Using Bundles in QuickBooks Online

This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online.

QuickBooks Online lets you create groups of products and services called bundles. Bundles are made up of one or more products and services.

Bundling products is a great way to define a commonly billed set of products and services. It’s also a great tool for developing a repeatable billing process.

To create a bundle go to Gear > Products and services > New > Bundle.

Using bundles for frequently billed products

Let’s say you typically bill for the following products/services for most of your clients:

  • SaaS subscription
  • Maintenance Fee
  • Implementation Fee
  • Custom Report Hours

Creating a bundle that consists of the 4 items above you save you time when creating each invoice. You would only need to add the bundle item to the invoice and each of the 4 items would be automatically added to the invoice.

Using bundles to hide pricing details

Let’s take the 4 items above and say the total cost you will end up billing your client is $50,000. With bundling you can choose whether the details of the bundle show up on the invoice. You can choose whether only the bundle item shows up on the invoice with the total cost, or each of the 4 products also show up.

When creating a bundle either check or un-check Display bundle components when printing or sending transactions

Basic Invoicing in QuickBooks Online

This post is part of a 5 part series titled SaaS Guide to Invoicing in QuickBooks Online.

Developing an internal process

One of the most important tasks is to develop an internal process for billing your clients. Even if you are a small company now, having a repeatable process that you can use to train others will pay off in the future.

  • Provide as much detail on the invoice as possible: terms of the subscription, implementation details, renewal details
  • Provide details for each product/service you sell. If you are selling software subscription, note the start/end dates for the subscription.
  • Come up with a process for billing renewals (we’ll discuss recurring transactions in another post)

Enabling service date

QuickBooks Online allows you to enable an extra field on invoices called Service Date. This extra field can be used to specify additional information such as the start date of the subscription or the date you plan to be providing that service to your customer.

To enable Service Date go to Gear > Company Settings > Sales > Sales form content

Emailing your invoices

Emailing your invoices to customers will allow you to get paid much quicker. You can also use QuickBooks Payments to easily accept credit cards and ACH payments.

When you email your invoices to your clients, you will be able to see when they have opened and viewed the invoice. This only works if they click the link provided in the email, so you may want to turn off the PDF attachment option to make sure they have to click that link. Gear > Company Settings > Sales > Online delivery > Attach sales form as pdf

In our next posts in this series we’ll go over some other options for invoicing such as product bundles, classes, locations and how to utilize QuickBooks Online and ProRata to manage your revenue recognition.

SaaS Guide to Invoicing in QuickBooks Online

In this 5 part series we will be going over some best practices and how-to’s for how SaaS companies can utilize QuickBooks Online‘s built-in features to manage your subscription billing process.

  1. Basic Invoicing in QuickBooks Online – We’ll go over the basics as well as how to enable certain features in QBO that are useful when selling SaaS products and services.
  2. Using Bundles in QuickBooks Online – Learn how to create an use bundles for multiple-element contracts
  3. Using Classes and Locations in QuickBooks Online – Learn how to use QBO’s classes and locations to tag your invoices with additional data for reporting
  4. Recurring Invoices in QuickBooks Online – You’ll learn how to use QBO’s recurring invoicing features to create future invoices for renewals
  5. Revenue Recognition in QuickBooks Online – Learn how ProRata can streamline your revenue recognition and revenue reporting

We will release a new blog post each day next week.

You are Not A Babysitter: The Age of Value-Added Finance Professionals

How do you conquer the age of FinTech or as Joe Woodard dubbed it: #theRiseoftheMachines ?

Let’s start by debunking this insidious rumor. The rise of automation will leave finance professionals as babysitters of software.

Can you think of a teacher, coach, professor, or boss that was a glorified babysitter? How much did you like them? How much did you value them?

Teachers that babysit are often how we discover the fact that we can learn and act on our own. Yet you still found yourself wishing you had a great teacher…


Great teachers are not babysitters. They facilitate learning through:

  • Providing alternative explanations
  • Assisting the problem-solving process
  • Through knowledge of their subject, guiding their students ahead

A great teacher adds value to you as a student by empowering and guiding you. Great financial professionals do the same thing for their clients.

No one likes a glorified babysitter in any advisory role. Finance professionals should never find themselves babysitting a client’s books or accounting software.

Automation and AI, like ProRata, are tools. Just like whiteboards or Promethean boards are tools. Just like a bad teacher, you can get away with being a glorified babysitter. No one is going to be a fan of that except maybe the unenthused. Your dream client certainly isn’t waiting for the opportunity to work with a glorified babysitter.

No one said it better than Joe:

“The Future [Finance] Professional: The best and brightest professionals will endure the longest – those who can perform tasks that cannot and ought not to be replaced by machines, and tasks we prefer to leave in the hands of human beings” #RiseOfTheMachines Joe Woodard

If you taught yourself finance, you are 100% capable of conquering the age of FinTech. You just have to introduce yourself to the new tools and workflow.

Let’s start by addressing that, at times, too vague term  “value added accounting/finance.” How is that measurable? What does that mean?

Finance professionals are experts when it comes to value. Anyone working in finance knows that value is subjective. Depending on how you approach numbers, value can be seen differently. Ultimately presenting the best ‘value’ involves knowing what your target audience/niche wants.

Yikes, no wonder they leave it so vague.

We need an answer that is better than “be a resource” or “add value.” But, there is no way that I could write all the blogs needed for every client’s needs. Let alone how to market to all those niches.

Good thing we have an expert here. You. You are an expert on your clients both current and potential.

Through this new blog series, we will give you the tools to be battle ready. We will discover and define value added finance. We will help you define what it would mean to be a resource for your ideal client/employer.

Coming January 26th: Defining your niche/client base.  

FinTech is not going away and neither are you. Register for our free newsletter today to get every blog in this series.

Use the hashtag #ConquerFinTech, mention us @ProRata on Twitter, or comment below.


NEW BLOG SERIES: How to Conquer the Age of FinTech: Finding Your Niche, Mastering Solutions, Marketing Your Skills, and Taking on the IoT and the Cloud Subscription Frontier


The ProRata team and I would like to welcome you to our newest blog series, “How to Conquer the Age of FinTech: Finding Your Niche, Mastering Solutions, Marketing Your Skills, and Taking on the IoT and the Cloud Subscription Frontier.”

No matter the type of financial professional: CFO, corporate controller, a bookkeeper, fractional/freelance/full-time, etc; you will benefit from a brief course through this blog on how to #ConquerFinTech .

In 8 weeks, you will be ready with this battle-tested advice:

Topics Being Covered:

  • Defining Value Added Finance and FinOps – No More Vague Advice Like “Be a Resource:” Titled:: You are Not A Babysitter: The Age of Value-Added Finance Professionals
  • The Art of Identifying and Studying Your Niche (Yes, CFO/controllers/staff accountants have niches too!)
  • How do I Master my Niche and Prevent Myself from Losing the Trust of my Client(s) Making a Bad Recommendation?
  • Why Make Use of the App Ecosystems and Cloud Products: How to Leverage Them to #ConquerFinTech?
  • What Skills Do I Need and How Do I Get Great at Them to #ConquerFinTech ?
  • How to Market Your Value: Part 1
  • How to Market Your Value: Part 2
  • Introduction to the Frontier of IoT and Cloud Subscription: What Accountants Need to Know

Want this series in your inbox every 2 weeks? Let us know you want it! (subscribe button with I want to #ConquerFinTech)

Next week: You are NOT a Babysitter: The Age of Value-Added Finance Professionals
Use the hashtag #ConquerFinTech, mention us @ProRata on Twitter, or comment below.