Top Freelancer Invoicing Tips: Freelance work requires steadfast dedication and decent business acumen. The behind-the-scenes work necessitates administrative and secretarial skill.
The most important task dictates how freelancers handle invoicing—how they get paid.
A recent PayPal study revealed 58% of freelancers in SE Asia endured not getting paid for a job. That’s an alarming number since the same percentage of American freelancers have international clients. What does that say about freelancing as a whole?
The lack of some form of managerial acuity encourages some clients to see your work as charity. There’s a lack of respect for the seriousness of it when your paperwork’s not in order.
5 Freelancer Invoicing Tips to Implement in 2019
If you’re new to the freelance world and want to protect your hard-earned money, read on. Learn these five tips that’ll help you with your freelancer invoicing.
1. Set Ground Rules
Professional clientele appreciates knowing where you stand up front. Layout pricing, billing, and job specifications right away to clients.
Make clients aware of clauses or notices that might affect pricing and billing. If policy changes after the fact, people have a right to refuse payment, and your service looks dishonest in the end.
The rapport you create with clients is imperative to the success of your business. So be proactive. Set grounds rules with new clientele. And always notify existing clients of changes to policy
2. Invest and Use Up-to-date Software for Freelancer Invoicing
Advancement in technology uncomplicates the billing process. Veer away from the $2.99 receipt books.
The right software allows you to invoice clients, print statements, and store records for future use. Invest in online software. Most come with cloud storage capabilities. That helps save space in your computer and file cabinet.
Also, reliable software teaches you how to pay yourself. You can practice by printing mock paystubs to help yourself remain organized. Click here to find out more about that.
Test a few. Decide on software that satisfies all the needs of your freelance business.
3. Don’t Make Exceptions
Offer people an inch and they’ll take a yard. That’s not only true in life, it’s also bible for business.
Unless you’re running a special for your entire clientele base, don’t play favorites with clients. Once you start bending the rules and offering discounts, clients expect it all the time.
That kind of activity can leave you with pennies sitting in your account. Never undercharge. And don’t offer specials to attract new clients.
Stay competitive in the freelance market. Keep your ear to the ground, and don’t alter your pricing unless it makes you more money on the backend.
4. Ask for What You’re Worth
If you offer pricing that’s lower than what’s in the market, expect to attract cheap clients.
Ask for what you’re worth and stick to your guns.
Budget-bargaining clientele will nickel and dime you while assigning you the worst jobs. Some disappear without payment after the job’s complete. Whether you’re green or have years of freelancing under your belt, don’t undercut yourself.
Ask for what’s marketable or more if you’re worth it.
5. Communicate Pay Methods Right Away
It’s unprofessional to have your clients guess how they should pay you. That’s a great way to get shortchanged.
Include a list of payment methods in your contracts. Be ready to discuss these options when clients ask. Always offer the quickest way for you to get paid. That’s how you keep the lights on.
In addition to traditional payment methods, sign up for a service like PayPal. It’s secure, fast, and convenient. If clients prefer mobile options, consider Venmo, Google Wallet, or Facebook Messenger.
Make sure these services are compatible with your invoicing software for accounting purposes.
Invoice the Right Way
It’s your responsibility as a freelancer to make sure you get paid. Proper accounting helps you keep track of your freelancer invoicing.
Set your price, invest in the right software, and get all you’re worth. Organized freelance helps you stay paid and keep a strong clientele base. These were some of the best freelancer invoicing tips to get paid on time. Freelancing market is quite big and as per the 2017 report, it is $1.4 trillion in America itself.
Read more of our business articles to get insight into how to run your business with efficiency.