This is the concern for most of us, tiny business owners or startup solopreneurs, to get paid in a timely and organized fashion. It’s easy for a business not to make the organization a profit churning machine due to a lack of cash flow, overdue payments, and a lack of proper accounting.
To avoid these mishaps, planning for efficient invoicing customers is essential. Each business is different; hence, it is no use to ask or follow the invoicing practice of a business that is doing good. Moreover, you should rely on a system that can easily integrate with your business or company & as per your method of working.
Steps we recommend to prepare yourself for efficient invoicing
1. Maintain accuracy
The best efficient invoicing practice requires you to know what work has been done. You might forget at the end of the month about the work done at the beginning, so you need to track work as you go along efficiently. For freelancers and solopreneurs who sometimes bill per hour, make sure you use time-tracking software to keep a tab on work completed. Use time-management platforms to maintain accuracy in your tasks.
2. Decide invoice frequency
Invoices are sent more frequently for products as opposed to services. You can crack a new deal with different clients but adhere to invoicing terms to maintain uniformity. Moreover, cash flow is essential for any business, so we recommend not to keep too much time between invoices. Once or twice a month is the advisable time difference. Make sure to send the first invoice as soon as the work is done and you have set it. Sending an invoice long after the work was done will interrupt the cash flow and may cause billing issues for your clients or vendors.
3. Accepted payment methods
Again, we would like to remind you that the easier and more convenient you keep payment options, the more likely you will get paid fast. You can accept various payment options such as credit cards to PayPal and other online channels for experiencing efficient invoicing.
4. Never miss the “Payment Due By” date
Never leave it up to chance when it comes to payment; hence, let your customers know about payment within, say, 14 days or Net 30 or Net 90. Additionally, never miss to include an actual payment due date on the invoice. This will conveniently let a customer know and avoid confusion about when you expect payment. For payment overdue, you can charge a late fee or, even more effectively, offer a discount for early payment.
5. Create professional-looking online invoices
For your clients to take your business service seriously, you need professional-looking invoices. Make sure that they include all the relevant information and are quoted. Using the best online invoice generator is the easiest way to not only make sure that your invoices look perfect but also you can customize them.
6. Personalize invoices
Large companies have many departments and dedicated resources wherein there are chances that the concerned person might change or not be aware of whom they have received invoices.
It is better to make your acquaintance in the accounting department.
Since the person now “knows” you, your invoice is personalized and gets first place attention when they receive it.
Just download the Moon Invoice app for the respective platform, i.e., iOS, Android, Mac OS, or Windows. Enter details of customers, vendors, stock, etc. Define buy/sell price per your requirements and send quick and easy online invoices to experience efficient invoicing.
– Manage multiple businesses
– Quickly import, export, print, and offline sync
– Create and manage your custom settings
– Manage multiple payment options
– Precise insights & reporting capabilities
Efficient invoicing makes good business sense, and with Moon Invoice, it sounds even more intelligent.
Clients’ expectation never ends. Hence, at such short notice, the Moon Invoice app can come in handy with its multi-purpose features and functionality to efficiently eliminate delays or barriers in sending online invoices. Moreover, its seamless payment operationality builds trust amongst clients to use the services repeatedly.
After experiencing efficient invoicing from Moon Invoice, you are guaranteed to subtract payment-related issues and enhance the invoicing solution.