Unfortunately, more than 70% of freelancers receive late payments. Firms take an average of 16 days to pay invoices, but only 4% report to clear invoices on time. This has been the main contributor to strained client-freelancer relationships.
The primary reason for late payments is late and inaccurate invoicing. This issue can be eliminated by integrating newer technologies such as automated invoicing tools. Besides saving time, here are more reasons why, as a freelancer, it is critical to have a good invoicing tool from a reputable invoice platform.
Table of Contents
Get More Organized With Invoicing Tool
Invoicing tools allow freelancers to track which invoices have been sent out, paid for, and outstanding. This makes it easier to keep an eye on the invoices while eliminating the chances of making errors. Also, invoicing software helps you to be more organized and to maintain work ethics.
By organizing your invoices, the invoicing software makes the invoices easy to access. Moreover, you can organize them according to different companies.
With just a few clicks, you can access any data on the web without overloading your hard drives. This is unlike traditional invoicing, which demands lots of paperwork. You no longer have to deal with stacks of papers when creating an invoice using invoice generator for freelance work, a scene that many freelancers can attest to.
Customize Invoices
As a freelancer, the chances are that you work with tons of clients with varying terms and conditions. Therefore, you should cater to their invoicing demands individually.
The conventional invoicing methods require you to pre-print your invoice and fill in the transaction details. This makes it hard for you to personalize any changes unless you cross them out on the printed paper, which sends you off as unprofessional.
Canva invoicing software, on the other hand, allows you to customize invoices for different clients. You can amend every invoice, add or remove text and data that does not apply.
The best tools feature easy-to-use templates, so you don’t have to be an expert to create well-organized invoices. You can also check a freelance invoice sample online for insights into how professional invoices are crafted.
Get Paid Fast
As earlier mentioned, one of the reasons for late freelancer payments is late invoicing. The faster you send out invoices, the higher the client’s chances to make payment on time.
You want to bill your client as soon as you deliver services. This will give the client more time to review the invoice and make payment within 14 days.
This is nearly impossible with the traditional invoicing system, where you have to mail invoices to clients. If you work with clients from different geographical areas, the invoices will not get to them right away, thus delayed payment.
Invoicing tool speeds up the process of creating invoices for freelance work. Furthermore, it ensures that clients receive the invoices instantly.
It takes seconds for invoices to get to the recipient, regardless of their geographical location. Such fast transactions will prompt the clients to make payments even quicker.
Set Reminders
Invoices are friendly reminders for payment. But freelancers can attest to how hard it is to make clients pay. And the last thing you want as a freelancer is to overburden yourself with the task of following up with clients for payment.
You have lots of tasks to deliver and meet deadlines. You cannot afford to spend more time checking which clients have made payments and those who haven’t.
Save yourself from the trouble by investing in a reliable invoicing tool. The software comes with a time-saving feature that allows you to set reminders for overdue payments.
This helps to maintain efficiency and boost your productivity. You no longer have to remember deadlines and which invoices need to be sent. You can focus on other projects with peace of mind knowing that you can send another invoice for the reminder if the client forgets to pay.
Helps With Record Keeping
Invoice freelancer aims to ease the client’s burden. The invoice comes in handy when filing tax forms. Your client has to account for all expenses and can use your invoice to prove that, indeed, they made the payments. The IRS advises business owners to use recordkeeping systems for expenses.
Suppose the client is being audited. They can present your invoices to prove they made payment for services offered. It also comes through for you. The invoice provides documents to prove the information you entered when filing taxes every year.
Access Invoice From Anywhere
The invoice software allows you to access your invoices globally, which is critical for freelancers. Among the benefits of being a freelancer is freedom in your job. You can work remotely from the comfort of your home, hotel when holidaying or from a café as you catch up with a friend.
A conventional paper-based invoicing system limits you from sending invoices, especially when traveling. You cannot carry your clients’ data around different countries. With this, you may have to wait until you get back home to send the invoice, facilitating delays.
Nonetheless, invoicing software allows you to store data online. You can quickly access tons of information with just a few clicks and send the invoices to clients when on the go.
Invoicing Tool Promotes Accuracy
Regardless of how diligent you are, human errors are inevitable. The situation gets worse when you are overloaded or tired after completing a project.
The traditional invoicing system involves manual entries that create room for undercharging or overcharging clients. This could strain your relationship with clients and paint you as unprofessional.
Avoid such instances by using automated tools to create a freelance writer invoice. The software eliminates chances of mistakes through innovative calculation features that can highlight anomalous data.
Boost Productivity and Ensure Timely Payments with Invoicing Tool
From the benefits above, it is evident that investing in an invoicing tool for freelancers is the secret to saving time and receiving payments on time. If you are skeptical about the idea, perhaps because you don’t know how to use the software, check out online tutorials.
You can also check online resources for a freelance invoice example to understand what is expected of you. Most importantly, take your time to choose a reliable invoice to ease your work.
Keep browsing through our articles for more helpful guides and tips.
About Carson Derrow
