The Action Button in Lazy Paper's Designer Account offers a powerful feature to generate invoices and contracts seamlessly. Once a client confirms a quotation, the action button's 'Confirm' option updates its status. Subsequently, the 'Document' option becomes available, allowing users to generate necessary documents based on company payment terms. Users can instantly create an invoice, export it as a PDF, and send it to the client. Additionally, a renovation service contract can be downloaded as a Word document for client signature. This functionality ensures efficient management of documentation, enhancing overall project workflow.