Every dollar counts. This is more than a mere fact in any business, big or small. There are days when everything was inked ledger. With modern technology comes innovative ways of making invoices and estimates. It’s always about the fastest solution that gets you paid in a fraction of a second. In other words, it’s all about CONVENIENCE. (more…)
Archive for the ‘All About Invoices’ Category
Admit It! You don’t like reading bills, so much more on making a bill yourself. All those numbers and details can give you so much headache as if you just had a bad hangover. Doing your invoices can be a very messy affair. No wonder many still dread getting into the number game with their calculators, papers, and pens. When getting paid or paying someone is a major part of doing business, big or small, is there a more simple process for you to work on?
You may be a seasoned freelance expert, but that doesn’t mean you have already mastered the art of invoicing. Who loves Math, anyway? Making your invoice on paper or on the Web is not a fun task to do. If you want to get paid for all those long weekends of work without play, you need to reinforce the habit of doing your billing right. It’s high time to get that paycheck and grab yourself some rewards for your hard work. (more…)
If you were to be asked to do your entire invoices online, would you do it? Perhaps, there’s a tiny voice of doubt inside your head telling you not to. Going paperless and doing your bills purely online is something that many are not yet prepared to do. For this reason, we see the failure of having a 100% paperless office, even after a decade of having positive thoughts about it. The answer is simple: We are humans. We love to hold tangible things and we don’t trust something we can’t physically touch or see. (more…)
Ever received an invoice on goods or services you’ve never ordered? These invoices can look like the real thing, but they’re phony. Invoice scams have caused huge losses resulting in millions of dollars bagged by fraudsters each year. Small businesses are at greater risk for this fraudulent activity since they’re least likely to have extra security measures in place. (more…)
What can be more devastating than having zero clients? You guessed it: Having to collect unpaid invoices! It is like setting a sharp blade on your bare skin. It is a sensitive topic to start with. When the work is done and no paycheck is found, frustration sets in. How do you collect payment without your client getting on your nerves? Can you still maintain a good customer relationship after finally getting paid? (more…)
Your business is up and running on the Web. You receive your first batch of orders. The demand for your products or services is even better than you anticipated. You become overwhelmed handling invoices, bills, and payments. Perhaps you are new to the electronic way of doing things and miss the traditional way of billing your customers. If this sounds familiar, you are not alone. Studies show that at least 84% of businesses still prefer paper billing. (more…)
When the future of work greatly depends on minimizing the office clutter, going paperless is becoming a reality sooner than we think. The clear and present danger imposed by global warming has created an urgent calling to go green. Did you know that in the United States alone, nearly 4 million tons of copy paper are used each year? Now, that translates to more than 700 billion sheets. (more…)
One of my favorite blogs is Small Biz Survival, not because I live in a small town, but because I am partial to them. They all have a local eatery with great pies, burgers, and conversation – and only the “locals” know about them.
So what does this have to do with Invoicing?? Lots. Recently Becky McCray posted an article on why businesses “procrastinate on invoicing”. Her conclusion: “It’s not fun”!
True, true, true.
Becky suggests 4 ways to attack the invoicing procrastination bug – all of them valid.
Why you procrastinate on invoicing and what to do about it
The question then arises: Which one will work for you?
I think that the answer lies in the type and size of your business. Mega-businesses may have more leeway on time for receivables. Micro-businesses, however, usually rely on healthy cyclic or even immediate payments.
Do you need consistent and timely turn-around of “work-performed to payment-received”? If so, then your habits need to become focused on getting that invoice out immediately. What could be more convenient to the micro-business owner than electronic invoicing?
Sharp, professional, customized invoices (or estimates) can be e-mailed to your customer’s computer from your laptop or smartphone. Do it before you even pull your truck out of their driveway! You can even set up automatic e-mail reminders for due dates – for those “procrastinating customers”.
For the Micro-business owner who thinks like a conglomerate, electronic invoicing may be “just the ticket”.
See you later. I’m off to the Beach Hut Café. They have the best breakfast along the eastern Florida coast. It’s a “local” thing !
Microbusiness owners rely heavily on timely receivables. The sooner your client has the invoice in-hand the faster you could see that money in YOUR hand. Sending invoices by e-mail shaves days off invoice aging which gives your client the opportunity to send payment the same day this invoice is received, thus increasing your positive cash flow. If you are still printing and mailing invoices, the following list may convince you to seek e-mail addresses from your clients:
1. Cost: The savings add up quickly.
- Ink – great looking PDF/e-mailed invoices – no printing costs
- Paper – unless, of course, you have stock in pulp factories
- Envelopes – (see reason above)
- Stamps – prices are already approaching $0.50 a pop and the climb will continue
- Gas – reduce trips to the post office/mailbox and office supply store
2. Time: Spend more of it growing your business.
- annoying printer issues
- folding invoices
- stuffing, sealing, stamping invoices
- driving to post office/mailbox
- additional mail delivery days for invoice aging
3. Environment: Green-up your operations.
Spare the need for:
Clearly there are some big advantages to paperless invoicing. Today most clients should willingly opt-in to receive invoices by e-mail since it is faster and more friendly to Mother Earth. However, some clients reluctant to make the switch from paper to electronic invoice delivery will require creative strategy. Consider offering a small discount to the clients willing to make the change. Suddenly everyone has incentive to decrease invoice aging!