Fortunately, with the help of invoicing software, you can easily write up and send your bill right from the site as soon as the job is done. The result is greater efficiency and an increased likelihood that you will get paid in full, on time, and without extra work on your part.
Choose invoicing software and apps
The provider of your merchant account for contractors should be well-acquainted with invoice software and apps. It is this technology that will give you everything you need to take control of your billing. Just be sure to choose wisely, ensuring that you have access to important features that will make your life easier.
Because you are on the go, the software must have a robust app for smartphones. It should also include estimate-to-invoice conversion as well as customizable templates that allow you to add details like your logo and company information. The app should let you easily add lines for materials, services, labor, and any other itemized categories for which you are charging.
The software also needs to seamlessly integrate with your payment services provider to allow you to accept funds from various sources. These should include credit and debit cards, digital wallets, bank transfers, and recurring billing options. When this is done correctly, you should be able to send a payment link or complete a transaction then and there.
Furthermore, the software should contain automated reminder capabilities for overdue invoices. If you work in areas with unreliable internet, offline capabilities are essential. They allow you to record and store invoice details until you're back online and can sync your data. Also, be sure your software automatically syncs data across all devices and with your accounting software.
Additionally, it is vital that your system can store relevant data about your customers, including contact details and job notes. This gives you ready access to important specifics from anywhere.
Finally, the software should come equipped with a robust set of reporting features. These will enable you to take a deep dive into the health of your business by tracking payment trends, invoice statuses, and profits and losses.
Creating and sending invoices on-site
At first, the idea of creating and sending an invoice on-site might seem daunting. However, you will soon realize that the process is easy and intuitive.
Start by launching your smartphone app. Then either choose an existing client or opt to create a new one. This will involve entering details like name, address, and contact information.
Next, create a new invoice. You might even be able to instantly convert your estimate into a bill with one tap. Then add details about the job for which you are billing. These should include invoice number and date, services performed, materials used, labor hours/rates, and a brief description of the work you did. Finally, use the app to calculate subtotals, taxes, and the grand total.
Now you will add those all-important payment terms. Common ones are net 30 and payment due upon receipt. Furthermore, be specific about the different ways your client can pay: online payment link, credit card, check, etc. Also, include any warranty information or disclaimers that your customer needs to know about.
After a careful review, your final job is to send the invoice. Most commonly, this is done directly through the app via email. Other options involve sending the invoice with payment links via text or SMS or mailing a hard copy. If your app integrates with payment processing, you can accept funds on the spot. Just swipe the card into your attached reader, tap it or wave it near your mobile device, or manually enter card details into your virtual terminal.
On-site invoicing best practices
You will increase your chances of getting paid quickly and establishing a positive relationship with your customers if you follow some basic best practices. Have your templates and pricing set up before you arrive at the job site. Thoroughly discuss the job and the payment terms before beginning the work. If you previously sent an estimate, be sure that the customer has given their approval before converting it into an invoice.
The sooner you provide an invoice and offer payment options, the more quickly you will get paid. Whenever possible, give clients ways to resolve their bills immediately. Through it all, maintain a professional image by providing a clear, branded invoice. To protect yourself and your data, see to it that your software has reliable cloud back-up for invoices and client information.
Today’s technology speeds up and streamlines the invoicing process, making it more likely that you can receive your money in a timely fashion. That gives you faster access to your cash, enabling you to channel it toward enhancing your business. With the enhanced ease and accuracy combined with a better payment experience for your customer, on-site invoicing is a win-win for your contracting business.
North is a leading financial technology company that builds innovative, frictionless end-to-end payment solutions designed to simplify and grow businesses of all sizes. From the front door, to the back office, the developer world, and partnerships that expand the payments landscape, North offers proactive, comprehensive merchant services, in-house processing, and more.
