Operations

Among many crucial business practices, learning how to keep track of invoices and payments emerges as mission critical. Recent statistics reveal that 11% of customers never receive their invoices, with 35% of unpaid invoices remaining for over 30 days. These numbers underscore the importance of invoice monitoring, as it safeguards revenue streams and fosters financial […]

As your contracting business grows, so does the size of your projects. Instead of wrapping up in just a few days, projects can take weeks, months or even years to complete.   When these larger projects start to become your norm, your business is probably at a point where it has outgrown a bill-as-you-go system. In […]

There are many things a business owner can put off, but invoicing is not one of them. Timely invoices help ensure a healthy cash flow so you can keep For many businesses, accepting credit card payments on a mobile device is the easiest—and fastest—way to get paid. Using a smartphone or tablet to generate an […]

There are many things a business owner can put off, but invoicing is not one of them. Timely invoices help ensure a healthy cash flow so you can keep your business running. However, it’s not enough to just tell your customers how much is due. You need an invoice that includes:  the date of the […]

The lifeblood of every business is cash flow. Small business owners and contractors need money coming in so they can pay their suppliers, employees, and themselves. One way to help maintain steady cash flow is by offering net 30 terms. For many people new to running a business, this common invoicing practice is unfamiliar. Here’s […]

We’ve all been there. You’ve done the work, sent the invoice, and… crickets. Suddenly, that hard-earned money feels a lot further away than it did a few weeks ago.   Despite businesses doing their best to stay on top of payments, the late payment struggle is real. The 2022 Late Payments Report reveals that a whopping […]

What is “Net 30,” & What Does it Mean on an Invoice?  Net 30 is a payment term for invoices. When this term is included on an invoice, it means the customer has 30 days to pay the total. With net 30, you’re extending credit to your customer and allowing them to purchase services and […]

Streamline your financial record-keeping by learning the difference between invoices versus receipts. Plus, get tips for tracking these critical tools.

A pro forma invoice, also known as a proforma invoice, is an invoice draft that business owners and freelancers can send to customers before beginning a project or asking for payment. A proforma invoice is not a bill; it is simply a way to calculate and notify the customer of the cost of the order […]