There are many errors and blunders that companies make when they are doing business. These mistakes include; making superfluous alterations, employment of wrong staff, mismanagement in handling accounts, borrowing more than needed, advertizing too much, not paying attention to the clients and customers; and most importantly not looking in detail the invoices of your company.
Improving B2B Wholesale Invoicing:
Many problems can emerge if the B2B Wholesale Invoicing is not managed properly. But there are ways by which you can make the whole procedure better and advance. Invoices are basically a receipt that the businesses send to the customers so that they can receive payments for the things and services they have bought. Below are the five ways by which improvements can be made.
Have a Proper System:
Manual is written and distribution of invoices has a lot of hurdles and problems. These problems will be discussed later but the only solution for this is to introduce a management system that can handle everything by just clicking one button. All of the information is pre-installed and only the administrator has to press one button and all of the invoices are sent to the designated clients.
Sometimes the simple filling of the invoicing can be a tough job and can need a team of people. It is better to involve some of the staff that you have. Train them in this department so that they can do the task whenever it is required.
Divide the Whole day:
If there is an urgent need of sending all invoices in one day then it is wise to divide the whole work throughout the day. Have the invoices that are not big sent first; then those which have three to four items and in the end invoices with details.
For those clients who order fixed items with permanent quantity; making new invoices every time is not necessary. The companies can make a single invoice and choose the option of automated sending. This will improve the invoice sending and improve efficiency.
Have defined reports:
The invoices that you send must have a clear text and explanation of the items purchased; total amount and the number of items must be mentioned. The terms and conditions of payment, purchasing details, reordering and return policies is a must be disclosed.
Sending Invoices as soon as possible:
Many companies are in a habit of not sending invoices on time. But a way to improve invoicing is to send it when the job is immediately done. Any delay in sending will be bad for the business as on several occasions wrong invoices have been sending to customers.
When you associate your business to an online platform such as Order Circle then all of the problems are taken care for you by the management.
Avoid these Invoicing Mistakes:
There are numerous mistakes that companies can make when handling invoices for different clients and customers. It is very important to point them out to make the smooth running of the administration possible.
Incorrect writing of invoices:
The very first mistake that the businesses make is that they are not being very careful in filling the invoices. At several occasions, the employees are no concentrating on their work and they fill the wrong information in the invoice. A special member of the staff must be appointed to keep a check on the filled invoices.
Afraid to Send to Clients:
Sometimes the companies are afraid to send invoices to customers for the very first time. This is because the businesses can write wrong invoices. This point is directly related to the first one. This being afraid delays the sending and complications develop.
Not Entering Specific Details:
There are specific details and information that have to be carefully entered in the invoice. This data includes; the personal data of the clients, the total amount to be paid, and the quantity ordered must be written accurately otherwise you will be in big trouble.
No Use of Courtesy Words:
You must be thinking that who uses courtesy words in invoices? But it is really important that you put in words and phrases like “thank you for your time”, “it’s a pleasure” and especially using “please” will increase your popularity. Many companies don’t bother about it and decrease their sales.
Add Hidden Fees:
The businesses make a huge blunder of not mentioning any charges that they want to charge further. In the final version of the invoice, the companies enter more amount than they originally demanded.
Invoice having Mistakes:
If you were a client before then you must have noticed that you received an invoice with a lot of general mistakes. The reaction you had at that time will be the same for clients if you as businessmen send invoices with blunders. This will show you as a fraud or a company that doesn’t know how to do business.
Payment Method not included:
A final mistake that B2B Wholesale Invoicing has is that at many instances the ways by which the clients have to pay is not mentioned at all. It becomes very frustrating for the customers not to have options for payment methods.