Monthly Account Reports

Monthly Reports, Explained

Your monthly report is a personalized source of information about your business activity with Invoice2go. While these reports should not be used for accounting and taxes, they should provide meaningful insight into your business and how your cash flow is trending each month. We know how busy you are. Your new monthly report was designed to help you stay on top of your business, and save you time.

This article will explain your monthly report, how to read it, and how to get the most out of it.

Please note that, at this time, your monthly reports are not built for accounting purposes. The goal is to provide you with an additional reference and a new perspective on the health of your business.


Timing and Data Accuracy:

The data that you see in each monthly report is based on Invoice2go totals as of midnight on the final day of the most recent month, in Greenwich Mean Time (GMT). For example, a monthly report that is sent in the month of June will report activity that occurred in the month of May. Any activity that occurred after 12:00AM GMT on May 31st will not be captured in the report.

Data shown in monthly reports comes from your activity within Invoice2go based on the calendar year. If you maintain your business records with Invoice2go, your monthly reports will be accurate and beneficial for planning, tracking and goal setting.

Invoice2go is designed to help you stay organized, save time, get paid faster, and win more business, and your monthly report is intended to help you think about accomplishing your goals in each of these areas.


Your Monthly Revenue:

Your monthly revenue table shows a comparison of two rows of data:

  1. The total number of invoices that you sent in a given month, and the total value of those invoices.
  2. The total number of invoices that are marked as paid in Invoice2go, and the total value of those invoices that were paid.

The table is organized to help you compare these totals to the previous month, and the calendar year to date.

The accuracy of the data in the table is dependent upon your usage of Invoice2go. This means the following:

  • Any invoices that are not sent using Invoice2go will not be tracked. **Please note that if your clients prefer a printed copy, you will also need to send a digital copy to see it counted.
  • Any invoices that are not marked as paid, will not be counted as a paid invoice.

In order to see accurate totals and to get the most out of this table, always mark your invoices as paid in Invoice2go as soon as you receive payment. When you receive an online payment through Invoice2go, your invoice will be automatically marked as paid.

Invoices that are categorized as sent will have a ‘first sent’ date within the month being reported on. Please note that If an invoice is ‘re-sent’ from a previous month, it will not be recounted.

Paid invoices tracks invoices that are marked as paid within the month that is being reported on. This total may be independent of your sent invoices if you collect payments from invoices sent in previous months.


How to use your monthly revenue table:

Tracking your revenue on a monthly basis can be helpful when thinking about the health of your business, especially when comparing it month over month. Whether you are interested in job productivity, or just keeping an eye on cash coming into your business, the monthly revenue table can help you set goals and track your progress.


Collecting Payments:

Your collecting payments table shows the average time to get paid, and the total number of sent invoices that are not yet marked as paid.

  • Sent invoices that have not been marked as paid will be counted in your outstanding unpaid total.  
  • If you choose to delete an unpaid invoice, it will not be counted in your total outstanding unpaid invoices.
  • Invoices that have not yet been paid will not impact your average time to payment.


How to use your collecting payments table:

Money today is always better than money tomorrow. It allows you to cover upfront costs, or invest in your business’ growth. If staying organized and getting paid faster is a priority for you, tracking your average time to payment each month will help you know if you are moving in the right direction. Set goals for yourself to meet cashflow objectives for your business.


New and Existing Clients:

The new and existing clients table shows you the total number of clients that you worked with in the past month, how many of those clients are new customers, and the total average revenue per customer that you worked with. Tracking is based on the first time a client is sent an invoice, so new clients will only show up if they are being invoiced for the first time in the most recent month. Previously invoiced customers are considered repeat clients.


How to use your new and existing clients table:

What’s more important - new or repeat customers?

For most business owners, the answer is both. New clients mean more jobs, but repeat customers help keep your pipeline full and can take less time to win.

Use the new and existing clients table to track how you are splitting your time between new clients and loyal customers, and how that’s impacting your average revenue per client. You might find that loyal customers pay you more, or maybe that finding new customers is the key to winning bigger jobs.



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