Visionary 360 Blog

Invoice Group – A new feature for ConnectWise Manage

Invoice Groups – Now available in 2020.4

 


!!  Beginning note:  There is a known issue with sub items and is noted in “Known Issues”.  Unchecking “Show Sub-items” does not prevent them from showing on the invoice.  The article for reference is:  https://university.connectwise.com/university/reports/knownissuesdetail.aspx?ticketId=14192655  We will provide an update to this blog when the issue is corrected.


We at Visionary 360 are excited to have this function FINALLY available for ConnectWise Manage users.  Since the creation of CWM, it has been desired to “Hide” items known to most as “Bundling”.  For managed services, this can be crucial for building your solution package but not displaying the pricing of the subcomponents.  For this blog we will focus on using Invoice Group within Agreements, future blogs will show other areas in which this feature can be used.

If agreement addition products are tied to integrations, they most likely will be using a manufacture product ID.  API Integrations allow automatic updating of Agreement Products to keep counts correct, eliminating the administration overhead of keeping Agreements correct.   When multiple products are used to build a solution stack, such as DNS Filtering, Spam Filtering, Dark Web Monitoring and Email Security Awareness, it would be sometimes desired to use a white labeled naming scheme to hide these products yet fully describe the solution stack.  This method allows the use of API integration of Agreement products for keeping accurate counts, while using the retail price from each included product to build the solution stack price, along with including associated product costs within the agreement.

Here is a quick before / after example of using Invoice Groups.


Before Invoice Group:

Agreement Details                                 Quantity                       Price                      Amount

Managed Workstation                                 7                              $75.00                   $525.00

Managed Server                                          2                              $150.00                 $300.00

Cisco Umbrella DNS Filter                           9                              $10.00                   $  90.00

Proofpoint Email Filtering                           7                              $3.00                     $  21.00

Webroot Antivirus                                       9                              $3.00                     $  21.00

$684.00


After Invoice Group:

Agreement Details                                 Quantity                       Price                      Amount

Managed Workstation                                   7

Managed Server                                            2

MSP Security:  Antivirus, Spam &
DNS Filtering, Dark Web Monitoring
and Cyber Security defense.                                                                                     $684.00


To get started, navigate to Procurement > Product Catalogue > Invoice Group tab

Step 1:  Build your Invoice Group ID starting with a name.  This name will be visible on the invoice like a product would.

Next choose what options are desired to give the intended outcome for your Agreement Invoice.

  • Show Price: Displays the individual prices for each product included in the invoice group.
  • Show Sub Items: Displays all products included in the invoice group.
  • Inactive: This deactivates this Invoice Group item, preventing it from being used within the CWM system.

Step 2:  Open an Agreement where Invoice Grouping is desired.  Finance > Agreements > Select Agreement then select the Additions tab.

Select each product that should be included within the new Invoice Group.   From the Actions drop down menu, select “Add Additions to Invoice Group”.

Now from the drop-down selection, choose the desired Invoice Group to which will be used with the selected products.  Save & Close after the selection is made.

Now wait for the products to be added to the new Invoice Group, then close the pop-up window.

Step 3:  Agreement invoicing.

With the addition of an Invoice Grouping item to the Agreement, it now can be invoiced.  For this example, the Agreement has 2 Invoice Group ID’s Used.  The first showing sub items but no price, and the second not showing Sub Items or price.

 

About Visionary 360

Visionary 360 is a team of veteran coaches focused on the technology sector, mainly IT Service Providers, helping to successfully implement their tools more effectively with a financial focus.

We are problem solvers who love helping people, doing the impossible while having fun doing it.  We engage with our clients like they are family.  We love working with them, watching their companies grow.  There is no greater reward than seeing our clients prosper.   To learn more about Visionary 360, visit our website at www.visionary360.com or setup an introductory meeting to discuss your needs.

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