Tips for Staying on Top of Your Business Invoicing

invoicing

 

Invoicing is one of the most important parts of running a small business, but it can also be a big hassle!

Use these tips to avoid getting bogged down creating and sending invoices so you can spend more time focusing on other areas of your business.

Look professional – and be true to your brand

When you create your invoices, it’s vitally important to make them look as smart as possible. Add your logo to your invoices and make sure the amount that is owed to you is as clear as possible, but also think of how the colors and wording of the document reflect your brand. Have the terms and conditions in plain English, not lawyer talk.

Keep it legal

Your invoice is a legal document, so make sure it’s accurate. Be sure to include your business name, address, and phone number for easy reference.

Think of the numbers

HMRC’s rules are that invoices must have “unique sequential reference numbers”. You don’t have to use the same sequence across your business though, so you could, for example, use a different sequence for each customer or even for each project.

Choose your pricing structure

You can ask your customers for a deposit, or even full payment, upfront before you do the work. This not only confirms your customer’s commitment to the project, but is also kinder to your cash flow. It spreads the financial risk between you and the customer.

If you’re worried that you might lose customers if you ask them to pay up front, consider offering a money-back guarantee to customers that aren’t happy with your service.

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