The proper invoice structure

It may be possible to make several modifications to the format of an invoice to reduce the time required to receive payments from customers, as well as to reduce the number of customer payment errors. Consider implementing the following adjustments:

  • Credit card contact information. If customers want to pay with a credit card, include a telephone number to call to pay by this means.
  • Early payment discount. State the exact amount of the early payment discount and the exact date by which the customer must pay in order to qualify for the discount.
  • General contact information. If customers have a question about the invoice, there should be a contact information block that states the telephone number and e-mail address they should contact.
  • Payment due date. Rather than entering payment terms on the invoice (such as β€œnet 30”), state the exact date on which payment is due. This should be stated prominently.

The goal in creating an invoice format is to present the minimum amount of information to the customer in order to prevent confusion, while presenting the required information as clearly as possible.

Related Courses

Bookkeeping Guidebook 
New Controller Guidebook