Create clear and detailed invoices
A good and correctly prepared invoice is the absolute basis of a healthy financial process. Make sure your invoices contain all the necessary information, such as your name, possibly your company information, contact information, the invoice date, due date, invoice number and a detailed description of the services provided. Transparency is essential for smooth cooperation with your clients.
Use professional billing software
Invest in special billing software to automate your processes. Not only will this help you make fewer mistakes, but it will also make it easier to keep track of outstanding payments. You'll get a nice overview of your income and expenses over time, and you can quickly retrieve information.
There are a lot of different software programs for invoicing, many of which offer more features for online accounting. Many of these programs you can try out for free for a month before you fully commit to them. Consider not only the price - which, by the way, you can deduct from your gross income as a professional expense - but also the usability and customer service. And ask for advice from other influencers or digital creators to find out how they go about it.
Clear payment terms
'Good agreements make good friends' - it's a cliché of sorts but it's certainly true when it comes to invoicing. It's best to make your financial agreements official right away by including your payment terms in your invoice. This will explain the due date of your invoice and any additional compensation for late payment. Your customers will then be more likely to respect the payment term so that you yourself have more certainty about your income.
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Establish a clear contract
Speaking of good agreements: an invoice follows a project, but before you fully commit yourself to a new project, it's best to draw up a contract setting out the terms of the collaboration and payment. A contract offers both you and your client more protection and clarity on expectations on both sides.
Automate your payment reminders
Do things go wrong anyways, resulting in a late payment? Through your billing software you can send automatic reminders that kindly remind your customers of outstanding payments. In any case, there is no need to panic or to react sharply to the first payment reminder. You can assume that customers are usually not of bad will and will still pay quickly.
Keep your accounting records up to date
Even though it may not be your greatest talent, your financial records deserve attention. Keep thorough records of all your income and expenses. That way you won't encounter any surprises and your tax return will eventually go more smoothly. It is also a lot less stressful for you if you have insight into your financial situation from month to month.
Seek professional support
If you find that your financial processes and invoicing are becoming too complicated, consider professional help, especially from an accountant. They can support and advise you in optimizing your financial processes. Look for an accountant who knows about the specific tax rules and possible benefits for digital creators and influencers.
Golden tips from colleagues
Your first real invoice, the first client who doesn't pay on time, the best accountant or the optimal payment terms... As an influencer or creator, things can move fast and new questions are constantly popping up. Are you looking for answers, inspiration, or the right information? Join the Chase community, our network of creators and influencers, for free. You'll get free access to all kinds of content and workshops, and you can easily exchange ideas and tips with others.
