Sending out an invoice is pretty satisfying. Seeing on paper what you’ve achieved can make a tricky month worthwhile.
But waiting for a payment (and chasing it) is less fun.
However, there are plenty of tools at your disposal to make invoicing and chasing so much easier.
Here are just a few options:
- Manual – many of my more organised friends favour a manual system, of creating their own invoices and logging it in a spreadsheet. The bonus is that it’s free to do! If you’re disorganised like me though, you’re possibly better to use an organised system, as this won’t send you alerts when someone is overdue.
- Freshbooks (which, in the interests of being transparent, is my choice and I have a referral link if you’d like to try it). It’s an online tool and app that allows me to set up invoices quickly and send them automatically at the same time each month if I choose to. It also adds on late fees for me if they pass the 30 day payment period without paying. The benefits are that it takes a lot of legwork out of the process. The downside is that you do have to pay for it (I currently pay $19.95 a month)
- Crunch – I’ve heard a lot of good things about Crunch recently, partly because they also give you access to a number of accountants too.
- Google Docs – Google Docs/Drive have a number of apps you can use with their docs, which can be used to create invoices
- Canva also has some excellent invoice templates
A couple of hints before you invoice:
- Let the client know, before you start working with them, what your terms are. This includes payment periods, late fees and early payment discounts
- Add your terms to your invoice, particularly if the invoice goes to the company finance team rather than the contact you initially agreed the terms with
- Stick to your guns. If you state when a late fee applies, and they repeatedly ignore it, make sure you add the late fee to the invoice.