And you certainly can’t expect to receive a late fee without clearly stating that there will be an additional charge for delayed payment. You can’t assume that the customer will pay you without sending an invoice. If payment isn’t received, a follow-up invoice will include the late fee as part of the total cost. After all, you can include notification of a late fee, which can be a flat rate or a percentage of the project cost. It notifies the customer that it’s time to make payment, and it also notifies them what happens if they don’t pay. If you're self-employed, you can take advantage of self employment tax deductions to lower your taxable income and increase your profits. It’s important as part of running your business, especially at tax time. It establishes a record of work completed and payments rendered. It also creates what’s called an account receivable, which is part of the bookkeeping and accounting of your business. It’s true that it establishes an obligation on the part of the client to pay you for services it’s a verification of the agreement that you have reached when bidding on the work or agreeing to a contract. What is an invoice used for? An invoice is much more than a document that tells the client it's time to be paid.

Provide clarity to your client, communicating the work completed and the payment due for that work.

Add your business brand to the invoice.Create a numbering system that allows you to track what’s been paid and what hasn’t been paid.

Save you time by creating a reusable document.

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