Invoicing Top Tips

Invoicing Top Tips

I understand invoicing is the bane of many small business owners lives and for that reason, it is no surprise invoicing is one of the most common tasks regular clients choose to outsource to Busy Lives!

Ensuring you send invoices and get paid on time is the life blood of any business, but it does require a regular time commitment and a focused follow-up. During the past few years, businesses have been reluctant to chase overdue invoices as frequently as pre-pandemic, but this is starting to change now.

Having used many different invoicing programmes such as Xero, QuickBooks, Excel etc. I have picked up some great tips along the way to support businesses with their invoicing needs and I will be sharing in this blog:

My Top Tips are:

  • Depending on the size and nature of your business, I would recommend you always invoice your clients either weekly or monthly. Always on the same date / day to ensure easy payment.
  • Always use the date you did the work, not the date you’re generating the invoice.
  • Ensuring invoices are paid on time is crucial when running a small business, to mitigate the risk of late payments make sure your payment terms and due date are clear and your invoices are completed fully. I regularly review my clients’ invoices to ensure compliance.
  • State your preferred method of payment (such as direct debit or the fact you do not accept credit cards). Be clear & reduce issues further down the line.
  • Avoid confusion on both ends by requesting clients uses their invoice number when paying electronically, this will minimise the need for you to trawl through your online banking, saving you precious time.
  • Always ask the client who the invoice should be addressed and sent to, when dealing with other businesses this may not always be the Director and may need a purchase order number adding.
  • Provide as much information as you can to your customers when generating an invoice, be clear with exactly what you are charging them for to reduce confusion that could lead to late payments and time wasted with clients querying their invoices.
  • If you charge VAT, double check the software you’re using is taking this into account and is charging the correct rate as this human error is often made when using automatic invoicing software to save time.
  • Most importantly and the one many small business owners shy away from is, do not be afraid to chase the payment! Both as Xero and QuickBooks have the option to send automatic reminder emails. If clients fail to respond to those emails, pick up the phone.
  • Ensuring you keep a secure record of all the invoices you generate for HRMC to save time when filing your financial accounts and tax return

After many years of clients outsourcing their invoicing to Busy Lives! I also have some great ways I can help clients improve their invoicing process for those outsourcing their invoices for the first time:

  • Create a clear and consistent key of all your service areas by assigning a letter to each one, this will save you and the person managing your outsourced invoicing time and confusion.
  • I can help you create an easy-to-use table to streamline all your invoices showing the service their receive and the amount to be invoiced and their payment terms if they vary Again, this saves time for the business owner.
  • Keep detailed monthly stats on who pays you via direct debit and who pays on time / late. I regularly provide my clients with detailed stats highlighting key trends, average order values and the most popular services being used.
  • Use data to ensure you can make decisions about your business – are you receiving the income you need? I provide regular tracking data to help you track and measure your invoices. Clients find this useful and something they would not have the time to do.
  • Don’t forget to send reminders and chase for payment. I always help clients to successful chase debts by creating a 3-stage process and email communications to help ensure invoices get paid. You would be surprised how many don’t like chasing but with simple, friendly communication it can really work wonders.

 

I manage invoicing for a busy Marketing Agency in the East Midlands, and this is what she had to say about my work

“Karen has a very keen eye for detail and has helped set up and implement some procedures into the business around invoicing, all saving time and money. Highly recommended!”

Using the tips mentioned above to either manage or outsource your invoicing will allow you to save precious time! If you would like to learn more about how outsourcing your invoicing can save you time call Busy Lives! 07565 722 031.

Alternatively, you can drop me a message on LinkedIn / Messenger on Facebook or email: karen@busylivesnottingham.co.uk to discuss your requirements!

Time-saving Tips for Business Owners for 2022

Time-saving Tips for Business Owners for 2022

Is one of your business goals for 2022 to save time to be able to focus on the important tasks within your organisation? Use these time-saving tips to streamline your businesses procedures and increase your efficiency.

  1. Keep your information organised!

We are all guilty of spending precious time looking for records that are lost or misplaced.  Ensuring your database is updated, accessible and backed up regularly is crucial for saving time. When managing your database ensure record names and labels are clear and consistent to avoid confusion at a later date. If you do not have an existing online database, I can work with you to move your existing paper-based data online. I work alongside organisations migrating their database online and ensure the data carried over is correct, up to date, well organised, secure and compliant giving you added peace of mind.

  1. Write your to-do list for the following day before you leave the office

Having your priorities clearly listed for the day can help you feel ambitious and motivated from the minute you enter the office. The morning is when your productivity levels are likely to be at their peak, having a plan for the day can fuel your efficiency as you’re utilising your energy on important tasks as opposed to using this momentum to plan your day. It is also a great way to start your day with a clear focus as you’re likely to be less stressed when you realise your itinerary for the day has already been planned.

  1. Keep an eye on the clock

Understanding how much time you need for each project can help you better plan your days and waste less time. As silly as it sounds keeping an eye on the clock is an easy way to minimise the time you waste.

Calculate the time your everyday tasks should take to complete and set yourself time-constrained goals for completing them. An easy way to manage this is to set alarms on your phone for completing individual tasks or block out time in your diary to do those key tasks you try your best to put off. If you need help carrying out the tasks you try your best to avoid you may benefit from outsourced help to help you save time and boost your personal productivity.

Using the tips mentioned above or outsourcing will allow you to increase your productivity levels, minimise stress and accomplish more, helping you achieve increased success in 2022 and beyond.

If you would like to learn more about how outsourcing can save you time in 2022 call Busy Lives! 07565 722 031. Alternatively, you can drop me a message on LinkedIn / Messenger on Facebook or email: karen@busylivesnottingham.co.uk to discuss your requirements!