In this article we explore this FREE HTML Invoice Template. Its features, how it can be used for invoicing. This html invoice template can be downloaded for free on DealFuel
Major Challenges for a Small Business
According to the Small Business Administration (US), there are above 23 million small businesses, and they have increased by 49% since 1982. Almost 54% of the US sales happen with small businesses, and they’ve created 8 million jobs since 1980.
For an entrepreneur, starting a business is one of the greatest achievements of life. But maintaining a small business is no easy task. It’s a bigger challenge than you actually think.
There are challenges in every business, no matter big or small. One of those challenges is invoicing. According to ABFA news, the smallest business waits the longest for payment. The average time for payment now is 72 days for small businesses. Not to mention, for the efficient small business, cash flow depends on prompt payments.
The key the prompt payments is prompt and efficient invoicing. So basically, invoicing has the strings of the small businessmen.
The invoicing problem
If you are facing the invoicing problem, you’re not alone. 86% of the small businesses have problems with their invoicing mechanisms and delayed payments.
How can you convince your customers and clients to take your business seriously and pay you on time?
The most challenging aspects of the invoicing problem:
The basics of invoicing are quite simple and it makes the process seems like a cakewalk. Does a commercial invoice template make any difference to your business? Other interruptions and commitments sometimes get in the way. But with a whopping 86% of people facing issues here, there seems more to it. Here are some of the most common invoicing challenges faced by small companies:
Creating invoices on time in a busy schedule
It can be difficult to send invoices at the time when your business is thriving and you are busy trying to make money. This is a very common problem faced by small companies.
Following up on overdue invoices
This is the biggest problem. You need to follow up with your payers for overdue and unpaid invoices. It may require creating further invoices or reminders to be sent to clients seeking payments.
Splitting the payments into multiple invoices
Now this can be tedious. It is hard to manage multiple invoices when you literally don’t have time for creating one.This is usually done so that the payer can pay you in easy installments.
Segregating invoices from different sources
Sometimes you have to segregate expenses of different types (for e.g. purchase of assets, use of services). If this was coupled with the above, you need to have a segregated split invoice (Whew!)
Ensure all completed work has been invoiced
This can be a quite a task especially when you’ve got a team to work on a single client project. You may have to centralize the invoicing process to make sure that you dont miss out anything .
Looking at the problems above, we understand that invoicing is not a straightforward process, but it’s not a rocket-science either. With the right tools (e.g. free HTML invoice template) and process, you can get paid on time.
Lets understand the invoicing process first
The invoicing cycle basically runs from month to month, and the amount is billed at the starting of each month. You send invoices to your clients because they owe your business for your services. At the start of each month, you bill your customers for services you have provided them in the previous month.
In the invoice, you have to mention all details of the project milestones you have completed and may need to precisely specify the service you are charging your client for.
You can need to add some details like invoice generation date, due date, overdue fees, fines, extra services, discounts in the bill. Getting on the nerves of invoice generation and creating an excellent invoice can help you get paid faster. When I say excellent, I don’t mean beautiful. It means you have to create the invoice intelligently which can make your client pay on time. For example, you can add a due date and overdue charges for a late payment. To add clarity, you can make this font bigger and different. This will make your client consider paying you within the due date.
Invoicing options for small businesses:
For small businesses, creating invoices can be a painful task since fewer people share greater responsibilities. Moreover, people are more focused on survival tasks which generate revenue and hence they tend to overlook the bill collection process. Thanks to the digital era and various online tools and templates, invoicing has become easier than ever.
Well, for generating invoices, there are three options:
1. Create the invoices manually
Yes, you always have the option to create invoices manually. It definitely gives you a greater control on how you want the invoice to be like, but it is error prone and time-consuming. Every month you have to create so many invoices
2. Use professional invoice templates
This seems to be the smart choice. If you search for a free HTML invoice template, there are plenty available on the Internet.. These online invoice templates simplify the whole task. Just choose the template of your choice, make some edits, add/remove some more things that you think should/shouldn’t be there, and your invoice is ready to be sent in a matter of minutes.
3. Create invoices using free online invoice generators
Creating the invoices with the help of free online invoice generators can also save a lot of time for you. All you have to do is fill in some details, choose your favorite format, and create the invoice online within a couple of minutes. There are many invoice generators available online that you can use.
I resort to invoice templates
I have tried a lot of things as far as invoicing is concerned. I first tried a free Word invoice template. It worked well for 2-3 months but then I found that I was doing a lot of calculations with Excel and then pasting them into the Word template. So I decided to switch to a free Excel invoice template.
While the Excel template was definitely better than the Word template, it lacked the elegance of a professional invoice. More over I found myself messing up some of the existing formulas in it, adding confusing to my already confused billing process.
So what is the right template for you?
While selecting an appropriate format for your invoice, you must identify what your template needs. Once you know your template needs, it will get easier for you to choose a right template for you. Here are some suggestions based on my experience with invoicing:
- Company details like company name and address, logo, contact details and description of services provided.
- Customer contact information, and the agreed cost for the services you have provided. This might be split up as number of services and cost of each service and the sub total for each service
- Invoice generation date
- Invoice due date
- Fine / Over due payment
- Details of how to make the payment (Bank details, online payment gateway details, etc)
A professional invoice with necessary elements can easily be created with the help of convenient and free invoice templates online. If you search on the web, you are sure to come across a huge number of free invoice templates
These invoice templates are separately made for different types of services and you can choose one according to your needs and services you are billing your client for.
Invoice templates help you create an impactful and professional invoice for your small business. They are available in many formats including word, excel, and HTML. You can choose one depending upon your choice of format.
Free Word invoice template
Word templates are the most commonly used. You don't need any training. They impart a lot of flexibility. They’re decent looking and can be created easily with basic word knowledge.
Free Excel invoice template
Excel invoicing can consume a little more time than word template to complete but looks quite professional and credible. They add value to your business and let you appear more professional in front of your clients.
Free HTML invoice template (my selected choice)
HTML invoicing templates make your life much easier as they can be sent directly as a link you’re your customers. They look quite professional and can easily be created with the help of online free invoice generator. They can be kept online on your business portals and can be restored anytime. There are many free HTML invoice templates available on the Internet. But many of them are half baked and give errors half way. It takes a huge amount of time to evaluate and nail down the one for you. This is the free HTML invoice template that worked wonders for me.
A Note for you before you use this free HTML invoice template
1. Update your company details
Ensure that you have added the correct company details including your company logo, address, contact details.
2. Add additional details
Add an invoice number, invoice date and the customer details to whom the invoice has to be sent.
3. Due date, fees, etc
This is very important. If you want your invoices to get paid on time, you need to make sure you communicate the implication to the customer. Add the validity of the invoice, the due date and the invoice reference.
4. Add the item details
Add the various items that you are invoicing the client for. Make sure you add the name of the item as discussed with the client. Here, you can configure the various columns to accurately show the invoice. For e.g. if each item has a tax of its own, you can add a tax field. Similarly if you want to offer an line wise discount, you can go ahead and show a discount field.
That's it. Your work is almost done. This auto-calculating free HTML invoice template does the rest for you. It generates a professional invoice and allows you to send it to your client online:)
Your template is literally your last statement about the work and services you have provided to your client or customer. Make it professional and credible to ensure that you can keep the confidence of your clients in you and they can consider your services for their future projects.
If you require to go a step further for your invoicing, here is a collection of hand-picked 30+ self-calculating premium invoice templates that you can select from.