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Make An Effective Invoice

Make An Effective Invoice

In online shopping, sellers have their payment and tax including charges policies. When a customer buys any product or service through e-marketing over the internet the corresponding seller dispatches the ordered item to the buyer along with the payment details. The payment details with the corresponding bill are termed as the invoice of the bought product or service.

So here are few tips to improve invoice for effective business:

  1. Appropriate Information: Invoice should deliver all important basic and precise information of the item or service purchased.

  1. Name along with the description of service or product.

  2. Order tracking number

  3. Total amount

  4. Summary of the total payment

  5. Due date

  6. Possible Payment Modes

  7. Details of discounts, if applicable

  8. Outstanding payment details

  9. Delivery charges if any

  10. Late payment charges

  11. Details of the applicable GST charges

  12. Contact number for any queries

  1. Precise Record Details: Keeping records from the initial process right from the ordering of any service or product, confirming the order, payment mode, tracking status, delivery information will always add a compatibility between buyer and seller.

  2. Immediate Invoice Dispatching: Every customer becomes eager to receive their service or product as soon as they order it. Practically it is not possible to deliver the product on the same day. Therefore invoice somehow takes care of the excitement of the buyer as it not only contains the information about bills and amount, it also includes the delivery information of the product. Thus an immediate invoice should be generated and delivered to the customer via e-mail or message.

  3. Clarifying Policies: Needn’t to say that applicable terms and conditions, or business policies should be known to both buyer and seller. Else, it may lead to unnecessary confusion and disputes. An invoice should contain all the terms and policies and it should be intuitive and easy to understand for the customers. An invoice should clearly communicate businesses policies regarding late payments, discounts etc.

  4. Timely Reminders:  Reminders are always valuable for both business and customers. At the business end it helps in collecting payments and providing proper services to customers, while at the customer end, this reminder would help to avail the payment on time and also managing the person to receive the service at the location.

  5. Proper Billing Timetable: A consistent and proper billing schedule should be prepared to manage proper dealing between business and customers. The invoice should be circulated between dealer and customer on regular basis, monthly or weekly, so that customer would be aware of the delivery and be prepared with their chosen payment mode.

  6. Multiple Payment Options: An effective invoice should clearly contain the payment mode which customer has chosen so that any issue at the time of delivery of the product can be avoided.

  7. Charge Interest for Late Payments: An effective invoice should cover every aspect related to payment. This late payment charges should also be included in an invoice to be more effective. This would help in legal rectification in case any delayed payment issue.

  8. Invoice Tracking: By tracking the status of service to be delivered, the customer remains updated with their excitement of when, where and how would they obtain the delivery of the product or service.

  9. Simple Format: A simple and slick payment details would always attract customer’s attention. This invoice should follow simple and clear documentation. Also, the invoicing document should always follow the same pattern for every order which makes the customer more acquainted with the corresponding organization.

  10. Fruitful utilization of blank space: An effective business should not miss any chance of advertising their products or services in every resource. So invoice document is the best option. The blank spaces of the invoice can be better utilized by promoting and updating new product or services.

  11. Assess Outsourcing: For efficient documentation of an invoice,  data entry outsourcing services will be an intelligent choice. It not only improves the invoice by skilled data entry service providers but also improves employer's capacity and productivity in achieving important goals of the organization.

  12. Gratitude: A good business runs on the good customers. Don’t forget that customers are the king of any business. Thus always add a gratitude message towards the respectful customers, like “Thank you for providing an opportunity to serve you”, “Hope to visit us again”.

Thus it is essential to take care while generating an invoice to the customer as it is the amount he/she is paying for desired item or service. Thus Account Receivable (AR) Management team of any organization plays an important role in processing the timely invoice for payments and delivery of service or product.

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