Financial Cents Billing covers invoices, proposals and engagement letters, online payment collection (cards and ACH), and project-based billing for tracking profitability per engagement. Owner roles are required to complete the billing application and configure payment settings — team members can create and send invoices once billing is set up. Connecting QuickBooks Online is optional; you can use Billing fully without it.
Step 1: Complete Your Billing Application
Before you can collect online payments, you need to complete a KYB (Know Your Business) verification.
Navigate to Settings > Billing.
Click Get Started (or Complete Application if you've started previously).
Fill in your business information as prompted. This includes your business name, address, EIN, and representative details.
Submit the application.
ℹ️Heads up. Approval is usually instant. In some cases it can take up to 72 hours. If additional information is needed, our support team will reach out to you directly.
Common reasons for a delay include:
A data mismatch between what you entered and business records
Entity verification requirements (e.g., LLC vs. sole proprietor)
Enhanced review triggered by the type of business or processing volume
You do not need to do anything while your application is under review. Financial Cents will notify you once it's approved.
Step 2: Configure Invoice Preferences
Once your billing application is approved, configure how your invoices look and behave.
Navigate to Settings > Billing.
Review and configure each of the following settings:
Setting | What it controls |
Starting Invoice Number | The number your first invoice will be assigned (e.g., 1001). If you sync invoices to QBO, Financial Cents will pick up the next available invoice number in QBO. |
Currency | USD or CAD (applies to all invoices on your account) |
Billing Email | The reply-to address shown on invoices |
Billing Address | Your firm's address printed on invoices |
Allowed Payment Methods | Which payment options clients can use: ACH bank transfer, credit/debit card, manual/offline. Enable or disable per method. You can also toggle Enable Partial Payments by Default here. |
Default Tax Code | The tax code automatically applied to new invoices |
Default Due Date | Default payment terms in days (e.g., 0, 15, 30) |
Representative | The team member listed as the billing contact |
Client Reminders | Automated reminder schedule for unpaid invoices |
Email Template | The default message sent with invoices. Supports variables: |
Click Update Preferences after making your changes.
⚠️Please note. All invoices on your account use the same currency. You cannot mix USD and CAD invoices on a single account. Choose your currency carefully before sending your first invoice.
Step 3: Set Up Service Items (Recommended)
Service items are reusable billing line items you define once and reuse across invoices and proposals, for example: "Monthly Bookkeeping: $500/mo" or "Tax Return Preparation, $750."
Navigate to Settings > Billing and open the Service Items tab.
Click New Service Item.
Enter a name, description, rate, and tax setting for each item.
Click Save.
💡Pro Tip! Setting up service items before you start invoicing will save you significant time. See our full Service Items article for details on managing and organizing your item library.
Step 4: Connect QuickBooks Online (Optional)
If your firm uses QBO, you can sync invoices automatically so your books stay up to date.
Navigate to Settings > Integrations.
Locate the QuickBooks Online integration and click Connect.
Authorize the connection in the QBO authentication window.
Once connected, enable Sync Invoices to QuickBooks Online.
Select your Deposit Account (where payouts are recorded) and your Expense Account (where processing fees are recorded).
Click Save.
💡Pro Tip! See our QuickBooks Online Sync article for full details on how the sync works, what gets pushed to QBO, and how to handle sync errors.
Step 5: Enable Project-based Billing (Optional)
If your firm bills by engagement and wants to track profitability at the project level, Project-Based Billing lets you link invoices to a specific project, set a dollar budget, and view realization data directly on the project page.
Navigate to any project in Financial Cents.
Open the Billing tab on the project page.
Link one or more invoices to the project using the invoice association controls.
Optionally, set a Budget (dollar amount) for the project.
View realization data, billed vs. budget, directly on the project's Billing tab.
💡Pro Tip! Project Based Billing is especially useful for fixed-fee or project-based firms who want visibility into which engagements are profitable. You can link existing invoices to a project retroactively; they don't have to be created from the project page.
Step 6: Send Your First Invoice or Proposal
You're ready to go. From here you can:
Create an invoice: navigate to Billing > Invoices and click Create Invoice. See our How to Create and Send an Invoice for a full walkthrough.
Send a proposal or engagement letter: navigate to Billing > Proposals and click New Proposal. See our Proposals & Engagement Letters article for details.
ℹ️Heads up. You can create invoices for clients who do not have an email address on file. If a client has no email, Financial Cents will prompt you to either add one or proceed without sending an email notification.
Need Help?
Book a walkthrough with our payments team. They can also help migrate existing invoices and payment methods: Book a call
Chat with support anytime using the in-app chat widget in the bottom-right corner.
See all Billing articles: Billing FAQ's | Service Items | QBO Sync | Proposals & Engagement Letters