According to a recent survey from HubSpot Research, 27% of small and mid-sized businesses admitted that they struggle to create and send invoices. They also have a hard time tracking the invoices.
As a small business owner, you have to undertake a range of tasks all at once. These include managing business finances, developing a customer base, and employing the right people.
If you spend too much time preparing business invoice templates, that means less time for the core activities, which is bad. You, therefore, need a system that enables you to professionally create invoices in no time, resulting in faster payments.
Below are invoice ideas for your small business.
Choose an Invoicing Software
You can choose to have your payment invoices in hard or soft copy. Two copies should be made and dispatched: yours and the customer’s.
You can download a free invoice template online. It’s a brilliant idea if you have a small business that doesn’t need to dispatch many business invoices.
The other alternative is to use software that automates invoicing to simplify the process. This is great for a growing business that’s increasing in customers and dispatching more invoices.
Enter Crucial Information in the Templates
Fill in the important business details and information of your customers’ names, e-mails, contacts, and addresses. This will simplify the work for your clients if they need to reach you in case of any queries.
Add critical dates, products, services, amount, and cost to your invoice. Enter each item into a separate column for your customers to have a distinct display of their purchases and owed payments. Make sure you include the total amount owed.
Indicate on the form that it is a business invoice. When clients see what document it is, they’ll make faster payments.
Include an invoice number to make sure you’re not creating another copy.
Track Payments at Any Time
You can check which clients have paid and which ones are yet to pay with online accounting software. You can monitor your payments anywhere on tablets, computers, and smartphones.
You can also track overdue invoices and automatically send reminders for unpaid ones.
Invoice Templates in Word and Excel
Small businesses don’t require you to send many invoices at once. In this case, you need one good business invoice template in Microsoft Word or Excel.
You can customize the invoice to your liking and add relevant information before sending it to clients.
Business Invoice Templates
As a small business owner, you should document every sale of products and services as well as their purchase. Business invoices are like a contract between buyer and seller, confirming the transaction’s legality.
With a clear confirmation of transactions, both parties feel more secure in case of anything regarding the purchase. This helps to avoid fraud attempts and misunderstandings.
Two invoice copies are necessary for you and the client if you need to refer to a particular purchase. Invoices make it easier to track all transactions and payment statuses.
If you enjoyed reading this piece, browse this website to learn more about business invoice templates.