You just finished up a freelance project, or perhaps you are an up-and-coming entrepreneur, and the time comes for.....creating an invoice. Gasp!What is an invoice? Why do YOU have to do an invoice? What goes on an invoice? What does it look like? The following guidelines are basics about invoices, in addition to some great services which will make your life easier, and get you on the path to getting paid with services rendered!
What is an Invoice?
According to unisys.com, an invoice is "A bill issued by one who has provided products and/or services to a customer."
Basically, an invoice is an account of goods or services provided/performed, including the (method) of payment that is due for services. It is a document which outlines the terms of sale/transaction/duty provided. It should include the details behind the services, in addition the expenses for the service (itemized).
What Should Go On the Invoice
This is a basic rundown of what should be on the invoice:
YOU: business/customer with whom you completed a service for (usually up on the top left), including address and phone number.
CLIENT/BUSINESS with whom you have completed the service for, including name, address, phone number, email, etc. (think top of a job cover letter for this part) and ATTENTION: (whoever it may be).
The INVOICE NUMBER (usually set on the right from the address info, and the date of the invoice (which may be different from the day in which you completed the work; just make a note of it in the invoice)
DETAILS: Including the amount that is owed, whether it be hourly/per-word/per unit-piece, etc. and the rate (what the money is owed)
A DESCRIPTION of what the job entails, including a brief outline of the duty performed. You can include dates (if applicable).
The TERMS OF PAYMENT (which includes when you may receive the payment after the invoice has been received).
If it is a product in which you are creating an invoice, then you must include the of items/products subject to tax.
And lastly, BALANCE DUE, usually set at the bottom.