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Michaela from QuickBooks Live explains how to create an invoice for future payments from customers for products and services. The tutorial includes steps to add customers and products to the invoice, customize it, and send it. Additionally, it covers how to create an invoice using the QuickBooks mobile app. If the customer pays at the time of sale, a sales receipt should be provided instead, with another video available for that process. To start, select "New" and then "Invoice." The invoice form appears with contact information, which can be edited. Users can select existing customers in QuickBooks to autofill details.