The importance of invoicing on time
As a construction professional, you are obliged to provide your client with an invoice on time. Of course, this sounds logical, and actually quite nice in itself, because after all, you get paid after your invoice.
In any case, that is the normal way of doing things anyway. Unfortunately, in the construction industry, we all face discussions or late payments from time to time. We don't have to tell you how annoying this can be....
Don't lose sight of an invoice
In some cases, you can avoid these problems by invoicing on time, with the necessary transparency and clarity. Correct invoicing can help you get paid more quickly and easily for the works you carried out.
In practice, however, we often see that the preparation of invoices often takes (too) long. We regularly see the same reasons recurring.
Lack of time is often cited as the main reason, but invoices are also sometimes simply forgotten. It is therefore not always easy to keep an overview, especially when you finish or start several projects simultaneously.
All understandable reasons of course, but this does not alter the fact that your invoices really need to be sent on time. First and foremost, without an invoice you don't receive any income, your cash-flow may be compromised, and price agreements with your suppliers may lapse.
Avoid fines, send out your invoice on time
If an invoice is only sent some time after the works, your customer may also feel that its payment is not urgent either. An invoice that is also unclear and vaguely drafted can lead to additional questions and possible discussions. All things that cost time and energy you would rather spend on your next projects.
Legally, you are also obliged to deliver your invoice to your customer on time. By law, the invoice must be sent no later than the 15th day of the month following the works.
For VAT administration purposes, the invoice must even be issued within the five working days following the month in which the VAT becomes due, i.e. within the five working days following the month of your performance. If an invoice is prepared late, this can result in a fine of 50 euros per late invoice.
How to draft your invoice?
After all, your original invoice also serves as the basis for possible legal action if your customer does not agree. Invoice transparently, therefore, and never use a date in the past, as this could potentially play into your disadvantage as the issuer of the invoice.
So always make sure you have a clear and well-organised invoice after the work is done, which you can send out easily and as quickly as possible.