How to manage client billing
Any good project manager knows that getting the work done on time and making your clients happy are two high-priority goals. When the project is done, or a milestone is complete, the next important goal is getting through the client billing process in the most efficient manner and getting paid on time!
That’s where FreshBooks can help
After all, they are experts at cloud accounting and the perfection of invoicing!
(Disclaimer: this article contains affiliate links. If you choose to purchase from these links, there is no extra cost to you, and I do receive a small commission. I endorse FreshBooks because I know it works!)
So here’s a cool announcement…
Forecast Income and Manage Workload with Retainers
How to Manage Client Billing – What are “Retainers”?
They’re unlike a Recurring Invoice that just gets automatically sent to a client. Makes for client smart billing!
How to Manage Client Billing – “What do Retainers do for me?”
Retainers go above and beyond to help you:
- Collect recurring client payments in advance
- Track hours against the allotted time
- Forecast monthly income
- Effectively manage project progress and avoid scope creep
- Set clear expectations with clients
- Streamline invoicing
Here’s the “magic” in a nutshell:
Once you create a Retainer, you’ll be able to bill your Client for a fixed amount upfront and then track time towards the Retainer. If by the end of the month, you’ve clocked more hours than the Retainer covered, you can easily bill for that excess time on a one-time invoice.
I hear you – “But why would I use retainers over recurring invoices?”
- They are the all-in-one solution
- Retainers connect your billing, Time Tracking and reporting functions into one, easy tool
- No need for additional apps or wasting time searching through email chains
- Retainers help you run a more profitable business
- Keeps client conversation focused on project work, rather than collecting payments
- Automatically ensures that you’re being diligent about billing and won’t let you leave money on the table
- They’re a simple way to save time billing
- Retainers help you easily transition from one-off projects to steadier sources of income
- Each month you’ll get valuable insights into project trends, time tracking and be able to forecast future profitability
In addition to simplifying your billing and saving you money, Retainers are a critical tool to help you set clear client expectations.
This is awesomely amazing in practice.
Find out more about FreshBooks and Retainers on this FreshBooks Easy Invoicing Page
Here are 2 VERY interesting publications to help you get your invoices paid fast
Spoiler alert: Did you know that 91% of invoices that use certain tricks are paid in full?
- Check out this important report:
2. Here’s a great infographic that walks through writing the perfect invoice:
Why do businesses (think bloggers who make money!) use and LOVE FreshBooks? Here’s what makes them ridiculously happy!
- FreshBooks is simple and intuitive, so you’ll spend less time on paperwork and wow your clients with how professional your invoices look.
- FreshBooks gives you the power to automate tasks like invoicing, organizing expenses, tracking your time and following up with clients in just a few clicks.
- FreshBooks lives in the cloud so you can securely access it from your desktop, phone and tablet wherever you are.
For you bloggers who are self-employed:
- Stop wasting precious time. FreshBooks makes invoicing painless and expense tracking simple.
Do you manage an Agency, Firm or Consultancy?
- You need accounting software that lets you focus your attention on what matters most. With FreshBooks, you’ll save valuable time that you can spend wowing your clients and growing your business.
- Your team relies on you, FreshBooks is the perfect solution to enable you !
Now you have the facts, GO CREATE A PERFECT INVOICE!
How to manage client billing, it’s all there in your hands, with FreshBooks.
P.S. for more awesome stuff, see my Resource page