The wording appearing on the terms portion of an invoice have a powerful impact on freelancer service payments. This impact falls on the percent of invoices an independent contractor actually collects. It also affects the number of days before such a freelancer receives a check. This is according to this article.
With this knowledge in mind, some issues remain key when applied to an invoice template for graphic designer freelance payment terms. Edit your invoice with wording grounded on the recommendations below to make that big difference.
Always Remain Polite
Being a polite freelance graphic designer really matters. Remaining polite throughout is great for your professional image and branding. Simple lines like thank you for your business and please settle this invoice within 21 days can raise payment percentages by more than five percent. That is a lot of money each year.
Allow Only 21 Days For Payment
Do not use the word net but rather go for the word days. This gets your payments processed faster and more often. Using words such as net 30 days makes sense to some business owners. However, this kind of wording does not paint a clear picture for certain clients who are not so business savvy.
Upon receipt is another set of wording often misinterpreted. Use of precise terms like 21 days helps to focus your client's mind towards a precise timeframe. This assists in your getting paid faster rather than asking for an urgent payment.
Impose A Penalty On Delayed Payments
This is a good tactic referred to as the stick and carrot approach. It is good use the carrot through being polite. However, do not hold back on using the stick. Informing clients that late payments attract penalties may lead to slower payment. However, it does ensure more invoices ultimately get paid up.
Make Receiving Payments Easy
Most clients are likely to pay fast should they enjoy the convenience of paying you through online avenues. This means ensuring all your details necessary in making such payments are up to date and easy to access, particularly on your invoice, as stated in this article.
Online notifications that remind clients about approaching deadlines are worth considering. Even a very reliable client can sometimes forget to process a payment.
To Sum Up
Irrespective of the wording in the invoice terms, there is one very important thing to do to ensure prompt payments. This is to delight every client every time with excellent service delivery within schedule. This coupled with excellent manners and convenience makes a huge difference.