Microsoft Dynamics® CRM Training
Creating an Invoice
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Creating an Invoice
Hi, and welcome to the Success Portal by xRM.com.
This video refers to Quote and Order records created in the videos “Creating a Quote” and “Creating an Order”. This video also refers to a Product, Price List, and Unit created in the “Product Catalog” series.
In CRM Online, an Invoice is a record of the sale of a product or service to a customer. The Invoice includes details of the sale such as the product or service sold, the revenue generated from the sale, and the billing information. It is important to understand that Invoices, just like Quotes and Orders, are records of documents sent to customers, not the documents themselves. Typically, Invoices are generated from a converted Order; however it is not required to create an Invoice this way.
In this tutorial, we will demonstrate two methods of creating an Invoice, discuss locked pricing, and include a discount on the sale.
This task requires privileges that are found in all default Security Roles.
First, we’ll create an Invoice that does not originate from an Order. Navigate to Sales > Invoices, and then click New in the ribbon.
The Invoice form opens with the temporary name “New”.
As you can see, most of the fields are blank. When an Invoice is created from an Order, the information from the Order record is carried over to the Invoice by CRM Online, thus saving you time and maintaining continuity between records. Since this is preferred practice when creating an Invoice, we’ll create an Invoice from the Order we made in the video “Creating an Order”.
Close the Invoice form and navigate to Sales > Orders.
Let’s open the Order we created called “Customer wants to order 5 cases of Blue Pens”.
The Order form opens. If you remember from the tutorial “Creating an Order”, this Order has been fulfilled and marked as “Complete”. Therefore, we can now create an Invoice with this information. Click Create Invoice in the ribbon.
The form refreshes as an Invoice form with the title, “Customer wants to order 5 cases of Blue Pens”.
Notice that many of the fields have already been populated with information taken from the Order record.
When you create an Invoice this way, CRM Online automatically assigns it an Invoice Number.
At this point in the sales process, most of the necessary information has already been collected, such as Total Amount and addresses. Most likely, there won’t be a need to change the form all that much. There are a couple of fields to note though.
The first is the Prices Locked field. This field dictates whether or not the Total Amount of the Invoice is calculated with current pricing or locked pricing.
When the Prices Locked field is unchecked, it means you are using current pricing, which is directly associated with the price per unit of a Product in the Product Catalog. That means if the price of the Product is changed in the Product Catalog during the sales process, the Total Amount in the Invoice will reflect the change.
By checking the Prices Locked field, the price per unit of the Product will remain unchanged in the Invoice even if it is changed in the Product Catalog.
Let’s lock the price of this Invoice so that the Total Amount of the Invoice will remain unchanged. As you can see, the field is grayed out, so we cannot check or uncheck it in the form. To lock the price, click Lock Pricing in the ribbon.
The Invoice form refreshes. Notice that Prices Locked field is now checked. If we need to uncheck this field, we can click Use Current Pricing in the ribbon.
Now, scroll down the form to the Administration tab. Notice the Opportunity and Order fields. Here, we can see the Opportunity and Order records that were used to generate this Invoice. We can use these lookup icons in the fields to associate records with this Invoice had it not been created from an Order record. Also, if there is another Order from the same customer we want to include in this Invoice, we can add it here and recalculate the Total Amount. For this tutorial, we’ll leave these fields as they are.
We have now locked the pricing of this Invoice and verified that the necessary data has been recorded. Let’s make one more modification to this Invoice. At this point in the sales process we can still make changes to the Total Amount. Say we were given clearance to give the customer a 10% discount. We can make that change in the Invoice Discount (%) field.
Scroll back up to the Totals area in the General tab. In the Invoice Discount (%) field, type “10”. In the ribbon, click Recalculate. The form refreshes and you can see that the Total Amount has been reduced to reflect the 10% discount. We also have the option to decrease the Total Amount by a fixed price in the Invoice Discount Amount field.
At this point, everything checks out. Once the customer has paid us for our Product, click Invoice Paid in the ribbon. The Paid Invoice dialog opens. In the Status Reason field, we’ll select “Complete”, and click OK, thus closing the dialog.
The Invoice form refreshes and the Status is listed as “Paid”. Notice in the ribbon that we still have the option to cancel the Invoice if the need arises.
For more information about the sales process in CRM Online, please watch “Creating a Quote” and “Creating an Order” in the Success Portal.
Thanks for watching.