As a jewelry business, you deliver wearable beauty to customers, allowing people to express themselves or their love of someone close to them. Whether your jewelry store fixes precious family heirlooms, sells environmentally conscious moissanite, or handmade rings, you'll need a professional invoice solution. As a small business owner, it's essential that you get paid on time, and the most important step to ensure that happens is sending a comprehensive and professional invoice.
In this guide, you'll learn what an invoice is and why it's important to send them out in a timely manner. Then, we'll break down every step you'll need to take to create a jewelry invoice using our free invoice template.
What Is an Invoice?
Once you've finished a service or sold jewelry items, you will need to create a professional invoice. This is a document that records business transactions between you (seller) and the customer (buyer). All invoices should describe the services delivered and any jewelry items that were sold.
This document is proof that you've delivered your side of the bargain and that you are owed money from the customer. In short, the invoice serves as a document detailing the services and jewelry items delivered, as well as the debts your business is owed.
As a small business owner, it's incredibly important that you get paid on time. As mentioned, sending your invoice in a timely manner helps make sure that you are paid on time; yet, that is not always enough. Ensuring that your invoice explains the extent of your work and details the terms of service helps make sure you get paid within a timely manner. Continue reading to learn how to write a professional invoice for your jewelry store.
How to Create a Jewelry Invoice
Once you've delivered your end of the deal, it's time to bill your customers. Create an accurate invoice using Skynova's invoice template to write your jewelry invoice in minutes.
1. Include Your Business Address and the Customer's Address
To begin writing your jewelry invoice, you will want to ensure that you have an accurate address for your customer. It's important to include accurate information regarding your business and the customer so it's abundantly clear who the bill is coming from and that it's not a scam. Using a name that your customer doesn't know or contact information that is vague can seem fraudulent.
Before you move to the next step, make sure that all of the contact information is correct. Accuracy is important in every step of the invoice process, but especially so for the contact information because it ensures that your customer knows it is a legitimate invoice and that they can contact you when needed.
2. Add an Invoice Number
Next, you will need to add an invoice number. The invoice number is basically a tracking code for the invoice. For example, let's say you need to reference what jewelry you sold to a customer in the past. Pulling up an invoice by looking up its number can help you access this information easily within seconds.
Since every invoice needs a unique invoice number, it's incredibly important that you don't use the same invoice number more than once. Knowing how challenging it can be to keep track of invoice numbers when your mind is occupied with other tasks, Skynova automatically creates a unique invoice number.
3. Insert the Invoice Date and Due Date
Another important detail to include is an invoice date and a payment due date. Both of these dates can be found below the invoice number on Skynova's free invoice template. Including both the invoice date and the due date helps to make sure that the customer pays you on time.
To start, add the invoice date. The invoice date is the day on which the invoice was created and sent to the customer. After you've done this, add the invoice due date. This is the date your customer must pay you before it's considered a late payment. Many times, payment periods are within seven, 15, or 30 days of the due date. Depending on your company's policies, the exact payment period may vary.
4. Include the Cost of Supplies When Applicable
Additionally, you may include the costs of supplies. Depending on the nature of your jewelry business, the exact supplies you charge for can vary. While those that own a jewelry repair business might charge for cleaning supplies and new jewels to repair a ring, another business might charge a standard price for the piece of jewelry. For this reason, your jewelry invoice might not always include the cost of supplies. The invoice template can be personalized to include supplies or not.
If you do charge customers for the cost of supplies, click the dropdown below Item. Then, select Product. We recommend adding a description beside the line item, as it makes it obvious to the customer why they are being charged. From there, type in the Unit Price, which is the price of the product (e.g., the cost of sapphire), and the Quantity (e.g., the number of sapphire stones). Once you have entered these details, the Amount will populate automatically.
5. Enter the Cost of Labor When Applicable
Just as with the cost of supplies, your business might not charge for the cost of labor. For jewelry businesses that repair jewelry, you may want to charge for the cost of labor. In this case, you can choose between the cost of the service, hourly, or even a day rate. To enter the cost of labor, click the dropdown below Item and select Service, Hourly, or Days. Then, add a description, unit price, and quantity.
6. Add Discounts
Providing discounts in any industry can reel in business, but it's especially true for the jewelry business. Whether you offer holiday sales or discounts for family and friends, Skynova's invoice template allows you to easily add in discounts. Just like the cost of labor and supplies, you will need to click the dropdown below Item to add a discount to your sales invoice. After, click Discounts to add an applicable discount. Remember to include a description of why the customer received the discount. This will ensure that they see the discount they received.
7. Add a Note
Provide your customer with additional context by providing a note at the bottom of the business invoice. Although each line item allows you to add details, you may want to reiterate important details in the notes section. We recommend including a summary of the work you completed, an explanation of discounts, and acceptable payment methods. You can also customize a thank you note.
To add a note, simply click the Notes box toward the bottom left of the invoice template. Then, add in any additional information you would like to include.
Tips for Invoice Success
Now that you know how simple it can be to create a jewelry invoice with Skynova's invoicing software, use these additional tips to get the most out of invoicing:
- Provide payment options. As a jewelry business, you may sell jewelry items that require payment plans. Although some customers may be able to cover it all at once, you may consider offering payment plans to your customers. Additionally, payment options could include cash, debit card, or credit card.
- Encourage reviews. At the Notes section of the invoice, you could encourage customers to add a review to Google or your website. When choosing a jeweler, many people consider reputation and customer service.
- Send late payment reminders. As a small business owner, handling late payments can be stressful. You may be afraid of coming across as aggressive or rude, even when you deserve to be paid on time. Skynova helps business owners track invoices so it's easy to send out friendly reminders. You can send late payment reminders with confidence, as late payments are often a result of accidentally overlooking a bill and can then be paid promptly.
- Send jewelry receipts. Once the invoice has been paid, you can send your customer a jewelry receipt. Skynova's receipt template simplifies the process so you can send receipts to customers to avoid potential confusion.
Skynova Streamlines Processes for Your Jewelry Business
Using Skynova's jewelry invoice template can minimize the stress of creating and sending accurate invoices. Handling the billing process is straightforward and can be completed much faster when you use an easy-to-follow template.
Unlike Excel templates, Google Sheets, and Microsoft Word, our invoice form integrates with our accounting software. This allows you to track and monitor all of your business records from one place. In addition to our invoice templates, we offer additional templates to help streamline your small business accounting processes. Start a free trial today to test out our other templates and accounting software.
Notice to the Reader
The content within this article is meant to be used as general guidelines for writing a jewelry invoice and may not apply to your specific business. Always consult with a professional accountant to ensure that you're meeting accounting standards.