Invoicing can, at times, seem like an arduous task to carry out, particularly for those in the recruitment industry who are dealing with countless invoicing requirements on a weekly basis for candidate placements.
Invoicing effectively is an essential aspect to every business, due to the fact that it is essential for your business’ cash flow. One of the most common things that delays payment is an incorrect or missing invoice, and therefore we have compiled our top four tips for effective invoicing, to ensure that your recruitment business’ risk of late or non-payment is significantly reduced.
It is vital that upon completion, or at agreed intervals, that your invoices are sent to a client straight away. Delays when sending invoices will ultimately mean you are waiting longer to be paid for work carried out.
Collect the correct information
At the outset of any contract with a client, it is essential that you collect the right information that will be used on an invoice. This includes full legal business entity, agreed payment terms, address, as well as the name and contact details of who the invoice should be sent to. It is very easy for a client to say that they require an invoice with the correct information before they will pay, so ensure your business doesn’t fall at the first hurdle.
Include payment details
Whilst it may seem like an obvious point to make, we have come across many invoices in our time in business that have failed to provide adequate information for a client on how to pay their invoice. This will include the types of payment your business does and does not accept, for example, many businesses no longer accept cheques.
Bring in the experts
Finding the time and expertise to send invoices can be tricky, and therefore if your business is struggling to keep up with invoicing requirements then it may be time to outsource this facility.
Here at Zodeq, our Zodeq 360 service provides recruiters with a number of comprehensive back office support services, including invoicing. Speak to our team today to find out how we can support your business.