Sending the invoices right on time is highly crucial for the business house in order to maintain the prosperity and operations of the organization. There was a famous case recently where because of staff absenteeism and the emergence of certain paradoxical situations for the management, the business failed to send the invoices right on time, and by the end of it, they could not properly pay their working staff with the monthly remunerations.
Discussed below are the 5 fundamental tips, to streamline the invoice process and send out invoices right on time.
1. Send error free, professional looking and correct invoices
One of the reasons behind the delay in the payment is when the invoices contain incorrect information. If the invoice is incorrect, the time will be wasted in first confirming that the invoice is incorrect and then sending the correct invoice and confirming the same. Thus send the accurate details, to the correct person in charge and within the right time frame.
2. The best shot at creating accurate invoices
If you really wish to get it right the first time with the invoices and generate professional looking and accurate invoices, trust fully automated invoicing software. Create the invoices through the accounting software that you or your organization has deployed and email the same directly to your clients. It not only saves the time, but also makes the entire process seem less and really swift.
If you are sending the invoices through Microsoft office format, it may eat up a lot productive time and it can be an utter pain to calculate VAT and perform other similar operation. However, while sending Microsoft format invoices, make sure to convert the invoice in PDF format, so that no one can change the same.
Even the cloud based online invoicing applications like Invoicera etc are quite popular for generating invoices. They are really flexible, as opposed to a company’s software and can be accessed while on the go.
3. Sending the invoices � crucial.
It is crucial, how you send the invoices and it plays an important role in ensuring timely payment. The three common ways of sending invoices and there implications are discussed below:
Sending through emails � this is obviously the best way to send the invoices. It ensures that the invoice is send to right contact and in case there is any error in sending, you get an instant notification. Besides, if you have to send the invoice to more than one contact, it is surely the most handy and utilitarian option.
Post the invoice � In the 21st century, would anyone really use this option? However, though it takes time, if you can’t email, posting the invoices is the second best available option.
The last option is sending the URL of the invoices. It works fine if there is a direct credit card payment of the invoice, but if it is a credit payment, sending the link only causes more delay in receiving the payments.
4. Include all the details of payment
Include your bank account number, if you are accepting a bank payment, which anyway is the ideal way. In case you are dealing with the international clients, you would also have to mention the IBAN number. Use the currency agreed upon while sending the invoices to international clients.
5. Smartly organize the process of sales invoicing
It is crucial for you to organize the entire process of sales invoicing. It must get the due importance like any other business collateral. Make sure more than one person knows how to manage the entire process, so that no delays occur if there are any leaves.
Streamlining the entire sales invoicing process makes it more efficient and accurate, your clients begin to expect the invoices on a scheduled time and hence you get paid right on time.
If you have to send the recurring invoices to the clients, a resourceful option that lies with you is using the recurring invoices features provided by certain expert cloud based online invoicing applications, like Invoicera etc. By activating the recurring invoices feature, your job is done to send the periodic invoices, on time.
The job is done
The delayed payment could really have drastic impacts on the business, and they are nothing but unnecessary and can be easily avoided. By following the above steps, you need remain poor in the sales invoicing and ensure correct payments, right on time.
