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Contractor Invoice Template

Working as an independent contractor can be an ideal job as it brings freedom and flexibility to choose your hours, clients and projects. Many contractors are single-person operations or employ very few people, often work with a handful of clients and don’t always employ accounting services. Creating a templated invoice option will help you avoid costly mistakes as a contractor and you’ll also get to spend more of your time focused on what you do best.

    Be fast and professional

    With a templated invoice you can bill your clients in minutes and always stay on top of payment collection for the services you provide.

    Never miss a beat

    Take charge of your invoicing and of your work and never miss an important detail so you can stay on top of your business finances.

    Why contractors should send professional invoices

    An invoice is an important record of sales so the contractor performing the services or delivering the goods can get paid. This means that invoices are an important part of your financial history and can be used to calculate profits and cash flow.

    Invoices are also required as one of the key pieces of evidence by the IRS when you file your tax returns. They offer legal protection in case of lawsuits as proof of what services and when you provided to your clients.

    What you can do with an invoice template?

    An invoice template allows you to separate the price of the contract i.e. the work /services rendered, from the cost of materials and tax – Goods & Services (GST) and Hamonized Sales Tax (HST).

    Don't forget the details

    The contractor invoice should also include important information about terms and acceptable forms of payment, sender and recipient addresses and details, to whom the payment should be made, etc.

    When is the right time to send an invoice to your clients?

    Before, immediately or some time after the job is finished – can be a touchy subject. It all depends on your type of business, what relationship you have with your customers and your business needs.

    Most contractors invoice 48 hours after the job is complete, however for small-scale projects or new businesses, on-the-spot invoicing is a good solution, particularly for handyman, plumbing and auto-repair businesses. Monthly invoicing works for commercial contracts or recurring subscription type services.

    What should be included on an invoice for contractor?

    As a small business owner or independent contractor you’re constantly jumping from one project and client to another, managing competing tasks and deadlines. Using detailed and accurate invoices to track your time, services, materials and goods provided is important to keep your 

    With a templated invoice you’ll make sure you never forget an important detail. Here are some essential items that you should always include in a pro invoice.

    • Label as ‘Invoice
    • Business contact information in header
    • Client contact details
    • The invoice date
    • A unique invoice number (a PO number if you have one from your client)
    • Your payment terms and methods
    • Total amount due at the bottom
    • Brand it with your logo, colors and fonts
    • Payment deadline in bold, visible font
    • Itemized list of services - name, description, quantity/hours, rate and subtotal for each line

    Quick invoicing tips for contractors

    Always do it on time!

    Invoicing, like all other paperwork, might not be your favorite business activity but it’s essential to your cash flow and it’s important to never ignore it. Moreover, make sure you do it in a timely and organized manner so you never fall behind. It’s best to prepare it before the project is finished or service is rendered so you can send it to the client straight after the delivery date.

    Use professional layout

    With pre-set clear and easy to read templates you can ensure that all the information is always there and clients will not struggle to identify the important data on your invoice. Sometimes, clients can end up struggling to identify data on your invoice. Only enter relevant information to avoid confusion and delays in payment.

    Be clear about payment terms

    Agree your payment terms before starting work with a client and then ensure that your invoice clearly states payment methods, deadlines, late payment fees as well as warranty terms, returns and exchange policy.

     Brand your invoices

    Invoice is not just a financial document but another way in which you can stand out from the competition by clearly branding it. Customize with your logo, brand colors and fonts to make this touchpoint with your clients memorable so they can contact you again.

    Duplicate existing invoices

    If you offer similar services to similar clients, don’t waste your time to create a new invoice for each payment. Reuse a similar one – but don’t’ forget to change the relevant details to avoid confusion.

     

     

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