Comments on: 10 Costly Money Mistakes Freelancers Should Avoid

By: Liz

Liz — Sat, 19 Jun 2010 18:22:28 +0000

For invoicing, I use Billing Boss which is a online invoicing tool (http://www.billingboss.com). I like it much better than my previous desktop accounting software to create invoices because Billing Boss is much less complicated, simple, and I can create it quickly. I can definitly monitor my unpaid invoices much easily. It’s free and I can currently create unlimited invoices for unlimited customers.

I actually get paid faster now when I send an online payment option when I email my invoices. Customers can just enter in their credit card info at their own time, rather than waiting for an appropriate time to call me with their credit card or dropping a cheque in the mailbox.

Full Disclosure: This author has been compensated by Sage. I am their Social Media Consultant but I was using their product well before they contracted me. They found me when I sent them an email giving suggestions about Billing Boss!

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Fri, 13 Nov 2009 11:34:59 +0000

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By: Lucy Smith

Lucy Smith — Tue, 10 Nov 2009 20:41:53 +0000

I send a statement through my accounting software. Pretty much, it sends them a copy of the original invoice but contains the word ‘overdue’, and I just write a cover letter saying something like ‘Hi XXX, Please find attached the statement for your account. Your attention to the outstanding balance would be much appreciated” – usually that gets a very apologetic response.

I’m not too sure what you do after you get an apologetic response but still no moolah. Get tough I suppose.

By: LaToya Irby

LaToya Irby — Tue, 10 Nov 2009 16:52:04 +0000

I think we have a lot of reasons for not following up on invoices: too busy, giving the benefit of the doubt, trying to be nice. There’s nothing wrong with a gentle reminder. I use something like “Hi. I sent your invoice on 1/15. Do you have any questions about it?” It hasn’t failed yet.

By: Jake P

Jake P — Tue, 10 Nov 2009 13:07:32 +0000

Excellent, excellent list! I’ve been freelance for more than 10 years; some of them I already did before I got into the biz (emergency fund, living under my means), some of them I learned the hard way.

I sometimes lapse on #10, as far as waiting too long to send a reminder on overdue invoices or taking too long to invoice. That has burned me a couple of times, and I only have myself to blame.

And I’ll be honest that I simply don’t budget in any kind of a formal way. Personal preference–your mileage may vary!