Three Steps to Build A Better Invoice | United Capital Funding

Sending an invoice and waiting isn’t going to get you your funds as quickly as incorporating one or more of these three components to your invoicing process.

Simplifying your invoicing verbiage and using more direct language can help your debtors understand what you expect from them after receiving the invoice. Be sure to give a specific date on which the payment is due, helping to give a hard and fast date for payment that can be marked in calendars.

Use “days” on your invoice instead of “net”.

Letting fees slide doesn’t push clients to stay on top of their bill-paying. Your late payment fees start to become more of a threat than a promise. Make sure you enforce them. If the specified due date has passed and you have not yet received payment, increase the bill by adding a fee to the original invoice amount. Encourage your Clients to pay faster By implementing the use of late payment fees. This fee can be processed as a simple flat rate, or a percentage of the invoice. When implementing late payment fees, note these fees on any service contracts or product receipts, and include the late payment fee information on the invoice itself.

These three aspects of collecting owed funds can help you create an invoicing system that cannot be ignored, except blatantly. Clients that don’t pay in a timely manner with thorough invoicing processes may end up being ones you don’t want to do business with in the long term. United Capital has helped businesses since 1997 for payroll and invoice funding.

Three Steps to Build A Better Invoice | United Capital Funding