March 16 2023
What's needed for an accurate invoice?
When you provide a service to a customer, it is important that you have an accurate and detailed invoice in order to get paid. An invoice is a document that itemises the services you provided, the cost of those services, and other pertinent information. But what should you include in your invoices? Let’s take a closer look at what should be included in your invoices so that they are accurate and complete.
Basic elements of an invoice
At its most basic, an invoice should include the date when the service was provided, the name of the customer who received the service, and the amount due for payment. It should also include contact information for both parties; typically this includes your business name/ABN/address/phone number as well as your customer’s name/address/phone number. This ensures that both parties have easy access to contact one another if needed.
Additional information on your invoice
In addition to these basic elements, it is also helpful to include other important information about the services provided on your invoice. You may want to provide a description of each service performed, as well as any necessary materials or equipment used in completing those services. This will help clarify any misunderstandings or discrepancies between you and your customer about what was included in the job. You may also want to list any applicable taxes on your invoice so that customers know exactly how much they are being charged for their work. Lastly, don’t forget to add payment instructions such as “Payable Upon Receipt” or “ 30 Days” so customers know when they need to pay their bills.
Make it look professional!
On bzTrack, you can add your company logo to make sure you’re sending out a professional looking invoice. To help, we’ve put together this video showing how easy it is to do.
Invoice Discounts
On the bzTrack platform, you can set up Invoice Discount Templates to reward customers who pay early. You might want to offer a 5% discount if they pay within 7 days — or every more if they pay you on the spot. Offering rewards rather than penalties can be extremely beneficial to both parties and help you manage your cashflow better.
Having an accurate and comprehensive invoice is essential when providing services for customers. By including all of the necessary elements — date, customer name, amount due — as well as additional details such as descriptions of services rendered and applicable taxes, you can ensure that all parties involved have full transparency regarding costs and labour associated with each job. With these tips in mind, you can create invoices quickly and easily while being confident that they contain everything they need!
Take a look at the free templates, Xero has on offer to get an idea how yours could look.
Head to https://www.bztrack.com/signup to create a free account and get started invoicing more efficiently and accurately.
