By Kevin Talley
Among many crucial business practices, learning how to keep track of invoices and payments emerges as mission critical. Recent statistics reveal that 11% of customers never receive their invoices, with 35% of unpaid invoices remaining for over 30 days. These numbers underscore the importance of invoice monitoring, as it safeguards revenue streams and fosters financial … Continued
By Kevin Talley
As your contracting business grows, so does the size of your projects. Instead of wrapping up in just a few days, projects can take weeks, months or even years to complete. When these larger projects start to become your norm, your business is probably at a point where it has outgrown a bill-as-you-go system. In … Continued
By Kevin Talley
There are many things a business owner can put off, but invoicing is not one of them. Timely invoices help ensure a healthy cash flow so you can keep your business running. However, it’s not enough to just tell your customers how much is due. You need an invoice that includes: The last invoice item … Continued
By Kevin Talley
We’ve all been there. You’ve done the work, sent the invoice, and… crickets. Suddenly, that hard-earned money feels a lot further away than it did a few weeks ago. Despite businesses doing their best to stay on top of payments, the late payment struggle is real. The 2022 Late Payments Report reveals that a whopping … Continued
By Kevin Talley
What is “Net 30,” & What Does it Mean on an Invoice? Net 30 is a payment term for invoices. When this term is included on an invoice, it means the customer has 30 days to pay the total. With net 30, you’re extending credit to your customer and allowing them to purchase services and … Continued
By Kevin Talley
A pro forma invoice, also known as a proforma invoice, is an invoice draft that business owners and freelancers can send to customers before beginning a project or asking for payment. A proforma invoice is not a bill; it is simply a way to calculate and notify the customer of the cost of the order … Continued
By Kevin Talley
How to Fill out a Rent Receipt (with Example) If you receive rental payments for the property you own, you need to make rent receipts (a.k.a rental receipts) a part of your payment process. A rent receipt is a “proof of payment” document that shows the rental price paid, any added fees, and the date … Continued
By Kevin Talley
How to Charge Late Fees on an Invoice (with Example) Did you know that on average, small businesses spend 15 days each year chasing down late invoice payments? Not only is that an annoying statistic, but it’s also a costly one. You could spend those days working on other projects (and getting paid for them), … Continued
By Kevin Talley
How to Write a Past Due Invoice Email (& Deal with Ghosting) As a freelancer or business owner, chances are you’ve had to send at least one past-due invoice email or payment reminder. In fact, 54% of businesses are currently experiencing delays in payments due to pandemic-related challenges. It can be tricky to get the … Continued
By Kevin Talley
How to Write a Strong Invoice Email – 3 Examples & Templates As a freelancer or contractor, you need to send invoices for your work. It’s important to write these invoice emails in a way that gets them paid as quickly as possible. In this article, we’ll outline what you need to include to write … Continued
