{"id":85841,"date":"2023-12-07T14:37:48","date_gmt":"2023-12-07T22:37:48","guid":{"rendered":"https:\/\/honeybook-blog.site.strattic.io\/?p=85841"},"modified":"2023-12-19T12:20:10","modified_gmt":"2023-12-19T20:20:10","slug":"what-is-an-invoice","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/what-is-an-invoice","title":{"rendered":"What is an invoice? Learn to bill clients and get paid\u00a0"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><em>If you\u2019re a new business owner or just starting to develop more processes, you might be wondering: \u201cWhat is an invoice?\u201d, and \u201cWhy is it necessary?\u201d Without one, you\u2019ll risk a poor client experience and less protection against nonpayment. Here\u2019s everything to know about using invoices to bill your clients.&nbsp;<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"793\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-1024x793.jpg\" alt=\"Woman sitting on the floor creating invoices\" class=\"wp-image-85842\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-1024x793.jpg 1024w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-300x232.jpg 300w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-768x594.jpg 768w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-1536x1189.jpg 1536w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>When you work for a large company, ideally, you\u2019re trained to do your job well. And if you make mistakes, there are protections in place. You\u2019re not going to go home without pay because you forgot to send a bill on time (though you might deal with a stressed-out boss).&nbsp;<\/p>\n\n\n\n<p>The stakes are different for independent business owners. You already know that if you don\u2019t work, you don\u2019t get paid. You can\u2019t \u201cphone it in\u201d when you have a migraine the way you might have been able to at a traditional 9-to-5 job. But even more challenging than this is the reality that if your clients don\u2019t pay you,&nbsp;<em>you don\u2019t get paid<\/em>.&nbsp;<\/p>\n\n\n\n<p>Chasing clients down in small claims court can be a difficult process, and&nbsp;<a href=\"https:\/\/www.civillawselfhelpcenter.org\/self-help\/small-claims\/overview-of-small-claims\/215-overview-of-small-claims\">it only works if you can prove your case<\/a> to a judge. And \u2014 as difficult and technical as it can be \u2014 keeping good records with invoices is one of the best ways you can protect yourself against non-payment. They help both you and your client stay accountable, ensure cash is flowing properly, and keep working relationships healthy.&nbsp;<\/p>\n\n\n\n<p>But <a class=\"wpil_keyword_link\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/what-is-an-invoice\" target=\"_blank\" rel=\"noopener\" title=\"what is an invoice\" data-wpil-keyword-link=\"linked\">what is an invoice<\/a>? How do you know&nbsp;<a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/how-to-send-an-invoice\">how to send an invoice<\/a> and if you\u2019re creating and sending them correctly? And how can you use invoices to make record-keeping easy and receive that all-important paycheck that you\u2019re working hard for? We cover all of that and more in this guide for independent business owners.<\/p>\n\n\n\n<p><strong>Jump to:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"#definition\">What is an invoice?<\/a><\/li>\n\n\n\n<li><a href=\"#invoice-receipt\">Invoice vs. receipt: what&#8217;s the difference?<\/a><\/li>\n\n\n\n<li><a href=\"#importance\">Why are invoices important?&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"#contents\">What do you need to include in your invoices?&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"#types\">What are the different types of invoices?&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"#paid\">How to ensure your invoices get paid<\/a><\/li>\n\n\n\n<li><a href=\"#FAQ\">Invoicing FAQs<\/a><\/li>\n\n\n\n<li><a href=\"#get-started\">Start using invoices to improve payments and client relations today<\/a><\/li>\n<\/ul>\n\n\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"90564\" class=\"elementor elementor-90564\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-2237b60 e-con-full cta_click e-flex e-con e-parent\" data-id=\"2237b60\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t<div class=\"elementor-element elementor-element-a763669 e-con-full e-flex e-con e-child\" data-id=\"a763669\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-acab07b elementor-widget elementor-widget-image\" data-id=\"acab07b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"470\" height=\"426\" src=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-black.png\" class=\"attachment-medium_large size-medium_large wp-image-88431\" alt=\"\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-black.png 470w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-black-300x272.png 300w\" sizes=\"(max-width: 470px) 100vw, 470px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-711ec11 e-con-full e-flex e-con e-child\" data-id=\"711ec11\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1504169 elementor-widget elementor-widget-heading\" data-id=\"1504169\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Create a professional invoice for free.<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea01bef elementor-widget elementor-widget-text-editor\" data-id=\"ea01bef\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Customize, download, and send a professional custom invoice in minutes.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6939b6e elementor-widget elementor-widget-button\" data-id=\"6939b6e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/invoice-template?utm_source=blog&#038;utm_medium=cta&#038;utm_campaign=invoice_gen&#038;utm_id=070323_3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Create an invoice<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\n\n\n<span id=\"definition\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is an invoice?&nbsp;<\/strong><\/h2>\n\n\n\n<p>An invoice is a document that you use to bill your clients. Just like how the bill at a restaurant itemizes everything you ordered, tallies up the costs, and provides a total, an invoice itemizes the products or services you provided for a client, tallies up the costs, and provides a total amount of money due.\u00a0<\/p>\n\n\n\n<span id=\"invoice-receipt\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\">Invoice vs. receipt: what&#8217;s the difference?<\/h2>\n\n\n\n<p>Invoices are official requests for payment. They are issued by a business to its client before or after goods or services are provided. An invoice typically details the quantity and cost of services provided, along with the total amount due, invoice payment terms, and a due date.<\/p>\n\n\n\n<p>Some key characteristics of invoices are that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>They&#8217;re issued before payment is received.<\/li>\n\n\n\n<li>They include details about goods or services provided.<\/li>\n\n\n\n<li>They contain a breakdown of costs.<\/li>\n\n\n\n<li>They offer additional information about payment terms.<\/li>\n\n\n\n<li>They contain contact information for both a client and a business.<\/li>\n<\/ul>\n\n\n\n<p>Receipts, on the other hand, are documentation of received payments. They are issued after the payment has been made and serve as proof of a completed transaction. A receipt usually contains information similar to that on the invoice but confirms that the payment has been made and the transaction is complete.<\/p>\n\n\n\n<p>Distinct features of receipts are that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>They&#8217;re provided after payment is complete.<\/li>\n\n\n\n<li>They act as proof of payment.<\/li>\n\n\n\n<li>They contain a breakdown of the transaction, similar to an invoice.<\/li>\n\n\n\n<li>They do not usually contain the client&#8217;s contact information.<\/li>\n<\/ul>\n\n\n\n<span id=\"importance\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why are invoices important?&nbsp;<\/strong><\/h2>\n\n\n\n<p>Bottom line: Professional independent business owners use invoices to get paid. While you might think it\u2019s no big deal to knit a hat, sell it to a friend, and expect them to pay you for it whenever they get around to it, when you\u2019re running your own business, you can\u2019t just expect other people to get around to paying you.<\/p>\n\n\n\n<p>Your clients are just like you \u2014 or, if you\u2019re magically organized, they may be just like your errant brother or cousin. They get busy, and they forget things. While some clients may intentionally try to stiff you on money, others may just lose track of the fact that they owe you.&nbsp;<\/p>\n\n\n\n<p>Invoices serve as an impersonal, unemotional reminder of the contract between you and your clients. Clients expect invoices, so sending an invoice may come off as less aggressive than sending an email that says, \u201cHey, where\u2019s that money you owe me?\u201d And because of this, invoices help you get paid while&nbsp;<em>also&nbsp;<\/em>keeping your clients satisfied with your communication.<\/p>\n\n\n\n<p>Invoices also clarify exactly what clients owe you. If you\u2019re a freelance writer and you charge $0.10 per word, you may know that a client owes you $150 for a 1500-word article. But does your client know that? Are they clear about the expectations of payment for a 1499-word article versus a 1504-word article? Is it the same $150 for the&nbsp;<em>expected&nbsp;<\/em>1500-word article, or do you charge based on&nbsp;<em>exact&nbsp;<\/em>words?&nbsp;<\/p>\n\n\n\n<span id=\"contents\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What do you need to include in your invoices?&nbsp;<\/strong><\/h2>\n\n\n\n<p>Invoices can range from well-organized, online templates in your&nbsp;<a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/\">clientflow management platform<\/a> to Word documents, to simple scraps of paper with information written on them. But for an invoice to be effective, you must provide your clients with a minimum amount of information. This includes:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Your business name and the business contact your client will be working with&nbsp;<\/li>\n\n\n\n<li>Your professional address<\/li>\n\n\n\n<li>Your professional phone number<\/li>\n\n\n\n<li>The invoice date<\/li>\n\n\n\n<li>The name of the person or business you\u2019re charging<\/li>\n\n\n\n<li>The address of the person or business you\u2019re charging<\/li>\n\n\n\n<li>The date the goods or services were provided (or will be provided)<\/li>\n\n\n\n<li>An itemized breakdown of all services rendered and the charges<\/li>\n\n\n\n<li>A net summary of the cost of all goods and services<\/li>\n\n\n\n<li>Taxes, if necessary<\/li>\n\n\n\n<li>The total amount due<\/li>\n\n\n\n<li>Invoice payment terms<\/li>\n\n\n\n<li>The payment schedule and due date<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-columns cta-related-posts is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center left-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<p class=\"related-post-heading\">Related Post<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/invoice-examples-bill-clients\" target=\"_blank\" rel=\"noreferrer noopener\">8 invoice examples to bill your clients<\/a><\/h4>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<figure class=\"wp-block-image aligncenter size-large\"><a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/invoice-examples-bill-clients\"><img decoding=\"async\" width=\"1024\" height=\"793\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples-1024x793.jpg\" alt=\"Two women discuss business at a table.\" class=\"wp-image-85761\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples-1024x793.jpg 1024w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples-300x232.jpg 300w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples-768x594.jpg 768w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples-1536x1189.jpg 1536w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/invoiceexamples.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n<\/div>\n\n\n\n<p>In addition to this necessary information, it\u2019s also a good idea to include an invoice number and details for your clients about how they can pay you. For example, you may write a line at the bottom that says, \u201cChecks should be made payable to ____,\u201d if that\u2019s how you prefer to receive payments. The more clear you can be with your clients, the more likely they are to pay in a timely manner, rather than delaying <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/invoice-payments\">invoice payments<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-ugb-container ugb-container cta-pro-tip ugb-0041221 ugb-container--v2 ugb-container--design-basic ugb-main-block\"><style>.ugb-0041221-wrapper.ugb-container__wrapper{padding-top:0 !important;padding-bottom:0 !important}.ugb-0041221-wrapper > .ugb-container__side{padding-top:35px !important;padding-bottom:35px !important}@media screen and (min-width:768px){.ugb-0041221.ugb-container{padding-top:0px !important}}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-container__wrapper ugb-0041221-wrapper\"><div class=\"ugb-container__side\"><div class=\"ugb-container__content-wrapper ugb-0041221-content-wrapper\">\n<div class=\"wp-block-ugb-columns ugb-columns ugb-c9eef97 ugb-columns--design-plain ugb-columns--columns-2 ugb-main-block\"><style>.ugb-c9eef97 > .ugb-inner-block > .ugb-block-content > .ugb-columns__item{grid-template-columns:0.20fr 1.80fr !important}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-columns__item ugb-c9eef97-content-wrapper\">\n<div class=\"wp-block-ugb-column ugb-column ugb-381f79f ugb-column--design-plain ugb-main-block\"><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-column__item ugb-381f79f-column-wrapper\"><div class=\"ugb-column__content-wrapper\">\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/03\/asset-4.svg\" alt=\"\" class=\"wp-image-83436\"\/><\/figure>\n<\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-ugb-column ugb-column ugb-97eb796 ugb-column--design-plain ugb-main-block\"><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-column__item ugb-97eb796-column-wrapper\"><div class=\"ugb-column__content-wrapper\">\n<h4 class=\"wp-block-heading\"><strong>Pro tip<\/strong><\/h4>\n\n\n\n<p>Providing a simple payment experience can help you get paid faster. Use HoneyBook to combine your invoicing and payment processing, allowing clients to pay as soon as they receive an invoice.&nbsp;<\/p>\n<\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/online-invoices\"><img loading=\"lazy\" decoding=\"async\" width=\"759\" height=\"1024\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit-759x1024.jpg\" alt=\"HoneyBook invoice editor\" class=\"wp-image-91525\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit-759x1024.jpg 759w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit-222x300.jpg 222w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit-768x1036.jpg 768w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit-1138x1536.jpg 1138w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/11\/Invoice-edit.jpg 1208w\" sizes=\"(max-width: 759px) 100vw, 759px\" \/><\/a><figcaption class=\"wp-element-caption\">Editing an invoice inside HoneyBook<\/figcaption><\/figure>\n\n\n\n<span id=\"types\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the different types of invoices?&nbsp;<\/strong><\/h2>\n\n\n\n<p>There are as many as 15 types of invoices in professional settings. But as an independent business owner, there are four main types you need to know to run a successful business: proforma invoices, sale invoices, recurring invoices, and overdue invoices. It\u2019s also important to understand how to invoice <a class=\"wpil_keyword_link\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/retainer-fees\" target=\"_blank\" rel=\"noopener\" title=\"retainer fees\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"3735\">retainer fees<\/a> or deposits. Let\u2019s break down each of these options below.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Proforma invoices<\/h3>\n\n\n\n<p>Proforma means \u201cas a matter of form.\u201d You should provide Proforma invoices to your clients&nbsp;<em>before you provide goods or services.<\/em> They outline the estimated costs for the work you\u2019re about to perform, and they ensure clients really know what they\u2019re paying for to prevent buyer\u2019s remorse down the road.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Sale invoices<\/h3>\n\n\n\n<p>Sales invoices are also referred to as \u201cregular invoices\u201d or \u201ctraditional invoices.\u201d You send these invoices to clients after you provide a good or service (or a group of goods or services) to outline costs.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Recurring invoices<\/h3>\n\n\n\n<p>If you provide a product or service on a consistent basis \u2014 such as a monthly subscription \u2014 you may consider creating a recurring invoice. These include a consistent amount for a set time period and serve as a reminder for your client that their bill is due.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Overdue invoices<\/h3>\n\n\n\n<p>Did you know that&nbsp;<a href=\"https:\/\/sharespace.digital\/blog\/scary-invoicing-stats-you-shouldnt-ignore\">39% of invoices are paid late<\/a>? Overdue invoices are a reminder that your client hasn\u2019t paid. They should clarify that the bill you\u2019re trying to collect is past due. If you have a policy in place for bills that continue to go unpaid \u2014 such as canceling a contract, sending bills to collections, or suing clients in small claims court \u2014 include a polite line at the bottom of all overdue invoices that outlines your terms of payment for unpaid bills.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Retainer fees and deposits<\/h3>\n\n\n\n<p>Sometimes, you\u2019ll want to ask clients for a down payment before you start working. You may do this for all clients, or you may only charge this <a class=\"wpil_keyword_link\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/understanding-retainer-fees-and-how-to-use-them%20\" target=\"_blank\" rel=\"noopener\" title=\"retainer fee\" data-wpil-keyword-link=\"linked\">retainer fee<\/a> or deposit the first time you start working with a client. In either case, you\u2019ll want to send a retainer or deposit invoice. Make it clear what the retainer fee or deposit covers so there are no disputes down the road. For example, if you charge an estimated 50% ahead of time for services, you\u2019ll want to include a line on your invoice clarifying that the retainer fee or deposit covers half of the contracted services.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-ugb-container ugb-container ugb-b31d35c ugb-container--v2 ugb-container--design-basic ugb-main-block\"><style>.ugb-b31d35c-wrapper.ugb-container__wrapper{background-color:#131416 !important;background-image:url(https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Black_CTA_Background.jpg)}.ugb-b31d35c-wrapper.ugb-container__wrapper:before{background-color:#131416 !important;opacity:0}.ugb-b31d35c-content-wrapper > h1,.ugb-b31d35c-content-wrapper > h2,.ugb-b31d35c-content-wrapper > h3,.ugb-b31d35c-content-wrapper > h4,.ugb-b31d35c-content-wrapper > h5,.ugb-b31d35c-content-wrapper > h6{color:#ffffff}.ugb-b31d35c-content-wrapper > p,.ugb-b31d35c-content-wrapper > ol li,.ugb-b31d35c-content-wrapper > ul li{color:#ffffff}@media screen and (min-width:768px){.ugb-b31d35c > .ugb-inner-block > .ugb-block-content > *{padding-top:60px !important;padding-bottom:60px !important;padding-right:60px !important;padding-left:60px !important}}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-container__wrapper ugb-b31d35c-wrapper ugb--has-background-overlay\"><div class=\"ugb-container__side\"><div class=\"ugb-container__content-wrapper ugb-b31d35c-content-wrapper\">\n<h2 class=\"wp-block-heading has-white-color has-text-color\"><strong>Download free invoice templates<\/strong><\/h2>\n\n\n\n<p class=\"has-white-color has-text-color\">Take your pick from these invoice templates for a variety of industries. Save time and get paid faster!<\/p>\n\n\n\n<div class=\"wp-block-ugb-button ugb-button-wrapper ugb-4d6aac6 ugb-main-block\"><style>.ugb-4d6aac6 .ugb-block-content{justify-content:flex-start !important}.ugb-4d6aac6 .ugb-button1{background-color:#ffd552}.ugb-4d6aac6 .ugb-button1 .ugb-button--inner,.ugb-4d6aac6 .ugb-button1 svg:not(.ugb-custom-icon){color:#222222 !important}.ugb-4d6aac6 .ugb-inner-block{text-align:left}<\/style><div class=\"ugb-inner-block\"><div class=\"ugb-block-content\"><div class=\"ugb-button-container\"><a class=\"ugb-button1 ugb-button ugb-button--size-normal\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/free-invoice-templates\/\" target=\"_blank\" rel=\"noopener noreferrer\" title=\"\"><span class=\"ugb-button--inner\"><strong>Browse invoices<\/strong><\/span><\/a><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<span id=\"paid\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><strong>How to ensure your invoices get paid<\/strong><\/strong><\/h2>\n\n\n\n<p>Getting paid on time is essential to maintaining a healthy cash flow and business. However, a complicated invoicing system can delay payments. To make sure you&#8217;re getting paid in a timely fashion, consider ways to make&nbsp;<a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/invoicing\">invoicing<\/a> easier so you\u2019re more likely to stay on top of the process and your clients are more likely to pay their bills.<\/p>\n\n\n\n<p>Using invoicing software to create digital invoices is one of the best ways to simplify this process. With the right tool, you can take the pain out of creating invoices by offering:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Easy invoice creation<\/strong>: Quickly generate digital invoices using pre-set <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/invoice-template\">invoice templates<\/a>, saving time and effort.<\/li>\n\n\n\n<li><strong>Instant delivery<\/strong>: Send invoices electronically and directly to clients&#8217; emails, speeding up the payment process.<\/li>\n\n\n\n<li><strong>Payment tracking<\/strong>: Easily track and organize invoices by status so you can see which clients still need to pay.<\/li>\n\n\n\n<li><strong>Automated reminders<\/strong>: Automatically send <a class=\"wpil_keyword_link\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/payment-reminders\" target=\"_blank\" rel=\"noopener\" title=\"payment reminders\" data-wpil-keyword-link=\"linked\">payment reminders<\/a> for approaching due dates or payments that are past due.<\/li>\n\n\n\n<li><strong>Multiple payment methods<\/strong>: Invoicing software often accepts multiple payment methods, making it easier for clients to pay how they want.<\/li>\n\n\n\n<li><strong>Real-time updates<\/strong>: Receive instant notifications when invoices are viewed or paid, keeping you updated on payment statuses.<\/li>\n<\/ul>\n\n\n\n<p>Using invoicing software allows you to implement invoices in short order without adding much work to your day-to-day tasks. In fact, you may find that, once you start using software, you actually spend\u00a0<em>less\u00a0<\/em>time <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/process-for-collecting-payments\">collecting payments<\/a> because you don\u2019t need to search through your checking account to see which of your clients paid, track down nonpayments yourself, or manually send countless email reminders to clients about their unpaid bills. The best software does all the hard work for you.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/online-payment-software\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-1024x1024.png\" alt=\"HoneyBook payment processing\" class=\"wp-image-91915\" style=\"width:700px\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-1024x1024.png 1024w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-300x300.png 300w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-150x150.png 150w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-768x768.png 768w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-1536x1536.png 1536w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing-500x500.png 500w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/HoneyBook-Payment-Processing.png 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">HoneyBook payment processing<\/figcaption><\/figure>\n\n\n\n<span id=\"FAQ\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\">Invoicing FAQs<\/h2>\n\n\n\n<p>Is an invoice proof of payment?<\/p>\n\n\n\n<p>No, an invoice is a request for payment. After payment is received, a receipt is the proper proof of payment.&nbsp;<\/p>\n\n\n\n<p>Is an invoice a bill?<\/p>\n\n\n\n<p>Yes, an invoice is essentially another name for a bill. It itemizes goods or services and requests payment for them.<\/p>\n\n\n\n<p>Are invoices legal documents?<\/p>\n\n\n\n<p>That answer is more nuanced than you might think. Sending an invoice requesting payment doesn&#8217;t necessarily make it a legal contract. However, depending on the state, it can be a legally binding contract <a href=\"https:\/\/www.dgs.ca.gov\/en\/Resources\/SAM\/TOC\/8400\/8422-050\">if both parties consent to its terms<\/a>. If you intend your invoices to be legally binding, you should consult a lawyer in your area.&nbsp;<\/p>\n\n\n\n<p>When should I send an invoice?<\/p>\n\n\n\n<p>Typically, an invoice is sent after services have been rendered. However, the timing can also depend on the agreement or terms of service established with your client. For larger projects, some businesses will send invoices before a service or product is delivered to ensure that the client agrees to the prices and terms.&nbsp;<\/p>\n\n\n\n<span id=\"get-started\"><\/span>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Start using invoices to improve payments and client relations today<\/strong><\/h2>\n\n\n\n<p>Invoices aren\u2019t about being super technical. They\u2019re about safeguarding your time and your business. By implementing a system for invoicing your clients, you acknowledge the reality that your job matters and that getting paid is a priority.&nbsp;Professional invoice services can make it easier for you tracking orders,&nbsp;<a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/process-for-collecting-payments\">collecting payments<\/a>, and sending reminders, so you don\u2019t get bogged down with invoices and can continue dedicating your time to the job you love.&nbsp;<\/p>\n\n\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"87968\" class=\"elementor elementor-87968\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-dac798c e-con-full cta_click e-flex e-con e-parent\" data-id=\"dac798c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t<div class=\"elementor-element elementor-element-de91322 e-con-full e-flex e-con e-child\" data-id=\"de91322\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1384022 elementor-widget elementor-widget-image\" data-id=\"1384022\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"489\" height=\"689\" src=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-yellow.png\" class=\"attachment-medium_large size-medium_large wp-image-87974\" alt=\"\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-yellow.png 489w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/07\/cta-invoice-banner-yellow-213x300.png 213w\" sizes=\"(max-width: 489px) 100vw, 489px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-82f6049 e-con-full e-flex e-con e-child\" data-id=\"82f6049\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-93d6fc0 elementor-widget elementor-widget-heading\" data-id=\"93d6fc0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Fast, reliable payments<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7f77762 elementor-widget elementor-widget-text-editor\" data-id=\"7f77762\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">90% of HoneyBook invoices are paid on time or early.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f99841 elementor-widget elementor-widget-button\" data-id=\"1f99841\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/signup\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re a new business owner or just starting to develop more processes, you might be wondering: \u201cWhat is an invoice?\u201d, and \u201cWhy is it necessary?\u201d Without one, you\u2019ll risk a poor client experience and less protection against nonpayment. Here\u2019s everything to know about using invoices to bill your clients.&nbsp; When you work for a [&hellip;]<\/p>\n","protected":false},"author":850,"featured_media":85842,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,545],"tags":[417,492,407,477],"class_list":["post-85841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-best-practices","category-mobile-app","tag-billing","tag-business-tools","tag-invoice","tag-payments"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature.jpg",2000,1548,false],"thumbnail":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-150x150.jpg",150,150,true],"medium":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-300x232.jpg",300,232,true],"medium_large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-768x594.jpg",768,594,true],"large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-1024x793.jpg",1024,793,true],"1536x1536":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature-1536x1189.jpg",1536,1189,true],"2048x2048":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/what-is-an-invoice-feature.jpg",2000,1548,false]},"post_excerpt_stackable_v2":"<p>If you\u2019re a new business owner or just starting to develop more processes, you might be wondering: \u201cWhat is an invoice?\u201d, and \u201cWhy is it necessary?\u201d Without one, you\u2019ll risk a poor client experience and less protection against nonpayment. Here\u2019s everything to know about using invoices to bill your clients.&nbsp; When you work for a large company, ideally, you\u2019re trained to do your job well. And if you make mistakes, there are protections in place. You\u2019re not going to go home without pay because you forgot to send a bill on time (though you might deal with a stressed-out boss).&nbsp;&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/category\/business-best-practices\" rel=\"category tag\">Business best practices<\/a>, <a href=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/category\/mobile-app\" rel=\"category tag\">Mobile App<\/a>","author_info_v2":{"name":"Cait Carter","url":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/author\/cait-carter"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is an Invoice and Why Is It Crucial for Business?<\/title>\n<meta name=\"description\" content=\"What is an invoice? Why is it important? Find out how invoices help you get paid faster.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/what-is-an-invoice\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is an Invoice and Why Is It Crucial for Business?\" \/>\n<meta property=\"og:description\" content=\"What is an invoice? Why is it important? 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