Simple Invoicing Upgrades for Small Businesses

It feels as though you can upgrade just about anything these days. That does not only apply to hardware and software. You can also use simple upgrades to ensure your invoices contain all the relevant information required by your company and your clients.

If you run a small business, here are some of the simplest invoicing upgrades you can make that will really make a difference.

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Use Simple Niceties That Go a Long Way

Today, it is easier than ever before to create checkstubs or invoices, by using online tools. When creating invoices for your small business, you need to provide comprehensive contact information and payment details on every invoice to help receive timely and correct payments from your clients. But to encourage swift and correct payments more, simply add niceties to your invoices.

Taking a moment to add wording like “we appreciate your business” and the word “please” before “pay within fourteen days,” for example, can make a big difference in how quickly clients pay their invoices.

Utilize Automation Tools

A more solid invoicing upgrade you can make is to use automation tools. You can find general invoicing software that can be used by any business as well as invoicing software that is designed for specific industries.

With an abundance of features, it becomes simpler to check things like paid invoices, unpaid invoices, and cash flow whenever you need to do so. Compare different invoicing automation software and features to find the best solution for your small business.

Provide More Efficient Payment Options

You can help ensure your invoices are paid on time by upgrading your payment methods. The more convenient you make your payment options, the sooner your clients will pay.

Consider allowing clients to pay online. Make sure you use an easily navigable platform for online payments and that the link and information for the platform are clearly stated on each invoice you send out.

Also, when clients use an online portal to make payments, you significantly cut down on the time needed to handle invoicing procedures.

Make Sure All Invoicing Details Are Consistent

Invoicing issues can happen when clients are not provided with the correct information, so make sure all information that should be on an invoice is indeed contained on the invoice, and ensure all details are consistent.

For example, if one part of your invoice says the payment amount is due within fourteen days and another part says it is due within twenty-one days, you could be looking at either a delayed payment or a time-consuming phone call from your client.

Time is money. So, ensure all invoicing details are consistent and you can avoid such problems from occurring. Review each stage of the invoicing procedure to make sure all updates are carried through the whole invoicing system.

Improve the Language You Use on Your Invoices

When the words you use on your small business’s invoices can potentially be misinterpreted, you are allowing numerous problems to happen.

For instance, if you charge a standard 5% late fee on payment amounts that have not been received after the due date, you need to make certain that the late fee is mentioned on the invoice.

If it is not, the client could legally challenge the fee. That not only means you could receive payments late without any additional fees to cover the tardiness. It also means you could have to handle legal battles, which would be costly and time-consuming.

Spend time wording the content of your invoices to ensure the language you use cannot be misinterpreted.

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes