As a contractor, you may agree that as important it is to make invoices, it is equally important to generate them on time. Well, the good news is that you can make use of easily available contractor invoice templates from CocoSign for your invoice needs and focus on other important tasks.
What is a Contractor Invoice?
Before heading to the contractor invoice, let's get to know what is a contractor? A contractor can be an independent individual, entity, or organization that works on a contract basis for another entity or organization, providing services like business consulting, home remodeling, tutoring services, and more.
Thus, the contractor invoice is an invoice prepared by the contractor that includes the detailed information of the expenses made during the contract.
What Is Included In A Contractor Invoice?
In short, a contractor invoice includes everything that the contractor should take note of while performing the work. Here is what you should include in your contractor invoice.
Start by labeling it as ‘Invoice’
To make things simple for you as well your clients, give a title to your document by writing the ‘Invoice’ on top.
The second important thing that should be included in the contractor invoice is your business's complete information. Add your business logo, your name, address, email id, business website address, and your contact number.
Next, include the complete details of the respective client/customer. It should have basic details like the customer’s name, address, email id, and contact number. But before this, make sure to have the correct billing contact of your customer. If you are dealing with big businesses, chances are they have a separate billing department.
Unique invoice number
Every contractor invoice should also have a unique invoice number. This is helpful for both the contractor and the client. Also, maintaining invoices sequentially makes it easier to find a particular invoice in case of payment issues, and duplicate invoicing.
A contractor invoice also includes invoice date. In certain cases, you will find two dates on top of a contractor invoice, one is the date on which the invoice is sent to the customer, and the second is the date on which the payment is due.
Details of the services
All the services you provide must be properly filed. Along with the brief description of services you provide, you have to add other information related to each of the services mentioned like quantity, price, number of hours worked, and subtotal.
This helps in keeping a good record of each of your services.
Certain contractor invoices also include the necessary information related to payments like accepted payment methods, late fee policy, and such.
Total amount due
A good contractor invoice has this section highlighted and placed at the bottom. This should include the subtotal of the bill, taxes, discount given and the total due amount to be paid by the customer/client.
Mention the payment due date to avoid any sort of confusion.
Other than this, a contractor’s invoice may also contain a note section at the bottom that can be used to communicate any important information.
Why Is A Contractor Invoice Necessary?
A contractor invoice is very necessary to keep track of all your services provided to your clients in minute details. Moreover, such a contract helps you in receiving payment for the services rendered.
When there are multiple projects underway, a contractor can't remember every little detail related to the services provided. The invoice is also useful for the clients/customers as it can be used as a receipt for the business record, and for satisfying an insurance claim and such.
Types Of Contractor Invoices
Contractor invoices do not differ based on their types. They only differ based on layouts. Moreover, the same type of contractor invoice can be used by all the types of contractors, be it, independent contractor, general contractors, or subcontractors.
If you are a contractor and looking for a customizable contracting invoice template free, you are on the right page. CocoSign deals in a variety of templates. Contractor invoices are one of them. Make use of our contract invoice templates and ease your business work!