The internal credit posting works well for us the majority of the time; however there are occasions when we need to issue an actual credit memo to clients.

Is there a checkbox somewhere I should tick for this?

What would also be appreciated is the following:
customizable due date, i.e., late payment notification for each invoice. For instance, most of our invoices go out on a set date for renewals. And setting 30 days or 45 days works fine. But for new business these customers have a different due date. We would want to put out late payment notifiers that would not be on standard terms.

Another item on the wish list is quarterly reports that compare our company’s data with earlier quarters. I don’t really find industry comparisons very useful. More important is to analyze one’s own business trends and I would imagine most business owners feel the same way. If I could compare my average invoice amount over three or four quarters this would be useful. And the same with total amount collected over the last four quarters. This is powerful information at my finger tips.

And one last item. Search ability. You have a nice search feature but this feature should be everywhere. It would save a lot of time.