Adding a payment to an invoice helps both you and your customer keep track of the outstanding invoice amount. It also automatically changes an invoice's status to 'Paid'.
There are two core methods for tracking income payments against an invoice – depending on how you use Solo:
Link an existing transaction to an invoice: Ideal if you have your bank account connected to Solo.
Create a new transaction from an invoice: Ideal if you manually add your income to Solo.
In this article:
Note: Invoices are not included in Solo's income and tax calculations. Tax calculations are solely based on categorised income transactions and/or the pre-taxed income feed.
Link an income transaction to the invoice
If your bank is connected to Solo, when you receive payment for the invoice you can link the bank transaction with the matching invoice.
Matching the transaction and invoice will display the paid amount on the invoice and update the invoices outstanding amount. If the invoice is paid in full, the invoice status will automatically change to 'Paid'.
To link an existing income transaction with an invoice:
Click the down arrow at the right hand end of the transaction.
Select the invoice from the dropdown menu. The invoice status must be 'Sent' to appear in the transaction dropdown menu.
Save the transaction.
The paid amount will display on the invoice and be subtracted from the invoices amount due.
If the invoice is paid in full, the invoice status will automatically change to 'Paid'.
Unlink a transaction from an invoice
To unlink a transaction:
Click the down arrow at the right hand end of the transaction.
Click the X icon to clear the linked invoice.
Save the transaction.
The payment will then be removed from the invoice and the invoices outstanding amount.
Add a payment to the invoice
If you manually add your income to Solo, you can create a new income transaction directly from the invoice.
Creating a new income transaction from the invoice will display the paid amount on the invoice and update the invoices amount due. If the invoice is paid in full, the invoice status will automatically change to 'Paid'.
To add a payment to an invoice:
Click the three dots menu in the invoices list.
Select Add payment from the dropdown menu.
Enter the payment details and click Save.
A new transaction will be created on the 'Income' page and included in Solo's tax calculations.
The paid amount will display on the invoice and be subtracted from the invoices amount due.
If the invoice is paid in full, the invoice status will automatically change to 'Paid'.
You can also click the 'Add payment' button at the bottom of an invoice to add a payment.
Unlink a transaction from an invoice
To unlink a transaction:
Click the down arrow at the right hand end of the transaction.
Click the X icon to clear the linked invoice.
Save the transaction.
The payment will then be removed from the invoice and the invoices outstanding amount.
Add a partial payment to an invoice
If you receive a partial payment for an invoice you can add the payment to the matching invoice and the invoice will show an updated 'amount due'.
A partial payment can be added using either of the add a payment to the invoice or link an income transaction with the invoice methods above.
The invoices total amount and amount paid will be displayed in the invoices list.
The amount paid will also be displayed on the invoice and subtracted from the amount due. The invoice status will only change to 'Paid' when full payment is made.
Add a deposit to an invoice
To add a deposit to an invoice, the invoice must first have a status of 'Sent'.
If you haven't sent the invoice to your customer yet, you can simply change the invoice status – you will still be able to email the sent invoice by clicking on the 3 dot menu.
Then follow the instructions above to add a payment to the invoice. The deposit amount will then display on the invoice as an 'amount paid'.
If you have any further questions please reach out via the in-app chat.