You’ve done the job, but your client won’t pay. What do you do? If you had a professional invoice, things would be much easier. But how do you create an invoice that will get paid on time every time?
Here are 3 tips to invoice like a pro that will get your clients paying on time without any problems.
Create a professional invoice
The first tip to invoice like a pro is to create a professional-quality invoice. The more professional and the better the quality, the more likely your client will pay on time. Invest in a nice paper, add some eye-catching graphics, and make sure all of your contact information is clear and visible. This way, you can be sure that your clients will see that you’re taking them seriously and maintaining professionalism throughout your business dealings with them.
Get your clients to pay on time
Getting paid on time is a big challenge for many small business owners. It’s a good thing that there are ways to help with this. One of the best ways to get clients to pay on time is by being specific about what they’re going to owe in the invoice. Saying something like “Payment in full” might be too broad. If you want your clients to pay on time, make sure they know exactly how much they need to pay and when (e.g., Payment due date: March 1st, 2018).
Another way to make sure your clients will pay on time is by billing them for late fees if they don’t pay on time. When you send your client an invoice, include a clause that says if payment isn’t received by the specified date (e.g., Payment due date: March 1st, 2018), then you will charge a $10 late fee per day starting from the specified date onward). By including clauses like this in your contract, you’ll be able to collect more money than what was originally agreed upon without feeling like you’re being demanding or inflexible.
The last tip is to use visuals. Using visuals makes it easier for clients to understand what they’re paying for and it can also help avoid any confusion about payment terms and conditions. This way your client knows exactly what’s expected of them and what happens if they don’t follow through with these expectations (e.g., Payment due date: March 1st, 2018).
Keep track of your finances
It’s important to keep track of your finances. You should create a budget and keep a record of your income and expenses, including how much you’re charging for each job. When clients don’t pay on time, it can be difficult to stay ahead of your bills if you’re not tracking what you’re earning and spending. Clover Invoicing tracks all payments and Invoices in the dashboard and also integrates with Quickbooks Online so it’s easy to manage finances and see what is happening in your business all from one portal.
Sometimes the simplest ideas are the best.
Managing your time, your money and your clients is a balancing act. Invoicing is a necessary evil, but it doesn’t have to be a painful experience. To get started on a simple Invoicing and payment platform give Framework Business Solutions a call at 1-587-602-4333 today and get started!