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Service Invoice Template
Every service-providing business needs an efficient way of billing clients. No matter what type of service you provide or the variety of projects you handle, it’s essential to receive your money on time, so you can pay your employees and cover the usual expenses.
To make it easier for your clients to make the payment, you must issue a comprehensive bill that offers all the necessary details. And the best way to do that is with an accurate service invoice template.
That way, you can keep things organized and save time. Below, you will find all the information you need to create a services invoice without hiring an accountant to do it.
What Is a Service Invoice?
A service invoice is a billing document that businesses use to communicate specific details about the amounts their clients owe them and what they represent. Just as it happens with goods, services also need to be reimbursed, and a comprehensive invoice is the best tool.
The easiest way to understand what this type of invoice looks like and what it represents is by looking at a service invoice example. You will see it’s a detailed presentation of every service you performed for the client, and it breaks down the costs to make it clear how you got to the total amount due.
It also contains all the payment information they need to send you the money. Invoicing services may sound challenging if you don’t have any experience with it, but it’s actually easy to do if you start from a good service invoice template.
How to Make a Service Invoice?
Invoicing services efficiently is crucial for large and small businesses alike. Maybe even more so when you own a small company and a steady cash flow is essential to stay on track. To help you create an accurate service invoice, we made a step-by-step guide you can follow:
- Start with branding details – a logo will look great and personalize the document, so make sure to place it in the header.
- Provide your company’s identifying and contact information: name, address, phone number, and email address.
- Add your client’s name and contact information. Before issuing the invoice, talk to your client to confirm the billing contact.
- Create a unique number and assign it to your invoice; that’s essential for a good organization and future references to this particular bill.
- Add the date when you are issuing the service invoice.
- Mention the due date and make sure it’s as straightforward as possible. It needs to be a specific date rather than a term, like 30 days. It’s also a good idea to bold the date or write it in a different color, whatever you think will make it catch the client’s eye.
- When you’re invoicing services, you need to list them in detail, mentioning every service performed, how many hours it took, your payment rates, and a subtotal for each one. You can use itemized services invoices to make things more clear.
- Sum it all up and mention the total amount due, including any taxes that may apply. Then, just like you did with the due date, bold it or highlight it to make it apparent.
- List the acceptable payment options and mention any other relevant aspects, like penalties for overdue payments.
When Do You Need to Use a Service Invoice?
As soon as you complete a project for a client, it’s time to invoice the service as a first step towards receiving the payment. It’s the first notice you send the client, informing them how much they need to pay and what the deadline is.
As the due date approaches or passes without receiving the money, you can turn to other types of invoices as reminders of the unpaid amounts.
If you are involved in a long-term project with one of your clients, you can issue services invoices for each milestone once they are completed. It can be a recurring payment, and if you need to make adjustments, you can use a different service invoice template to make the changes.
As a general rule, the sooner you issue and send the invoice, the better. Invoicing promptly and including flexible payment options and discounts for fast payments will increase your chances of receiving the money as soon as possible.
From a broad perspective, you need to use a service invoice for many essential reasons. An accurate service invoice template will create billing documents that maintain your professional image, ensure a good collaboration with your clients, help you keep track of the due payments, and keep things organized in your accounting records for tax time.
Service invoices are essential for many reasons, as we mentioned. When you do your best to provide excellent services for your clients, it’s only fair to be reimbursed on time. Make sure you create the best service invoice, and you will have one less important thing to worry about.
The service invoice template from WeInvoice is an excellent option and looking on the website, you will discover many other great templates and invoice generators that can make your job much easier.