As a small business owner, you have a lot on your plate, including the responsibility of invoicing and payment collection. You might earn a good wage in your on-demand work, but you can often see your bottom line drop while you complete tasks such as invoicing. By incorporating a seamless method for billing and payments into the routine, you can ease some of your entrepreneurial stress.
Why You Need an Invoice and How to Create One
When you invoice clients, you initiate the payment process. This makes it especially important to send a clearly written invoice as soon as possible after you complete the client work. Your invoice should include all these things:
- The work you performed for the client
- The amount your client owes
- What types of payments you accept
- A specific payment date for the invoice total
Why Should You Opt for Mobile Invoicing?
If you already use mobile invoicing, you have a leg up on your competition. Since you already have your smartphone with you on the job, you can easily use it to send invoices to your clients right away and accept payment when you finish a project. If you don’t use mobile invoicing, keep in mind that some options can integrate with your current accounting software, offering improved tracking and effortless record keeping. If you want to make the move to mobile invoicing, it helps to keep a few things in consideration.
Choose Your App Wisely
Before you choose an invoicing app, you should evaluate your needs and create an outline of features with the potential to benefit your business. If you have regular clients you bill every month, you might select a mobile app that accommodates recurring payments. It helps to look for options that provide automated payment reminders and payment tracking. Consider selecting apps that let you customize invoice templates and personalize input fields to add some professional polish to your client-facing communications. Many apps also work with your credit card billing service and accounting software, so it makes sense to use options that sync all these functions.
Speed Up Payments
Accepting credit card payments can make a world of difference to your bottom line. While not every client or customer uses credit cards, most Canadians have at least one credit card, and using cash and cheques has dropped in popularity. Mobile credit card acceptance lets you collect payment on the spot or allows clients to pay later through the invoice you send.
Automate Record Keeping
You can spend more time working and less time on accounting tasks by choosing an app that pairs with your accounting software. By combining these tools, you can automate most of your invoicing, payments, and data entry. This helps ensure accurate record keeping and shows you a snapshot of your business finances at any point in time. Automating these tasks also reduces postage expenses while decreasing your need for paper and envelopes, which helps support your business’ sustainability goals.
Ensure You Get Paid
Even with all the latest tech, you eventually encounter clients who pay slowly — or who don’t pay at all. This makes it important to invoice clients right away and always set a due date when clients defer payment. Large companies have longer billing cycles, so when you accept work from those clients, you shouldn’t expect payment upon completion — but you should get a firm date. Also, double-check your client’s information to make sure you send the invoice to the right person. It also helps to offer multiple payment options for added versatility.
Make More Than Just Your Money Green When You Go Paperless
If you want to reduce waste and improve your invoicing process, you can go paperless with the QuickBooks online app. Whether you need to create, send, or track invoices, you can reduce printing, ink, postage, and paper costs by using mobile invoicing. Aside from saving your business money, mobile invoices also help reduce accounting personnel costs while maximizing your resources. This method of payment request likewise supports productivity improvements by saving time on manually gathering signatures and issuing receipts. Digital invoices require fewer hand-offs between employees, reducing wait times and decreasing the risk of lost or misplaced documents. It also allows multiple employees to access invoices at the same time, which can potentially boost office efficiency.
Why Should You Switch to Paperless Invoicing?
Sending invoices electronically lets you file and organize your accounting paperwork in the cloud. Paperless invoicing also proves better for the environment because it eliminates paper waste .This lets your small business “go green” by helping decrease your company’s carbon footprint.
The QuickBooks online app gives your small business the option to create and send professional-looking invoices directly from your mobile device. This easy-to-use app provides access to invoices from anywhere, simplifying work tasks while you travel or commute. Whether you need to view receipts or customer information, you can use this online app option to run the financial side of your business on the go. With that in mind, consider going paperless. QuickBooks Online helps you create and send smart invoices that help you get paid 2x faster. Try it QuickBooks today.