Best Practices for Invoicing

sending invoice

You can hire us to set-up and manage this process of invoicing and receivables. This will keep you from having to chase down payments and allow you to focus on what you do best – servicing your customer.

If you use a robust software system like QuickBooks Online, invoicing can be integrated and streamlined as a simple system within your business.

In our experience, there are some simple processes that make cash flow management easiest:

  1. Enter the complete contact info for your prospect immediately into your software, including full name, company name, email address and phone number.
  2. Send an estimate within an hour of your meeting or discussion for your proposed services.
  3. Convert the estimate to an invoice once accepted and send immediately with a professional, kind note.
  4. When possible, require payment for services before you begin project. If not possible due to your industry, request half-down and the rest upon completion.
  5. Accept all forms of payment.
  6. Review your receivables list weekly for cash-flow projections.
  7. Use the system messaging/notification function to remind clients of over-due payments.
  8. Use alternate professional methods to reach out as reminders, such as sending an email sharing valuable resources or making a quick phone call to check in and catch up professionally.

Invoicing and collecting receivables should be an integral and fluid system for your business. Let us help you remove the headache and angst of invoicing and collections, which will allow you to maintain a professional posture and long-term relationship with your clients.