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As you begin to build your video production business, you will quickly find that understanding how to build a proper invoice can help you in various ways. Filmmaking might be your forte, but knowing how to collect the money your customers owe you can help you build your reputation as a professional and ensure that you have the resources to continue to grow and nurture your small business.
In this article, we will explore what you need to know about the importance of invoicing your customers and what to include in this critical business form to help you appear prepared and thorough throughout your interactions.
If you want to grow your business, then your business needs access to regular funds. For freelancers who started off small, it can feel like a huge adjustment to start having to invoice clients on a professional basis. However, as you start working on a more professional level, you want to make sure you carefully manage your finances so that you can keep track of what your customers owe you and who has and has not paid.
It can be easy for clients to forget about the payments they owe when they do not receive a formal invoice. If you do not document how much you charge and precisely what services the client received in response as well, disagreements can arise about the amount due. Therefore, you want to have clear documentation when you first agree to a job regarding how much you will charge and what services you provide and then reflect this information again on your final invoice.
We will explore some of the types of services you may have provided and what you want to include on your invoice.
As you begin to construct your video production invoice template, you will want to include a few key characteristics that will help you clearly express your charges and the services you provide to your clients. You can create an invoice template yourself using a program like Microsoft Excel or Google Docs. Still, many find it significantly easier to use professional invoices created by a platform such as Skynova to ensure that they do not forget anything and simplify the process. The free invoice templates from Skynova are easy and quick to use, allowing you to quickly fill them in and then send them to the client.
Here are the areas to focus on in your invoice.
The first section you fill in on your template should include all of your important business information. This section includes your business name and your contact information. Branding this section further with your logo can also help you cement your organization in the minds of your customers. That way, if they need a video production company again in the future, they will remember you and contact you first. With your contact information prominently displayed as well, it will be easy for them to do.
As a freelancer, you also want to detail your hard work regarding the production services you offered. An invoice from you should clearly articulate what you provided for the customer to remember and understand how you came to your total charges.
Listing your services can help the client remember what you performed versus other people hired to work on the project. For example, if they hired an additional production assistant to work alongside you, knowing the role you played each step of the way will help them understand your bill and help to prevent any confusion or disagreements. Here are some of the types of services you might include on your bill.
In addition to listing your services, your invoice should also include a unique number. The number must match other documentation you may have given your clients, such as a quote or estimate. By making sure these numbers correlate, you can keep track of which quotes materialized into paid projects.
You can then also use your unique invoice number when bookkeeping to track invoices, both paid and unpaid. Using unique invoice numbers will help keep your accounting significantly more straightforward and easier to follow.
The next significant section should be to include your total cost and your due date. Determining your total cost should include the addition of a few important parts. The first section should be the inclusion of your total fees for all the services you provided. Some video production professionals will want to charge by hourly rate. Others will have a set fee for different services depending upon the size of the project. Make your billing system upfront for your potential clients and then clearly articulate it on the invoice.
Under your total, you want to list any taxes and fees that apply to your client. Including your sales tax is a standard invoice component. If you have fees for late-payments and this client has missed your deadline, recording the additional fees on the invoice will be critical.
In addition to your total final cost, you also want to note your payment terms and the acceptable payment methods, including the final due date. Providing this information will let clients know their payment options, such as if you offer an online payment choice or if they can use a credit card. A due date will also allow you to follow up with clients about unpaid invoices at the appropriate times.
As you manage your accounting, you will find that a free video production invoice template from Skynova can help you complete your accounting tasks faster to spend less time on accounting and more time doing what you love. Skynova also offers a variety of different types of invoice options. Regardless of whether you need a template for an estimate or if you provide related services, such as content development, you will find that Skynova can help you access what you need for accounting.
The invoicing software from Skynova also pairs easily with our accounting system. You can use the accounting system to manage your business needs quickly and easily. Track your income from each invoice, manage your expenses and track your receipts, and then know exactly when the time has come to invest in your business. See how easy accounting and invoicing customers can be with Skynova.
The content within this article is a general guide for invoicing and may not apply to your specific situation. Always consult with a professional accountant to ensure you're meeting accounting standards.