Invoicing is an essential process for many businesses. Of course you won’t get paid if you don’t do it, but the way that you do it also affects how you get paid. For example, to get paid quicker it is recommended that you invoice promptly, and follow up regularly.
What about the design of your invoice though?
A well designed invoice can also help you get paid quickly. Here are our eight invoicing design tips.
- Include The Agreed Payment Terms
You should always put the payment terms you have agreed with your client on your invoice. This means there is no ambiguity about what you expect. It is important to remember, though, that invoices are usually paid late. The average is about two weeks late – some will be paid on time, but those that are late push out the average. You should factor this into your payment terms. So, if you want paid in 30 days, you should consider setting payment terms of two weeks.
- Get The Contact And Address Details Correct
If you send your invoice to the wrong postal address, email address, or contact person, you will probably find there will be a delay in payment. It is always best to spend some time checking the right person to send the invoice to (it might not be the person who agreed the contract with you), and to get the address details correct.
- Make The Invoice Simple
Strip away anything that is unnecessary from your invoice. The simpler it is to read and understand, the quicker you will get paid.
- Include Full Details Of The Products Or Services Supplied
One of the best ways of getting paid on time is avoiding disputes over your invoices. You will go a long way to achieving this if you include detailed information about the products or services that you supplied on the invoice. Things like dates that the work took place, descriptions of products, and accurate quantity numbers are some of the things that are important. Your objective is to ensure the person paying the invoice understands within a few seconds exactly what the invoice is for.
- Include Payment Details
You want your clients to pay you, so tell them how to do it. Include all the payment options that you have and make sure you include the full details – for example, the full details of your bank account so that the invoice can be paid by bank transfer without the client having to contact you for more information.
- Use The Right Language
This is a tricky one to get right but it can help you get paid faster. Very often invoices are one of the most legalistic and formal documents that a business produces. There are understandable reasons for this, not least because it can help you if there is ever a future dispute. However, one the best tactics you can use to get paid quickly is to build up a rapport with the person responsible for authorising the payment. The easiest way to do that is by having conversations with them, but the language on your invoice also matters. That language must be clear, direct, and unambiguous, but try to avoid being stuffy, formal, or overly legalistic.
- Include Your Contact Details
You should include your full contact details on your invoice. That means your name as well as address, email address, and phone number.
- Number Your Invoices
Finally, make sure you have a numbering system in place for your invoices – they should all have a unique, sequential number. This makes it easier to discuss the invoice with your client if there is a query, and it will help you find the right information if you ever have to in the future.
For further help with your invoicing, or any other aspect of your business, contact a member of the Gilroy Gannon team today.