Whether you're a freelance architect offering your professional services independently or running your own firm, you must have total control over your billing, payment process, as well as project and expense tracking. If your architecture firm expands, you will need full-service invoicing software to automate your tasks. But with so many new invoicing and accounting software out there, it can get very difficult to find the right one for your business.
In this article, we will go over some of the main benefits that a well-rounded architecture invoicing software will bring to your business and tell you about the all-in-one product suite that is here to revolutionize your business.
Note: Use Bonsai's complete invoicing software to take your architecture firm to the next level. Automate your billing process with free invoice templates, and the best follow-up tools to get you paid faster and efficiently manage your company finances.
An efficient invoicing software will help you manage your business like never before. It's a great option to streamline many company procedures affordably. By reducing your workload, you'll have more time to stay on top of case studies, designing, planning, and building projects for your clients. Here's why you must invest in invoicing and accounting software for architects.
Keeping track of your expenses is essential to maintaining a good grip on your business finances. Full-service invoicing and accounting software makes tracking and categorizing your spending easy so you can see exactly where your money is going. This way, it is simpler to bill clients for the costs you incur on their behalf. Additionally, having access to timesheets will help you manage your tasks, including budgeting, time tracking, and customer billing.
Timesheets will also allow you to compare the number of hours spent to the budget when a project is over, so you can plan more precisely going forward.
A decent invoicing and architecture accounting software should help you comply with your local tax laws and make handling taxes simpler. Using this type of administrative tool can speed up tax calculations when dealing with different tax rates and assist you in applying the proper tax to your transactions more precisely. To help you stay organized and prepared for tax season, it may also assist you to comprehend your taxes by providing tax summary reports.
Automating this process will save time and frustration from filing your quarterly tax estimates and yearly reports. Try the best accounting software for freelancers here.
Collecting money might be overwhelming if your clients are not given a suitable method for making payments. But by using an invoicing software, you can integrate multiple online payment options including online bank transfers and credit and debit cards. This gives your customers a quick and secure option to make payments and it helps you keep track of the payments you receive updating them automatically under the relevant invoice in your accounting system.
When using a complete invoicing software, you may see a considerable increase in your cash flow. This is because there will be faster (and professional) invoice production, allowing you to bill in a timely manner, therefore getting paid on time or even earlier. Plus, invoicing software can automatically fill in dates and fit layouts, and among other things, it can increase the accuracy of invoices. They enable you to focus more on the bills' content, which will raise the quality of the invoices you produce.
Bonsai is the ideal tool for freelancers and small business owners looking to optimize back-office operations in one single platform. Our invoicing and accounting software provides many advantages to architecture professionals who don't know where to start. From creating and sending an invoice, to receiving payments and doing taxes, using Bonsai's invoicing software will do wonders for your business. Take a look at what we can do for you.
With our invoice generator, you'll get fully customizable and professional-looking invoice templates especially designed to fit your architecture business. We help you create perfect invoices that cover all necessary information and provide consistency to your billing process. You'll be able to add your architecture company branding elements such as logo and slogan and create a numbering system to help you track payments.
With Bonsai, you can easily follow up on payments once an invoice is sent out. Our invoicing software allows you to automatically send payment reminders, receive partial payments, and apply late fees to overdue accounts. You will also have a convenient dashboard to track whether invoices have been paid, seen, or opened.
Bonsai's smart automation will take the burden out of business management so you can reduce the time spent on paperwork and focus on growing your architecture firm. We go beyond simple billing software, offering a winning all-in-one project management software that helps you automate every aspect of your business, covering customer relationship management (CRM), pitches, proposals, contracts, financial management, taxes, and even managing payroll.
Architecture firms servicing international customers must be prepared to deal with various currencies. Using Bonsai's invoicing software, you can accept payments in over 180 currencies while still handling your accounting on your own, eliminating inconsistencies and additional calculations. You can also incorporate a variety of internationally known online payment options, such as PayPal and Stripe.
Freelancers receive payments on average 13 days sooner and deal with three times fewer late payments when using Bonsai's global payment options and innovative invoicing capabilities. With our easy-to-use software, you can immediately invoice your clients once a project is completed, clearly communicating when and how you expect to get paid and making it very easy for them to complete the transaction.
Sign up today and discover the ultimate invoicing efficiency that will make you wonder how you ever did business without it.
A verbal contract (formally called an oral contract) refers to an agreement between two parties that's made —you guessed it— verbally.
Formal contracts, like those between an employee and an employer, are typically written down. However, some professional transactions take place based on verbally agreed terms.
Freelancers are a good example of this. Often, freelancers will take on projects having agreed on the terms and payment via the phone, or an email. Unfortunately, sometimes clients don't pull through on their agreements, and hardworking freelancers can find themselves out of pocket and wondering whether a legal battle is worth all the hassle.
The main differences between written and oral contracts are that the former is signed and documented, whereas the latter is solely attributed to verbal communication.
Verbal contracts are a bit of a gray area for most people unfamiliar with contract law —which is most of us, right?— due to the fact that there's no physical evidence to support the claims made by the implemented parties.
For any contract (written or verbal) to be binding, there are four major elements which need to be in place. The crucial elements of a contract are as follows:
Therefore, an oral agreement has legal validity if all of these elements are present. However, verbal contracts can be difficult to enforce in a court of law. In the next section, we take a look at how oral agreements hold up in court.
Most business professionals are wary of entering into contracts orally because they can difficult to enforce in the face of the law.
If an oral contract is brought in front of a court of law, there is increased risk of one party (or both!) lying about the initial terms of the agreement. This is problematic for the court, as there's no unbiased way to conclude the case; often, this will result in the case being disregarded. Moreover, it can be difficult to outline contract defects if it's not in writing.
That being said, there are plenty of situations where enforceable contracts do not need to be written or spoken, they're simply implied. For instance, when you buy milk from a store, you give something in exchange for something else and enter into an implied contract, in this case - money is exchanged for goods.
There are some types of contracts which must be in writing.
The Statute of Frauds is a legal statute which states that certain kinds of contracts must be executed in writing and signed by the parties involved. The Statute of Frauds has been adopted in almost all U.S states, and requires a written contract for the following purposes:
Typically, a court of law won't enforce an oral agreement in any of these circumstances under the statute. Instead, a written document is required to make the contract enforceable.
Contract law is generally doesn't favor contracts agreed upon verbally. A verbal agreement is difficult to prove, and can be used by those intent on committing fraud. For that reason, it's always best to put any agreements in writing and ensure all parties have fully understood and consented to signing.
Verbal agreements can be proven with actions in the absence of physical documentation. Any oral promise to provide the sale of goods or perform a service that you agreed to counts as a valid contract. So, when facing a court of law, what evidence can you provide to enforce a verbal agreement?
Unfortunately, without solid proof, it may be difficult to convince a court of the legality of an oral contract. Without witnesses to testify to the oral agreement taking place or other forms of evidence, oral contracts won't stand up in court. Instead, it becomes a matter of "he-said-she-said" - which legal professionals definitely don't have time for!
If you were to enter into a verbal contract, it's recommended to follow up with an email or a letter confirming the offer, the terms of the agreement , and payment conditions. The more you can document the elements of a contract, the better your chances of legally enforcing a oral contract.
Another option is to make a recording of the conversation where the agreement is verbalized. This can be used to support your claims in the absence of a written agreement. However, it's always best to gain the permission of the other involved parties before hitting record.
Fundamentally, most verbal agreements are legally valid as long as they meet all the requirements for a contract. However, if you were to go to court over one party not fulfilling the terms of the contract, proving that the interaction took place can be extremely taxing.
So, ultimately, the question is: written or verbal agreements?
Any good lawyer, contract law firm, or legal professional would advise you to make sure you formalize any professional agreement with a written agreement. Written contracts provide a secure testament to the conditions that were agreed and signed by the two parties involved. If it comes to it, a physical contract is much easier to eviden in legal circumstances.
Freelancers, in particular, should be aware of the extra security that digital contracts may provide. Many people choose to stick to executing contracts verbally because they're not sure how to write a contract, or they think writing out the contract terms is too complicated or requires expensive legal advice. However, this is no longer the case.
Today, we have a world of resources available at our fingertips. The internet is a treasure trove of invaluable information, platforms, and software that simplifies our lives. Creating, signing, and sending contracts has never been easier. What's more, you don't have to rely on a hiring a lawyer to explain all that legal jargon anymore.
There are plenty of tools available online for freelancers to use for guidance when drafting digital contracts. Tools like Bonsai provide a range of customizable, vetted contract templates for all kinds of freelance professionals. No matter what industry you're operating in, Bonsai has a professional template to offer.
A written contract makes the agreement much easier to prove the terms of the agreement in case something were to go awry. The two parties involved can rest assured that they're legal rights are protected, and the terms of the contract are sufficiently documented. Plus, it provides both parties with peace of mind to focus on the tasks at hand.
Bonsai's product suite for freelancers allows users to make contracts from scratch, or using professional templates, and sign them using an online signature maker.
With Bonsai, you can streamline and automate all of the boring back-office tasks that come with being a freelancer. From creating proposals that clients can't say no to, to sealing the deal with a professional contract - Bonsai will revolutionize the way you do business as a freelancer.
Why not secure your business today and sign up for a free trial?