Do you spend a lot of time putting together invoices and getting clients to pay them? Your current process could use refinement so it’s as efficient as possible. You can improve your business revenue once you recapture this time. Here are a few ways to make invoicing better for your company.
Standardize Your Invoicing Format
You don’t need to create an invoice from scratch every time that you send one out. Put together a standardized format that includes the most important information needed to receive payment.
Here are a few details to include:
- Information about your business
- Client’s name, company name, address, phone number and email address
- The product or service sold
- The cost of the product or service
- Instructions on how to pay the invoice and when it’s due
Have a Clear Invoice Timeline
Keep your invoicing process consistent by following the same timeline with the client. Everyone knows what to expect, the number of days before the invoice is considered overdue, when reminder emails should go out and other details. A routine schedule also smooths out your company’s cash flow.
Educate Clients on the Invoicing Process
Instructions on the invoice help, but in some cases you may need to walk the client through the full invoicing process the first few times you send one over. Make this education part of the contract signing or during another opportune time early in the business relationship.
Use IntegraPay + Xero
Xero’s invoicing capabilities free up your time by making it easy to send out the bills. Templating and automated reminders are excellent features for streamlining your process. When you use the IntegraPay and Xero combination, you take this one step further by making it easy for your clients to pay you directly from the invoice. For repeating invoices, the invoice due date triggers the payment ensuring you get paid when the invoice is due.
Your invoicing process shouldn’t be time-consuming or challenging. When you reduce the manual steps needed for both parties involved, you get your invoices out faster and the client can pay quicker. Whether you implement one streamlining tip or all of them, you’re going to end up with more time due to the increased efficiency.