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Accurate billing is extremely important when it comes to independent contractors and small business owners. You can't afford to lose a customer over something that should be done right the first time. Business owners who provide detailed, prompt invoices straight to the customer's inbox come out way ahead in the credibility stakes.

Terms (or Payment Terms): Invoice terms depend on common practices of your industry, your relationship with the customer, and your cash flow needs. For example, “Net 30” means that the invoice is due 30 days after the Invoice Date. Be mindful some businesses may pay later than the stated due date, so you may want to include a buffer to keep your business free from a cash flow gap.

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