We all like to receive payments. However, only a small number of people enjoy getting involved in the invoicing process.
Yes, we usually think that it takes too much time, but it`s a crucial step to getting paid.
It`s a simple idea: Make an invoice and get paid.
On the other hand, if you are a small business owner who is juggling several projects and the workflow in a few roles to keep the company running, then spending time on making invoices may seem like a lot of time to spend.
Luckily for you, today, we are sharing a couple of tips and tools that you can use to streamline your invoicing process.
Know the Billing Schedule
As you probably know, many companies have billing cycles that they are working with when paying clients. Your job is to send an invoice on time, during the current period.
There can be two types of invoices:
1. Recurring Invoices
When you have the same client and workflow for the same amount of payment and bill on the same day each time.
This is usually for ongoing projects, and with these kinds of payments, clients agree to pay you upon the billing interval, often weekly or monthly.
2. Upfront Invoices
This usually happens on a big project or when you start and work with new clients. You ask for half a payment upfront, and half a payment after the project is done.
This way, both you and your client are making sure that you will get the job done and then you will get your money.
We always hear about how we are losing trees; how we do care about nature and we say that it is a good cause, but what are we doing about it?
Do you know how many trees are being cut down to make paper invoices? What about in 20 – 30 years?
It`s a win-win situation for humankind and the environment. You will receive payments quickly, and the environment will stay safe.
Despite being obvious, you’d be surprised how many people continue to make these same mistakes. Here are 2 problems that can be easily avoided to get you paid quicker:
1. Put Clear Terms In Print
Make sure that you are very clear on every term and have agreed upon them with your client. Making sure that you are on the same page will avoid any further miscommunication.
Before you start and work on a project, make sure that you have all terms clear and on paper, all regarding payments, due dates, payment options, the estimated budget, payment intervals and any other thing that will help you to get paid on time.
2. Send Your Invoice to the Right Person
This can be a little tricky. Sometimes, you will talk about the project with one person, and you will send an invoice to that same person. However, your contact person may not be the one who is handling the invoices.
Big companies, notably, have an entire accounting department that handles payments. Imagine that you send your invoice to the CEO of the company; that’s not looking very professional.
When finalizing contract terms, make sure that you know who will be handling the invoices and make sure to send your invoice to the right person.
Final Thoughts with Sighted
It might take some time to figure out the best plan for you to handle your invoicing processes and get them to run smoothly.
Or, you can simply use our invoicing tool, here at Sighted, and get started right away, for free.
It’s easy-to-use, provides for secure payments, and can be automated.