Whether your company’s services are straightforward or complex, there are several methods you can employ to improve your invoicing process. Check out the following four ways to make your invoicing run smoother.
Using an Invoice Template, e.g. for Plumbing Services
When your invoicing process involves handling multiple spreadsheets or hand-written invoices and you have lots of elements to keep track of, you can soon run into problems. It is absolutely essential that your invoices are accurate, for your own sake as much as your clients. And without an effective invoicing procedure, businesses of all kinds, from law firms to plumbing companies, can spend a lot of time and energy just trying to get paid.
One of the best and simplest ways of improving your invoicing system is to use a template. Check out this plumbing invoice template for a great example. When you use a blank template to create invoices, you have a consistent format and a professional aesthetic. But most importantly, a blank template allows you to ensure all necessary information is accurately included on every invoice.
Including Specific Payment Due Dates
When you do not pay attention to the details of your invoices, it can slow down how quickly clients pay you. So, it is important you include a specific due date on each invoice so that you can make sure you are paid by that date. However, using words like “due on receipt” can come across as pretty abrupt and cause additional problems if your client does not have the funds for a further week. So, use a specific date, but ensure that the due date is several days past the date of your client receiving the invoice. Companies often use a ten-day window. To streamline the invoicing process and ensure accurate due dates, consider using an efficient invoice generating tool.
Establishing Clear Payment Terms
You are sure to enable various ways for clients to pay you, whether it be cash, check, card, bank transfer, or a more modern method such as using e-wallets or cryptocurrencies. But whatever payment methods you accept, make sure your client is fully aware before you begin work. It is not only the method of payment that is important but all payment terms. Ensure both parties are entirely clear about the payment terms so that you do not experience any delays or other problems when you send the invoice. Having more payment options also allows you to gain access to a wider pool of clients.
Automating the Invoicing Process
Every year, more and more businesses use automation to streamline their operations; and that includes invoicing. If you send out a lot of invoices each week or month, you should definitely consider automating your invoicing process. It will save you a lot of time when your invoices are generated and sent out automatically.
Furthermore, when you do not use an automation system, you will often have to spend valuable time sending clients follow-ups for unpaid invoices. Again, that time-consuming problem is solved when you use automation tools. So, you can easily set reminders as well as schedule invoices, and keep track of multiple invoices at the same time when you automate your process. There is a lot of different invoicing software available, so make sure you choose the right solution for your needs.
It is recommended you use a cloud-based invoicing automation option so that anyone with access can work on invoices anywhere and anytime. Furthermore, when you use automation software options, many allow you to track time against projects and clients that is then automatically converted into tracked time on the invoice. With such helpful integrations, your workflow is improved and you are able to accurately capture all billable hours.