With tons of online invoice generators app in the market, small businesses are often in a dilemma about whether to use a custom invoicing tool or not. Well, it is a great idea to use them, but at the same time, it is equally important to avoid some mistakes to make the best use of these solutions.
1. Delaying Invoices
Making custom invoices online is super easy. But the process can take a backseat to your task list. In fact, you might get busy and forget to send them at times. It is natural in these cases to receive late payments. Thus, make sure you put your custom invoice maker to the best use as it sends out automated payment reminders and can help you get paid on time without any extra hassles.
2. Not Understanding The Client’s Payment Cycle
Sending customizable invoices but not understanding your client’s payment cycle is a big disaster. If you can make it easier for clients to pay more, the chances of getting paid on time.
Take the client’s payment cycle into consideration and if you have a different set of expectations express them beforehand.
This will let you send recurring invoices and have your financials sorted.
3. Not Following Up
Yes, your schedule can get messed up, and you might forget to follow up on invoices. Luckily, a customizable invoice solution can help you send reminders on autopilot. It will let you track invoices as they are paid and even run reports on the invoices that are outstanding.
Besides, a custom invoice maker will help you set up a process that will send messages to your client if they miss a payment. This will further expedite the process.
4. Not Offering Credit Card Payment Options
While custom invoicing can help you end your invoicing saga with Excel and Word, it is equally important to provide your clients with credit card payment options. While you can always link to available payment options in your invoice, you will need to explain this information clearly.
Custom invoice creators ensure all options are mentioned on your invoice. Once you have linked your accounts, you can set your template and make invoices using the same to save time.
5. Complicated Currency Conversion
Some custom-printed invoices get delayed due to wrong currency conversions. In addition, if you deal with cross-border clients frequently, you are probably wasting a lot of your time reconciling your accounts.
This will not only lead to a lot of mistakes, but you might end up losing clients also because of your folly. Fortunately, custom invoicing solutions can help you with the following things:
- Real-time currency conversions
- Ability to handle multiple foreign currencies
- Reconcile foreign bank accounts with ease
6. Not Adding Late Payment Section to Your Invoices
Custom invoicing solutions let small business owners charge late fees, but they don’t as they are afraid of losing clients. But this is not a good practice to follow in the long run.
Whenever you send your invoices, it is 90% possible that you have provided services, and you deserve to get paid on time. It is common to charge late fees, but you need to clear these with your clients beforehand.
Keep your payment terms simple and mention how much late fees you will be charging.
With custom invoices online, you can create specific terms for your business, have them written on your invoice and send them with every invoice.
7. Using Invoice Templates
Many businesses use invoice templates and refrain from using custom invoicing. But there are many reasons you need to use a customized template to make the process smoother.
- Customize your terms of payments
- Let’s you itemize your invoice items
- Boost your company’s branding
- Offer multiple payment options
- Give out short messages to clients
- Offer discounts and incentives on future purchases.
Wrapping Up
A custom invoice creator is a great thing if you use it without making these mistakes. Custom printed invoices can help you secure better business opportunities and build a solid brand reputation in the market. So, leverage the power of custom invoicing and give your business that solid edge over competitors. If you are still looking for business invoicing solutions, let us help you find one!
