Did too much pressure from a stressful job, no time for family, becoming a new mother lead you to take a plunge into freelancing?
These factors have often brought the careers of many women professionals to an abrupt halt. Now, technology is reversing that trend, and helping women regain lost professional ground. With the growing digitization and companies opening their arms to freelancers, women can tap on the right opportunities and earn by working at home.
So why be confined to a box when you can do everything better at home comfortably?
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But without being aware of the pitfalls and not having a game plan ready may lead to disaster. Here are a few tips to make the transition easier.
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India has the second highest number of freelancers in the world, about 15 million of those are skilled women freelancers.
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Many people also find the thought of preparing a freelance invoice daunting when taking on their first freelance job. But when you know what information you need to have, and how to lay it out, it’s actually very easy. Find yourself in the same boat? Wondering how to create your first Freelance Invoice?
Last week SHEROES helpline, #ASKMonica, was buzzing with frequent questions on acing the Freelance Gig. Below is what they have to say:
User: I need to raise an invoice for expenses to a client for some project work, I work as a freelancer.
Helpline: Thank you for reaching out. My name is xxx and I will be helping you with this query. You can raise an invoice under your full professional name. And in the event you do register, make sure you communicate any change you make to the company before sending any further invoices. Other things that must be included are Contact Info - your mailing address, phone number, email address, website, etc., right underneath your business name. To make it easier to read, consider typing the info on several lines like this:
Shveta Suri Kohli
PO Box 55775
Anywhere, India 55200
123-313-5555
Myfreelancebusiness.com
Now you’ll want to specify who the invoice is being made out to. Include the recipient’s name, address, phone number and any other info below the invoice header. Generally, your contact info should be on the opposite side of the recipient’s info. So if your business name and logo etc are on the right side of the invoice at the top, the client’s name and info should be below this on the left side. Let me know if that helps answer your question.
Attaching below the sample of an invoice raised.
User: Thank you so much...I had drafted and invoiced on the same lines and ur message gave me the confidence I did it right. My second question is if it’s a client in the US I am invoicing to for expenses incurred here in INR, I need to raise it in USD. What is the best practice for exchange rates so I don't lose it in the transfer, also because my bank will cut a transfer fee too?
Helpline: Sure, we understand your concern, typically a standard median from an international exchange or bank works in this situation and mention the same in invoice for eg: billed at INR 70 There are also services like tranferwise, people also use paypal and find them too smooth. Explore these options and choose the one that suits you. Hope this helps. Feel free to write back for more help.
User: Thank you for your help. Finally I ended up using oanda.com as here I could factor in 3% bank charge to get the right USD amount with the end result of my INR expenditure. Hope it makes sense. Thanks for your guidance nevertheless.
Creating a professional freelance invoice is vital. If you sent your client paper receipts and scribbled notes, they would not be as likely to pay you on time and would probably question the way you run your business.
An invoice is the realisation of your freelance quote. So while your quote lets your client know how much their freelance job will cost, your invoice explains what you have done and asks for that amount to be paid.
For most freelancers, the stage where a freelancer is asked to quote a budget or propose a honorarium is where things go weak. Need help? We got you covered.
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