Credit where it’s due, this article on invoicing comes courtesy of a Twitter thread lamenting that it can be tough to get streamers to send an invoice to get paid for their work. So, my goal with this is to talk about what an invoice is, why you’d create an invoice, and some places where you can find templates.
What is an invoice?
An invoice is a document you send to a company or individual for whom you did work or to whom you sold a product. It’s your way of putting on paper what they owe you.
It should detail your information (company, contact info), specific identifying information for the invoice like an ID number, information on the buyer, information on the product that was sold (price, quantity, services rendered, etc), and information on payment (when payment is due, the medium of payment), and any notes that might help smooth the process.
Basically, it’s a document that details who sold what to whom for what price and what the expected payment terms are.
Why do I care?
An invoice is your request to be paid and it gives the person paying you the information they need to pay you successfully. If you care about being paid the right amount and on time, then you care about invoices.
Plus, it’s something that makes your life easier as a business owner. If you have a good way to track your invoices then you know what you should expect for income, when you should expect it, and have a list of tasks that can help you with follow up.
It might fall to you or a manager to make sure your invoices are paid on time. However, having an invoice that you sent with the appropriate details means you have a document to point to that makes it harder for buyers (sponsors etc) to ignore you.
Finally, it’s common for a company to not pay you unless they have an invoice. It’s not because of malice on their part. It’s because they’re functional companies that need documentation on what they’re paying for and to whom they paid the money. If you’re not sending an invoice they may literally not be allowed to pay you.
Where can I find invoice templates?
All over the place. Really, it’s pretty easy. Which is good!
First, just Google invoice templates. There are a ton.
Next, PayPal has an invoicing function that you can use. That can be really nice because it ties in to their payment processing so you make it easy to pay you.
Quickbooks has an invoicing function that is convenient because it flows through to their bookkeeping software.
Microsoft Word and Excel have templates.
Finally, you could use this free invoice generator. Seriously, there are a ton of inexpensive or free options.
Conclusion
Creating and sending invoices is an important task as a business owner. If you provide a service or product you want to be paid for you need to keep on top of your invoices. It helps you run your business and get paid and it helps the people you do business with run their businesses well. Everyone wins.
You don’t have to figure this out alone. This is what we do- help streamers make great money and business decisions. If that’s something that sounds interesting to you reach out me or schedule some time for a free consult. You can check out what I do here.
