INVOICE FACTORING TIPS FOR A SOLID TRUCKING INVOICE

Most trucking businesses use bookkeeping programs that effectively enable them to design their company’s invoice within minutes. Simply put in some key data, drop your logo onto the invoice and you’re ready to send. Be that as it may, some bookkeeping programs may not walk you through the fundamental components that should be included. Having detailed, accurate information ensures your company’s invoices can be tracked, thus increasing the chances of a customer paying on time. Below, we'll explore invoice factoring tips for writing a solid trucking invoice.

Invoice Factoring Tips for Invoices

Whether you’re leveraging a service like freight factoring or not, creating solid trucking invoices is essential for timely payments. Knowing how factoring companies approve invoices and what they’re looking for allows you to ensure your processes are airtight. Let’s take a look at the core components.

Company Logo

A company logo or letterhead gives your invoice an official look, plus helps ensure your customer recognizes who’s sending the invoice. Be sure to include the words “invoice” or “bill” at the highest point of the invoice, too.

Contact Info

When drafting an invoice, include your company’s full name, address, email, and phone number. You’ll also want to include the name and contact information of your client. To avoid payment delays, take the time to ensure this information is for the actual person who will be processing the payment.

Invoice Number

An invoice number helps you to reference and track the invoice for bookkeeping purposes. When a client makes a payment, you can also ask them to reference the invoice number so each of you can keep an accurate, up-to-date record of the transaction.

Invoice Due Date

Always include the invoice date and due date when drafting an invoice. These dates provide your client with important information concerning how long they have to make the payment. Depending on your agreement, this time frame can range from 30 to 60 days after a service has been completed.

Work Description

Include a full work description of the services provided so that it’s easy for your customer to understand when they receive your invoice. Avoid using abbreviations or industry shorthand.

Payment Details

When preparing your invoice, clearly list the load number, pickup and delivery locations, dates, and total miles driven. Break down your charges, including line-haul rates, fuel surcharges, and any accessorial fees, such as detention or layover. This makes it easier for brokers and shippers to process your payment quickly.

Invoice Total

At the end of your payment details, make sure the total price is displayed prominently at the bottom of your invoice.

Method of Payment

Last but not least, outline the different methods of payment you accept, along with any payment terms you’ve agreed upon.

Streamline Your Payments with Factoring

At Authority Express, our mission is to be your one-stop shop for everything your trucking business needs. Whether you need help with trucking compliance or want to accelerate your cash flow with trucking factoring, we’ve got you covered. To learn more or get started, connect with us.

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