Tuesday 25 March 2014

Invoicing & payment


Writing great articles is only half the story - because if you're successful in getting published, you'll want to be paid promptly as well. Asking for payment is always difficult, but there are ways to be professional about it.

Spend the time negotiating a clear contract right from the outset

I've worked in contracting in the Adventure travel business for the last 10 years and trust me, any loop holes will come back to bite you in the bum at a later stage if they aren't ironed out from the beginning.

Organise your invoice and billing system

Build an invoice template to include the following:

·      Your name
·      Your company name (if different to your name)
·      Your company mailing address
·      Your email address and phone / fax numbers
·      VAT number if VAT registered
·      A unique number for identification - which will be useful to reconcile your accounts at a later stage
·      Company name and address of the company you're invoicing
·      Space for itemising services and expenses with a final total
·      Invoice date (the date you create or send the invoice)
·      Supply date (the date the goods or service were provided)
·      Payment date (the date you expect to be paid - usually 30 days from receipt of invoice)
·      Acceptable payment methods

Find out who pays the bills, and when

Be sure to ask where to send your invoice and who needs to receive a copy of it, then make a note of your contact in case there is a delay with payment.

Keep a ledger to track your outgoing invoices and incoming payments

It's really important to know where you are at any given time.

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