What
Fast, accurate, and effortless invoicing for recruitment businesses. Manage invoicing for Timesheets, Expenses, or Fees.
No monies or funds are sent or received through Mercury Pay & Bill, however we have an integration that will move Invoices over to most financial systems.
Where
Select the current app from the header beside the Mercury logo, and select Pay & Bill
NOTE: Pay & Bill is only available for specific Finance User (as defined by ‘Mercury – Sales Order Processing’ security role).
How
Consolidating Invoices (coming soon)
Invoice Details
Within Invoices, there will be both Sales (Charge) and Purchase (Pay) invoices.
The following example is of a Sales Invoice. The data within invoice records is automatically pulled from the Placement or other related record(s).
INVOICE INFORMATION
1 Follows the format of: Candidate - Date Range - Client.
2 Indicator confirming if the Customer self bills.
3 If paying from a different entity than the client - e.g. a branch within a different country or different a company name and trading name (i.e. PricewaterhouseCoopers International Limited / PWC).
PAYMENT TERM INFO
4 Posting Date: the date the record entered the system - this is beneficial for invoices going in to the correct tax period.
5 Payment Terms: defined on the Contact record which then populates the Days to Payment (locked) field.
PRODUCTS
Products indicate the different ‘rates’ the Individual worked during that period.
NOTE: Open these Invoice Product records to view any Tax (VAT) applied. Any Tax Codes applied are sourced from the Client record but can be changed.
6 The Product Name will include: Rate Type, Invoice Product number, Candidate, and date range. This is a locked field.
7 Quantity is the frequency in relation to the rate type, e.g. days for 'Standard Daily' and hours for 'Overtime Hourly'.
Sending an Invoice
1 Once all required details have been checked/added, select Send Invoice to generate paperwork which can be sent to the recipient.
This side panel will then show:
2 Select an Email Template that can be used along with a Document Template which will be used as a template for the Invoice. Multiple template types can be created with different branding / headings etc. for full configurability.
3 Tick Send Emails? to send after clicking Confirm, or untick to save as a draft to send later.
NOTE: For Sales invoices, the email will be sent to the invoice Contact. For Purchase invoices, the email will be sent to the Candidate company.
4 The Email & attached Invoice will appear within the Timeline of the Invoice. Invoices are always created as PDFs to prevent editing.
5 The Status Reason of the Invoice will then be automatically updated from New to Billed indicating an Invoice exists.
If any supporting documentation was added to the Timesheet or Expenses, these will be copied down to the Invoice, allowing you to attach these documents prior to sending.
Where: Related tab > Documents. When: As soon as an Invoice is created. How: Any documents on the Timesheet are copied within the Invoice document
Marking Invoice as Paid
1 Once monies/funds have been received, select Invoice Paid Date, a side panel will open.
NOTE: There is another ribbon button with a similar name - Invoice Paid - please ensure you select the correct one.
2 Select the date the invoice was paid and click Submit.
Cancel or Credit an Invoice
1 If the invoice created is incorrect (e.g. wrong value entered), select Cancel Invoice from the ribbon
2 Select a Status Reason (Credited or Canceled) then click OK.
This will update the Status and Status Reason for the Invoice.
3 When an invoice is Credited, a new copy of the invoice is created with a minus amount and the Invoice Name is prefixed with "Credit". To request credit, send an invoice. Currently, At the moment only a full credit can be invoiced, meaning the whole invoice will be returned and then a new Invoice has to be issued.
Consolidating Invoices
Coming soon.
END