When operating a business, you need an invoice that helps you document every transaction. An invoice is a commercial legal document with time and date to record the transaction made between you and your client. If you’ve just started running a company, you might want to consider using a useful blank invoice PDF template.
A blank invoice PDF template is a pre-designed invoice form that helps you save time by automatically including all the necessary details you need, such as a business address, date, and price. It’s also fairly easy to use. Once you fill in the vital details, you can send them to your clients right away.
However, having an invoice is not enough to make your business transactions run smoothly. In reality, some invoices are not paid at the right time. This is alarming because company movements, especially small businesses, often rely on on-time payments to avoid having high-interest debts.
Moreover, the usual cause of such problems is unclear invoices that push customers to set them aside, as if they don’t exist. That said, you might want to consider these helpful tips that will help you produce an effective and customer-friendly invoice:
1) Combine Multiple Invoice PDFs
When sending an invoice for an online transaction, you would probably use a PDF document as a format for your invoice. It’s portable and allows everyone to view any files whenever they want and wherever they are.
However, sending multiple PDF files to the same customer would be time-consuming. In that case, you might want to consider using applications that will allow you to combine PDF files into a single document.
This process will help you save time and allow the customer to view all of their invoices in a single document without leaving and closing the same file. Hence, improving your customers’ experience. With this, they will probably consider making another transaction with you in the future.
As you can see, a simple trick of combining a PDF allows you to enjoy two essential benefits. So, make sure to compile all PDF files instead of sending them one by one.
2) Make Them Easy To Understand
When creating an invoice, you need to make sure that they are easy to understand. As mentioned, an invoice with unclear format and details is the most common reason why many clients fail to pay their bills on time.
All you need is to ensure that all details are present, easily seen, and read. This can be done with the use of an invoice template generator. You might want to use classic font sizes 12 to 14 and font styles such as Times New Roman, Cambria, Georgia, or Calibri for an invoice that can be read at a glance.
Ensure to place your business logo at the upper left or right corner, too, so clients can easily identify your business. Additionally, make sure to list the particulars understandably. An example would be writing a product with a full essential description. Using one of the best invoice software for small business can make this process easier for you.
3) Send Invoice To The Right Customer
As a business owner, it’s your responsibility to make sure that any invoice will be sent out to the right person so that it can be processed immediately. The most common mistakes when sending an invoice are:
- Sending it to the wrong customer
- Sending it to many people
However, if you’re sending your invoices to the right people and still experiencing late payments, you might want to make follow-up calls to check who is receiving your invoice. Ask them as well about the person in charge of transferring money to your accounts.
You may have a contact that does their job well and diligently. Yet there’s a chance that your invoice may just be lying down in a pile of non-moving documents in other departments out of their control. So, it’s best to ask them immediately once their due date has passed to clarify any possible issues.
4) Send Your Invoices Ahead Of Time
The best way to get paid immediately is to send your invoice as early as possible. For instance, if you have seven-day payment terms with your clients, you want to send your invoice at least three or four days earlier to help remind them of their obligations to your company.
This will also encourage them to pay their dues at the right time. Anyway, they have already received the things they need beforehand. Hence, why wait for the due date if you can send your invoice ahead of time?
5) Give Incentives To Early Payers
One of the best ways to encourage your customers to pay you at the right time or ahead of their due dates is by giving them incentives if they can pay their bills immediately. You can give them early payment discounts and free products or services that they will surely enjoy. After all, everyone is a businessman, so this should never be overlooked.
Likewise, don’t forget to include your incentives in your invoice to remind customers about your policy for early payers.
6) Charge Late Payments
If you can give incentives to early payers, you might want to try charging customers who fail to pay their invoices on time. In this way, they’ll be able to pay you on the given due date or even earlier to avoid penalties and to enjoy your incentives.
However, you have to be ready for feedback from some clients who have a track record of delayed payments. They will surely make some annoying comments about your rules, but remember to stand your ground against them. If they can’t meet them, they can opt for other suppliers instead.
An invoice is a helpful document that allows you to track and record transactions between you and your clients. If you’re new in the business, you may try using blank invoice PDF templates to facilitate and legalize transactions.
Yet having an invoice is not enough. You need to have an effective invoicing solution that will encourage your clients to pay your company at the right time. You want to make sure that your invoice is easy to understand and send it to the right person. You may also consider charging late payments and giving incentives to encourage them to pay on time.
With these tips, you’ll have your money circulated properly and use it on things to improve and develop your business.