Businesses hate the fact that 60% of invoices are paid late, but it’s an important statistic to know. Your customers might pay invoices late because of a fault of your own.
If you forget to include important details on an invoice, clients won’t know exactly what to do and when. So, how do you create an invoice that gets you paid on time?
Keep reading to learn tips on making a business invoice.
Table of Contents
Find the Right Program
The key to making a business invoice is finding the right program to use. Creating an invoice from scratch is an outdated way of doing things now that programs exist.
A reputable program will allow you to create an invoice and use invoice templates to help you get started. You can also find software that allows you to set up recurring invoices for certain customers.
Implement Consistent Policies
To appear as an expert in your field, you need to set specific and consistent policies for your invoices. However, it’s important to implement policies that you and your clients agree upon before doing business.
Don’t surprise your customers with new invoice payment terms without speaking to them ahead of time. Let customers know about your grace period and late fees in writing.
Accept Various Payment Methods
The business invoicing process runs a lot smoother when you accept a wide variety of payment methods.
Consider what options are best for your customers rather than only thinking about what is best for you. Credit, debit, Payoneer, PayPal, and cash are among some of the popular payment methods.
Accepting various payment methods ensures that you get paid on time. The payment amount and due date should always be outlined in an invoice.
Always Add Your Contact Information
Always include invoice contact information such as your business location, business name, telephone number, and email to your company.
If a client has any questions or concerns about an invoice they received, they’ll know how to contact you right away. Implement an invoice number label as well to track which invoice your client is trying to discuss.
Along with your information, you should put down the client’s information as well. These “Bill To” details should be near the top of the invoice.
Include an Issuing Date
An issuing date, or date of the invoice, will help clients remember when work was completed or when a purchase was made. The date also identifies the beginning of the grace period for payment.
Even if you discussed payment terms in-person, you’ll want to list them on your invoice as well. The industry standard for payment upon receipt is 90 days.
Making a Business Invoice With Ease
Making a business invoice begins with finding a program to use. Preferably, a program that has templates so you don’t have to create an invoice from scratch.
Once you have an outline, you can add important details like your policies, payment methods, contact information, and issuing date.
With all of these considerations, you’ll have an invoice that has a better chance of being paid on time. For more articles like this for businesses, check out the other posts on our website.