Freelancers have a tough job invoicing clients for work done. You have to be skillful in preparing invoices for your freelance business to succeed. Otherwise, you won't receive your money. Some of the clients could even send you less money because you never sent them an invoice to refer to before forwarding the payments into your account. According to the Bureau of Labor Statistics, around 1 out of 3 Americans work as freelancers today. If you're one of them, learning how to prepare a freelance invoice should be in your list of priorities.
One of the options available to you is using invoicing software to prepare an invoice for the freelance work you have done for your client. You have to search the market for excellent software to use for this purpose. In some cases, it would be better for you to use online software, as they are capable of tracking all your clients and the money they owe you easily. You can choose between free and paid for online software depending on your needs and financial status. Choose software that has all the features you need to prepare invoices and track clients.
Have you informed clients about your policies? Do clients know when to pay you for work done? Do you receive payment before commencing or after completing work? Inform the clients all your policies. The policies should indicate your preferred mode of payment, which can be credit cards, cash or checks. The policies should indicate the amount or percentage you accept as down payment. After formulating the policies, stick to them no matter what. Stick to the policies and pricing structure you developed on freelance invoice.
Do you know the most important rule in pricing? The rule says that you should never undercharge for your services. Find out what your competitors charge and use the information to set your own charges. Avoid entering low rates on the freelance invoice to attract more clients. If you quote low charges, expect to attract cheap clients who will haggle and harass you for discount, thus reducing your profits further. The invoice should be clear as to whether you charge hourly rates or per job.
According to Forbes, more than 50 percent of the US workforce shall comprise freelancers
. If that's the case, you have to begin marketing yourself as a professional freelancer. One way of doing this is by preparing and sending accurate freelance invoices to your clients. The invoice should include accurate charges. The invoice should clearly display the services you rendered to your client and the amount you charged for each. Lastly, the invoice should display the methods of payments that you accept, due dates for the payments and your contact details.