Any person who opens a business wants to see it grow. Achieving this goal is one of the biggest challenges of owning a business. Nonetheless, it's achievable. There are plenty of tools that you can use to make this a reality. For starters, one of your most effective weapons for growing a business is the design invoice in QuickBooks. It enables you to raise the finances needed to take the business to the next level, according to Department of Industry, Innovation and Science.
The design invoice in QuickBooks is a great way of getting paid. It ensures you receive payment for work that you do for your clients. As any person who has run a business for a substantial length of time will tell you, working or doing the work for your client is the easiest part of running a business. The most challenging part is waiting for payment. You never know whether the client will meet his end of the deal and make payments on time as agreed.
Understanding the risks involved with working as a freelancer or on contract is the first step in ensuring you're paid and collect all monies owed to you. Before embarking on any work, consider the risks. Ask yourself whether the client is one likely to take off with your payment. Find out whether the client will put up obstacles that make it difficult to pay you. After evaluating the risks, set the appropriate rate via QuickBooks.
Use QuickBooks to set the terms from the beginning. For example, let the client know that you expect payment immediately you finish the work you're currently doing. Alternatively, let the client know that you expect payment within a specified period, such as 30, 60 or 90 days after submitting work. Use the invoice to set the payment terms clearly and in writing. Many clients fail to honor the terms but this should not dissuade you, according to an article on Guardian.
Nonetheless, make the terms clear and easy to understand.
Lastly, once you design invoice in QuickBooks, your next target should be to send it to your clients as soon as possible. Your client is most likely to pay for invoices based on the order he receives them. Therefore, stop delaying and send the invoices early. If possible, send the invoice when submitting work. The program, QuickBooks, is like an invoice generator, which makes the invoicing process flow smoothly and faster.
Therefore, follow these tips to grow your business by ensuring clients pay you on time.