As a business owner, you work hard on your products and services to make your business a success. The invoicing and payment activities must be taken equally seriously, so the payments come on time and the business can be run smoothly.
An online invoice makes the process of invoicing simpler and more efficient. It also helps in getting on-time payments and reducing invoice disputes.
Here are 10 essentials of an online invoice that you must be aware of:
Your Detailed Contact Information
The customers who receive your invoice, may have queries or issues related to the invoice. They may wish to ask questions related to the terms and conditions of the invoice. Contact information is what most companies already provide on an invoice, but many a times they may forget to do so. It is a very important aspect of an invoice and must be added. Important email addresses and contact numbers must not be missed out.
The Purchase Order Number
Many businesses make the mistake of not insisting on purchase orders. A purchase order before beginning of any project, is essential for the success of an enterprise. A purchase order alleviates most of the confusion related to the business communication of a project. There are other businesses who make the mistake of not adding a purchase order number to their invoice. Adding a PO number to an invoice is very important, specially when a large number of invoices are being generated. Queries can be easily resolved from the buyer or the supplier’s end, using this number as the reference. The whole process of buying products and services and their delivery gets simplified by this simple and crucial step.
Invoice Tracking
Managing a large number of invoices may become really difficult if these invoices are not tracked properly. An Invoice status helps you know if the payment has been made or pending.
Tracking of the invoicing process helps you know just exactly where is an invoice in the payment process. Invoicera provides a single dashboard to know the status of each and every invoice and track all the activities with ease.
Invoice Notes
Invoice notes may not seem like an essential part of an invoice. It is a very simple tool to send out additional information to the client. This could be information related to that particular invoice or the business in general. One can even send out interesting discounts and offers in this section and get repeat customers. Adding a personal note in this section is also very helpful in building a good relationship with the client.
Due Date
One of the most important aspects of an invoice is a due date. A due date is a constant reminder for the client to pay up within a specified time period. Adding a due date with a credit period that is reasonable and in accordance with industry standards is essential.
Corporate Identity
Spreading a positive word about the business is essential for it to grow. Adding the corporate identity to an invoice, ensures that the brand message gets reinforced to the existing customers of the business. This further helps in growth of sales and revenue for the business. Invoicera helps in adding your brand logo to each of the invoices. It also provides the option of customizing the invoice completely, so it can reflect the corporate identity of the brand, as desired.
Product Description
Properly filling in the description of goods and services sold to the client is extremely important. This helps the client understand about the nature of his purchase in great detail and without any confusion. Taxes and discounts, if any, must also be properly mentioned on the invoice. Properly adding descriptions on each of the invoices, helps in reducing the number of invoice disputes.
Invoice Number
An invoice number is another very important aspect of a business invoice. This invoice number helps in tracking invoices, resolving queries and helps in detailed analysis of invoices. Adding customized invoice numbers which carry month and date helps in tracking them according to the date on which they were sent. This also helps in understanding whether the invoice in within the warranty period or has crossed the last date etc.
Late Fee
Timely payments is what every business owner expects from clients. If payments are late, the cash flow suffers and so does the business. Despite all measures, each business faces the the problem of delayed payments. One interesting method of getting the clients to pay up on time is a late fee. A late fee ensures that the payments are made without any delays. Invoicera is one of those invoicing solutions that provides this feature and helps in getting paid quicker.
Invoice Scheduling
Sending invoices in a timely manner is very important for getting paid on time. The invoice scheduling feature of Invoicera helps in sending invoices on a future date and ensuring they are sent on time.
Sending and managing invoices, is a crucial aspect of every business. The process, when managed well, definitely helps improve productivity and business growth.
