24 October 2017
3 signs that you aren't approaching invoicing correctly
Do you have a lot of invoices to send out this month? Great! But entrepreneurs tend to see sending out invoices as a chore. If you recognise yourself in the following situations, then it's time to take a fresh approach to this admin task. We'll tell you how!
Most of your clients pay late
Late payments create a lot of stress. Does that sound familiar? You certainly aren't the only one: a lot of self-employed people have to deal with debtors. If you've noticed that the majority of your clients pay late, then that may be a sign that you're not keeping an eye on payment deadlines.
So keep track of who pays and when, then you can sound the alarm in good time. For example, send a reminder on the first day the payment becomes overdue. ING Invoice Solutions will also give you automatic notification of this. What's more, you can send a payment reminder at the click of a button! By monitoring your payments closely, you will be able to give your clients a gentle reminder to settle up in good time.
Another way to get your money faster: have your invoices pre-financed by ING Invoice Solutions! Thanks to this intelligent invoicing tool you can have certain amounts paid into your account quickly and efficiently. That way you will always have enough money available and you won't have to worry about multiple outstanding invoices.
You have absolutely no idea about your financial status
When you are self-employed you're always busy, which can mean that admin comes way down on the list of priorities. And unfortunately quotes and invoices aren't the only necessary evils. Monitoring your financial health is also vital.
Manage your income and outgoings manually? You can do it faster with our financial tools!
That's why you have to be able to get to grips with your income and expenditure quickly and efficiently. Are you still doing that manually with a pen, paper and calculator? Financial tools can make it much quicker! With an online invoicing programme you will get a fast, clear picture of your financial status. Imagine being able to see an overview of outstanding invoices, turnover per customer, graphs and the VAT you need to pay, without having to do any lengthy calculations.
Invoicing takes too much time
How do you write your invoices? In Word or another word-processing programme? Which you then send manually by e-mail or by post? In that case the invoicing process is probably taking too many hours a day! As a result, you may be tempted to put off the entire process. Which can mean you invoice for jobs even later and therefore also wait a long time to get your money.
These are all valuable minutes that you could rather spend running your business. An online invoicing tool will also prove its worth in that respect. In just a few clicks you can create a series of invoices, which you can immediately send out electronically to your customers. Handy!