Invoicing is an essential part of every business, even though it may be labor-intensive and time-consuming as well. Many business owners find this administrative aspect of their business an uphill task, which has driven some to employ third-party firms or accountants to handle invoicing for them. However, entrepreneurs and small businesses may consider alternatives that are simpler and affordable to do their billing.
One way to do your invoicing seamlessly as an independent contractor is to go for a downloadable invoice template. Such a template simplifies your work and gives you more time to focus on your business. The method pays you off, especially when you adopt some simple invoicing tips and strategies to get faster payment. So, it means you save yourself from spending heavily on software or third party professionals to handle your billing needs.
Bonsai is one of the platforms to get a downloadable invoice template that suits your business. On the site, you have the option of creating a model for your business or downloading a template to your local computer. So, you can always edit the template to fit your needs whenever you need to bill a customer.
There are many solutions to create a downloadable invoice template. Your choice will be dependent on the following factors:
A downloadable invoice template is simple to use and saves you the stress of crafting a new bill every time you have to invoice a client. Once you create a template, you can save it or download it to your computer to generate faster invoices in the future. Independent contractors and freelancers will benefit a lot using the Bonsai invoice template.
See the most critical information to include when creating your template.
The header section is where you define the document as an invoice. Also, include your business name and logo and make the bill speak the theme of your business by adding your color. Include the date you created the bill and generate an invoice number for the document. Use the alphanumeric system to reference your invoices; it is useful for tracking the status of the document.
Create a field to add your contact details as the sender of the invoice. Don’t limit this section of your downloadable invoice template to just your email address. At least, the section should contain your mailing address, email, and phone contact plus that of your client in the following manner:
These are the list of the products or services for which you are billing a client. It could be one or several items, but ensure you list each on a line if you have more than one. Create a table and briefly explain each of the items. Mention the name, quantity, rate, and amount for each item.
Sum the fees and create a separate field to add this figure representing the total amount of the goods or service. Then, create a field in the downloadable invoice template to take care of taxes, shipping fees, and other elements like discounts that would affect the total due payment for the client.
Add the other fees to the initial sum and remove the discount fees if you offer any to your client. Discounts and penalties are discreet ways to encourage early payment from clients.
Clarifying your payment terms and conditions makes it easy for clients to respond to invoice promptly. You may add your preferred payment method and currency (if sending an invoice to oversee) plus the due date. "Due upon receipt" may sound too urgent to your client while Net 30 days, 45 and 60, may fit your plan.