If you run wholesale packages or your entire business involves wholesale, you must use a wholesale invoice. Beyond the general use of an invoice to request payments, a wholesale invoice also helps you with other benefits.
Interestingly, even with its benefits, it may be painstaking to create them, and this is precisely why you need invoicing software.
Witham invoicing software, you take out the stress of creating a wholesale invoice and can enjoy making a wholesale invoicing template. It is faster and more efficient.
What is a wholesale invoice?
A wholesale invoice is like every other invoice; only it is made more specifically for wholesale use. Every different invoice template is used to request payment for goods sold.
It may be designed plain or with ample information like payment terms and signatures to make it legally binding.
A wholesale invoice contains information on the seller, the buyer, the items sold, the payment details, and other details. At one glance, you get a full view of the transaction between the buyer and the seller, when the transaction took place, and a concise value of the items sold cost.
Important information found on the wholesale invoice template includes:
Invoice number and date.
Automatically generated by your invoicing software, an invoice number and date can help you differentiate your invoices and help track the invoice.
Depending on what you want, you may issue the invoice number chronologically (unique number of the invoice & date of invoice issue), or you may get creative with the invoice and either issue the invoice number on a project base or specific customer invoice numbering.
Whichever one you choose, you must select an invoice numbering system that works best for you.
Name, Contact information, and address of both the buyer and seller.
With the buyer’s contact information, your invoicing system can stay manageable quickly. This information shows to whom precisely the invoice is being sent.
If you also send an invoice without your contact information, the seller cannot contact you for clarification or payment issues. You must include this information.
Your wholesale invoice template ensures this is included, and you can edit it with your contact information.
Description & total value of goods
The items the client purchases must be listed as clearly as possible. This is particularly important because of the volume of items you have to deal with as a wholesaler. This helps foster a good working relationship with the client, as they don’t think you’re trying to cheat them. It also helps prevent going back and forth and following up on any extra payments due to a wrong list of items on the invoice.
Payment options
You must include a range of payment options. An available range of payment options helps to speed up the time it takes to get paid. With customer-specific customers who may have bought several times from you, you may include their preferred payment method as it gives a personal feel.
Terms of payment.
Payment terms help a business better manage its payment and give the client a proper understanding of the payment and details involved.
Information like payment in advance, cash in advance, late fees, and payment details, amongst others. These terms ensure that you get your payment as when due, allow for better forecasting and help improve your relationship with your customers.
Legal information
Personalized message to your client
This can take your relationship with your clients from 0-100. With fun personalized messages to your clients, you show them a more personalized feel which may be rare. You can also add discounts and promotions you think they are interested in here.
Taxes, freight charges, insurance, and other charges.
Freight charges and insurance specifically have to do with international shipping arrangements. More specifically, they are charged for goods transported by waterway, sea, or ocean.
Usually, the seller pays these while the buyer handles the fees required to clear the goods at the port. Conversations may be had such that the buyer covers both costs and is billed in the invoice.
Tax incurred on the goods should also be included in the invoice.
Signature and exact date of signing the document.
This comes in handy in cases where no terms are detailed in the invoice. This works because the signature makes the document likely to be used as proof and confers some legality on the invoice.
Other information to include in your invoice is Unit price/settlement and payment terms in the currency of payment, net/gross weight of goods, purchase order/reference number, and license information.
Why you should use a wholesale invoice
Track the sales
If you run a wholesale business, you may often lose track of your sales. You may mix items and often need to remember to request payments. You can easily avoid this with a functional wholesale invoice. When this invoice is managed with an invoice template free online, you can easily follow up with payments and orders and organize, manage, record, and track the sales between the purchaser, the seller, or the company.
Proof
With a wholesale invoice, you can create a proof of transaction. Documented and automatically generated with invoice software, you can show the items purchased and the date sent and possibly append a digital signature.
This document comes in handy, particularly when you do not have a contract or any other legal document. Your invoicing software may also generate terms and include them in your invoice to improve the legal standing.
It will show that, indeed, the items were purchased at the agreed prices the purchases were made. In cases where the invoice is sent in response to a request for costs, the invoice serves as proof that an inquiry was made.
Since it is required to complete an order, the invoice offers some protection to them to ensure that you get paid as it stands as proof.
Increased Efficiency
With automated invoicing processes, your business is designed to be more productive and efficient. Since, generally, invoices help you manage the full scope of billing and getting paid, they also increase your cash flow and the accuracy of your billings, as well as improve the auditing of your records.
All of these contribute to the efficiency of the business in general. An invoicing software helps makes your business efficient.
Automate your operations
Invoicing softwares helps create processes for your business and automate them. With invoicing software, you can create a rundown of all the requested products and then automate the sending out, particularly for return customers who want the exact items they had previously asked for. The same applies to automatic payments, where the software can automatically prompt the customer to pay without any assistance from your end.
Simplistic account management
You can easily track payments with all your invoices compiled within one software. You can save time and energy searching out details of previous purchases and easily view them within your invoicing software. Information you need to generally balance your account, calculate tax and keep track of your expenses, you’ll be able to collate with your invoicing software efficiently.
Improves your brand identity
With invoicing software, invoicing software adds the proper branding to your invoice, with a logo, branding, colors, fonts, and a general professional feel that you can use on any invoice template of your choice.
With an invoicing template, you may add personal effects such as a personal note to your clients, your tagline, or even special discounts and prices.
With these, you can also improve your brand identity without compromising the brand feel.
Saves time
An invoicing software saves you time from creating multiple invoices, sending them, following up on them, double checking items sen, calculating their prices based on quantities, etc. With invoicing software, you can create your invoice template, automate their sending and follow-up, and track the payments.
Lightning Fast Payments
With a single click, you can send an invoice to a client requesting payment from them. Additionally, because it contains all the available payment options, the customer can easily pay you.
Reduces errors
Manually sending invoices is prone to multiple errors, but you can easily take care of them with invoicing software.
An invoicing software allows you to make calculations automatically. Instead of estimating the items yourself, the invoicing software does the math for you.
Dates can be automatically filled as well as the invoice number. This accounts for times when you need to remember the number of the last invoice you sent to a customer.
All these and even other errors can be handled easily with invoicing software.
Better documentation
Suppose you are used to issuing physical invoices or just sending them hazardously. In that case, you are very likely to have a poorly documented accounting system, which puts you at risk of losing this accounting information.
With invoicing software, you can easily have your invoices compiled and kept safe since the first invoice was sent. This could be backed up to an external drive or a cloud for even better security.
