![]() The first step is to speak to the client, before then following up with more formal and legal action. This could result in the client claiming a breach of contract. Do not simply down tools and march off the client site demanding payment. It is important to follow the correct late payment process if invoices have not been paid. Make sure you address any late payment concerns early, because they can often signal that the client is having cash flow problems, which could lead to non-payment, which is far more expensive to you than just being paid late! If you do not get paid by the due date and invoices remain unpaid for more than 30 days then you have the legal right to charge interest on the money for Late Payment. Ensure you take a copy of the timesheet before sending it in! Most agencies and clients require a timesheet to be signed and a copy included with the invoice. This creates a PDF file from any application which can then be emailed to the client. There is a free PDF creator which you can use at PrimoPDF. If you are permitted to submit your invoice via email then it is useful to convert the invoice into PDF format so that it cannot be altered. Your agency or client will specify how they would like to receive the invoice. Payment should be made within 30 days by money transfer only to the following account: If you wish to only be paid by money transfer then use the following: ![]() Most agencies and clients do not pay via cheque and choose money transfer. Payment should be made within 30 days by cheque or money transfer.Ĭheques should be made payable to ‘My Company Ltd’. Specify how you would like to receive the money. The VAT amount, if you are VAT registered.The name of the agency, or client if contracting directly. Due date: the date by which payment should be made.Using three placements for the numbers will ensure they sort in date order. For the BBC you could use BBC001 and BBC002. A common method is to prefix invoices with letters that indicate the client.įor example: If you provided services for IBM and the BBC, for IBM you could use IBM001 and IBM002, etc. Although is called a number it can include letters. VAT registration number (if VAT registered)Įach of your invoices should have a unique invoice number.Company telephone number and email address.The following information should be included on all your invoices: These are all included on our invoice templates at the bottom of this page. Here is a list of the legal requirements for invoices in the UK. If you are just starting out and haven't yet chosen your accountant them please consider our chosen accounting partner who we recommend for providing specialist accounting services for contractors and small business. One of these steps will be to set up your accounts online using one of the popular cloud based systems like FreeAgent or Xero. Your chosen accountant will be able to guide you through our 10 easy steps to setting up your company and getting started. Most contractors will choose an accounting firm who specialises in the contracting industry - see our 10 tips for choosing an accountant. Gone are the days when you need to use spreadsheets or type invoices out in Word. Whilst we have provided you with templates in Word and Excel below, the accounting system you use should do all of this automatically for you. If the client or agency refuses to pay then you have to follow the correct late invoice payment process to collect your debts and the money owed to you. And if you don't get paid then you will need to chase payment. Once you've then sent the invoice you will then have to wait normally up to 30 days to get paid. This guide explains exactly how to prepare an invoice with an example, together with links to our free and fully editable invoice templates in both Microsoft Word and Microsoft Excel format. If you are using a limited company as your payment structure you will need to send invoices to your clients for the services you have provided, normally on a monthly basis, and sometimes weekly.
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