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Tip of the Week: How to Better Manage Your Invoices

If your business has issues with ensuring payments are received and processed, it doesn’t matter how good your services and customer service standards are. Invoices can be a valuable asset that helps ensure payments are coming in effectively. Today, we’re going to discuss how to use them in a way that will benefit your company and the best invoice formatting.

Developing an Invoice

Your invoice should be easy to read so that there are no issues later down the line. If you are first creating what your invoices will look like, Microsoft Word and Excel have templates to help you format them. Once you’ve figured out what software you will use to create your invoice, you will need to include the following information on your template:

  • Description – You should always have an area for the description so people know what they are being charged for. Every charge should have a detailed summary so there are no questions about what services they are paying for. You should also include an order number, the amount owed, what payments are accepted, and the payment due date so there can be no pushback or confusion.
  • Schedules and Policies – You should have a payment schedule ready in place so that everyone is on the same timeline. With the policies about due dates, discounts, and late payments laid out, you shouldn’t run into any issues later down the line.
  • Discount Details – If you are offering discounts, they should be laid out on the invoice so there is no confusion. Especially if this person or client is new to your services. 

While this isn’t a full list, because every business in every industry has different needs, it is a general one that can get you started. Personalization is also something that we recommend, based on each client and what they are being billed for. Thank you messages are also something that is done often, and they don’t go unnoticed. 

Getting Your Invoice to Your Clients

Sending out invoices in a timely manner is important because it can end up being your own fault if they are not paid quickly. Digital invoices are easier to keep track of, especially if you are going to email them to your clients. If you have any questions about invoice formatting and what programs are best to use to create them, give MyTek a call at 623-312-2440.

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