5 Things you need to know about compliance with freelancer laws
If your company relies on a mix of full-time staff and freelancers, here's what you need to know about navigating compliance with freelancer laws.
Creating, sending, and processing invoices is an essential part of most businesses’ finances.
A properly designed invoice helps you get paid on time, provides legal protection for you and your client, and validates your company’s revenue. Using software to generate invoices online makes life easier and reduces the potential for costly human error.
Manually generated invoices can often include errors, lead to late payments and ultimately undermine your business’ chances of success. Consistent cash flow is necessary to cover basic overhead costs such as paying employees and purchasing supplies, so past due payments may create significant problems.
Yet, 30% of small businesses experience direct negative impact from late payments, with 10% written off as bad debt. This causes them to spend an average of 130 hours chasing late payments.
Invoice software enables businesses to manage billing and payments for products and services.
With online invoicing software, you can easily create, edit and send invoices from anywhere, at any time to customers and clients. Invoicing software can also remind customers and clients about upcoming payment deadlines.
Plus, business invoicing software makes payment tracking easy, so you always have real-time information about your finances and cash flow.
An automated billing system promptly sends and tracks invoices for your business and reduces the risk of late or missed payments.
Invoice software is important for businesses that value professionalism, reconciled accounts, and prompt payments.
Companies that don’t use invoice or online billing software will find it challenging to manage cash flow.
Manual billing systems are inefficient and lead to higher operating costs, impacting profitability and payment processing. They're also less efficient for clients and customers.
Whether you’re a law firm routinely invoicing clients or a small business that needs to create a one-off invoice for a distributor, software for creating invoices will save your business time and money.,
Tsue Chong Company
If your company relies on a mix of full-time staff and freelancers, here's what you need to know about navigating compliance with freelancer laws.
Here's a look at how the circular economy is impacting manufacturers and the technology they will need in order to address this challenge.
In our Your Story series, we speak to business owners about the challenges they’re facing and the steps they’re taking to overcome them. Shayna Chapman, CPA, founder and chief strategist at Shaynaco, shares how her accounting firm is moving forward as the economy reopens and gives advice to small businesses during these unprecedented times. Shayna […]