Invoicing is supposed to be the easy bit, right? After all, it's the final step between your hard work and hard cash! But doing your billing can turn into a stressful process if you're spending too much time compiling your invoices, following up on late payments and chasing debtors.
Invoicing doesn't have to be such hard work. Watch this video for 7 tips for ensuring your bills get paid faster with the help of WorkflowMax!
Tip 1. Send the invoice!
You can use Workflowmax email options for sending invoices to your clients. Invoice quickly - as soon as the time and costs are entered into Workflowmax you can create a progress invoice. Don’t wait until end of month.
Tip 2. Make it accurate and easy to read
Because Workflowmax invoices are based on timesheets and costs to date, they should always be accurate. The basic layout is clear and easy to read. With the bonus of being able to use custom templates so they can look exactly how you want.
Tip 3. Make your own payment terms and tell your clients from the start
Part of the job negotiation process is setting your payment terms out from the start. Paying the 20th of the month following is an archaic idea from when cheques were written out. Set your payment terms out clearly in any letters of engagement.
Tip 4. Invoice frequently
Don’t wait for a job to be complete, invoice at regular intervals. Monthly or when each stage of a job is complete and signed off. Whatever works for you and your cashflow. Workflowmax gives you the option to create as many progress invoices whenever you need. Whether you invoice based on time and costs, estimated time, or quoted values.
Tip 5. Make it easy to pay
Make sure you have all your payment options listed on your WorkflowMax invoices.
Tip 6. Be firm on payment terms
Use the milestone function of Workflowmax to set reminders about invoice due dates. Use the notes functions in client manager to keep track of when you phoned and when your client promised payment. You’ll have all the information you need to proactively chase your money.
Tip 7. Send invoice to bill payer
If your contact is not the person who pays the bills, find out who is so that you can send it directly to the right person. Integrate WorkflowMax with Xero - your job data will flow seamlessly through to Xero to create an invoice. From Xero you can then reconcile your accounts and manage your debtors.
Do you have any other tips for getting paid faster? Share them in the comments below.