The Perfect Invoice - Does it exist?
As with any contractor or freelancer delivering a professional service, the key to getting paid on time, every time, is to craft an invoice which ticks all the boxes, answers all the questions, and does what it says on the tin.
The invoice – it’s the fun part for some and the dreaded task for many, either way, let’s get it right the first time. If we’re asking the question – what’s an invoice? This can be answered in a handful of ways.
For the end client, it’s a breakdown of services that are being provided, for which the service provider is billing for. For the service provider, i.e., the Contractor or Freelancer, it’s the final point before getting paid, that’s if the invoice provides all the information needed.
Get Paid - On Time, Every Time
First things first, as with any other external documents, the first question is who is it from? Branding is just as important when it comes to invoicing, we’re talking colour palette, styling and logos.
It’s not the most interesting of documents so make it fun! Ensure that the information on the invoice is easy to comprehend and full of clarity. Here’s what you should include:
Sender & Recipient: State who is sending the invoice and include the name of the Limited Company. It’s just as important to state who the invoice is addressed to, this will ensure that it doesn’t fall into the wrong hands.
Service Breakdown: Provide a detailed breakdown of what services are being provided. This can help extra questions from being raised, ensuring that you get paid faster.
Payment Method: It’s another hurdle to jump over so make it clear. If you’re giving a direct payment link or just stating your bank account details, ensure that this is easily identifiable.
Small Print: It’s better being transparent in the first instance to avoid late payment. State your payment terms in the invoice to ensure prompt payment is made.
Sometimes, it’s the little things that matter…
Gorilla Accounting is a specialist accountancy firm, exclusively for Contractors and Freelancers operating through a Limited Company or Umbrella Solution. If you would like more information, get in touch with our New Business Team by calling 0330 024 0406 or email firstname.lastname@example.org.