As a small company or freelancer, managing your invoices effectively can be a tricky business. There’s a lot you have to juggle and depending on how many clients you have, it might even seem like you’re tackling another full-time job on top of running your business.

Person writing a document

Invoices = money and without money, you can’t run a business. With so many entrepreneurs relying on a healthy flow of cash coming in, badly managed invoices can be a real setback. This guide looks at some of the simplest ways you can manage your invoices, ensuring you get paid on time, every time.

As a small company or freelancer, managing your invoices effectively can be a tricky business. There’s a lot you have to juggle and depending on how many clients you have, it might even seem like you’re tackling another full-time job on top of running your business.

Invoices = money and without money, you can’t run a business. With so many entrepreneurs relying on a healthy flow of cash coming in, badly managed invoices can be a real setback. This guide looks at some of the simplest ways you can manage your invoices, ensuring you get paid on time, every time.

calendar with ticks

1. Know Your Dates

If you want to learn how to manage invoices effectively, you have to go back to basics. Whether it’s the invoices you’re sending out or the ones you are receiving, knowing when they need to be dealt with is seriously important.

When paying clients, you can set yourself a specific day to send and file invoices, making it simple to keep on top of the paperwork. However, if you’re waiting to receive invoices it’s often a different matter.

You can’t ask all of your clients to pay you on the same day, but you can make things easier by keeping track of the dates when you should be receiving your payments.

Piggy bank

2. Set Up Payment Reminders

So you understand the importance of knowing your dates, that’s great, but with so much going on, you need a way to keep track to ensure a constant cash flow.

Using online invoicing software, you can set up auto reminders to alert you when payments are late, as well as reminders to alert clients that their invoices are due. It’s an easy and fuss free way of keeping up with late payers, and ensures you receive the money you’re owed.

Computer displaying invoice report

3. Take Advantage Of Overviews

Juggling invoicing for multiple clients can get messy and without trawling through heaps of paperwork, it’s impossible to quickly look back over months of payments if an issue arises.

With online invoicing software, you can take advantage of client overviews which offer a number of benefits if you want to manage invoices more effectively.

Report with green tick

4. Create Quick And Simple Invoices

Another issue that can slow down invoice management is the hassle of sending out different invoices to different clients. Many clients may ask you for specific information but that doesn’t mean you have to spend time crafting perfectly unique documents.

To manage invoices more effectively, use a professional online template that allows you to quickly chop, change and save invoices that are client specific. All the hard work is done for you and is stored online, ready for you to access at any time.

 

These include:

  • Live stats pages
  • Complete client invoice overviews
  • Profit and loss reports
  • Automatic VAT calculation

An easy to understand overview provides you with manageable and accurate data, helping you manage your invoices like a pro.