At times getting an invoice paid in time is more challenging than completing the actual job. After all, tracking late payments is not an easy task at all. You pretty much feel like the tom in the game of tom and jerry. But, what if we say there is a way to receive payments in time more frequently? You can easily accomplish the task of receiving payments in time by sticking to strict invoicing etiquettes. With effective invoicing etiquettes you can maintain a high level of professional communication with your clients.
This will in return build trust and let you retain your clients for long. Read the following tips to get started:
Use the best software for your business.
Most importantly, make sure you have step up your invoicing game strong with an online invoicing software. An invoicing software will solely handle all your invoicing and financial needs. An invoicing software for small business like Invoicera is custom designed to smartly handle our entire business. Apart from just creating and sending invoices. It also lets you real time track invoices and automatically follows up with clients for due payments. The customised invoice software for small business makes all your communications and documents professional.
Set clear terms and list your services.
Surprising or shocking your clients with terms and payments is never a good idea. In other words, the invoice should consist of all that the client is expecting. The due amount, payment cycle and due date should be clearly mentioned in all your communications beforehand. This will help you avoid all future conflicts and keep your cash flow cycle smooth.Most importantly, clearly mention all the services you have provided or the products you have sold to keep your clients aware of all the products they have used.
When an invoice contains hidden costs, the client is going to be more reluctant to pay it on-time. Even worse, that trust you had previously built is now shattered.
Create and stay by your policies.
Creating new policies frequently will irritate your customers. Make sure you create a policy once and stick to it for long. Don’t confuse your clients with shocks of fluctuating policies like not charging taxes in one. If for some reason you require to change, then inform them before sending the invoice. This is a common gesture that shows you’re both a professional and considerate individual.Provide complete contact information.Sending an invoice for the first time or to someone you’ve worked years with, it is important to include your contact information in all your invoices. This way you would easily solve any queries your client might have.An online invoicing software supports a customised invoicing template that will guide your way creating all your invoices efficiently.Your invoices should always include your business name, address, phone number, and email address. This way your customers know exactly how to get in touch with you if they need to.
Make payment convenient for your customers.
The easiest way to get paid in time from your clients is by making it convenient for them to pay the amount. Most of the customers feel reluctant in paying when it involves a lot of efforts from their side. In order to avoid all such hassle of late payments make it very convenient for them by giving them a way out by paying online.Invoicera is the only invoicing software that has more than 30 online payment gateways integrated that make it easier for you to receive payments from your customers all around the world. Apart from this it also allows you to send invoices in any language that your client prefers and build high level of trust and satisfaction with them. Trust is the key to retaining any client for long. Make sure you use your cards wisely.
Say “please” and “thank you”- Be courteous
It is always said that being polite with people strengthens any relationship. And a relationship as important as your client demands to be respected and polite.
A simple note of thank you and a request of asking your clients to pay in time boosts your cash flow 5 times. It also leaves a positive impression on your clients and is a reflection of your professionalism.
Ask for advance payment up front for large projects.
Working with a big project will be a wonderful experience for you. But, it will also demand your time, money and efforts. Don’t hesitate in asking your client half payment upfront. This will be the amount you would be investing in the same project and will give you security of work.
In order to keep a track of all the advance and mid way payments received from your clients you can send them invoices or credit notes via invoicing software. It will then record all your received payments and will let you send your clients its invoices and credit note in time. An online invoicing software for small business like Invoicera is a 360* package that manages expenses, keeps a track of accounts receivables and every other business need.
Also Read: 6 Smarter Ways to boost your Cash flow 10 times with Online Invoicing
Politely follow-up for due payments.
Your job does not end at just sending out invoices, it is far more than just this. After sending out an invoice, your first job is to track it’s status (sent/received/viewed). And then, politely following up with your clients confirming the date on which the dues will be cleared. Receiving payments is not always a walk on the smooth road. You have to take many turns to get your invoices paid, at times.Shifting to online invoicing you can forget the hassle of following up for unpaid invoices. An automated polite reminder is sent to clients following up with them for initial delays. This not only reduces your task but also leaves a professional impression on clients.
Also Read : 10 Advantages of Using an Online Invoicing Software
CONCLUSION
You’re on your journey to bringing your dreams of a successful business enterprise true. It is how you take each step that will bring you either closer or take you away from the upcoming reality. Every business demands your time and efforts to nurture it and give you the expected ROI. Online invoicing software for small business are the backbone to your entire financial and expense tracking. It helps you keep a track of all your important figures in a single dashboard and access them how and when you like.Small business etiquettes are important in setting the relationship right and creating high brand awareness amongst people. The positive word of mouth is an advertisement that does not require direct monetary investment but how you invest your efforts into it.
A quick dip into the world of online invoicing with Invoicera
Invoicera is a cloud based invoicing and billing solution empowering small businesses worldwide since last 13 years.
Invoicera, invoicing software helps to automate and simplify your business processes and communication with online invoicing and payments, expense management, recurring/subscription billing, client/vendor panels, time tracking, workflows, multi companies, multilingual & multi currency support, staff permissioning, financial reporting & analysis, purchase order management, subcontractor billing and time management, comprehensive reporting and APIs for 3rd party integration.
