To get paid on time, small business owners need a proper invoicing system in place. The easier it is to set up and send invoices, the better your chances of staying on top of accounts receivable. That can make the difference between success and failure. If you don’t know who owes you money and for how long they’ve owed it, your cash flow will take a hit. Show
That is where PayPal Invoicing comes in. If you run a small business, chances are you have already interacted with the payment company. After all, 377 million people have PayPal accounts. Besides making it easy to accept digital payments, PayPal offers a robust suite of tools for small businesses, and invoicing is one of them. Here is a detailed look at PayPal Invoicing and a step-by-step guide to creating an invoice with this payment provider. How does PayPal Invoicing work?PayPal Invoicing is an easy way to create and send invoices. There is no software to download or app to install. You simply take the following steps:
It is that easy, allowing time-crunched business owners to quickly send an invoice and forget about it. With PayPal, you can create and send invoices from your smartphone, desktop computer or any device that has internet access. Once created, you can send your invoice via shared link or email. You also have the option to print out a PDF and mail it to your customers. Here’s a look at some of the other PayPal invoicing features that make it an attractive business tool:
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How to create and send invoices via PayPalYou can create and send invoices with PayPal in a few simple steps. Step 1: Create a PayPal business account.If you want to do more than create and print invoices, you’ll need a PayPal business account. It is free and easy to set up. To start, visit PayPal’s homepage and select the “Business” tab at the top. It will take you to the PayPal business page. Click on the “Getting Started” button, and you’ll be prompted to create an account. Source: PayPal Source: PayPal You’ll be required to provide information about your business, including its name, address and phone number. It will also ask you the type of business, monthly sales figures, and whether you want to sign up for its PayPal Business debit MasterCard. Once the account is created, PayPal asks about your sales and what you want to use PayPal for. Click on “Send Invoices and Estimates,” and it will offer up its relevant apps and a button to set up the tools. Source: PayPal Step 2: Create an invoice.Once you create your free PayPal business account, select the “Get Paid” tab at the top of the screen. That will open a drop-down menu. Select “Create & Manage Invoices.” Source: PayPal Click on that, and it will open up the main invoice page. At the top, there are three options: Invoices, Estimates and Recurring Series. To create your first business invoice, click on the “Create Invoice” link on the right-hand side of the page. Source: PayPal The drop-down menu to the right of the “Create Invoice” tab gives you three choices: Create Recurring Series, Create Estimate and Send Batch of Invoices. For this guide, we are creating one invoice. Source: PayPal Step 3: Input customer information.Once you click on “Create Invoice,” input your customer’s information, including who is being billed, the amount being billed for, the due date, any discounts, shipping costs, and taxes. You’ll see clickable links to send the invoice to multiple clients and customize the fields. There is also a payment field. You can give customers the option to make partial payments and set a minimum amount due. Source: PayPal You can also add other instructions and upload files and attachments under the “More Options” tab. Source: PayPal Once you have completed filling out the invoice information, save a draft. Step 4: Preview your invoice.After you fill out the invoice, preview it to make sure it is accurate and free of errors. You’ll see what your customers will receive. Source: PayPal Step 5: Send your invoice.Once you preview your invoice, you have several options. You can edit it, save a draft or send it by email. You also have the option to create a share link, print it, or download a PDF, which you can then mail on your own. Source: PayPal Once the invoice is sent, PayPal confirms it went through with a green message at the top of your screen. Source: PayPal For small business owners that want to set up recurring invoices or send them to multiple clients at once, it pays to add all your customers to the address book in PayPal first. That speeds up what is already an easy process. How much does PayPal Invoicing cost?It is free to create and send invoices with PayPal. You’ll pay fees when your invoices get paid online. PayPal charges 3.49% + $0.49 per domestic transaction. If your customer pays you $100, PayPal gets $3.98 of that amount. How do I send an invoice on the PayPal app?Step-by-step instructions. If you haven't already, download the PayPal Business app. ... . Click on the Quick Actions icon (it's shaped like a lightning bolt) in the bottom right-hand corner of the screen.. Select the Send a Quick Invoice option.. Enter an amount for the invoice.. Is there a fee to send an invoice on PayPal?Key takeaway: PayPal invoicing costs a percentage of your transactions (3.49% + $0.49 per transaction) that is only taken from your account after you receive payment. There are no monthly, annual or subscription fees.
Can you send a PayPal invoice to an email address?You only need your customers email address to email an invoice. They'll just need to click the payment button inside the email to pay you with their card or PayPal balance. "Waiting for cheques to arrive in the mail or taking card details over the phone was a nightmare for customers and for us."
How do I send an invoice to a friend and family on PayPal?How do I use PayPal friends and family?. Login to your PayPal account.. Click Send & Request.. Under Send money, Enter phone number, email or contact name.. When prompted, select Sending to a friend.. Enter payment amount, add a note (optional) and Submit.. |