A few blogs ago, the team at Select Factoring mentioned how to create your own invoice and what should be included on the actual paper work. Today we’re looking at invoice templates available online that are either free to use or you can purchase.
Some office systems such as Microsoft, sometimes offer an invoice template. Otherwise simply googling Free invoice templates will bring up hundreds of results. You may need something specific, or an invoice in a certain style, not a problem, sites such as zoohoo and Microsoft offer an array of invoices for specific industries.
Going back to templates, despite there being thousands available online you can request that a design company produce one specifically for your company that will include your details and company logo.
Invoices allow companies to keep track of payments owed to them by clients. Each invoice is numbered and then send directly to the client. They generally have 30 days to pay the invoice, but some clients may have different payments terms, which could be up to 90 days.
Invoices are not only just used to document payment, invoices can also be used in Invoices financing, where the amount of money owed to companies by clients can be gained way ahead of the agreed payment date. In fact companies can choose whether to use a few or multiple invoices to gain capital, and sometimes within 24 hours.
Factoring Lenders then take on the invoices and chase clients for payment on behalf of the companies.
See, invoices can be incredible versatile, and not many people would realise they are just for gaining payment from a client.
Invoices are an incredibly important piece of paper and should be kept to document all payments whether physically or electronically. No only does this help if you have to draw up an invoice from a certain month, your accountant will find it easier to calculate your tax.