IT business consultants have to send numerous invoices for their services, which is why an IT consultant invoice template is necessary. The better-written your consultant invoices are, the faster you will receive payment.
But how do you write a consulting invoice? And how do you make sure that it is written effectively so that you get paid quickly? Read on, and you will find the information that you need.
Why Use a Consulting Invoice Template?
As someone providing consulting work, you have to bill for the services provided - and for that, you will need a consulting invoice. However, when you have unlimited invoices to send out, it can be hard to write them down from scratch every time.
Invoicing software can help you save time so that you can focus on the services provided instead. A consulting invoice template will have all the basic boxes and information so that you know you don't miss anything.
This is where a consulting invoice template comes in handy. There are numerous financing platforms and institutions such as Hello Bonsai that can offer you a free invoice template each time you have to receive a payment.
Formats of IT Consulting Invoice Templates
When it comes to IT invoice templates, there are several formats that you can use. Professional invoices are often sent out in the following form:
Microsoft Word or Google Docs
A consulting invoice template created in Google Docs is very easy to customize and you can even add a personal touch if you want to. You may change fonts, add colors, or even insert your company logo.
Microsoft Excel or Google Sheets
If you have calculations to make, such as applications to the hourly rate, or calculating total applicable taxes, then you may want to consider an Excel or Google Sheets invoice. These will do all the math for you.
Those sending consultant invoice templates by email might consider using the PDF format. This should help prevent any unwanted edits, especially if you password-protect it.
How to Write a Consulting Invoice
When writing your invoice template, there are certain steps that you will need to take. Whether you are using a free invoice template or are writing it yourself from scratch, here are the steps that you should follow:
Put Down Your and Your Client's Information
Your clients should clearly see who is sending them the invoice, and you also need to keep track of your consulting invoice templates.
Put down relevant information about yourself and the client. This can include the business name, contact details, the invoice number, and all the details you may find relevant.
Describe the Services of Your Consulting Business
An invoice will help you get paid for your specialized expertise. As a service provider, you know exactly what you are getting paid for - but your client may not know that.
For that reason, you should describe the work provided in the invoice, including project details as well as the hourly rate. These details need to be talked about and agreed upon before handing out the completed invoice.
Calculate the Payment Due
Calculate the payment due for your consulting services, as well as the due date when you expect to get paid. Don't forget to also calculate the taxes and ensure the payment or invoicing terms are as clear as possible.
Receive Your Payment for Services Rendered
Now that the invoice is done, it is time to send it to your client and get paid. There are several banking platforms that you can use, such as Bonsai, which can help you receive your money very fast. Bonsai also helps you to create an invoice, simplifying your task.
Tips on Creating a Consulting Invoice Template
When providing consulting services, you need to make sure you send invoices that reflect your abilities. Here are some tips to keep in mind.
Create a Timesheet
As someone providing consulting work, you will probably bill clients using hourly rates. As a result, you may want to keep a timesheet for your service and attach it to the consulting invoice. This will help you keep track of your billable hours.
Be Clear About the Due Date
If you are sending out an invoice, then you probably expect to be paid on time. As a result, the payment terms should also include a due date. This will encourage your clients to pay their bills on time.
Add an Expense Report
Your consulting service may also incur extra expenses. For example, you may need to travel a longer distance, or there may be on-site expenses that could not be avoided. In that case, you should add an expense report to your consulting invoice template, just so your clients know what they are paying for.
Accept Multiple Payment Methods
The world is continuously changing, which is why you need to make sure you accept multiple payment methods. Cash is good, but most people like to pay digitally now. You can use Bonsai, for instance, as it allows you to get paid through debit card, credit card, and ACH. The more methods you add, the faster you will get paid.
Customize Invoice and Add Personal Touches
When sending out consulting invoices, you need to show your client that you paid close attention to their requests. Personalizing your invoice template is a good way to do that.
Whether it involves a special request from your client or a personal note from you, this will be significantly appreciated. You may also want to add unique factors, such as an invoice number especially created with your client in mind.
Send It to the Customer as "Attention"
If you are providing consulting work to a larger company, you should also add an "Attention to" when you are writing your invoice. This way, you will be certain that the consultant invoice does not land on the wrong desk.
The Bottom Line
Sending out a consulting invoice after each project may seem like a bothersome task especially when you are busy with other projects. A consulting invoice template should help simplify matters, as it will give you a base to work on.