“Freelancing is tough. It can be very difficult, in fact. It can wear people down, making them lose sight of what they used to love because they have to do everything else just to get by.”
When Masson Hip, an entrepreneur, wrote these lines in his book, The Unlimited Freelancer, every freelance writer resonated with his thoughts.
Freelancing might look easy from the outside as “own boss,” but a freelancer is also an “own accountant,” “own manager,” and everything. It is a full-time job that requires a lot of patience and smart work. One of the many tasks a freelancer has to look into is invoicing.
Cash regulation and invoicing are important aspects that every freelancer should master in order to achieve success and more clientele. Let us have a look at how you can simplify the task of invoicing.
1. Always have an agreement.
Whether it is a small project or a huge one, you always need to make sure that you have every detail written. Before making the agreement, make sure to discuss every tiniest detail. The agreement should include:
- Due Time
- Mode of Payment
- Third-Party Payment service provider
- Advance Payment
- Any penalties if you both the parties fail to deliver the requisites
2. Know your worth
Never undervalue yourself, no matter what the client or anyone tells you. You can charge less if you are a beginner. You can increase the rates gradually with more experience. Decide the intricacies like your charger, per-hour rates, flat rates, etc.
3. Keep a record of your work.
Make sure to maintain an excel sheet where you keep a record of all your files and work done. After the work is done, convert this Excel to PDF and keep it in your documents.
4. Never delay invoices.
As soon as the project is complete, send the invoice so as to avoid any issues in delayed pay.
5. Send a detailed invoice.
The invoice should have all the details like invoice number, date, name of the parties, payment details, the amount paid and due, contact details, etc. You can also send the converted XLSX to PDF to the client along with the invoice to maintain clarity on the project.
We would agree that we are all in it for money. Invoicing is a crucial part of any business or job; you need to be aware of where your money is coming from and where it is going. Make sure to follow these points for hassle-free invoicing.