Your sales invoices provide documentation that helps to substantiate the information you list on your tax filings annually. #Invoicing meaning manualThere’s the software you can use to automatically track inventory based on your invoices, or you can develop a manual tracking system of your own. If your business keeps inventory, sales invoices can facilitate you to track how much inventory you have and predict how much you’ll need within the future, based on past sales. An invoice will also give a record of the number of clients that agreed to pay you for your services and signed invoices can function as legally binding agreements. For invoices sent to smaller companies or individuals, consider sending a short and friendly note along with your request for payment.Invoices help to protect small businesses from false lawsuits because invoices provide details of the services you provide to your clients and therefore timeline of after you complete the work. If there are any issues to be ironed out, the process will go more smoothly once you have made phone contact. Since the person now “knows” you, your invoice will get personal and speedy attention when it arrives. If you are sending invoices to large companies, it’s a good idea to pick up the phone and introduce yourself to someone in the accounting department. Using online software which creates the invoices for you and sends them via email is the easiest way to do this. Make sure they include all the pertinent information and are printed nicely. If you want your business to be taken seriously, you need serious-looking invoices. If payment is not forthcoming, chase it down and politely and firmly make it clear that you expect immediate payment. (When you quote a price to the client, add this discount percentage on to the total so you don’t lose out by offering the deal.) Remember that payment will arrive only after you send out an invoice, so don’t put it off and don’t be passive. To ensure timely payment, you can either charge a late fee, or even more effective, offer a discount for early payment. This way the customer doesn’t have to calculate or conveniently become confused about when you are expecting payment. In addition to letting your customers know you expect payment within, say, 14 days, it is helpful to include an actual date on the invoice.
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