When running a coaching business, you need to be intentional about improving its general operation and also ensuring that your clients feel utmost satisfaction at the end of every session.
Like every other industry, you need to plan a means of dealing with the billing, invoicing, and accounting aspects of your coaching business. Else, it would be impossible to receive your payments on time.
Whether a health coach or life coach, this piece will help you understand why invoice templates are necessary and how every small business person can get paid faster by using a professional coaching invoice template.
Note: Try Bonsai, the best coaching tool to run your business. We have tax, task management, invoice templates and time tracking software to help you manage your business better. Claim your 7-day free trial here.
What is a Coaching Invoice?
Many people who enroll for coaching sessions often plan to either equip themselves well enough to reach a higher goal or to strengthen the skills they already have. They do this by counting on the guidance and support of a trained coach.
So, a coaching invoice is a document containing the total cost of the coaching services provided; you typically use it to bill your clients. To create invoices and get paid fast, you need to invest in a coaching invoice template.
Why Coaches Need Professional Invoice Template
Let's assume you run a life coaching company; one of the most important things to have alongside your other coaching tools is a "life coach invoice template." Why? because it allows you to:
Get Paid When Due
You don't always want to have to track late payments or spend a better part of your time sending a series of reminders to your clients and not getting a prompt response from them.
Fortunately, the Bonsai life coaching invoice template saves stress by providing you a means to create and send your invoices to the coaching client with so much ease. You can also automate payment reminders. That way, you never have to worry about following up on late payments.
Give your Client a Personalized Experience
With the Bonsai coach invoice template, you can impress your customers by creating custom invoices. This will make your customers feel like you are genuinely interested in their personal growth.
Calculate Taxes, Installments & Discounts with Ease
Usually, the process of calculating taxes can be daunting. But Bonsai makes the difference as you can automatically subtract discounts and calculate the tax percentages in a few minutes.
Support Your Customers
Coaching requires you to assist your clients in bettering not just their lives but also their business; you don't expect them to do all the calculations themselves.
With Bonsai, you can support your client by making an invoice and automating the calculations within a short period.
When Do You Issue Coaching Invoices?
It's one thing to provide services to your clients, but knowing the appropriate time to send invoices is a different thing. Send it too early, and the client might pick offense. Send it too late, and you might get into cash flow issues - you surely don't want either of these to happen.
When it comes to coaching invoicing, there's no standardized way of doing it; you only need to explore the options available and settle for one. That said, you can send invoices:
- In advance
- After completion of work
- At a specified milestone
- On a recurring basis
How To Customize a Coaching Invoice Template
To customize a professional coaching invoice template, there are a lot of free invoice templates that you can employ. One of the most reliable invoice templates is Bonsai.
Using Bonsai, you can generate a simple invoice template, bill your clients, automate cash payments, and track company expenses. It also allows you to set automatic payment reminders and get paid on time for your services.
If you are a coach or run a coaching tools company, here are some invoice details that will help you to customize a more professional invoice templates:
- Download the coach invoice template for free from Bonsai
- Add the invoice date and invoice number
- Customize the template with your business logo, theme color, and other necessary branding details
- Add your company name and contact information. (This could be your email address, company address, and phone number).
- List the services rendered alongside the hourly rate for each coaching session.
- Add the contact details of your client
- Include your most preferred payment method(s).
- Sum up the total cost of the services provided
- Mention your business payment terms, conditions, and other significant business details.
- Save and send your client the invoice template via email
Types of Coaching Invoices
Whether you prefer to bill per hour or charge monthly payments for your coaching sessions, Bonsai features varieties of coach invoice templates that will make payment processes faster for you. Let's look at some of them below:
This is where you only need to create a simple bill once the coaching sessions end. You can also use it to charge for add-ons.
You are paid for the entire period of coaching engagement with a client. Here, you can either choose to send your invoice bi-weekly or monthly.
Prepayment invoices are often sent to request deposits for an incoming project. Clients tend to use the prepayment invoice to book a space in the coach's calendar.
Other forms of coaching invoice templates are:
- Time-based invoice
- Credit invoice
- Debit invoice
The Bottom Line
Running a business can take up a lot of your time. You need to pay attention as much as possible to prevent things from going bad.
By implementing Bonsai invoice template software, you can reduce a chunk of your workload and focus on other vital areas of your business.