Summary: Invoicing is integral to every business company. It proves that you are demanding payment against products that you sold or services that you provided. You can take things up a notch higher just by implementing an invoice receipt maker. With it, invoicing would not consume as much of your time as it used to earlier.
Are you wondering how to create an invoice online for your business? Whether you run a large multinational corporation or a small business, invoicing is one of your priorities. Web-based invoicing will allow you to receive timely payments for goods sold or services rendered.
Around 39% of reimbursements against invoices in the US arrive late. Also, 48% of customers delay the payments. You may be thinking about what these statistics have to do with you. Well, online invoicing can prevent your business from joining these sufferers.
In this blog, you will learn how you can invoice your customers for free.
Continue reading to find out!
1. Build Invoice Effectively
On average, small businesses suffer from a cash flow chokehold. Most companies wait for an average of $5,000 per month in overdue payments. Hence, whenever you create custom invoice online, make sure that you add the following information.
After all, invoicing is the key to receiving timely payments.
A unique number
Every invoice should have a unique number. It will help you keep track of the number of invoices you send to a client. The number will even allow you to segregate unpaid bills from the paid ones.
Business contact information
Add pertinent data about your business on every invoice. You may include the contact details of your bookkeeper or accounting executive too. It will let customers contact the right person if they have any questions.
Client contact information
You should use every possible chance to address your invoice to a specific individual. Include the person’s name, email address, and phone number.
Tax ID of the business
Some customers may require your company’s Tax Identification Number or TIN for their accounting purposes. Therefore, you may think about adding your tax ID to the invoice. Dates
Add the dates when your client purchased goods or services from you. Also, include the dates on which you send the bill as well as for payment due. It will provide clear details to your customer and inform them about the time gap between invoicing and payment.
List of expenses
Include details on everything for which you send invoices. Note the differences between prices, supply costs, hourly charges, transportation expenses, etc. In doing so, you will surely get paid online.
Tax line
Your business may have to pay local or sales taxes or products and services that you provide. So, you should break the amounts on separate lines and include tax rate percentages.
Total amount due
You should use a bold font to write this line so that your customer can’t miss it.
Preferred payment methods
Finally, you should allow your clients to choose the payment method they prefer. You will receive your due faster if you can add web-based payment systems, such as credit/debit cards, PayPal, Stripe, etc.
2. Perfecting Your Online Invoicing
Invoicing in the right way will help you impress your customers with your punctuality and professionalism.
Since every point of client interaction reflects how you do business, you need to make the most of this opportunity.
Avoid surprising them
Always ensure that your customer is expecting an invoice. The document should disclose the amount you charge for every commodity. An invoice should resemble a map that takes the customer back to your price list or original estimate.
Follow delayed payments
If you want to send invoices and get paid, then you must follow overdue payments. The statistics on late payments are staggering, to say the least. Naturally, you can’t hesitate to follow delayed payments.
Check the dates
Add the date prominently as it’s the first thing that’s visible. Your company’s logo and contact information should follow it. The date will tell your clients that they shouldn’t delay in paying you.
Transparency over design
You may consider designing the invoice to make it more presentable. However, clarity is much more crucial. The content of the invoice must include specific identifying features, such as your logo. Fortunately, an invoice receipt maker app lets personalize the bill by branding it.
Explain in detail
Proper communication is vital when it comes to invoices. Include all itemized products or services, expenses, fees, costs, and relevant dates. These details will reduce disagreements and ensure that you get the money you deserve.
Final words
Invoicing is more than just paperwork. It’s the lifeline of your business. While using an invoicing software program or mobile application, you must include everything mentioned above. In doing so, you will create stellar invoices that will get you the money you deserve for your hard work.
