If you struggle every month to collect the payment that you are owed by your customers, one of the ways that you could increase the likelihood of being paid on time is to improve your invoicing. The best way of doing this is to start invoicing via software.
Whenever your business sells a product or provides a service to someone, you need to provide them with an invoice. Invoices not only inform the customer how much they need to pay but also give you and your customers a record of the tax related to that sale.
There is certain information that you should always include whenever invoicing somebody. The name of your company should be somewhere on the invoice, along with the date and a unique reference number for the customer to refer to in case they need to query it. The purchasers name and a description of the purchase must be included, along with the total cost. Don’t forget to state the payment terms for the invoice to avoid ambiguity over when it should be paid.
If you have received invoices from small businesses or tradesmen in the past you’ve probably noticed the quality of these can vary greatly. Some companies put a great effort into making their invoice stand out from the pile and treat it as an additional form of marketing. Switching to electronic invoicing will make the whole process far easier and allow you to be more organised.
It allows you to send professional looking invoices to your clients and keep track of who you have invoiced. This will avoid confusion and make you less likely to forget to invoice clients. It is also possible to send automatically recurring invoices to your repeat customers, saving you time and hassle.