Invoices are one of the most important documents that your business will use. Not only does it serve as a bill of services, it allows you to build a relationship between your business and your customers. Not having the proper information on your invoices could majorly impact your businesses bottom line.
Before you send out your next invoice make sure you include these five must haves:
Your Business Information
This should include the complete business name, address and other contact information such as your phone number and email address. This will offer necessary information, not only for payment, should the customer need to contact you.
This should include the company name if it is not an individual being billed, address and account number. If the invoice needs to go to a specific person’s attention, include that in this section.
Although this may seem like a no-brainer, it is important to have the correct amount due clearly displayed on your invoice. This will make sure that the customer knows exactly what they need to pay.
Date and Terms
There are several dates that are important on an invoice, the date the invoice was sent, the date or dates of services provided or products sold, and the day or time frame the payment is due by. The terms allow the customer to know if there are any discounts for early payment or penalties for late payment.
Description of Goods and Services
This information allows the customer to know exactly what product or service was purchased. If the invoice is for a product it should include the name, quantity and price per unit of product. If the invoice is for a service it should include a description if the service provided, the price per hour and the number of hours being billed.
An invoice can be as simple or as detailed as you would like to make it. As long as you have the above information included on your invoice, you will ensure that your business will be able to turn your invoices into payments in a timely manner.
Now it’s your turn – Do you agree with the 5 must haves? Are there other items that should always be included on an invoice? Share your thoughts and comments below in the comment section.
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