As a company that helps 250,000+ businesses invoice their clients each year, we’ve observed a simple truth: some business owners get paid on time while others don’t.
Today we’ll share some of the most common mistakes businesses make when it comes to invoicing and the best ways to avoid them. If you bypass these issues, you’ll find yourself on the positive side of the payments equation.
Mistake: Taking your time to send an invoice.
You’d be surprised how many business owners are always on time when it comes to services but then take a week or more to send the invoice over. This leads to a big delay in getting paid and it’s a very simple mistake to avoid.
Tip: Send your invoice right when you finish a job. Use the Invoice2go mobile app so you can create and send from wherever you happen to be.
Mistake: Not including the important details.
Valuable time is lost when you have to go back and forth with the customer over confusing terms and line items on your invoice.
- Add detailed line items including where your time was spent and what purchases you made. Include receipts as needed.
- Avoid industry jargon by speaking in plain language.
- Share bad news (i.e. unexpected expenses) ahead of time in person or by phone.
Mistake: Not communicating the value of paying by debit or credit card.
Receiving payments by card has benefits for you, including spending less time chasing down money and getting paid faster. If you don’t spell out the benefits for your customers, you may be missing an opportunity to take greater control of your cash flow.
Tip: Educate yourself on the the core benefits of credit and debit card payments. Here are a few to get you started:
- Easiest way to pay with no setup required.
- Avoids the hassle of late payment.
- Safest, most secure way to pay – Invoice2go’s payments partner, Stripe, has the most stringent level of certification available in the payments industry (PCI Service Provider Level 1).
Need more assistance? Here’s a guide you can give customers who may have questions about Invoice2go’s Pay Now feature.
Did you find this advice helpful? Leave a comment below and let us know what you think.