The invoice is the final step in any UK business transaction. It’s a necessary piece of documentation that confirms the terms, conditions, and prices agreed to by both parties. You may be choosing between invoice templates or custom invoice forms for your company, but which one should you choose?
This blog post will break down the differences between each invoice type so that you can decide what works best for your company.
Let’s get started.
What is a Custom Invoice?
When you create a custom invoice, it means that you are building the invoice from scratch. You will also choose various options for your invoice template, such as what kind of format and layout you want to use. A word document is one format that can be used for invoices if they are not being printed out or sent through email.
This way, there is no need to worry about formatting issues because everything with this process will come down to personal preference.
What is an Invoice Template?
An invoice template is a document, usually in Microsoft Word format, which you can download online. Most invoice templates are pre-formatted so that all the user needs to do is add their business information, and they have an invoice ready for sending out with payment requests.
There are free invoice templates available on many websites, but there are paid invoice templates too. You could also go for invoice template to download.
Invoice Templates vs. Custom Invoices
Which is the superior option? Is it a customs invoice or even an invoice template? While both have merits, there are clear advantages to adopting an invoice template. Check out the following comparison.
Templates for invoices help you save time
The convenience of use, the time saved, and the flexibility to send out several invoices at once are just a few of the benefits of utilising an invoice template to guarantee that your clients receive their bills fast and are paid on time.
Invoicing templates generally are easy and quick to use. They’re simple to use, fill out, personalise, and save. If you ever need to create a large number of invoices in one go, having the chance to utilise an invoice template will save you time.
You may save all of your client’s data on the internet with several invoice template companies. This means that everything you have to do when it’s ready to invoice your customer clicks on the customer you want to invoice, so all of their data will be instantly posted onto the invoice. It’s as simple as changing the hourly pricing or service description.
Make sure your invoices are paid on time
You reduce the time it takes for your customer to obtain and submit your invoice by executing your invoicing chores rapidly and easily. A Pay Now button is included in many invoice layouts, allowing your client to instantly engage with the digital invoice and pay the balance. Some themes even recall your client’s payment options, saving you even more time.
You can enable automated notifications for your customers if an invoice has not been paid. Automation has a place at the table when customers enquire about the invoices they already received. You can set up a Facebook chatbot where they can ask the bot different options regarding their invoices, such as whether the last payment has been processed, send them a list of all unpaid invoices, whether the due date can be adjusted and much more.
The Bottom Line
Custom invoice templates are a great way to save money on your invoices, but they also bring the risk that you may miss out on new client opportunities. It’s important to weigh both options before deciding what is best for your company.