Effective invoicing will facilitate revenue collection, proper accounting, and even advertising. Find out how business invoice templates simplify the billing process and overall business operations.
In this article, we will go over:
Simply put, an invoice documents a sale. It says what goods or services the customer bought, the price, and when and how the customer pays.
Thanks to business invoice templates, businesses can create a standard format for their billing needs. These ready-made billing tools come in a range of designs and are customizable to suit any business.
Business invoice templates promote the business as well as collections.
Think of these templates as quotes or estimates. Buyers agree to the quoted price before delivery of the goods or services.
Send this for individual orders or tasks or short-term periods.
Professionals such as lawyers, accountants, and architects often must itemize the time spent on a project or case. A timesheet invoice template provides space to identify a task (such as a phone call, research, or drawing plans), the time spent on it, and the charge for it.
Use these types of business invoices for subscriptions, goods, or services rendered monthly or otherwise repeatedly to customers. A recurring invoice may also remind the customer to pay for a past good or service.
Projects that take several months or over a year to complete call for interim invoice templates. The business receives payment as it completes segments of the job. Construction companies often invoice in regular increments.
Templates for final invoices seek payment at the end of the job. Interim invoices may proceed with the final ones, which means the final invoice will state the unpaid balance.
These business invoice templates seek payment when customers have not paid on time. With a past-due invoice often comes a late charge.
Business invoice templates generally contain the following elements:
There are several ways to create a business invoice template. However, the most time-efficient and reliable way is to download a ready-to-use template and customize it accordingly.
So, to create a professional business invoice template, complete the following steps:
Head to Invoicer.ai and choose from a variety of templates and formats.
Download and customize the invoice template to suit your business, such as adding a company logo, etc.
Review and proofread to ensure your template is error-free and includes all of the necessary information.
Save it for future invoices.
Billing immediately upon completion can bring a 1.5-fold jump in the prospects of payment by customers. Placing the invoice in the package allows customers to verify the correct quantity and kind of product.
The type of invoice can also determine the ideal time to send an invoice. For an interim invoice, bill upon reaching a benchmark. Final invoices go out upon crossing the goal line. Contracts can call for monthly or periodic invoicing.
Consider emailing invoices before 10 a.m. or after 5 p.m. to get attention from businesses. Email programs generally put the most recent ones at the top of the list. These statistics illustrate many employees (including accounts payable employees) begin and end their days checking emails:
Getting paid starts well before the invoice. Credit applications can reveal references from other sellers who can comment on the customer's payment history.
Have a contract for the customer to sign before the first sale or performing work. Being organized tells the customers at the outset the terms and conditions to guide the business relationship. Include terms and conditions, such as the return or refund policies.
Let customers pay electronically as well as through the mail. Ideally, promote online entry of checking account or credit card information, or mobile payments. Nearly 45 percent of e-commerce purchases came from mobile payments.
Invoice templates offer many advantages. However, there is an even better alternative that will take your invoice process to the next level.
Our easy-to-use and affordable invoice generator is the perfect invoicing tool for your business because it will allow you to:
Are you still unsure what to make of the invoice template vs. invoice generator debate? Give them both a try!