A few weeks ago in the Details University blog series we talked about payment processing fees, how to apply them, and some general best practices. This week we're going to pick up in the same general area and go over payment schedule and invoicing best practices. Exciting stuff!
When you're first setting up your Details Flowers account, it's important to carefully review and configure all of your company settings, but setting your payment schedule to accurately reflect your expectations and policies is super important for a variety of reasons.
It's going to save you time down the road so you're not having to set a schedule for each event, but more importantly it’s going to set the right expectations for your clients every time. Making clear what you expect to be paid and when is good for everyone, and it’s an essential part of running a professional business!
If you haven't done it before, check out the 'Financials' page of your company settings and set up a payment schedule. If it's been awhile since you set up your account, it never hurts to review your settings to ensure they're exactly what you want.
Check out this Support Center article for more information: How do I set up my default financial settings?
While payment schedules are a must, the invoicing is optional (but we highly recommend it!)
With the Details Invoicing through Stripe you can schedule invoices to automatically be sent to your clients based on the payment schedule you’ve set up. That means your clients will get an email just prior to the due dates you scheduled, leaving the bill collecting to Details and allowing you more time to do what you love: design!
Similar to the payment schedules, this is something you can do that will save you time and set the right expectations for your client.
Once you've created an event and confirmed that the payment schedule is accurate, head to the 'Invoicing' page of the event (found under 'Financials') to enable the auto-sending invoices. Keep in mind that this option won't be available until you sign up for a Stripe account.
If this sounds like a good option for you, check out this Support Center article: Using Details Invoicing
While we all love designing, business is ultimately about making money and it's our mission to help you do just that! Setting up a payment schedule, using automated invoicing, and properly applying processing fees are all important parts of running a professional and financially-savvy business. Feel free to bookmark the Support Center articles we've included in this blog and the previous Details University installment as references, or reach out to our Support team at firstname.lastname@example.org with any questions you have about using these awesome features!