According to reports, 1 in 4 Americans will work remotely this year.
And remote work isn't the only thing that's trending. The number of freelancers in the US has surged over the last decade and is only predicted to increase. Forecasts state that 50% of Americans will participate in the gig economy by 2027.
Are you just starting your freelance career? If so, there's a vital area you should be optimizing. That is freelance invoicing. Even if you've been freelancing for a while, perhaps your invoicing system could use some streamlining.
Invoicing is an essential part of freelancing, since there's no one sitting in HR preparing your paystub or keeping tabs on all the work that you do. As a freelancers, you need to notify clients when they need to pay you and for what. You also need to ensure they do pay and that you record this.
This can all add up to a lot of work and hours spent if you don't streamline your freelance invoicing process. Without a good system in place, you could also jeopardize payments and relationships with clients.
Ready to revolutionize the way you invoice? Keep reading for 6 actionable methods for optimizing your freelancing invoicing process.
One of the first tips for optimizing your freelancing invoicing system is to use templates. Creating a solid freelance invoice template will cut down on a huge amount of work. They also look much more professional than anything you could draw up yourself.
Unless you do freelance graphic design, an invoice that you D-I-Yed, probably isn't going to look all that professional.
Another tip when it comes to templates is to avoid that freelance writer invoice template you found in a Google image search. Most of these aren't entirely customizable and often come with some type of branding on them.
Instead, the best thing to do is leverage a good invoicing tool (like Hectic!) that comes with unbranded template.
We are so passionate about the importance of thorough and streamlined freelance invoicing here at Hectic that we've integrated the ultimate invoicing functionality into our platform.
Designed by freelancers for freelancers, our invoicing functionality takes the work out of billing your clients. It also integrates fully with the other features of Hectic, like our time tracking and project management tools.
This ensures that your invoices are accurate. It also allows for detailed line items, making it easy for clients to see what you are billing for.
Invoicing software like ours also guarantees that all of your invoices are in one, easy-to-find place — no more hunting through files on your PC or in your outbox. Instead, you can know where all of your invoices stand within a couple of seconds.
Are you struggling with clients not paying? Many freelancers do. Remove the barriers and hoops your clients have to jump through to pay you and make it easy for them to do so.
The easier and more convenient it is for them to pay your freelance invoice, the higher the likelihood they will do it on the spot or within a few days.
Without an easy payment facility, they could simply dump your invoice in a virtual "to-do" pile and then forget to pay until you remind them. This isn't good for cashflow. It's also an easy way for disputes to arise.
This is why we have a built-in Stripe integration. With our Stripe integration, you can remove the barrier between what you're owed by offering clients a single-click payment option. See how to integrate your Hectic account with Stripe here.
If you've done any amount of freelance invoicing, then you know how time-consuming it can be. If you can't remember the number of hours you worked, or which deliverables you're meant to be billing for, you could easily overcharge your client, or miss out on revenue that's rightfully yours.
Instead of wasting time compiling invoices and filling out line items, switch to automating your freelancing invoicing.
Imagine that your invoice magically populates itself with everything you need to bill for. While it isn't magic, Hectic can automatically inform your client invoices. If you've been tracking your time and deliverables on the Hectic platform, this info will be automatically ready when you go to create a freelance invoice for one of your clients.
This ensures accurate freelance invoicing and cuts down on wasted time and head-scratching.
Billing is only half the work when doing freelance invoicing. Once you've sent off your freelance invoices, you then need to keep track of who's paid and who hasn't.
If you have multiple clients or a lot of transactions in your account, it can be easy to miss a client payment. It can also be easy to let a non-payment pass you by.
Instead of having to watch your bank payments like a hawk, get notified. With the Hectic platform, you get automatically notified whenever a client pays you.
We will also notify you of payment confirmations and when it's time to send a follow-up reminders to clients of an outstanding invoice.
Like we said before, the Hectic platform allows you to integrate your freelance invoicing with your completed deliverables and tracked hours.
This can save you a lot of time in the freelancing invoicing process. It also results in more detailed invoices. This, in turn, reduces the chances of client disputes.
If clients can clearly see what they are paying for (and it ties back directly to the project outline), they're far less likely to dispute an invoice.
As you probably know, freelance invoicing can be time-consuming and confusing. But it doesn't have to be.
You can streamline your freelance invoicing by leveraging the right tools.
Here at the Hectic, our number one goal is to help freelancers become more effective. We want to save you time and solve your biggest freelance problems — which is why we have developed the best invoicing software for freelancers.
If invoicing is a nightmare and your clients aren't paying on time, check out our invoicing feature for streamlined billing today.