Typically, getting paid for all the work you’ve done as a freelancer can be a fulfilling process. With all the dedication, patience, and time you’ve given to create an end product, you’ll surely want to be rewarded for it in return. This is what is getting paid for all your services using an invoice all about. Creating first invoice can be essential as a freelancer. Here’s how you can write your first freelance invoice and make your life easier.
However, the process of creating an invoice can be a daunting process, especially if you don’t know what to do in the first place. However, if you want to improve your chances of getting paid on time and without hassle, you need your invoice to look professional from the get-go.
If you’re a freelancer, here’s how you can write your first freelance invoice and make your life easier as a freelancer.
- Check Your Contracts
Before preparing your first invoice template, it’s important to check your contracts carefully. In most cases, one of the common reasons of not getting paid on time by your freelance clients is that the request for payment doesn’t match up with the original terms of the contract. Accounts payable automation is essential for any freelance businesses that want to improve their cash flow and maintain healthy relationships with clients.
To avoid issues in the invoice-making process, be sure to review the following terms:
- Deadline of the project
- Special payment terms, including the delivery methods
- Accumulated projects before you can request payment
As you can see, there are many things to check in your contracts before creating the actual invoice. Become familiar with them to ensure a smooth invoice-making process from the start.
- Take Note Of The Information To Be Included In The Invoice
Once you’ve reviewed the terms of your contract, the next thing to do is to list down all the information that should be included in the invoice. In today’s digital world, there are many reliable invoice generators for freelancers that can help you generate invoices. But, if you want to know how they should be done, you should take note of the following elements of an invoice:
- Professional Header: It should contain your full name and business name. Make sure that it’s in easy-to-read style and clear at the same time.
- Contact Information: It contains your website, mailing address, phone number, and email address. Be sure to place these details below your freelance business name so it’s easy to locate.
- Client’s Contact Information: It includes the name of the client, contact number, email address, and other relevant information. When you include your client’s information, you can specify who the invoice is intended for.
- Invoice Number: It’s used to identify the invoice you’re making. This is especially true if you’re serving several clients on a regular basis. Also, when adding an invoice number, make sure it’s unique and distinct from others to keep track of your invoices.
- Date Prepared: It refers to the date when you sent the invoice to your client. It’s an essential element, especially when you need to determine if there’s a delay on payment or not on the part of the client.
- Due Date: Be sure to specify in the invoice when the payment should be due and demandable. Whether it’s 30 or 60 days or due upon receipt. The choice is yours.
- Payment Options: It refers to the type of payment method you wish your client should pay. The common options can include payment in cash, credit card, check, online payment services like PayPal, and many more.
- Payment Terms: It contains information specifying what happens when the invoice is past the due date. For example, you might want to charge a late fee of 10 to 20 percent of the total invoice fee.
- Breakdown Of Services: It contains the services you’ve actually rendered to the client. It can help the client know what services they’re paying for.
- Amount Due: It’s the total amount which is due for payment. Account for all the services rendered to avoid errors when payment is made.
- Thank You Part: It contains a thank you line which is located below the total amount due. It’s beneficial, especially if you want to maintain a good business relationship with your clients.
- Consider The Out-Of-Pocket Fees And Expenses
When making your first freelance invoice, you should know that you’re not only dealing with the price of the services you’ve rendered. You should also consider the taxes and fees that come with your contract. This is especially true if you have complicated contracts with clients that require some out-of-pocket expenses on your part as a freelancer. In such a case, account for these fees in your invoice for easy reference.
The Bottom Line
Indeed, creating your first invoice can be essential in making sure you get paid as a freelancer. But, if you want the process to go smoothly, keep this article in mind, and you’re good to go. Lastly, if you want to avoid headaches and save money in the long run, using an online template or software can be a great option.
