THE TOP INVOICING TIPS FOR SMALL BUSINESS & FREELANCERS
Introduction For freelancers and small business owners, you may enjoy your work but you know that there’s more to your business than just that. You also need to get paid. That’s why it’s important for you to send out and receive payment on your invoices in a short amount of time. The financial aspect of your business is crucial for success, so today we’ll look at some surefire invoicing tips for small businesses and freelancers. You’ll be able to employ these effective invoice tips so you can get paid faster.
Use invoicing software Use invoicing software such as InvoiceBerry because: • • • •
it helps simplify the invoicing process you can track invoices paid and those that are late all your information is stored online for easy access you’ll never have to search for client information again
This is a simple no-brainer: you’ll no longer have to go looking around your home or checking your bank account history to keep up on your invoices and payments.
Determine policies Determine policies for all clients beforehand, and decide: • • • •
will you take payment upfront or afterwards how long will the project take what are the late fees will you deliver before or after payment
Without these, there will be lots of invoicing and client problems that will arise from time to time.
Send quotes before Different from your policy, you need to send specific quotes as: • you’ll clarify your and the client’s expectations • you’ll clear up and avoid any surprises or confusion • you’ll know clearly what you’re being paid for These specific agreements on a case-by-case basis determine exactly what your services are and what your clients pay for. With InvoiceBerry’s software, you can easily turn your quote into an invoice with just one click.
Number invoices If you’re not using invoicing software, number your invoices: • • • •
it will help with your record keeping use numbers, letters, dates, or any consistent system do not start with “001” as you’ll look inexperienced start with your favorite number, such as “0024”
These will help you by keeping good records and also, with the numbering system, making you look more professional and experienced.
Use simplicity Don’t be too creative in your language or invoice layout: • • • •
don’t use strange language that will confuse the client if it’s for wedding pictures, write “wedding pictures” don’t use unpleasant layout - remain simple balance color, individuality, and simplicity
It’s fine and advisable to have a personality and remain individual, but don’t take it too far. You can check out our list of free downloadable invoice templates and choose your favorite.
Add overdue fees Include, as part of your policies, charges for late payment: • • • •
it can be a specific amount or a percentage it can be gradual; e.g. after 15 days, 30 days, 35 days use shorter terms - not 30 days late fee, but 15 days charge yourself if you’re late in the form of a discount
This will help both you and your client to stay on track and make for much happier clients - which means more business for you.
Invoice as marketing You can use your invoice as a marketing tool. Check out the infographic below to find out more:
Record payments If you don’t have a system, you won’t really know who’s paid or when. Record all payments receive: • don’t rely on memory or bank account credit • mark invoice as paid immediatley after receiving it • keep track of late payers and apply late charges InvoiceBerry’s online invoicing software does this on its site, so it’s easy for you to do it as soon as you get payment.
Payment reminders Send polite payment reminders to your late clients, always: • don’t feel guilty about reminding them • lateness could be due to possible oversight by them • use polite, professional, non-pushy language When you use polite language, people are more willing to send payment. It is easy to send payment reminders through InvoiceBerry, so you don’t have to spend too much time wondering about how to formulate it.
Call if necessary When the second late payment email is unanswered, and now the third, it may be time to call the client directly: • be polite throughout emails and phone calls • however, do not be afraid to be firm but professional • again, do not be ashamed - it is only business Services rendered equals money paid, so be firm in your attempts to get paid, and do not give too much leeway to very late customers.
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Top Invoicing Tips for Small Business and Freelancers
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