Methods For Sending Invoices
You can use any invoicing software you want, and as long as your customer payments are deposited into your connected business bank account, ReInvestWealth software will pick it up as revenues.
If you’re looking for the best online invoicing and payment processing platform, ReInvestWealth is partnered with Stripe. You can link your Stripe account to ReInvestWealth, and all your invoicing done on Stripe will be tracked perfectly.
Stripe is super flexible. You can send one-time invoices, recurring invoices, quotes, and many other types of payment requests to your customers. You’ll also be able to accept different types of payment methods such as credit cards or pre-authorized debits. Stripe has some of the lowest fees in the market for accepting online payments.
If you choose to send an invoice through Stripe but collect the payments outside of Stripe, such as through a money transfer, you won’t have to pay for using Stripe.
One interesting statistic is that you can increase your sales by 30% if you give your customers the option to pay using a credit card which Stripe can do. You’ll also reduce the time you chase your customers for payments, because Stripe will send automatic reminders and even automatically charge your customers if they need to make recurring payments.
If you’re new to Stripe, check your ReInvestWealth recommendations for a special Stripe promotion.
Why Are Invoices Important?
1. Professionalism
A clear, well-organized invoice reflects professionalism and builds trust with your clients. It shows that you value your work and take your business operations seriously.
2. Payment Tracking
Invoices serve as a financial record, making it easier to monitor which payments have been made and which are outstanding. This is crucial for maintaining positive cash flow.
3. Tax Compliance
Invoices document your revenue, simplifying the process of filing taxes and staying compliant with regulatory requirements.
4. Legal Protection
A properly issued invoice is an official request for payment and can serve as evidence in case of payment disputes.
Frequently Asked Questions
Does ReInvestWealth accounting software have invoicing?
ReInvestWealth is partnered with Stripe for invoicing and online payments. You can link your Stripe account to ReInvestWealth, and send invoices from Stripe. When your customers pay your Stripe invoice, everything will be tracked perfectly and recorded accurately for bookkeeping purposes, in your ReInvestWealth profile.
What should I include in an invoice?
An invoice should include your business name and contact information, client’s name and contact information, invoice number, invoice date, due date (optional but recommended), description of goods or services provided, payment terms, total amount due, sales taxes (if applicable), and accepted payment methods.
How soon should I send an invoice?
Send invoices as soon as possible. Generally, invoices are sent before a service is rendered or immediately after completing a service or delivering a product. Prompt invoicing reduces delays in receiving payments.
Should I charge late fees for overdue invoices?
Ideally, yes. Adding a late fee clause in your invoice terms can incentivize timely payment. Make sure to clearly state the late fee policy on the invoice.
Should I send reminders if my customers don't pay my invoices on time?
Yes, you should send multiple follow ups until your invoice is paid. Stripe will automate sending reminder emails on your behalf.
How can I make it easy for clients to pay?
Offer multiple payment options, such as:
Credit/debit cards
Bank transfers
Online payment platforms (e.g.,Stripe)
Checks (if applicable)
Are digital or paper invoices better?
Digital invoices are more efficient, cost-effective, and environmentally friendly. They are sent instantly by Stripe. ReInvestWealth will record both the Stripe invoice and the invoice payment.