accurate and complete
Send email: Enables you to share a draft version of the invoice with colleagues or clients for pre-finalization review and feedback
Finalize: Converts the invoice from draft to open status, indicating it's ready to be officially sent to the client
Mark as sent: This action tells your system the invoice has been manually sent to the client, useful for tracking purposes
Duplicate in Draft status: Creates a copy of the current invoice still in draft form, ideal for similar billing situations to save time
Download PDF: Generates a downloadable PDF version of the draft invoice for offline sharing or personal record-keeping
Share link: Provides a sharable link of the draft invoice, facilitating easy access for designated recipients
Delete: Removes the draft invoice from the system if no longer needed, ensuring clean and relevant invoice records
When accounting integration is enabled, following additional actions are available
Sync to accounting app: If not already done, this action syncs the draft invoice with connected accounting software, keeping financial records unified
4.b Actions in Open status
Send email: Facilitates sending the finalized invoice to the client directly from Cone, enhancing ease and efficiency
Mark as sent: Acknowledges within Cone that the invoice has been issued to the client, keeping the status up-to-date
Duplicate in Draft status: Allows you to create an editable copy of the invoice in draft status, useful for necessary revisions after initial finalization
Download PDF: Generates a PDF version of the open invoice for external sharing or records
Share link: Offers a link to the open invoice for sharing with clients, enabling them to view the invoice online
Mark as paid: Manually updates the invoice status to Paid in Cone, reflecting the payment completion by the client
Write off: Marks the invoice in situations where payment is deemed uncollectible, adjusting financial records accordingly
Cancel invoice: Annuls the invoice if it's no longer valid or required, withdrawing it from the client view and financial tracking
When accounting integration is enabled, following additional actions are available
Sync to accounting app: This action syncs the draft invoice with connected accounting software, keeping financial records unified
When payment integration is enabled, following additional actions are available
Resync to Payment App: Updates or reconnects the invoice details with the payment processing app to ensure accurate and current payment information