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10 Ways to Ensure Your Invoice is Correct and You Get Your Payment When Due
Once you've completed your assigned Virtual Assistant services the logical next step is to create an invoice and bill your clients for the work you've done.
Obviously your invoice is your accounting record of money owed into your business from your clients, but there is a lot more to invoicing correctly than just the dollar figure at the bottom.
Let's begin at the top and work through some things you should include on your invoices – although most of this information will have been included in your signed booking form.
1. Professionally Presented
Your invoice is the part of your business your clients see, so make sure it's presented as professionally as possible. The payment figure at the foot of your invoice is the obvious item every client looks for, but the peripheral details will register in their minds, whether they recognize it or not.
2. Business Details
Your name or the name of your registered business needs to be placed at the top of each invoice you generate. Beneath this you'll need to add your complete contact details, such as your mailing address, phone number and email address.
3. Client Details
Beneath your letterhead add the full contact details of the client.
This is where you'll list the client's company or business name, contact person's name and address details. If you have a phone number for their company you can add this too.
4. Invoice Date
Include an invoice date at the top of each invoice. The invoice date tells your client when the bill was made out and your terms and conditions will then tell your client what time frame they have from the invoice date in which to pay your bill.
5. Invoice Number
Use invoice numbers to identify every invoice you create for reference purposes. This will help with tracking any payments coming into your business and also help to identify any overdue payments.
6. Invoice Details
ist exactly what work you conducted and completed for your client and describe the task in some detail. This attention to detail protects you and your business from any discrepancies or issues that may arisen between you and your clients in regards to your costs and services provided.
7. Payment Currency
Virtual Assistants may have clients in different countries around the world. Some of those businesses for what you provide services will pay in a different currency to your own local currency.
If this is the case, specify in which currency your invoice is made out. You need to be certain you're not under- quoting your services by switching currencies without realizing it.
8. Payment Details
Your clients will not know how to pay you if you do not include these details on your invoice. As this is your business, you can select your preferred method of payment. You may choose to request payment via cheque or you may prefer the convenience of PayPal payment. The choice is yours.
9. Terms and Conditions
It is important you include a complete set of terms and conditions for payment on your invoice. You can list them either on the back of your invoice or as a separate page. These terms tell your client how long from the original invoice date they have until your invoice needs to be paid.
10. Format
Your virtual assistant work is transported out automatically, so most clients will be fine with you sending your invoice electronically. To protect your business against any future issues, create your invoice using a Word document and then convert it to a PDF file. Not only is a PDF file an easier format to print for their records, but it also protects you against any changes that might have been made without your authority.
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