If you are a good architect, you probably write invoices for large sums of money all the time. You may have also faced some instances of miscalculated fees or late paying clients. By now, you probably understand the importance of staying on top of your invoicing. Here are a few tips to help you streamline your invoicing process:
Use technology to get the work done – Invoicing can be very time consuming, especially when you include elements such as sub-contractors, printing and other sundries. If your invoice system does not do everything you would like from it, it is time to move over to a cloud based system that will let you bill multiple jobs in just one invoice or allow you to bill your client according to the actual time or the quoted time.
The best solution might be a cloud based invoicing system like WorkflowMax.
Add descriptions to all the services – Architect invoices can be difficult to decipher, especially if the architect was hired in an on-going capacity to oversee construction. Adding descriptions to every item on the invoice can ease the confusion and also has the added bonus of making it look like you have done a lot of extra work.
Break the big jobs into progress payments – To help both your client and you manage the cash flow, it is extremely useful to bill the jobs as progress payments. This would entail taking a deposit at the beginning of the job and preparing monthly invoices for payment until the end of the job when you can ask for the balance payment. WorkflowMax makes it extremely easy for you to quickly prepare and send progress invoices. Keeping on top of your WIP (work in progress) is essential for cashflow in your business.
Make it easy for the client to pay – The easier it is for the client to pay the invoice, the higher your probability of getting paid correctly and promptly. Include accurate payment information (correct bank account details for direct deposit, a button that links to a payment gateway for a credit card and accurate mailing address).
You should also make it a point to include accurate terms and conditions to protect both you and your client. This includes the payment date, the mode of payment and the consequences of late payment. If you have a penalty clause for late payment, you can invoke it when the time comes.
WorkflowMax provides a complete cloud job management and invoicing solution for architecture firms, whether you have one staff member or many more. It makes it much easier for you to track the time against a job and use that or the quoted time to calculate your invoices.
For expert advice on setting up and integrating WorkflowMax with your Xero accounting software, contact Shellys Bookkeeping. We conveniently service the region from South Brisbane to Mt Gravatt, including the suburbs of Coorparoo, Camp Hill, Carindale, Morningside, Cannon Hill and Stones Corner. Want to know more about WorkflowMax, and if it will suit your business then please check our detailed overview of Workflow Max.
Location is not a barrier and we have clients using cloud systems such as Xero and WorkflowMax throughout Australia.
Convert quote to job instantly. No more double entry
No more timesheets! Record time against jobs directly in WFM and invoice time to client.
Customised reporting allows you to see lost time at a glance, set productivity targets for staff.
WorkflowMax provides a complete cloud job management and invoicing solution for architecture firms, whether you have one staff member or many more. It makes it much easier for you to track the time against a job and use that or the quoted time to calculate your invoices.
For expert advice on setting up and integrating WorkflowMax with your Xero accounting software, contact Shellys Bookkeeping. We conveniently service the region from South Brisbane to Mt Gravatt, including the suburbs of Coorparoo, Camp Hill, Carindale, Morningside, Cannon Hill and Stones Corner.
Want to know more about WorkflowMax, and if it will suit your business then check out our other blog.
Location is not a barrier and we have clients using cloud systems such as Xero and WorkflowMax throughout Australia.