Talking Cents

Improving your invoicing process

Proper invoicing is an integral part of every business. Invoice processing can assist your company in keeping track of its cash flow on a continuous basis- which is a significant element in your accounting. Although invoice processing may seem easy, it can often be overlooked, and therefore neglected. There are a few phases in invoicing and can become more complex depending on the size of your business. Here at M.A.S Partners, the leading small business accountants in Sydney, we understand the importance of an effective invoicing process, and how it can lead to the downfall of a business if done incorrectly. As such, we have provided some tips to help you improve your invoicing process.

Communicate by phone

Often emails and messages can lead to miscommunication. As such, it is important that the first time you send someone an invoice, you should talk to the customer on the phone to make sure everything is in order. You should call them and ensure that they understand what they are being invoiced for, and how much, and then send them an email afterwards. This will ensure that both parties are on the same page, and that miscommunication is avoided.

Use invoice templates

This may seem obvious, but a lot of businesses prefer to write up their own invoices manually. Invoice templates are extremely useful! Save yourself time and ensure that you do not miss anything by utilising an invoice template.

Invoice as soon as the job is complete

Do not be afraid to invoice right away. Do not wait until the end of the month to send all your invoices. Be sure to send the invoice as soon as the job is complete! The sooner you invoice, the sooner you will receive your money- meaning there is less chance that your invoice will be forgotten about.

Follow up on unpaid invoices

Every business experience unpaid invoices. As such, you should follow up on unpaid invoices as soon as you can. Plan when you will chase overdue invoices and make it a priority. The last thing you want is a pile of unpaid invoices- meaning less money in your business.

Hire a small business accountant

Often when invoicing, it can be tremendously helpful to have someone who is an expert in handling invoices. Our small business accountants at M.A.S Partners are well-experienced in all field of accounting and can help free up your time so you can focus on growing your business. For more information on our small business accounting services, click here.