Creating Contractor Invoices
Creating Contractor Invoices that are clear and concise will ensure that you receive payment quickly and without delay from your clients. By providing the right amount of information on Contractor Invoices you will essentially negate any queries that your clients may have. The following elements must be included in the right format to ensure a clear visual summary of work rendered on a project.
YOUR CONTRACTOR DETAILS
Firstly, your contractor details need to be visible at the top of your invoice. The invoice must include your name, address and phone number. To ensure that your client instantly knows that the invoice is from you, it should be unique. This can best be done by creating a unique template for all invoices. The design of the invoice could also include a unique font, logo or icon that should also be utilized on all your Contractor stationery including your business cards.
Client details and all work completed for the project must be detailed on the invoice. An itemised list of all work completed is best utilized to ensure that your client is aware of all costs involved. Your client will clearly note all the work that you have completed leaving no doubt what they are paying for. To provide further clarity you should include order numbers, project references stating exact descriptions of work completed.
The costings of projects completed must be detailed next to each itemised description of work completed. It is best to include the period of the project, the project’s hourly rate and number of hours completed. A subtotal and total must be visible at the end of the costings with a grand total detailing the whole amount payable to you.
TERMS OF PAYMENT
Your payment terms must be stated on your invoice to ensure that the client is aware when it needs to be paid. These terms of payment should have been discussed before the commencement of the project. When the invoice is presented your client should be aware of your terms and should pay the full amount in on time. If a client does not pay the invoice within 30 days’ interest may be charged. Ensure that the client is aware of these terms beforehand to avoid any confrontation.
DETAILS OF PAYMENT
All your bank details stating your bank name, account number and sort code must be included on your invoice. This will facilitate the paying of the invoice as the client has the payment details to hand.