Finances and Invoicing
How do the header and footer work on my client invoices?
When an invoice is added to a record for the first time The Provider and Notes fields on the invoice are automatically populated with the information set in the Header and Footer section of your settings. You can edit this information directly on the ...
How can I manage my taxes with Psylio?
As a self-employed individual, you are required to file a tax return each year. Although consulting an accountant is always advisable, the Psylio platform provides features that can help you organize your finances and save time. Track your income and ...
How can I generate a financial report?
To create a financial report on Psylio, follow these steps: Go to the Finances tab in the left-hand menu and select Reports. Choose from global, revenue, expense, and tax reports for your desired period (e.g., current year, previous year, custom ...
How do I set up compound taxes for my invoicing?
Set up your tax settings To configure the taxes for your practice: Go to Settings > Invoicing. Add your taxes by entering their name and percentage. Compound tax option If your province uses a compound tax, you can enable it by selecting the option ...
What happens to the financial records when I delete a client record?
Deleting a client record in Psylio does not impact financial records. According to the law, all financial data, including client payments, must be retained for 7 years. Therefore, even after deleting a record, client payments remain recorded in your ...
Is it possible to send a receipt to the client as soon as the invoice is marked as paid?
Absolutely! Here's how: Mark the invoice as paid by going to the Invoicing section of the client’s record. Find the invoice in question, click on the action menu on the right, and select Mark as paid. Check the "Send receipt by email" box at the ...
How to bill a guardian?
When you create a record for a minor, you have the option to add one or two guardians. You can also add them later by editing the minor's profile. When creating the invoice, select the name of the guardian. The name of the payer will be indicated on ...
How do I record an operating expense as a self-employed person?
This tutorial demonstrates the procedure for saving an expense and creating a new expense category.
Is it possible to record partial payments?
Yes, partial payments can be recorded on two separate invoices. Here's how: Create two invoices for the same service. Add a line on each invoice to subtract the amount paid by the other payer. Invoice for the first payer (the client, for example): ...
Can I use multiple different rates on the platform?
The platform offers multiple rate options for billing your clients: Set Your Main Rate: Go to Settings > Billing > Information to establish your primary rate. Assign Specific Rates to Clients: For individual client records, open the desired record, ...
Is it possible to do monthly billing?
Yes, you can include several services on the same invoice.
Is it possible to manage third-party payers?
Yes, absolutely! You can manage your third-party payers directly on the platform. Go to Settings > Invoicing > Third-Party Payers in your account. Add the third-party payers you collaborate with to the list. When creating or updating a client record, ...
How do I edit my billing address?
You can change your billing address by creating a new invoice in a client record and editing the information in the field located at the upper right corner of the invoice. However, this information must be edited manually when each invoice is ...
How do I manage tax application for multiple services on a single invoice?
For precise tax management on various services added to a single invoice, Psylio offers a flexible feature. You can enable or disable taxes for each service as needed. Before you begin: If you provide taxable services, set up your billing information ...
Is it possible for a client to pay for a session directly via the invoice?
Unfortunately, this is not possible at the moment. However, if you have a Paypal or Stripe link, you can copy it into the Notes section at the bottom of the invoice and the client can click on this link to make the payment.
Can the platform generate invoices in different currencies?
No, the platform can only generate Canadian currency for now.
How do I generate a payment receipt?
First, open the record of the person in question, go to the Invoicing tab and select Paid. Find the invoice for which you wish to send a receipt and locate the vertical ellipsis icon at the end of the row. Click on it to open the drop-down menu, and ...
Why are my revenues recorded according to the billing date and not the payment date?
In the vast majority of cases, your accounting method will require revenue to be recognized according to the date on which the service is rendered and not according to the date of payment. This is known as accrual accounting. According to the Canada ...
Can an invoice be deleted?
It is not possible to delete an invoice, whether it has been paid or not. However, you can easily mark it as cancelled. Cancelling an invoice: Open the client record and go to the Invoicing tab. Locate the invoice and open the actions menu. Select ...