By Doris RufOn Aug 13, 2019 Invoice Templates
When a project closes, you want to send a final invoice to outline the work that you completed, alongside any interim invoices that have already been sent. Here, you want to clarify to your clients what exactly they are paying you for. Do this by detailing whether those interim invoices have been paid, and list the final amount that is outstanding, if applicable. A good invoicing etiquette is to send a final invoice to wrap up your business between you and a client—even if the job has been paid in full. Using invoice templates for your business makes sure your invoices are consistent and you are not missing important information. These templates can be in simple document or spreadsheet format or can also be generated using financial or accounting tools. Its up-to you which way you prefer. But, if you are still using paper invoices you might be creating a monster. Paper invoices are a headache to manage and are easy to lose track of. Want to reduce the headaches that invoicing gives you? Eliminate paper from the equation altogether and streamline your invoicing!
Generating and sending invoices can be a time-consuming process. Still, it is not a process that should be skipped or ignored. A properly designed invoice helps a business gets paid and provides legal protection for both parties. If you ever get audited by the Internal Revenue Service, your invoicing system can substantiate your reported income. When a vendor wants to get paid for goods or services, he sends an invoice. An invoice is a document that details the financial components of a business transaction. An invoice includes the name and contact information of the buyer and the seller, a description of the services or goods rendered, the cost per item and the total amount due. Invoices typically also include a payment due date, an invoice number and a preferred method of payment.
Next you will want to include your contact information. At the very least, this includes your mailing address, phone number, email address and website, right underneath your business name. To make it easier to read, consider typing the info on several lines. You can include your contact information on the top left or right of the invoice. We have seen it done both ways. Next in creating your invoice, you will want to specify the recipient, or who the invoice is for. Include the recipient name, address, phone number, email address, website and any other information. You might look back at this section later if you need to track down payment, so it helps you to include all the client contact information there. Some freelancers put their contact information on the opposite side from the client contact information, and some freelancers left-align it all. Do what feels right to you! Then, on the left of your invoice under all the contact information, add your invoice number. What is an invoice number? It is simply an identifier that helps you keep track of your invoices. It does not matter what kind of numbering system you use, just make sure it is in sequential order so you dont get confused. For example, if this is your first invoice, you might start with 1001. Then your next invoice would be 1002, even if it is for a different client. Each invoice gets a number, so you can easily track who has and has not paid.
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