61% of late-paid invoices are due to errors on the invoices themselves. That’s an impressive — and worrying — stat, and for those of us whose work requires us to send regular invoices, it should serve as a wake-up call.
After all, are you really certain you’re including everything on your invoices that you ought to be?
Well, worry not. This guide will let you know what you need to include on your future invoices to make sure you keep getting paid as soon as possible. With the help of some versatile business tools and a bit of know-how, you’ll never make invoice mistakes again.
1. The Word ‘Invoice’
Yep, as silly as it may sound, plenty of people forget to actually note the fact that the invoices they’ve sent out are, well, invoices!
If the company you’re invoicing can’t easily tell that the document you’ve sent them is an invoice, it can easily get lost in among all the other paperwork they have to deal with. That can delay company payments by a long, long time. So make sure you can tell your invoices are invoices!
2. Addresses, Addresses, Addresses!
Just as important as your invoiced company knowing that you’ve sent an invoice is that they know who you are, too. Make sure you include both your name and address as well as the address of the company you’re invoicing.
That way, all the most pertinent details are available right at the top of the invoice. That will help your invoices get processed very quickly and sent to the right people within the company.
Otherwise, the business you’re charging might understand that they’ve received an invoice, but not really know who it’s from!
3. Itemized Goods and Services
This is a big one, and it’s the one any good invoice template will put front and center. Businesses need to understand what you’re charging them for, of course!
That’s why you should take up most of the invoice with an itemized list of the specific goods and services you’re charging them for, including the dates those goods and services were provided.
After all, if invoices didn’t include these lists, anyone could send in invoices sight-unseen!
4. How to Pay!
You’ve sent in your invoice, put the addresses on it, and included a detailed list of what it’s for. Great! The business is able to process that super quickly and is more than happy to pay for your services.
Except they don’t know how.
So make sure you include things like bank account details or any other details the company will need to pay your charges right there on the invoice!
Using Business Tools to Make Life Easier
So there you have it, a quick guide to what to include in an invoice, whether you’re using sophisticated business tools or not. Working contractually can be complex, but there’s no need to make it more complicated. Hopefully our invoicing guide helps you do that.
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