Invoices are a big part of your business. After all, you aren’t likely to get paid without them, and you definitely won’t get paid in a timely manner if you don’t send clients invoices. Not to mention, keeping track of invoices is important when tax time rolls around if you want to keep Uncle Sam at bay.
Don’t let invoices fall through the cracks, and don’t stay late at work every night trying to make sure they’re paid and organized. These four tips will help you do invoices better so you can concentrate on other things.
Choose the Right Software
Your first step is to find the right invoice processing software. When you choose a system that works for your business, you’ll notice a day and night difference in how you deal with invoices.
The right program enables you to file invoices electronically, so you no longer need to worry about a filing cabinet full of paper.
It will also help you keep track of invoices in real-time. That way, you will know exactly when your invoices were paid, and which clients need a reminder. You can even manage invoices on the go, leaving you with less to do when you return to your desk.
Include the Right Information
An invoice obviously includes the amount that needs to be paid, but it should also contain additional information like:
- Payment due date
- Date of the invoice
- Description of purchased goods or services
- Customer’s contact information
Establish Clear Terms and Policies
The information included on the invoice is important, but you could argue that clear terms and policies for your invoices are even more important.
That includes ensuring your clients understand information like:
- What happens if they pay the invoice past the due date?
- What happens if they are unhappy with the product or service?
- Will you provide incentives for clients who pay early?
It’s important to outline all this information and provide it to each and every one of your clients and customers. That way, they aren’t surprised by a late fee.
Know Exactly Where to Send It
You probably spent a lot of time creating the perfect invoice and including all relevant information. It’s true that you should spend a lot of time crafting the perfect invoice, but it will all be for nothing if it doesn’t make it to its final destination!
It’s important to know exactly who to send the invoice to, exactly how it should be sent, and how it should be addressed. That way it doesn’t end up getting caught in a spam folder, or getting lost in a pile of paperwork on someone’s desk.
Your invoices deserve your time. The income from those invoices is what keeps you in business, after all! However, that doesn’t mean there aren’t plenty of ways for you to save time and do your invoices better. The tips on this list will enable you to rest easy at night knowing that your invoices are taken care of.