• Everything you need to know about small business invoices Aug 6, 2019
    Views: 396

    What is an invoice?
    Put simply, a sales invoice is an agreement in writing. A document that confirms money will be paid from one party to another for goods or services provided. They are not always 'static' documents, however. They have a life cycle. Depending on the current status of any work in hand, you may be looking at a raised invoice, a pending invoice or a paid invoice, for example.


    As well as different stages in the life of an invoice, there are also different types. Understanding the right kind to put in front of a client is vital:


    What information should my invoice include?
    You may not know exactly what to show on a business invoice. There are certain things everyone must include to make a viable and professional-looking document. And we've written them down for you. So whether you use a scrap of notepaper, a professional template, digital app or cigarette pack, it pays to remember these essentials when quoting or billing a client.


    Having a template with some of the details prefilled really helps. Also, make sure it's neat and on-brand to make it look more professional.

    What's next?
    First and foremost, assign each newly created document a unique invoice number to distinguish it from all others. Numbers only need to mean something to you, so choose any system you like. Just make sure they are sequential. Include the initials of your company with the invoice number so you can recognise your own transactions at a glance.

    Next, keep a tally of paid, unpaid and overdue invoices - this helps you to quickly assess how many payments to expect and who you need to send a kind reminder to.

    How to set payment terms
    Don't be afraid to set tight deadlines; it's good practice. Some clients are chronic late payers (you can't help that), but the majority will respect your terms and pay on that basis. One of the best ways to beat them and stay afloat is to automate your processes through digital, trackable invoicing linked to a bank account.

    How to ensure an invoice is paid on time
    Chasing payments takes effort but can happen from time to time. So learning how to get money in swiftly is always desirable.

    • Go digital. Poor admin is often a major reason for late payments. With Amaiz, you can quickly raise a branded invoice from our app.

    • Raise customer invoices as soon as you’ve completed work or delivered on a project. With Amaiz banking, you can email invoices directly to your customer from your phone.

    • Agree to favourable payment terms with your customers.

    Amaiz small business banking features invoicing in our app, with customisable templates, room for your logo or branding, and the ability to track jobs by status.

    If you have questions about invoicing or accounting, our expert team is always happy to help. You can reach out to us any time via email or in the app.

You need to be logged in to comment