window._mfq = window._mfq || []; (function() { var mf = document.createElement("script"); mf.type = "text/javascript"; mf.async = true; mf.src = "//cdn.mouseflow.com/projects/0148bb62-7ff8-46ae-a466-bf3fd13c7d09.js"; document.getElementsByTagName("head")[0].appendChild(mf); })();
407-478-6600    Get SUPPORT

TaylorWorks Blog

Tip of the Week: How to Improve Your Invoicing Processes

Tip of the Week: How to Improve Your Invoicing Processes

One of the most important considerations in any business is to ensure that payments are properly received and processed. Otherwise, you may as well not be in business at all. To help expedite this, we’re dedicating this week’s tip to creating a better, more effective invoice. Let’s get into it.

How to Create Your Invoice
First, you need to have some way to actually construct the invoice document itself. For this, you have some options. If you use Microsoft Office products, both Excel and Word have templates you can use to put it together, and G Suite users can leverage any number of integrations to do the same. Alternatively, there are many software titles out there that offer more specific functions based on need and preference.

Once you have selected your software, you can start to put your invoice together. You will want to be sure that your invoice includes the following information:

  • Description - You want to be crystal clear on your invoices about what you are billing for, especially if part of it refers to time spent rendering a service. This will allow you to properly bill your clients while allowing them to understand exactly what they are being billed for, cutting back on how often your invoices are contested. Overall, every invoice should include the order number it refers to, the total amount owed, how the invoice can be paid, and when payment is due.
  • Discount Details - If you are offering any discounts, you will also want to make sure these are clearly annotated on your invoices as well - especially for those who are first signing on to your services. Otherwise, these discounts may confuse your clients and instill a false expectation for the future - creating surprise and frustration when the discounts are gone later.
  • Schedules and Policies - Just as you were held to a schedule to deliver your service, your client needs to be held to a schedule to pay for it. Consistency will also help your client prepare their payments on time. On a related note, your invoice should thoroughly explain your company policies on discounts, late payments and associated fines, and due dates to make your expectations of the client very clear.

Of course, this isn’t everything that can, or should, go on your invoices. However, these aspects are crucial enough to be mentioned and detailed separately. You should also consider other elements to include on your invoice, making use of what would otherwise be blank space. You may consider adding a more personalized touch and suggesting the next steps that a client should take, based on the services you are billing them for.

Furthermore, add some more of a personal touch by including some kind of thank-you message on the invoice. Write up a brief piece thanking your client for their business and have it printed on the invoice. Not only is this a visible way to earnestly say thank you, the appreciation you show may help to expedite payments and encourage repeat business.

When and How to Distribute Your Invoice
If you want to receive your payments on time, how you send your invoices is just as important as how they look. First and foremost, they need to be sent much sooner than later.

If yours is like many businesses, you may have found that your invoices go unpaid for long stretches of time. Estimates put the total of unpaid invoices to small businesses at well over $800 billion, and that was back in January of this year. This is why it is crucial that your invoices are distributed efficiently - it may be a long time before you get them back.

This is another reason that technology solutions are useful tools to assist you in managing your invoices digitally. Most invoicing software will likely enable you to track the status of the invoices you’ve sent.

If you want more assistance in managing your invoices, reach out to TaylorWorks. We’d be happy to assist you, all you have to do is call 407-478-6600. In the meantime, don’t forget to subscribe to our blog for more useful technology tips and advice!

How Much Time Do You Spend on These Websites?
How Does the A.I. in Reality Measure Up to Hollywo...
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Tuesday, November 13 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Tag Cloud

Tip of the Week Security Technology Network Security Cloud Best Practices Managed IT Services Privacy Business Computing Data Backup Hackers Email Malware VoIP Hosted Solutions Data Data Recovery Outsourced IT Mobile Devices Tech Term Innovation Google Hardware Internet Microsoft Backup Cloud Computing Business Continuity Software Internet of Things Saving Money BDR Ransomware Communications IT Services User Tips Smartphones Business Android IT Support Communication Cybersecurity Small Business Efficiency Cybercrime Chrome Workplace Tips Network Productivity Disaster Recovery Artificial Intelligence Managed IT Services Browser Applications Law Enforcement How To Managed IT Computer Router Gadgets Business Management Windows 10 Virtualization Mobile Device Management Smartphone Save Money Server Money Computers Two-factor Authentication Business Intelligence IT Support BYOD Data Security Information Avoiding Downtime Data Protection Collaboration Phishing Windows Compliance Training Social Media Spam Identity Theft Firewall Connectivity Word Servers Passwords Alert Apps Proactive IT Blockchain Productivity Bandwidth Social Engineering Telephone Systems Redundancy Analysis IT Management Mobility Office 365 Document Management Miscellaneous App Vulnerability Remote Monitoring Upgrade Facebook Managed Service Flexibility OneNote Solid State Drive Comparison Password Information Technology Unsupported Software Private Cloud Data Storage CES Sports Data Breach File Sharing Virtual Assistant Wi-Fi Scam Credit Cards Spam Blocking Encryption Machine Learning Update Content Management Automation Telephone System Fraud Value Operating System Paperless Office Data loss Access Control Microsoft Office Smart Tech Budget Mobile Computing Business Owner Holiday Education Bring Your Own Device Unified Threat Management Big Data Networking Workers Website Keyboard Employer-Employee Relationship Mobile Device VPN IT Plan Voice over Internet Protocol Infrastructure Windows 7 Work/Life Balance Settings Criminal Wire Tools Administrator Practices Safe Mode Outlook Save Time webinar Business Technology Password Manager Storage Wireless Telephony Online Shopping Risk Management Audit Virtual Private Network Accountants HVAC Hard Drives Multi-Factor Security Patch Management Regulations Computer Care Wiring Digital Signature Electronic Health Records Windows 10 Government Knowledge Cables Emails Proactive Computing Infrastructure Root Cause Analysis Microchip Hosted Computing Frequently Asked Questions Specifications Conferencing Business Mangement Skype Evernote Project Management Enterprise Content Management Software Tips Trending Virtual Reality Samsung GDPR Public Cloud Black Market Content Filtering Network Congestion Unified Communications Devices Millennials Hacking Charger Remote Monitoring and Maintenance Smart Office Augmented Reality Meetings Botnet Instant Messaging Downtime Inventory Cortana Excel Gmail Addiction Wireless Technology Start Menu Wireless Charging HIPAA Computer Fan Warranty IoT Password Management Physical Security Lifestyle Worker Commute Flash Legal Entertainment E-Commerce Strategy YouTube Managed Service Provider Data Warehousing WiFi Battery Electronic Medical Records IT Consultant Theft Thought Leadership Tip of the week Workforce Line of Business The Internet of Things End of Support Travel USB Search Engine Marketing Hacker Recycling Cache Mobile Remote Computing FENG Printer NIST Health Office Tips Amazon Windows 10s Camera PDF Google Docs Leadership Google Apps Streaming Media Windows Server 2008 Telecommuting Data Management Netflix MSP Human Resources Students Screen Mirroring Recovery Bing Authentication Technology Tips eWaste Wireless Internet HaaS Professional Services Mouse Insurance Cryptocurrency Users HBO Content Filter Sync Amazon Web Services SaaS Google Drive Remote Work Cleaning Remote Worker Staff Healthcare Cast Software as a Service Current Events Fiber-Optic Nanotechnology Domains Colocation Experience History Computer Accessories Content Search Two Factor Authentication Relocation Vendor Management Public Speaking Music CrashOverride Bluetooth Twitter Presentation Techology Politics Assessment Lithium-ion battery Audiobook Humor Webinar Internet Exlporer Wearable Technology Utility Computing User Error 5G Video Games Television Tech Support Transportation Safety IBM Hybrid Cloud Books Automobile IT solutions How to Worker Regulation Public Computer Hiring/Firing Benefits Competition Best Practice Loyalty Company Culture Customer Relationship Management Fun Internet exploMicrosoft Troubleshooting IP Address Quick Tips Rootkit Scalability Smart Technology Files Printers Managing Stress Customer Service Emergency Employer Employee Relationship Advertising Shadow IT Hosted Solution Help Desk Office Mobile Office

Mobile? Grab this Article!

QR-Code dieser Seite