Xero online invoicing – a faster way to get paid
Xero online invoicing removes the limitations of using traditional paper invoices to get paid.
Xero's built-in online invoicing features let your business carry out the whole invoice process electronically. There are key tools for creating repeat invoices, taking online payments, tracking sales revenues and chasing up any late payments – all from inside Xero.
Removing the hurdles to efficient invoicing
The traditional way of raising invoices puts a whole bunch of hurdles in the way of your business getting paid. You need to key in the invoice, print it out, post it to your customer and then hope that their accounts payable team actually pay you on time.
By doing your invoicing with Xero, you can:
- Go paperless – and email electronic invoices straight to your customer’s inbox
- Track when customers receive the invoice – and send automatic payment reminders
- Include online payment buttons – making it easy for customers to pay on time
- Link your invoicing to your accounts – so you can track your sales and keep your Xero numbers up to date, with no additional keying in or messy spreadsheets
Get paid faster with these 6 invoice tips
1. Email your invoices – do away with snail-mail almost everyone’s on email these days. Gone are the days when a formal piece of paper is the norm for invoices. Posting your invoices only delays payment — firstly there’s the time they take to reach your customers, second, there’s a high chance your customers will put your invoices in a drawer and forget about them. In Xero, you can email your invoices directly after you create them — just click ‘Email’.
2. Be clear with your payment advice - In your payment advice, encourage your customers to pay you using a payment service such as Stripe, rather than by cheque. Cheques take days to clear, can get lost in the mail and can bounce. If you prefer electronic payment — say this in your payment advice. In Xero, go to ‘Invoice Settings’ to set the payment advice that appears on all your invoices.
Make sure your customers can’t miss your payment advice — repeat it in the emails that go with your invoices. In Xero, go to ‘Email Settings’ to set up an email template that includes your payment advice. Setting up a template means all your emails will include your preferred payment options — you don’t need to retype them every time you email an invoice.
3. Send online invoices – not just PDFs - Want to dramatically increase your chances of getting paid as soon as your customers receive your invoices? With online invoices your customers simply click on a link you send them, then click on a Pay Now button. Your customers don’t even have to think about when or how they’ll pay you — they’re likely to pay you immediately. In Xero, online invoicing is set up for you – we provide the online invoice link every time you email an invoice, all you have to do is attach your payment service.
4. Attach files to your invoices – don’t give your customers a reason to query your invoices
Give your customers all the information they need as soon as you invoice them. Otherwise, your customers might use lack of documentation as an excuse to delay payment. In Xero, you can attach files directly to your invoices — this is ideal for supplying your customers with details such as work schedules, contracts and product specs.
5. Get your due date right - For the line of business you’re in, find out what’s common practice for due dates. If all your competitors ask for payment in 14 days, don’t be the business where it’s OK for your customers to pay you by the end of the following month. In Xero, set a default due date so you don’t have to think about it every time you enter an invoice.
6. Invoice as soon as possible - Finally, it goes without saying that the sooner you invoice, the sooner you get paid. Get into the habit of invoicing as soon as you complete work, rather than waiting until month-end. Xero has a mobile app, which means you can invoice from anywhere — so use otherwise wasted time, such as waiting in an airport lounge, to do some invoicing.
Talk to us about switching to Xero online invoicing
If you want to move your invoicing into the online age, Xero is the way to go. We can help you set up your Xero online invoicing and help you speed up payment times as a result.
Get in touch to start invoicing with Xero.