Working as a freelancer or owning your own small business can be liberating. There are a number of advantages in “independence-based” employment, such as being your own boss and setting your own rates. But there are downsides as well, and collecting payments can often be one of them.
Payment delays for freelancers has become such a problem in New York City that the City Council has recently proposed a bill requiring that freelancers be paid within 30 days. The bill would also put certain burdens upon freelancers in order for them to receive protection under the Act, and proper invoices are one of them. The bill shows the importance of properly invoicing clients in the payment process – a standard rule which applies to freelancers and small business owners across the country.
A successful payment process begins with you. You must decide upon the type of payment terms you can live with. If you are just starting your business, you may need to require payment upon delivery. Or, if you can wait, say, 30 days to receive payment, you may want to set your terms at 14 days so as to allow for processing and for late payments to come in. Regardless of the terms you choose, make sure that you communicate those terms clearly with your customers in advance, and that your invoices are clear, correct and professional.
With Street Invoice, our free app allows you to create and send professional invoices directly from your mobile device anytime, and from anywhere. Do not suffer from payment delays simply because you cannot send an invoice immediately. Our invoicing program is simple and user-friendly, and it takes the confusion and difficulty out of the invoicing process. Take control of your accounts receivable with Street Invoice today!