If you are a partner in a large business or the owner of a small business, you’ll feel collecting bill is harder than pulling teeth. Most of the time you are depending on the client’s agreement to pay you. In this article, a few methods will be described to improve your billing process.
- Terms Establishment
Always make your terms easier to follow and must be crystal-clear enough to understand. Clients need to know your terms in a few words within a short time. Your terms must include the deadline of the billing as well as the penalty if they miss the deadline. You should not forget a single clause of your terms.
- Error Reducing
Invoicing error is a common thing for humans. The most common invoicing errors executed by humans are
- Ignorance for unpaid invoices
- Forgetting to send invoices
- Invoicing the wrong departments
- Failing to clarify each charge on the invoice
So cloud billing is an affordable solution for the business owners. Because it will reduce the human errors as much as possible. Cloud billing will also manage the real time balances in various business models like B2C, B2B, B2B2C.
When the bill will be paid, we’ll enjoy consistency. We need a certain level of predictability in billing. As you know the exact date of invoicing, you can arrange your bill before that day. This will remove headaches both for the payee and payer. So consistency will exist in your system.
You have to maintain a good timing to invoice your clients for receiving payments. You can send invoices weekly or bi-weekly. You have to find out the timing when people will get a large amount of time for sending payments. Always send invoices on the 1st day of a month since people always start their month on that day with the full liabilities.
- Proper Tracking
A numbering system is mandatory for tracking your invoices properly. A “paper” will be maintained for the purpose of audit. Never choose the billing software which won’t provide the tracking system.
- Automate Everything
Automation is a must for making your billing process easier. It saves time for both parties. To make a business successful, the following issues should be considered
- Recurring schedules for billing
- Charging recurring fees automatically
- Reminders automation
- Billable time tracking
It’s a very simple matter for a customer to miss payment dates. Busy schedules are a common part of our real life. So payments will be missed sometimes. It’s mandatory to send reminders to the clients before the due dates as well as after the due dates to let them know that they have just missed the payment date. Billing software will do all of these things for you to save your valuable time.
Invoicing is a vital part of your business. So it should not be painful or complicated to use. From this view billing software will make your invoicing system easier and time saving. Billing software in Bangladesh has become popular significantly. Restaurants, show rooms, departmental stores and other business organisations are using billing software to make the invoicing system user friendly and faster than before.