Sending invoices can be an exciting time because it means payday is nearly here. Yet and still, if you’re a freelancer, you know that doing admin work like sending invoices means more unpaid time on your end.
Depending on how many clients you have and what your workload is like, you could spend a significant amount of time sending invoices each month. Here’s how you can cut that time in half and possibly even receive payments quicker.
Use Invoicing Software
I know you’re probably thinking, well duh. Invoicing software is a MUST if you’re going to run a service-based business whether it’s full time or part-time. Taxes can be a massive activity when you’re self-employed and you want to organize and keep record of all the money you have coming in.
When I first started freelancing, I didn’t know about invoicing software and I would use free invoice generator templates online each time I needed to get paid from a client. It took a ton of time so I soon upgraded to sending PayPal invoices but when the fees got too high, I switched to an invoicing software and never looked back.
Your invoicing software can help you securely track hours, add up taxes, apply discounts, accept tips, and charge fees with just the touch of a button saving you so much time and effort.
Set Up Custom Templates
Once you start using invoicing software, you can create custom templates for your business and even create recurring invoices if you have a long-term contract with a client.
That way, you won’t have to continually set up invoices and you can just duplicate ready-made templates to send out out either quickly. Even if you have 10 clients and 5 of which you can create recurring invoices for, it will save you some time in the long run.
Fill Out Invoices Weekly
Another thing you can do to cut down on invoicing time is to spend 5 minutes per week updating your invoices and saving them as drafts until you send them. I usually send invoices monthly and it can be a pain to sort through projects I turned in and hours I worked and load everything onto multiple invoices.
Just spending a few minutes at the end of each week to update invoices, can save you from spending an hour or longer sorting through emails and such in hope of sending out accurate invoices.
Automate Late Payment Reminders
No one likes getting paid late, but if freelance, this may happen from time to time. If you hate having to track down missing or late payments, you’ll want to schedule automatic reminders to be sent to clients who miss their payment due date.
Again, invoicing software can help you do this. When I was sending invoices via online templates, I’d waste a ton of time sending follow-ups and trying to track the payments. With most softwares, you can see when the client opened your invoice and the status of the payment. Plus, you can automatically resend invoices that haven’t been paid by a certain date or send follow-ups.
Whether you enjoy invoicing or would rather simplify the process as much as possible, there are plenty of ways to cut down your time spent sending invoices and they all involve having the right tools at your fingertips.
Invoicing software does often come with a fee but as long as you choose an affordable option, it can be well worth the investment.