Consulting is a unique profession that comes with its own set of billing challenges. From dealing with multiple clients to managing complex projects, you need a flexible billing solution that can scale with your business. You also need business consultant software that's easy to use so you can spend more time working and less time billing.
Enter Bonsai. Bonsai is a comprehensive billing solution that offers all the features consultants need to streamline their billing and invoicing processes.
Here are just a few of the reasons why Bonsai is the best invoicing software for consultants:
Note: Try the best consultant invoicing software today. Our tool lets you set up partial/recurring billing requests and allows you to automate the entire billing process. Claim your 14-day free trial today.
Time is money, and as a consultant, you need to make the most of both. This is where invoice automation comes in. With invoice automation, your billing software will take care of the administrative tasks associated with invoicing, such as sending reminders and follow-ups. This means that you can focus on more important things, like consulting.
Bonsai’s invoice automation features are some of the best in the business. With Bonsai, you can set up recurring invoices, so you don’t have to manually send an invoice each month. You can also automate late payment reminders and thank-you notes. You can even set up a late payment fee, so you’re compensated if clients pay you late.
Your clients will appreciate the convenience of automated invoices and you will love the time it saves you – time that you can bill for.
Professionalism is key in the consulting world. Your clients need to trust that you are an expert in your field and that you will deliver on what you promise. This means that every touch point with your client – from your website to the invoices you send – needs to look professional.
Your billing software should come with a selection of professional-looking invoice templates for you to choose from. This will save you time as you won’t have to design your own invoices from scratch each time. Instead of fumbling around with a pen and paper, and worrying about the layout, you can simply select a template, fill in your information, and hit send.
Bonsai offers a wide range of invoice templates that are designed with consultants in mind. From simple designs to more complex ones, there’s an invoice template for every type of consultant.
Note: Get access to our full library of customizable invoice templates for consultants by signing up with Bonsai. You'll get access to our contract, proposal, invoice templates and a suite of all our other task management, time tracking and tax software. Claim your 14-day free trial here.
Most consultants can agree that a large part of the consulting profession is communicating with people from around the world. Whether you have clients in different countries or you travel for work, being able to invoice in multiple currencies is crucial.
Your invoicing software should allow you to easily change the currency of your invoices. This way, if you have a client in Europe, for example, you can quickly switch to billing them in Euros without having to recreate your entire invoice.
Bonsai makes it easy to bill customers in over 180 different currencies. You simply need to select the currency you want to bill in and Bonsai will automatically update your invoice.
Convenience holds a lot of power when it comes to consumer choice. If your invoicing software only offers a single payment option, then you’re not giving your customers the convenience they crave.
Bonsai offers a variety of payment options for customers, including credit cards, debit cards, PayPal, online payments, and bank transfers. This gives your customers the flexibility to pay you in the way that’s most convenient for them.
As a consultant, you may find yourself in a situation where a client wants to pay for only part of your work. Perhaps they’re happy with the work but don’t have the budget to pay for it all at once. In this case, you need to be able to invoice for partial payments.
Bonsai makes it easy to invoice customers for partial payments. When creating an invoice, you can specify the amount you want your customer to pay now and the amount they’ll need to pay later. You can also choose when you want them to make the second payment.
This feature is especially useful if you’re billing for a project with multiple milestones. You can bill for each milestone as it’s completed and receive partial payments throughout the project. This way, you’re not waiting until the end of the project to receive payment and can better manage your cash flow.
Most clients are happy to make partial payments if it means they can better budget for your services. Offering this payment option will make it easier for them to pay and make it more likely that they’ll use your services again in the future.
The last thing you want as a consultant is to be stuck in a time-tracking nightmare. Time tracking is essential for billing, but it can also be a huge pain if you don’t have the right tools.
Your billing software should make it easy to track your time so that you can bill clients accurately. Bonsai offers a variety of consultant time-tracking and task management features to help you stay on top of your billable hours.
You can create timesheets to track billable hours for a specific project or client. This is a great way to stay organized and ensure that you’re billing your clients for the right time.
Also, you can set an hourly rate per-project or per-client. Such a feature allows you to automatically calculate how much your client owes you for each project based on the hours you’ve tracked.
Bonsai’s time-tracking features are simple and easy to use. With just a few clicks, you can track time, generate invoices, get paid, and collect payments from one platform.
Note: Track your time for tasks much easier with Bonsai. You won't have to worry about losing productivity as Bonsai automatically records your time while you work. Try it out for yourself and se how easy it is. Claim your free trial here.
Running a consulting business can often feel like a juggling act. You'll often constantly switch between projects, clients, and administrative tasks.
But with the right time and billing software, you can take some weight off your shoulders. Bonsai offers everything you need to streamline your invoicing process and take your business to the next level.
Recommended reading: Use our checklist for starting a consulting business to get off on the right foot when creating your own practice.
With its professional-looking invoice templates, project management capabilities, secure client portal, time-tracking features, accounting software for consultants, invoice management features, and invoice automation, Bonsai is the clear winner when it comes to billing software and time-tracking software for consultants.
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?