Are you just starting out in the business world and thinking about possible ways to create an invoice for self-employed folks? No worries, stick around and we’ll show you.
Self-employment, others call it Entrepreneurship or freelance job, refers to the status where one individual runs his or her own business and therefore, he or she is the employer. And since it also a kind of business, then he or she should also get paid.
That is the time where the self-employed invoice is necessary. Yes, even if you are self-employed you still have to issue a kind of sample receipt where it states that you should get paid, how you will get paid, and what is the amount of your payment.
Not only does it guarantee you to receive your payment as a self-employed, it also shows your professionalism in business.
If you are self employed, an entrepreneur, even a big business owner, you know that invoices are very important.
They play a very big role in your business. Without invoicing, how would you get paid for your goods or services? You would have difficulties with collecting payment.
You may be struggling with making your invoice, worry no more, ProInvoice is the solution. ProInvoice gives you the perfect solution to problems with invoicing, it gives you a stress free and effective invoicing system, with a few clicks, your invoice is ready.
What to know before you start creating an invoice for self-employed persons
What Is An Invoice?
An invoice is a document you send to your client(s) after delivering goods or services. This document contains a full description of the products and services to be paid for. Important information required on the invoice include :
- Company name/Business name and contact details
- Name of customer, individual or organization and address
- Date issued and due date of invoice
- Product/Service details
- Payment methods & details
- Terms & Conditions
- Invoice number
- Business logo
- Price and quantity of each product/service
- Tax or discount
- Total amount to be paid
There are two types of invoices – the paper invoice and the E-invoice (electronic invoice), whichever one you prefer, ProInvoice is still the best option.
How to Create a Self-Employed Invoice
Here are the steps in creating a simple invoice for self-employed.
Create an invoice template and invoice number
The first step is to create an invoice template where you can use it for every transaction.
Use a proper software in creating the template, such as the Microsoft Word and Microsoft Excel.
Include the following in your template:
- Company Name / Self-Contractor Full Name
- Phone / Fax Number
- E-mail address
- Company Website
Write your service description:
All the information above could be a default information in the printable invoice. However, your service description should vary and adjusted to ensure the invoices are tailored to the service you provide the client.
Provide the payment details:
Since one of the main purposes of the invoice is to make payments, therefore this part of the invoice should be written clearly.
Include all the information regarding the payment, such as the payment methods used and how you charge your service.
National Insurance and VAT:
Not all invoice has this section, but every self-employed invoice should include the national insurance number and VAT information.
State the terms of payment:
The terms of payment invoice refer to the period of time in which the invoice should be made. Also written here is the condition if the invoice is not paid.
When Should You Send the Invoice?
If you are self-employed or freelance invoice, this questions always comes to your mind. And if you do not know the answer then you might be having a hard time in deciding on which day of the month you should be paid.
Every time you work out the contract for each client, that is also the time you also discuss how you get paid.
The best thing to do is to list out the terms of how often you plan to invoice the client and terms on how you will get paid.
Different Invoice Types for the Self-Employed
- Standard invoice: Issued by a seller of products or services to a buyer and shows the amount of the buyer owes the supplier.
- Credit invoice: Commonly known as the credit memo, is issued by the seller to a buyer and shows the amount of the seller owes the buyer.
- Debit invoice: Also called as the debit memo, is issued by a seller to a buyer. This invoice specifically shows the increase in the amount of debt the buyer owes the seller.
- Prepayment invoice: This is used to record the down payment made by a buyer.
- Withholding tax invoice:This serves as a record every time you remit withholding tax invoice to the tax authority.
You should choose an invoicing system that makes it easy for you to quickly send and track invoices. A system that makes it seamless to create and distribute invoices and easily collect payment.
Why Should You Choose ProInvoice?
ProInvoice provides you with all the necessary requirements for easy, reliable, and mistake-free invoicing. ProInvoice gives you a solid handle on your invoicing, plus you also get that professional look your invoice deserves.
What Makes ProInvoice Unique?
ProInvoice makes it easy for you to quickly draft, create, send and track invoices. That’s why we are the fastest solution to collecting payments, we have made things extremely easy for you so you can –
- quickly generate your invoice and save time
- easily track and manage your payments
- improve your cash flow with faster payments of invoices
- easily save, sort and store invoices using names, dates and keywords
- easily reproduce recurring invoices for a particular customer
- have your invoice in different formats like pdf, microsoft word, google sheets, google docs, excel and even canva, so you can easily print it if necessary.
- choose the invoicing style that works best for your business.
ProInvoice is your go-to for making reliable invoices and growing your business as well. Use it, you’ll love it. Try Proinvoice today.