Outline Each Service You Perform
Photographers often provide customers with different services within a single shoot. As a result, you need to clearly outline each service performed to reduce customer confusion. For example, list the time spent taking pictures, editing, and traveling to locations on the invoice. Transparency in the billing reinforces the prices you are charging.
Offer Multiple Payment Methods
Each individual retains alternative preferred payment methods, calling on the need to meet customer demands. Offering multiple different electronic payment methods along with traditional checks gives your customers added convenience. You want to be sure you are listing the methods you accept somewhere on your invoice template.
Weigh the Advantages of Early Payment Discounts
Although offering payment discounts may seem counterintuitive, it can provide your business with access to cash sooner. A slight discount, such as 3%, for payments made within 10 days reduces the risk of receivables going uncollected. Your invoice should clearly lay out any discounts you offer along with assessed penalties for late payments.
Maintain Consistent Numbering
Each invoice needs a number. Find a unique numbering system that works for you. For example, many portrait business owners and freelancers use a combination of letters and numbers. An invoice template allows you to easily add sequential numbers or letters for a new invoice, ensuring that you are keeping consistency throughout the invoice function.
Retain Copies of Invoices
The IRS requires businesses to keep supporting business documents, such as invoices, to substantiate gross receipts claimed on financial and tax documents (IRS). Be sure you are keeping copies of each invoice you create, whether that be an electronic copy or a paper copy.
Access to heightened productivity and efficiency are two of the benefits photography small business owners and freelancers realize with an invoice template. Understanding the information required and top tips can help your business begin taking advantage of the various benefits a photography invoice template leads to.