What should your small business invoice contain in order to be paid on time? We're setting down the 7 components that must be included in your small business billing.
Today is the day to discuss one of the essential elements of running your small business: The Invoice.
You already know that the invoice is one of your most critical communications, ensuring cash flow for the business. But, what exactly should the document look like?
Is it too formal? How much is enough? How to effectively reflect your brand on it?
Let's now get into the blog and look at the important elements to include in an invoice:
The Main Staples Of An Invoice For Small Businesses:
The design of an invoice is always taken for granted. Business owners who are already knowledgeable don't focus much on explaining the details of an invoice, but they expect you to have the same level of expertise. Worry no more! Here we will fully explain the components of a fully professional invoice and the importance of putting them into practice as well.
1. Company name and contact details
At the top of your invoice, list your company name and, just below it, your full contact details. Fill in all your information easily with a pre-designed template available in your cloud billing software. It's easy, reliable, and smooth.
2. Fill in your customer's name and contact information
How can you send an invoice if you don't fill in the customer's information? It is vital that you fill in the information in addition to the correct information about your customer and billing address. Include all relevant information, including mailing ID, physical address, and contact details, in the pre-designed invoice template available in your invoicing system for small business.
3. Number your invoice
Make sure that each invoice you create has a unique number associated with it. It will be simple for you to recognize it and the payments associated with it.
In general, an invoice is numbered as follows: "Invoice #0001," or you can even use a unique code, such as #CLIENTA0023.
4. The important dates - sent and due
Not only do you include the due date on the invoice, but also the date the invoice was issued. Since missing one of the two will make the other date unclear, the customer will not know how to take further action.
You can specifically mention the invoice due date on the receipt, on completion of a project or delivery of a product, on a specific date in the future, and so on.
5. Provide an analysis of the products/services offered
It is important to provide a detailed list of all products and services offered. It gives your customer a clearer picture of everything you have offered to your customers. Second, it reduces the likelihood of consequences and discounts later down the line.
For example, if you sell a product, include on your invoice each item purchased, the quantity purchased, the cost per item sold, and then the final price. If you provide a service, your invoice should indicate the flat rate you charge for that service or the hourly rate you charge and the total hours worked. Also clearly indicate the date the service was provided (or will be provided in the future).
6. Specify payment terms
In your invoice, clearly specify the payment terms. In addition to the due date, inform your customers of the various payment gateways and other instructions regarding payments. Include details about late payment fees and other guidelines to make your payment process transparent and clear.
Each type of business has diverse standards for payments and terms; carefully research the standards your industry follows and adopt them.
Also, earning some extra income is not even a bad idea; check out the top 30 small business ideas to make money in 2019 and add them to your own Invoicera account. This will help you manage multiple businesses in the same account without any problem.
7. Add personal notes
It is nice to leave a little personal message to your customer, even if it is just a thank you note for doing business with you.
A personal note will give all your personal communication a little more of a personal touch and will prevent your customer from having the feelings of a cash vending machine. You will then build relationships, and these relationships will work in your favor in the future.
Finally, pay attention to what your small business invoice looks like. Critically design it using the templates available with Invoicera - custom invoicing software. You can't just play around freely. Add an alphabet, colors, and business fonts to make it clear that it's an extension of you. Create your invoice stand out from the rest with invoicing software for small businesses.
That's why Invoicera billing software for small business can help you simplify your invoicing process. At Invoicera, we have everything you need to create and manage your small business invoicing. Send professional invoices by email or save them as a PDF for future reference.
Original article published at www.invoicera.com