Are you a small business owner? Chances are, you’ll need to invoice your clients at some point. Whether you’re a freelancer or running a brick-and-mortar store, invoicing is an essential part of doing business. Many small business owners, especially those who are just starting out, don’t know where to begin when it comes to invoicing. Learning basic concepts is the first step to creating a good invoice. If you are a new business owner, below are top five things that you should know about small business invoicing that will help you get started.
Use Professional Invoice Templates
When it comes to billing your clients, first impressions matter. By using a professional and well-designed invoice template, you can give your business a boost and make it look more credible in the eyes of your clients. Professional templates such as free invoice template word, can help you create a well-designed template that is clear and easy to read. This template is designed to help you save time by including all the key elements that should be included in an invoice. Choosing the best invoice templates also means choosing one that is compatible with your accounting software. This will make it easier for you to track payments and manage your finances.
Decide When To Invoice
Create and send your invoices as soon as the job is completed or service has been provided. As a result, your client will have a clear understanding of what they are being charged for and will be more likely to pay the invoice on time. If you wait too long to send an invoice, your client may have forgotten about the work you did or the service you provided.
However, if you are selling products, you may want to wait until the product has been delivered before sending an invoice. Majority of businesses choose to invoice on a monthly basis, but you can also choose to bill weekly or bi-weekly. This will help you keep track of your finances and ensure that you are getting paid on time.
Set Clear Payment Terms
Before doing anything for your client, it’s important that you agree on the payment terms. This includes specifying the method of payment, the due date and any late fees that may apply. It’s also a good idea to put these terms in writing so that there is no confusion later on. This information is very important when designing the invoice. The customers will have the background information about the payment terms and will ask questions about what they are being charged for.
Allow Multiple Payment Methods
Nowadays, there are many different ways that customers can pay for goods and services. So, it’s important to offer multiple payment methods on your invoices to make it convenient for them. Some of the most common payment methods include credit cards, debit cards, PayPal and bank transfer.
By offering multiple payment methods, you are giving your customers the flexibility to choose the one that is most convenient for them. You can also include a “pay online” button on your invoices that will take the customer to a secure payment page. The easier it is for the customer to pay, the more likely they are to do so on time.
Add A Personal Touch
If you want your customers to remember your brand, make sure your invoices are outstanding. By including important details such as your company logo or a tagline, you will make a lasting impression. With a well-designed invoice template, you can add colors and fonts to make the invoice more visually appealing. You can also include a thank you message or any other special instructions that will make the invoice stand out.
By taking the time to add a personal touch to your invoices, you are showing your customers that you care about them and their business. This will go a long way in building a strong relationship with them.
As a small business owner, it’s important to keep these things in mind when creating invoices for your customers. Following these tips will help you create invoices that are professional and easy to understand. You will also be able to track payments and manage your finances more easily.