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There are a variety of reasons why businesses and self-employed individuals struggle to get their invoicing process right. This varies from neglecting to send invoices on time and failing to clarify payment terms to sending out invoices that look unprofessional and even failing to make payments as easy as possible for the customer.
While these simple inconsistencies first appear as nothing more than little aggravations that are part and parcel of running a business, when business owners fail to take the steps necessary to avoid these invoicing errors, they are in fact, inadvertently harming the progress and growth of their enterprise.
Interestingly, the solution is surprisingly straightforward. By utilising invoice templates from FreshBooks, business owners can streamline the entire invoicing process. Eradicating all those invoice errors and discrepancies that, up until now, have been holding their business back. Using pre-created and professional invoicing templates, the payment process is swift and automated, simplifying this complicated task for entrepreneurs, freelancers and business owners alike. Whether you’re struggling to design the invoices yourself and keep them looking professional or spending so much time fiddling with numbers and logos that you’re making errors. With these invoice templates, you can fully customise and send out accurate invoices within seconds.
So, why is invoicing accuracy so important to freelancers and entrepreneurs? Let’s take a closer look at its impact.
You Don’t Get Paid
One of the most obvious and undermining issues of invoice inaccuracies is the direct impact on your income. Whether your invoices are forgettable, look unprofessional or perhaps have wrong information on them, when your invoices are consistently missing the mark you’re less likely to get paid on time – or at all!
Payment delays can cause havoc within your business, leaving entrepreneurs struggling to move their business success forward and grow without enough earnings behind them. Targeting these invoice issues means you’ll be in a much stronger financial position and get paid on time, every time.
Frustrated Customers
Keeping your clients happy is a constant task. And while you may have met the exact expectations of your clients or even exceeded them, if your payment process is letting your business down, you’re inadvertently unravelling all your hard work.
When clients have issues with inaccurate invoices, or you’re chasing them for payments because you forgot to send out the right invoice in the first place, the relationships you’ve worked so hard to build can quickly become sour, jeopardising repeat business and those precious recommendations.
Negative Impact on Your Brand Image
You’re not just jumping from client to client, you’re trying to build a brand, and a good customer experience is crucial to developing a brand image that is positive and one that will entice others to work with you.
You may have great products and provide a thorough service, but if you fall at the last hurdle with your invoices, and payments are awkward, hard work or create issues, then your dreams of collaborations and a positive brand image will fall at the wayside.
Final Thoughts…
Invoicing inaccurately can cause all kinds of damage to your growing business. To avoid these negative outcomes, consider updating your payment processes as soon as possible.
