By On Aug 30, 2019 Invoice Templates
When you agree with the client on the terms of your work and sign a contract, you should list out how often you plan to invoice and when you should get paid. For instance, for recurring work, you might agree to bill on the first of each month, or biweekly so you get paid every other Friday. For one-off assignments, the most common practice is to invoice after the work is complete. However, if you are unsure, you might simply ask your client, Is our work complete? Shall I send an invoice your way? For big freelance jobs, such as assignments where you and your client have agreed upon a fee of $1,000 or more, you might invoice several times throughout the project. For example, you might invoice for half the fee at the beginning, then half when the project is complete. Or you and your client might agree to milestones that warrant payment, such as finishing an outline for a long project, or completing a draft of the work. When to invoice is really up to you — just make sure you and your client agree on this before you start the work.
Some businesses set up recurring billing for customers who have repetitive products or services. This is a way to speed up your work processes and eliminate manual labor. In that instance, complete invoices are important because those that are incomplete may get regenerated. Therefore, any wrong or missing information could repeat each billing cycle. Of course when you have a business to run there is lots of other responsibilities. However, creating complete invoices is important and will save you time in the long run.
Add a date that shows when you submitted the invoice to the client. The date prepared line is important because you will need to refer to it if a client takes a long time to pay you. We will go into that shortly, under payment terms. Specify when, exactly, the payment is due. The due date is entirely up to you, but most freelancers — and invoicing systems — use a 30-day, 45-day or 60-day timeline. You can also make the invoice Due upon receipt, so the recipient is required to pay the invoice promptly. This should not be the first time your client has heard about the due date. When you agreed to do the work — and hopefully signed a contract, or at least agreed to terms via email — you should have set expectations with the client for payment terms. If the client does not pay on time, you can refer back to this due date, as well as the prepared date if necessary. It is typically helpful to the client if you specify your payment options — whether you prefer to be paid with cash, a check, a credit card or a service like PayPal. (If PayPal is your preferred payment method, it is smart to add your PayPal email address to the invoice, so they send the payment to the right place.) Some companies offer direct deposit if you work for them on a regular basis, but more than likely you will have to send an invoice to request payment every time you complete a project.
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