Who Should Use Hourly Professional Invoice Templates?
Any freelancer, contract employee, or small business owner who charges clients based on an hourly rate can use an hourly rate invoice template format rather than simply using a Google doc. Be sure to send professional invoices using a free template that will help you and your client track and calculate the total amount of hours spent on a job – ensuring that you will get paid the right amount.
Remember to clearly state the exact tasks you accomplished and how long each task took to complete using the invoice generator.
Some examples of those who could use free invoice template include:
- Writers
- Graphic designers
- Virtual assistants
- Business Owners
- Contractors
- Photographers
- Moving companies
- Cleaners
- Consultants
What Items are on an Hourly Invoice?
A professional invoice will include features that are common among most invoices and some custom features that will only apply in certain situations. Therefore, you can customise your invoice to suit your needs.
Common features:
All invoices share some common features, including:
- Company name
- Business logo
- Contact details including email address
- An invoice number
- Client name
Other Important things to include when invoicing in Ireland:
- Value Added Tax (VAT) information, if applicable (the standard VAT is 23%)
- Bank details, including IBAN and SWIFT code
Besides that, there are a few additional details that are required as per the law if you are billing international clients. Some are related to billing, while others are related to your business.
- Personal public service number (PPSN)
- The applicable VAT in Euros
Custom Features:
Your hourly invoice also requires a few custom features. This allows you to create an invoice including:
Type of service rendered
If you’re a virtual assistant, your invoice should reflect the task you perform (i.e. creating a database of constituents for a political client). If you also performed other tasks, they should be itemised and added to the invoice in the same manner.
Hourly rate
The amount you charge by the hour for that type of task, and how many hours you spend on the task, followed by the total charge for that specific task. Subtotal your charges for each task.
Forms of accepted payment
Payment methods might include checks, bank drafts, debit cards, or credit cards.
Terms of payment
Payment terms outline how, when, and with what method your customers or clients provide payment to your business.
Taxes
Add any applicable sales tax before you compute the grand total. You can opt to not reflect taxes on your invoice and instead incorporate them into your fees, but be sure to set aside about 25% of your earnings to be prepared when tax season hits. And, depending on your state of residence, you may also have state taxes due.
What Type of Charges Should Be Reflected on Your Invoice Template for Hours Worked?
Your hourly invoice is a little different than the usual “products sold” type of invoice because of how you itemise your charges. Consultants who charge per-project fees are able to modify a generalised invoice – but for certain types of freelancers, this format doesn’t quite work. Here’s why:
- A writer can charge a per-blog fee or a bill per word. If the writer is performing bulk work, sometimes they offer a discount. Therefore, an invoice a writer creates can have multiple lines for different types of work completed. There are freelance writing invoice templates that make this very easy for your freelance writing business.
- A virtual assistant invoice template can incorporate different hourly fees depending on the nature of the requested task.
To price your service correctly, estimate how long it takes you to complete a project, then multiple hours by the average hourly pay for that service, and set a flat fee accordingly. You may or may not have to pay taxes on your earnings come year-end, so adding a small amount for tax into your flat fee should be considered.
How Should You Send Your Invoice for Freelance Work?
Many people who work from home today send invoices digitally – writers and VAs find their clients online, perform the tasks requested, and when it’s time to ask for payment, they create invoices online and email them to their clients. While you may mail or hand-deliver your invoice if clients live nearby, it is perfectly acceptable to send it to your client via email or to use a software program like QuickBooks to prepare and send your invoices. If you need a simpler way to invoice your clients, try QuickBooks invoicing software now.