Waiting for payment after delivering a product or service is frustrating. Your business needs the cash flow to continue normal operations, and one or more clients falling behind on their invoices can make life difficult. Here are a few ways you can create an invoice in Xero to help you get paid.
The Etiquette of Raising an Invoice
The best time to talk about when a client will receive an invoice is during the contract signing. Go over the full process with them so they can ask questions or mention concerns. If you don’t give them a timeline, then you might end up with a frustrated client who thought the invoice was due much later.
What Information Should You Include on an Invoice
Endless back-and-forth discussions happen when you don’t include all the necessary information on the invoice. The basic details should include your company’s name, contact information and the name of the point of contact, and the same for the client. Create line items for the product or service sold and the cost per unit. At the end of the invoice or with the cover letter, provide payment instructions. While you ideally went through the process with the client during the contract signing, it’s helpful to have this information directly on the bill.
How Much Information is Too Much
The invoice should not have irrelevant details. For example, you don’t need to go into detail about the product’s function, the results of the service or how you arrived at the unit price. These conversations should happen through another communication channel.
Use IntegraPay With Your Xero Invoice
You can integrate IntegraPay with the invoice you send through Xero to streamline the payment process. This combination adds a Pay Now button on the invoice itself, so your client doesn’t need to click to another page or open up an application to send you money. You can also schedule recurring payments which are driven by the invoice due dates. Don’t leave payment up to chance, off your clients more payment options. With IntegraPay + Xero you can have your invoices paid by credit card, bank debit and BPay. When you leverage Xero’s helpful invoicing features and expand its capabilities through add-ons, you can make it easier and faster for your clients to send you money.