Learning to create an invoice without any errors is necessary for small business owners.
Creating an invoice may be a pretty straightforward task. But, little errors can slip by.
Don't be afraid… there are tools and tips to assist. Read on!
Don’t Let Invoicing Mistakes Delay Payment
Many small businesses experience delays in payment because they are making some common mistakes with their invoices. For example, sending the invoice to the incorrect person or not specifying the payment terms.
If this sounds familiar or you want to find out how to create an invoice with minimal fuss, then you’re at the right place.
In this post, you’ll find out how to make an invoice the proper way. After reading this post, you'll know:
The key elements to include in your invoice How to create an invoice with programs and templates An alternative to templates that will make invoices without difficulty
The Key Elements of Any Invoice
An invoice is a document that details the services you provide, the quantity due, and when you expect payment.
But once you look closer and compare any two invoices, you’ll notice they need some aspects in common. Below are 15 of the most common elements to add in any invoice. Note that some elements won’t apply to you.
- A business logo that produces you seem like an expert
- Your company name—usually in a very larger font—at the highest of the invoice
- Your contact information, so clients understand how to communicate to you
- The client’s name and billing details. Note that in some companies, the client you’re working with isn't the person to whom you send the invoice
- Date of issue or invoice date
- Payment terms, so clients understand how many days after the issue date they must pay the invoice. While you will have specific payment terms for your business, larger companies often have their own they strictly adhere to. Ensure your invoice reflects what you’ve specified
- A due date that indicates when you expect to be paid. This can be as simple as the date of issue plus your payment terms
- Invoice number to assist you to track your invoices and stay organized for tax season. You’ll want to make sequential invoice numbers to stay things well-ordered
- Service description of what the clients are paying for
- The hourly or flat rate usually determined when creating a project estimate
- Tax amount which will or might not be applicable
- The line total for every service you’re providing
- Any discounts you will want to use for specific clients and services
- The amount due, for the client to know what to pay
- Other notes like thanking them for his or her business or your bank details. If you need a deposit for the invoice, mention it here
How to create an invoice with programs and templates
Now that you understand the critical elements of invoices, let’s examine the different programs you'll be able to use to make yours.
We can include Google Sheets, Google Docs, Microsoft Excel, Microsoft Word, and invoicing software.
These programs contain invoice templates that you can edit, save, and send to your clients.
You can feel confident about creating an invoice the right way with these well-structured templates.
These templates are easily accessible within their programs. If you use Google Sheets, select “New,” followed by “Google Sheets” and “From a template.” Or, if you prefer using Word, select “File,” “New from Template” and sort “invoice” within the search bar.
A Better Alternative to Invoice Templates
But invoice templates will only get you thus far. Even with the best template, you’ll waste time creating and sending invoices. Each time you need to edit your invoice, you need to add a new line for each item, go through cells, and export as a PDF before attaching the invoice to an email and sending it to your client.
And if there are any errors on those invoices, you would have to return to your document to fix them before again saving as a PDF and sending it to the client. (Yes, even an amazing template is liable to human error.)
A few wasted minutes might not seem to be much, but it quickly adds up as you send more invoices. Before you realize it, you’ve wasted various time on invoicing. The time you'll have spent doing work you like or relaxing with family.
The good news? you'll be able to recapture this point and consider those things that pertain to you by using the correct invoicing software.
The benefits of an invoicing software
The right invoicing software will help you:
- Avoid those pesky invoicing errors. The right solution will automatically calculate your invoice value for you
- Impress clients with professional-looking invoices you'll be able to create in minutes
Docbrew may be a solution that provides the above features and more! It will help you to create an error-free invoice in no time. By using Docbrew, invoicing will become a breeze. You’ll improve your entire invoicing process and have more time for the things you like.