VO-BB - 19 YEARS OLD!

[richvoice]

I'm right there at 30-45 days as well. With this client that I had last year, just over a month after I sent the first invoice (which was several weeks after I completed the work) I sent a follow-up email saying I just wanted to make sure the invoice didn't "fall through the cracks" or "lost in the shuffle" or something to that effect. Again a month later. Again a month later. A phone call a month later. I was about to just write it off when I got the check.
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Cheers,
Rich
http://www.richvoiceproductions.com
@RichMillerVO

[HeatherMasters]

The information you guys have given in this thread is priceless! Thank you for the tips on keeping track of things. My way of accounting is pretty appalling, so having practical methods of accountability spelled out for me is so helpful! One more question that has come to mind, is, how do you make it easy to accept payments. Really, so far, I have just used paypal, but the fees are starting to feel painful once a job hits a certain price point. For my last client, I put a note on the invoice saying "My preferred method of payment is just a good old fashioned check in the mail, but if that's an inconvenience, feel free to use paypal at..."

Is this hokey? Is there another option besides paypal for easy payments?
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Heather

www.heathermastersvo.com

[Scott Pollak]

Obviously a check is great, but it takes time for it to get to you.
All of my overseas clients pay either via PayPal or direct wire transfer.
I can also accept Amex (which is how Xerox pays me) thru PayPal.
Pandora pays directly into my business account every Friday via direct deposit, which is AWESOME!

Some people freak out over wire transfer since the client has all of your account info. This is why I have a totally separate business account set up solely for client payments. The minute I see money in there, I transfer it over to my personal account. Then, if anyone wanted to try to raid my business account, all they'd get is maybe 20 bucks. And so far, after about 8 years, no one has ever tried to do that.
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Scott R. Pollak
Clients include Pandora, NPR Atlanta, Wells Fargo, Cisco, Humana, Publix, UPS, AT&T, HP, Xerox and more.

www.voicebyscott.com

[Matto]

Wave Accounting is a solid finance platform and it is free. You can use it to receive credit card and PayPal payments.

There is also a feature that sends automatic invoice reminders (7 days late, 14 days late etc.) if it suits you.

I used it for quite a few years and then switched to Xero Accounting this year.

It will also show you on the dashboard view which invoices are overdue and how much is outstanding.

For anyone is who is just starting to build their business, I can't say enough how useful it is to get setup with a simple, effective accounting software in the early days. Again, there are FREE ones. Doing this at the start means you don't have to backtrack and port clients/records across as things pick up.

I also use Zoho CRM for project logging and tracking.
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www.mattcowlrick.com

[Dayo]

The only thing I would add to these excellent replies is to get your invoice out quickly after the job is done. If you leave it for a few weeks that sends a very unhelpful signal. Same goes for statements/reminders.
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Colin Day - UK Voiceover
www.thurstonday.co.uk

[FinMac]

Here in Finland bills are usually due 15 days after receipt. So that is how I bill.

All payments, except for American clients, are direct bank transfers. Never had a problem with that. Paypal always takes a bite out of what I receive, but bank transfers never do. No excuses about the check being in the mail!

Sometimes clients are a little slow to pay and occasionally I will send a friendly reminder.

What helps me is a program called Billbooks. I create my invoices through it and send them directly from the program by email. It shows me the status of each unpaid bill , and shows me how much I have billed over the year, or quarter.

It costs me 20 cents per invoice and IMHO it is well worth the price. It also sends out thank you email notes to the client when I update the system to show that I have been paid.
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www.scottsvoiceover.com - An American voice in Finland

"If you want to get to the top, you have to get off your bottom". (Unknown)

[Lance Blair]

In the US you can deduct your PayPal fees for taxes.

Saying this, I just realized I sent my taxes off yesterday and didn't deduct them this year! Sheeeeesh. *headdesk*

My bank takes nasty sized fees for international transfers. YMMV.

One thing I like about generating invoices from within PayPal is that some customers in countries where transfers or PayPal can be dicey can pay with their credit card that way. It usually takes 48 hours to clear, but they almost always pay immediately when given that option.
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Skype: globalvoiceover
and now, http://lanceblairvo.com the blog is there now too!

[paulstefano]

[ConnieTerwilliger]

For US PayPal transactions, you can opt for the .50 transaction fee. I use Freshbooks and this is one of the PayPal payment options. International payments can't use that fee.

And yes - keep track of the fees and deduct on your Schedule C.

As for reminder notices. this is one of my peeves with Freshbooks, you can only set one time for reminders instead of being able to set it for each client.
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Playing for a living...
www.voiceover-talent.com
YouTube Channel: http://youtube.com/connieterwilliger

[Jeffrey Kafer]

[HeatherMasters]

Again, this thread is gold. Thank you all so much!

I'm going to look into Wave accounting and Billbooks. I wish I would have thought to ask this a while ago. My taxes wouldn't have been such a pain in the butt to sort out.

Looking forward to bringing order to my chaos
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Heather

www.heathermastersvo.com