If you are a business owner you understand how important invoices are. You won’t get paid for your work until you provide an invoice that explains what you are owed.
An incomplete or hard to read invoice can cause notable delay in payments. Clean and complete invoices are always beneficial for the business saving, time and money. Use the following simple methods that will make your customers ready to pay you instantly.
Use an Invoice Template:
There are hundreds of ready templates available on the internet to assist you. You can find the best suitable one with just a click of a button. The invoice templates will help you keeping all the important factors in place in an organized way.
You can research how other companies are creating their invoices and with some improvements create your simple appealing invoice.
Use an Invoicing Software:
Technology is advancing day by day and this advancement is replacing manual methods of invoicing with automation. Softwares usually have builtin customizable templates. You can use and edit these templates according to your needs.
OCR (Optical Character Recognition) is taking place for the manual invoicing process. You can create new invoices; scan the existing ones with the OCR feature and save the data in the cloud for future use.
Keep Good Records:
Nothing can affect more the invoicing process than poor record keeping. If you forgot to write down what you have billed last week will cause you a lot of time and slows down the process. Going through past paperwork to find orders, sales or other information also can make delays if not recorded properly.
Always keep good records on hardcopies, Excel sheets or use online software for this. If you want to make good invoices you’ll be needing all the crucial information on your fingertips. It would be a lot easier to track what’s been paid.
Get the Contact Information Right:
Your invoice should have your business name, address, phone number, and email near the top, along with your company’s logo. This makes it easy for customers and customers to pay you or contact you about the amount owed.
Also, make sure you include the name and address of the person or business that owes you the money. In many companies invoicing and accounting, tasks are distributed among many different employees. If you don’t provide the information about the right person receiving it, there is a chance your invoices will be rotting at someone else desk, prolonging the payment process.
Include the Amount Due and an Explanation:
Most of the companies usually receive a lot of invoices daily. You can only stand a chance to get paid quickly if your invoice is simple clear and better than others. It is important to mention what this invoice is for. For Example
- If your customer or client has an internal account number, project number or order number assigned to the item you’re invoicing for, include that number.
- Include a brief description of each product or service you’re invoicing for, along with the price of that item.
- If multiple items or jobs are included in a single invoice, list them separately.
- If you are required to charge sales tax, or if there are shipping charges, list these separately.
You should mention the due amount prominently. If you have some special or extra items delivered mention them separately.
Set a Due Date:
Adding due date will help your customer analyze this is an unpaid invoice. So avoiding the confusion is the best option at hand.
Many invoices are due 30 days from the date sent, but 60 days also are common. Give your customers a reasonable time just don’t be impatient to annoy them.
Include Payment Methods:
It would be a lot better to mention the payment method thus saving your time and person paying you. The right payment method will be also in your advantage and create convenient for you to have your payments your way.
For example, it can be difficult and to visit your customers every time you receive due payments. You can have online transactions wired with your account directly.
Smart invoices are processed earlier than incomplete and hard to read invoices. Use technology to automate the invoicing process. You will be able to focus more on your business more, without facing the stress of delayed payments.