Invoicing mistakes can cost your business time and money, not to mention harm your reputation with clients and customers. Sending invoices with mistakes, forgetting to send invoices, or forgetting to follow-up with invoices is damaging to both your bottom line and your credibility. In some cases, invoice mistakes can even have serious legal implications.
How can your business avoid common invoicing mistakes? Here are six ways to get started:
- Proofread. It may seem simply, but a surprising number of businesses simply don’t check for quality and accuracy before sending out their invoices. Having more than one person review your invoices, or taking a final look before mailing can save you a significant amount of time and trouble later.
- Itemize carefully. If you don’t clearly detail what goods and services you are charging for, you can become confused, overlook items, or list items twice. The more clearly you itemize your invoices, the less likely you are to make mistakes and the more likely your clients will clearly understand the charges.
- Keep your contacts updated. One of the most common invoicing mistakes is sending your invoice to the wrong person or to a bad address. Make sure you confirm who should receive your invoice as well as the address. Be aware that clients and customers could move or change their accounting system.
- Invoice regularly. Invoicing at regular intervals is the best way to keep track of what you have billed as well as when you were last paid. Many smaller businesses make the mistake of letting invoices build up, not invoicing for many months at a time, or invoicing sporadically. This also has serious impact on cash flow.
- Follow up regularly. Once your invoice is sent, your job is not over. It is not uncommon for many invoices to require reminders, second notices, and even follow-ups on the phone. Let your customers and clients understand you are serious about getting paid quickly and in full.
- Have a system. Many of the issues related to invoicing mistakes can be resolved simply by having a efficient, smart invoicing system that you follow closely and regularly. This system should include quality checks and timelines. This system should also assign clear responsibility to certain parties so that each step of the invoice process has an owner.
Towne Mailer Prints, Processes, and Mails Invoices For Less
At Towne Mailer, we specialize in printing and mailing invoices and take pride in helping our clients regularly send out great looking, error free invoices. Our quality assurance system helps ensure that your invoices are correct, while our detailed reports alert our clients to bad addresses and other issues. To learn more about our invoice printing services, please call us today or fill out our quick contact form to receive a free quote.