How to Take the Stress Out of Billing Your Clients

With the myriad of payment processing options out there today, it’s easier than ever to find a fast, hassle-free solution to invoice your clients online. There are so many potential solutions, in fact, that sifting through them to find your best option can be a tricky game to play.

 

We’ve compiled the essential steps you need to take to invoice your clients along with factors you should take into account to choose the right option for you.

1. Make sure you have the important details on your invoice

There are several key elements that must be present on any invoice you send to your clients. A proper invoice acts as a formal agreement and protects you in case of any accounting errors or legal disputes.

 

Ensure you have the following clearly stated:

●  A unique invoice number

●  Your business’ name and contact information

●  Your client’s name and contact information

●  Descriptions of the product or service being purchased (in the case of multiple products or services, list the quantity and price of each)

●  Sent date (the day the client received the invoice)

●  Due date (the day the payment is due)

●  Subtotal

●  Details regarding your payment policy

 

Whether you have a business accountant handling your books or someone managing everything in-house, all of the above elements should be included, so they can keep things organized. It’s well worth it to double-check that you have everything clearly listed on the invoice, not only for accounting purposes, but also analytics and in case of disagreements.

 

2. Choose a thorough payment processing service

Choosing the right online payment processing service to use for your clients is one of the largest battles you’ll face when it comes time to invoice.

 

To send the right message to your clients, you need your online service to be flexible, easy-to-use, and accessible. The last thing you want is a client struggling with your service so much that they don’t want to do business with you again.

 

Make sure you look for a service that features:

●   Multiple methods of payment acceptance, such as major credit cards, debit cards, eChecks, and ACH payments

●   Next-day merchant funding

●  Thorough underwriting capabilities

●  User-friendly interface

●  Integration with major business accounting software like Quickbooks to make your bookkeeping straightforward

●  The ability to set up both one-time and recurring payments

●  Fraud prevention tools like address verification or card verification

 

3. Consider your individual payment processing needs

Not every business has the same processing needs. If you know exactly what you do and don’t need to operate smoothly, you’ll be able to better hone in on the right service.

 

If you frequently do business in another country, you’ll want to consider supporting additional payment processing software. Sending money internationally can be tricky and come with exorbitant fees, and you and your client will want to avoid costly wire transfers at all costs if you can.

 

If you have a business in an industry that’s considered high-risk, such as CBD or debt collection, you may have struggled to get loans or payment processing solutions that don’t add an excessive surcharge. In this case, you’ll need to find a company specializing in global payment processing for high-risk industries that cuts out the middleman and helps you avoid exorbitant fees.

 

By studying the ins and outs of modern payment processing capabilities, you’ll be able to give your clients an invoice that’s simple and stress-free. Sending and receiving payment is the backbone of your business, and you can’t afford for it to go wrong. Do thorough research on any payment processor you consider and ensure you’re getting a service that’s both cost-effective and efficient.

About the author

Aaron Smith is an LA-based content strategist, and consultant in support of STEM firms and medical practices. He covers new industry developments and helps companies connect with clients. In his free time, Aaron enjoys swimming, swing dancing, and sci-fi novels.

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