Author: Jennifer Brazer

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

3 Golden Rules for Writing Invoice Terms That Get You Paid On Time

Have you ever sent off a flawless invoice, only to wait… and wait… and wait for payment that never arrives on time? You’re not alone—and the culprit may not be your client. It might just be your invoice terms.

As someone who’s written and reviewed invoice conditions for everyone from solo freelancers to mid-size agencies over my 20+ years in financial services, I can tell you: your payment terms aren’t just a polite afterthought—they’re your first line of defense against cash flow problems.

Why Invoice Terms Matter More Than You Think

If you’ve ever been ghosted by a client after delivering stellar work, here’s a tough truth: unclear invoice terms often give people the loophole they need to delay payments—or dispute them entirely.

The numbers don’t lie. According to Atradius, only 36% of invoices in the U.S. are paid on time, while 55% are paid after their due date. This isn’t just a minor inconvenience—it’s a serious business problem.

Invoice terms are the conditions you attach to your invoice: when payment is due, how it should be made, penalties for late payments, and any rewards for settling early. Think of them as the fine print that makes your business run smoothly.

When done right, these terms:

• Ensure healthy cash flow and mastering the cash conversion cycle
• Minimize awkward chasing emails
• Build stronger client relationships
• Protect you in legal disputes

The impact of late payments goes beyond just waiting for money. Nerdwallet reports that 28% of business owners had to delay hiring new employees because of late payments affecting their operations. Payment terms aren’t just paperwork—they’re your business lifeline.

Historical Perspective: Why 30-Day Terms Became Standard

In the past, payment terms were less standardized and often shorter. Today, 30-day payment terms have become the norm due to their balance of financial needs and legal compliance.

According to DocuClipper, 54% of businesses set standard payment terms at 30 days after the invoice date, while only 11% required payment within 7 days. This shift happened as businesses recognized the need for standardization while giving clients reasonable time to process payments.

Real World Win: How One Simple Change Made a Big Difference

A small design agency I worked with struggled with late payments for years. They used the term “Net 30” on all invoices—and assumed everyone knew what it meant. Turns out, their clients didn’t.

We switched to clear, dated terms: “Payment due on or before June 20, 2024.” Within a month? Fewer follow-ups. Happier clients. More cash in the bank.

This simple change created clarity that benefited everyone. The agency stopped feeling like the “bad guy” for asking about late payments, and clients appreciated knowing exactly when payment was expected.

Rule #1: Be Crystal Clear With Payment Terms

First and foremost: clarity wins.

Vague or industry jargon like “Net 30” or “COD” only works if your client speaks fluent invoice. And many don’t. For reference, a shocking 86% of small and medium-sized businesses still manually enter invoice data, according to DocuClipper, which increases the chance for misinterpretation.

Here’s how to get clear:

• Replace relative terms with real dates: “Payment due June 30, 2024” is better than “Net 30.”
• Include acceptable payment methods: ACH, PayPal, credit card, check?
• Detail early payment incentives: “Save 2% if paid within 10 days.”
• Don’t sidestep consequences: “A 1.5% monthly late fee applies after 30 days.”

If you’re still using terms like “Net 30,” consider that many clients may need help understanding invoice terms like “Net 30” and what they actually mean in practice.

For more detailed guidance, check out our best practices for invoicing payment terms.

Sample Clear Payment Line:

📝 “All invoices are due within 15 days of issue date. A 2% discount applies if paid within 7 days. Late payments incur a 1.5% monthly fee beginning 30 days after the issue date.”

Rule #2: Make It Legal (But Not Intimidating)

Invoice terms are legal documents—but that doesn’t mean they need to sound like courtroom transcripts.

Still, legal alignment is non-negotiable. You need to:

• Comply with regional laws on invoicing, payment terms, and penalties.
• Ensure the language supports (not conflicts with) your contract.
• State dispute resolution terms if necessary.

For example, in some countries, charging interest on late payments above a certain rate is illegal. Each region has specific late-payment interest regulations you should understand before setting your terms.

If in doubt? Talk to a local accountant or legal professional. Or use platforms that bake legal compliance into their invoicing templates—many freelancer-friendly tools do.

Large businesses understand this well—65% have implemented automated invoice data entry systems to ensure consistency and legal compliance. For smaller businesses, this same approach can reduce errors and ensure your terms are both legal and effective.

Rule #3: Never Forget the Human

Yes, you’re running a business. But so is your client. And relationships are everything.

I’ve helped hundreds of businesses rewrite invoice terms using natural, respectful language—and conversion rates (aka, getting paid faster) go up nearly every time.

Replace cold lines like:

“FAILURE TO PAY WILL RESULT IN COLLECTIONS.”

With:

“If you ever have questions about this invoice, please feel free to reach out—we’re happy to help!”

Also:

• Always include a “Thank You” at the bottom of your invoice.
• Consider adding a friendly note: “We appreciate your business and prompt payment.”
• Use tools that personalize invoices with the client’s first name or company.

Trust builds momentum. Politeness smooths friction. And people are more likely to pay people they like.

Tools That Make This Easy

Don’t want to manually calculate late fees or remember due dates?

Here are a few invoicing tools that let you automate terms and tone:

• FreshBooks – perfect for service-based freelancers
• QuickBooks – robust for small to mid-size businesses
• FreeAgent – with real-time payment reminders
• Zoho Invoice – flexible and client-friendly

These platforms let you standardize your invoice terms, keep legal wording consistent, and get paid faster, automatically. Learning small-business bookkeeping essentials alongside these tools can further streamline your financial processes.

Special Consideration: Invoice Terms for Freelancers

Working solo means you probably wear all the hats—from writer or designer to CFO.

A few quick tips if you invoice as a freelancer:

• Include a clause for milestone payments for long projects.
• Be flexible but firm: hourly vs. fixed rates may require different terms.
• Align invoices with your contract—and always require a signed agreement.

The Small Business Administration offers excellent invoicing guidelines for freelancers that can help you refine your approach.

Even a one-person business can operate like a pro with consistent, clear invoice wording.

Conclusion: Clarity, Legality, and Humanity Win

If your invoices aren’t getting the results you want, the fix may be simpler than you think. By following the three golden rules—write clear payment terms, ensure legal compliance, and prioritize a human-friendly tone—you position your business as trustworthy and professional.

It’s not just about getting paid. It’s about how your clients feel while doing it.

Ready to transform your invoicing process and improve your cash flow? At Complete Controller, we help businesses like yours implement systems that get you paid faster while maintaining strong client relationships. Visit CompleteController.com today for expert bookkeeping, controller, and financial management services that will revolutionize how you handle your finances.

FAQ

What should be included in invoice payment terms?

Invoice payment terms should include the exact due date (not just “Net 30”), accepted payment methods, early payment discounts, late payment penalties, and clear contact information for payment questions. Also include your company’s legal name, tax ID, and banking details for direct transfers.

How do you write payment terms on an invoice?

Write payment terms in plain language directly on the invoice. For example: “Payment due by [specific date]. Please pay via [payment methods]. Questions? Contact [name] at [email/phone].” Always include a specific calendar date rather than relative terms like “within 30 days.”

How do I get clients to pay invoices on time?

To get clients to pay on time: 1) Set clear expectations upfront in contracts, 2) Send invoices promptly after work completion, 3) Make payment easy with multiple options, 4) Send friendly reminders before due dates, and 5) Offer early payment discounts to motivate prompt payment.

What are examples of payment terms?

Examples of payment terms include: “Payment due within 15 days for a 2% discount or net amount due within 30 days” (2/15 Net 30), “Payment due immediately upon receipt,” “50% deposit required before work begins, 50% due upon completion,” or “Payment due on the 1st of each month for ongoing services.”

Are invoice terms legally binding?

Yes, invoice terms are legally binding when they reflect terms agreed upon in a signed contract or when the client has acknowledged and accepted them. To strengthen legal standing, ensure your invoice terms align with your contract language and include all required elements under local business laws.

Sources

• Accounting Times. (2024). “Crafting Comprehensive Invoice Terms.” J. Smith. (No URL provided)
• Atradius. (2025). “Late Invoicing Statistics.” (No URL provided)
• CompleteController.com. “Business Bookkeeping Essentials.”
  • https://www.completecontroller.com/business-bookkeeping-essentials/
• CompleteController.com. “Mastering the Cash Conversion Cycle.”
  • https://www.completecontroller.com/mastering-the-cash-conversion-cycle/
• CompleteController.com. “Payment Terms for Small Biz.”
  • https://www.completecontroller.com/payment-terms-for-small-biz/
• DocuClipper. (2025). “Accounts Payable Statistics For 2025.” (No URL provided)
• Freelance Insights. (2022). “Invoicing Best Practices for Freelancers.” A. Johnson. (No URL provided)
• GOV.UK. “Late Commercial Payments Interest Debt Recovery.”
  • https://www.gov.uk/late-commercial-payments-interest-debt-recovery
• Investopedia. “Understanding Net 30 Terms.”
  • https://www.investopedia.com/terms/n/net-30.asp
• Nerdwallet. (2025). “Late Payment Statistics.” (No URL provided)
• Small Business Administration. “How to Create an Invoice That Gets Paid Faster.”
  • https://www.sba.gov/blog/how-create-invoice-gets-paid-faster
• Small Business Journal. (2023). “Case Study: Clear Payment Terms.” (Author unnamed). (No URL provided)
• Small Business Journal. (2023). “Effective Invoicing for Small Businesses.” R. Patel. (No URL provided)
• Stripe. (2025). “What Businesses Need to Know About 30 Days Payment Terms.” (No URL provided)

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Google, social networks, online videos, and applications are all part of the digital ideas from QDQ Media, a Microsoft advertising platform for business. That today the Internet has become a transforming force of both society and the business world is a fact. Moreover, the arrival of mobile devices and, soon, the large-scale penetration of the Internet of things and wearables will give a new twist to the way we relate to our environment, our needs, and, therefore, to the way of doing business.

For this reason, “think digital” has become a compulsory subject for any company or business, regardless of its size, sector, or budget, if its objective is to grow and consolidate in these times (and in which they are coming).

Fortunately (or unfortunately for those who do not yet understand the need to “change the chip”), the possibilities that the Internet makes available to small businesses to expand and grow their businesses are increasing. The network has managed to “democratize” the ability to reach our customers, breaking spatial and temporal barriers.

And when we had to “change the chip,” we not only refer to that “change of mentality” that has to occur in traditional businesses to adapt to this new era dominated by digital environments, but also to companies born in the heart of This digital revolution, which must also be readjusted to the continuous changes of an industry that evolves day by day.

However, when addressing this task, large companies’ situation differs from those of small businesses and micro-SMEs, which have less economic resources to deal with them but, on the contrary, enjoy greater agility and ability to adapt to changes because their “machinery” is much less heavy.

Also, to address this task, small businesses have many resources at their disposal to help them make the leap to the Internet and achieve their business objectives through a digital strategy, from training resources and tools that can be found in the network itself to professional services from agencies and companies that have adopted both their services and their rates to these new small companies’ needs and pockets decided to immerse themselves in the digital era.

The digital ideas of QDQ media for your business

And although more and more agencies have veered part of their offer in this direction. A complete text is divided into 12 thematized chapters that, in turn, include 30 quick tips with digital marketing keys so that SMEs can have a recommendation for each day of the year on how to improve their performance in the network.

It is the second publication dedicated to SMEs that the agency has put into circulation, collecting all the good practices and recommendations that it carries out in its daily work with small businesses and whose result can be collected in the opinions QDQ average of clients who have managed to give a new impetus to their business after their immersion in the digital world.

“With this second book, our goal is to offer a support manual for SMEs that helps them develop a complete digital strategy. Many entrepreneurs and entrepreneurs have been able to receive information about digital marketing. Still, in practice, they do not know how to implement it in their businesses “, explains the Marketing Director of QDQ media.

In this way, the publication gathers all the elements with which the digital strategy of an SME has to count and offers concrete answers and practical application to questions about web development, SEO, directories, search engine advertising, digital advertising, e-mail marketing, mobile marketing, web analytics, social networks, digital content, online reputation or multi-site marketing.

All in All

The best businesses are always looking for ways to improve. The best businessperson is ready to learn new things every day, whether improving the products or making the entire work process efficient for effective results. Please pay close attention to other organizations and competitors around you and learn from their achievements and failures.

A good businessman takes notes of others’ failures and takes them as lessons for their own business. Moreover, they not only take notes from the failures but from their success stories as well. Remember, it’s okay to fall, but get back up and keep trying, but don’t stop! Your success is right around the corner!

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

There are many things to take care of when starting your own business. Perhaps one of the most important is choosing a location for your business. When choosing a location, there are many things you should consider to ensure you have chosen the best and most profitable location for your business. It would be best if you also made it convenient for you and your staff. Here are eight essential things to consider when choosing a location for your business.

Location Characteristics

the characteristics of the location of your business should mirror the characteristics of the business itself. If your business is industrial and being in an industrial location makes sense. However, if your business is a bakery, you would not want to be located in the industrial area because the location characteristics would not match the business’s characteristics.

Affordability

While the main concern when choosing a location should be the business’s needs as far as what the building already has in place to meet your operational needs, there are other factors to consider. Most businesses that are just starting or are relocating have limited funds; therefore, the cost should be within the company’s budget. Even if the location is perfect and has all the features your business needs, you have to move on to the next property if it is not affordable.

The Type of Business

As mentioned before, when discussing the location characteristics, the type of business you have will greatly affect your location choices. Some businesses don’t have location restrictions and could set up shop anywhere. However, many businesses have specific needs when it comes to a location that has to be heavily considered.

Customers

Location can make or break a business. If your business depends on walk-in is customers, you have to be in a location that is easily seen and found by potential customers. However, if your customers will seek you out for specialized products or services, your location can be more tucked away. When considering the location, customers, and how they will interact with the business in that location will and should heavily impact your decisions regarding choosing a location.

Property Taxes

Different areas and principalities have different property tax regulations and percentages. When choosing your location, especially if on a budget or with limited funds, the taxes for that location need to be heavily considered. If the property tax is too high, you should consider other locations in areas where it is lower.

Safety

The safety of your business and your staff and customers should be of high importance to every business owner when searching for a location. The safety considerations could include the neighborhood, police and security presence, and your ability to add a security system if one does not already exist. Your business must be safe for all those involved.

Accessibility

When considering your location, its accessibility should be a high priority. There are two kinds of accessibility to consider when choosing your location, accessibility to the disabled, and physical accessibility to the location. If you choose a location that is not easily accessed by disabled people, you could lose some valuable customers. If your location is difficult to get in and out of, your business will suffer as customers will choose to take their business somewhere that is easier to get in and out of.

Quality

While everyone loves a fixer-upper, now is not the time to renovate when it comes to your business location. When choosing your location, choose one that is already in great repair and ready for move-in. Though you can get the location for a steal in some cases, it may not be one after you sink a lot of money into renovations.

Conclusion

There is the saying that there are three things that are important when considering starting your business location, location, location. That statement is timeless and still stands today. There have been many fantastic businesses that failed strictly due to poorly choosing their location. If you apply these eight things to your search for your business location, you will not be one of these businesses that fail but rather one that succeeds!

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Risk is a part of life, and especially when it comes to investments, is a standard part of the process. While risk-free investments were possible and even a little profitable in the past, now, it is no longer possible to grow money with risk-free investments due to inflation. With this in mind, if you are an investor that previously invested in risk-free ventures, it is time to assess your risk tolerance.

Risk is not a guarantee of the performance of an investment; it is a condition of performance. Therefore, the assessment of your risk tolerance is necessary to help control risk-taking, or it could lead to an undesired result. To help you assess your risk tolerance and keep your risks under control, you may want to hire a professional. However, if you decide to invest on your own, here are two recommendations you should follow.

Recommendation 1: Build a risk-tolerant portfolio

When investors have an unlimited source of capital, they may only consider returns and not the risks. However, those investors with a lower risk tolerance have to consider risks that correspond with what they can handle. When an investment has a high yield, it can be tempting for any investor, no matter their tolerance, to put their money into that high-risk investment. If this exceeds your threshold, you have to resist the temptation.

As an investor, what you should do is assess your risk tolerance then look for investments that will stay within the parameters of that assessment. You must show restraint when necessary and go all out to your maximum when you feel it is right. You have to be careful not to look for the highest return, and you have to consider all the risks you’re willing to take. Overextending yourself in an investment can put you in a situation you’ll have a hard time digging out of if it is more loss than you can bear.

With this in mind, when building your portfolio, it must match your risk sensitivity. You also have to be careful not to invest in risky long or short-term investments, and at this point, because of inflation, it’s also not appropriate to invest in any risk-free investments. So, where does that leave your portfolio? You have to be diligent when investing to remain within your risk tolerance.

It should also be noted that you should not mirror anyone else’s investments because their risk tolerance may not be the same as your own. While you can take advice from other investors, your portfolio must build to match your needs, your interests, and your risk sensitivity. Investment portfolios are very individualized and should always be treated as such.

Recommendation 2: Invest or divest gradually

Once you have defined your risk tolerance, the temptation will be to invest all your capital as quickly as possible. This is not a good idea. You should keep your investment money in an accessible account, gaining interest while making investment decisions and small gradual investments. This slowing the process will allow you to test your assessed risk tolerance and adjust before losses become overwhelming.

Through gradual investments, the goal is to build your portfolio while continuing to evaluate what works for you and what does not. Though you will be investing gradually, it is suggested that you do so at regular intervals while observing fluctuations and changing the timeline if necessary.

Through gradual investments, you can also set an average unit price you are willing to pay. You can also adjust to what you invest in and how often. You must realize that this recommendation is to not only protect you from too much loss but to keep you from investing beyond your risk tolerance due to over excitement. When you decide to invest on your own instead of using a professional, you must give yourself time to learn what works and what doesn’t. Giving yourself this time will make you a pro before you know it!

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Your credit score is an important part of your financial health. Many have poor scores that are completely justified, and others have issues with their credit scores that are not valid. Sometimes we have bad scores because we hit rough times and could not pay our bills on time, if at all. Job loss, income drops, unexpected expenses, and a myriad of other issues can affect your income and put your credit score at risk, but there are ways you can remedy these things and repair your score.

You can take some outside actions to raise your score, such as paying back secured loans, getting secured credit cards, paying balances immediately, and working hard to pay all reported bills on time. However, there are some things you can do to remedy those credit issues that are on your report and will remain there until you deal with them or wait seven years.

It is not suggested that you wait seven years for a credit issue to drop off your credit score for a few reasons. One of the main reasons is that whoever holds the credit issue has a longer statute of limitations to bring a lawsuit against you to collect beyond those seven years. If you plan on taking this route, do not contact the debt holder because this contact will reset the lawsuit clock. Therefore, since it is suggested that you somehow deal with any collections that are on your credit, here are three options you can take to repair your credit score immediately.

Option 1: Dispute the collection

Disputing collections and other issues on your credit report is the most popular option of the three that will be discussed. A common misconception is that you can only dispute things on your credit report that you don’t recognize. However, most debt collectors only hold the debt for six months in hot pursuit of payment, and in some cases, if you dispute them since they are no longer being pursued, you can successfully dispute them for removal.

This option is the most popular because it costs you nothing to get the collection removed from your credit report. However, it is not easy to get issues removed, and you have to follow up. Also, while it will raise your score, it is not the highest score raising option.

Option 2: Negotiate your debt down

Many people don’t realize that debt collectors have bought your debt for pennies on the dollar. If you decide not to pay it at all, while they can bring a lawsuit to collect the amount, most of the time, the debt amount is not enough to merit the costs of trying to take you to court. However, if you want to immediately repair your credit, you need to have the collection removed before the seven-year mark.

Since the debt collector has paid so little to purchase your debt, and their goal is to get something for that debt to make a profit, most will negotiate for a lower payoff amount. If you are unable to get the debt removed, this would be the next suggestion. However, keep in mind if you plan on not paying the debt at all, do not make contact with the debt collector as it resets the statute of limitations for them to bring a lawsuit against you for collection.

While this option is the next best thing to having the debt completely removed, it also gives you the lowest credit score boost of the three options.

Option 3: Pay your debt in full

Of the three options to deal with your credit report collections, paying your debt in full is the most expensive. It would be the most financially advantageous to have the debt removed or have the debt amount lowered. However, paying your debt in full raises your credit score the most and can help you repair your score more quickly. Therefore, if you can’t get the debt removed, if you have the funds, it is recommended that you pay it in full if your sole goal is to repair your credit.

What are the credit score ranges?

• 300 – 600 Poor
• 601 – 700 Fair
• 701 – 750 Good
• 751 – 800 Very Good
• 800 – 850 Excellent

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Welcome to “The Ultimate Guide to Navigating Auto Insurance: Unlocking the Secrets to Safeguard Your Ride on the Road.” If you’re a new driver or an experienced one, understanding auto insurance is essential. From coverage types to key terms to common myths to insider tips that will help you save time and money, this comprehensive guide will tell you everything you need to know about auto insurance.

Navigating the auto insurance world can be overwhelming, with countless policies and providers to choose from. That’s where this guide comes in. We’ll break down the complex jargon, demystify the coverage options, and equip you with the knowledge you need to make informed decisions about your auto insurance.

Whether you’re looking to purchase a new policy or seeking to understand your current coverage better, “The Ultimate Guide to Navigating Auto Insurance” has got you covered. So, fasten your seatbelt, and let’s dive into the fascinating world of auto insurance together!

Understanding Auto Insurance

Understanding auto insurance is the cornerstone of our journey. Auto insurance is a contract between you, the policyholder, and the insurance company. In exchange for a premium, the insurance company agrees to pay for specific car-related financial losses you may encounter during the agreement term. This contract is pivotal in safeguarding your finances in case of any mishaps on the road.

Getting auto insurance isn’t just a wise financial decision; it’s also a law in most states. Driving without insurance can result in hefty fines, license suspension, and even jail time, so you’ve got to know the basics of auto insurance to protect you legally and financially.

Auto Insurance is a game of risk. Premiums are paid to the insurance company, which then accepts financial losses in the event of an accident. Your premium depends on how much risk you’re willing to take. Lower your premium if you’re perceived as lower risk, and vice versa.

Types of Auto Insurance Coverage

The next step in our journey is getting car insurance explained and understanding the different types of auto insurance coverage. These include liability coverage, collision coverage, comprehensive coverage, personal injury protection (PIP), and uninsured/underinsured motorist protection (UM/UIM).
The most basic form of auto insurance is liability insurance. Collision coverage covers damage to your car if you cause other people’s property damage or cause bodily injury as a result of a collision with another vehicle or object. Comprehensive coverage covers damage to your car from things other than collisions, like theft, fire, and natural disasters.

Personal Injury Protection (PIP) covers medical expenses for you and your passengers, regardless of who’s at fault in an accident. Uninsured/Underinsured Motorist Protection (UM/UIM) kicks in when you’re involved in an accident with a driver who doesn’t have insurance or doesn’t have enough to cover your expenses.

Factors That Affect Auto Insurance Rates

Auto insurance rates are not one-size-fits-all. They vary greatly depending on various factors. Some of these factors include your age, driving record, location, vehicle make and model, credit score, and the amount and type of coverage you choose.

Your age plays a significant role in your auto insurance rates. Younger drivers, particularly those under 25, are statistically more likely to be involved in accidents, resulting in higher premiums. Similarly, your driving record is a clear indicator of how much of a risk you pose to the insurance company. Drivers with a history of accidents or traffic violations tend to pay more for insurance.

The location also matters. If you live in an area with lots of traffic, you’re more likely to get into an accident, so your insurance premiums go up. Also, some models are more expensive to insure because they’re more prone to theft, cost more to repair, or don’t perform well in tests. Also, if you have a low credit score, insurers think you’re more likely to claim, so your insurance rates will be higher.

How to Choose the Right Auto Insurance Policy

Choosing the right auto insurance policy is a critical decision that requires careful consideration. You need to balance affordability with adequate coverage. Start by determining your coverage needs. Consider the minimum coverage requirements in your state, your budget, and the value of your vehicle.

Once you know your coverage needs, shop around. Get quotes from multiple insurance providers and compare them. Look beyond just the price. Consider factors like the company’s reputation, customer service, and claim handling process. Also, read the policy documents carefully. Understand what is covered and what’s not. Look for any exclusions or limitations.

Lastly, always ask questions. If there’s something you don’t understand, ask the insurer to clarify. An informed decision is always a better decision. Remember, the cheapest policy is not always the best. It’s about finding the right balance between cost and coverage.

Tips for Saving Money on Auto Insurance

Car insurance can come with a price tag, but there are strategies to reduce your premiums. Firstly, think about consolidating your insurance policies. If you have types of insurance such as home and auto coverage, bundling them under one provider could lead to significant savings.

Maintaining a spotless driving record can also result in premiums. The fewer accidents and traffic infractions you have, the lower your perceived risk level will be, potentially reducing your premiums. Increasing your deductible – the amount you must pay upfront before insurance coverage kicks in – can also help decrease your premium rates. However, make sure you can afford the deductible in case of an accident.

Lastly, make sure to take advantage of any discounts.

Insurance companies commonly provide a variety of discounts, such as those for drivers, good students, and vehicles equipped with safety features. Remember to inquire with your insurer about the discounts.

Common Auto Insurance Mistakes to Avoid

When dealing with auto insurance, it’s easy to slip up. One mistake that people often make is opting for the minimum required coverage. While this choice might seem cost-effective initially, it could leave you underinsured in the event of an accident. It’s advisable to opt for coverage that shields you against all potential risks.

Another error is failing to shop around before settling on a policy. If you accept the first quote you receive, take the time to compare various policies and their rates. Additionally, don’t let your policy renew automatically without reviewing it. Your circumstances may have changed since the renewal; therefore, it’s essential to reassess your policy each time to ensure its continued suitability.

Lastly, don’t overlook the importance of reading and understanding the details in your policy documents. Be clear on what’s covered and not included in your policy. Avoid assuming that certain incidents or damages are automatically covered. If unsure, seek clarification from your insurance representative.

Steps to Take After a Car Accident

Being aware of what steps to take after a car accident can help streamline the insurance claim process.

Firstly, make sure everyone is safe and call 911 if needed. After that, gather all the information, such as the details of the other driver’s statements from witnesses, and take photos of the scene and any damage.

Contact your insurance company promptly. Share all the collected information with them. Cooperate throughout the claim process. If the other driver is liable, their insurance should cover your losses. In case they are uninsured or underinsured, your UM/UIM coverage will come into play to cover the costs.

Finally, seeking counsel if the accident is serious is advisable, particularly if significant injuries or damage are involved. A legal representative can assist you in navigating through any complexities and ensure you receive fair compensation.

How to File an Auto Insurance Claim

Filing an auto insurance claim might seem overwhelming at first. It’s a simple process that you can take once you know what steps to take. Begin by informing your insurance provider about the accident. Provide them with all details, including accident specifics, information about parties involved, and any evidence you have gathered.

Your insurer will then assign a claims adjuster to handle your case. The insurance adjuster will carefully examine the accident details, evaluate the damage, and determine the appropriate compensation amount from the insurance company. Cooperating with the adjuster and providing any information they may require is important.

After the adjuster assesses your claim, you will receive a settlement offer from the insurance company. This offer represents the sum they’re prepared to pay for your claim. Take time to review this offer thoroughly. If you agree with the proposed amount, you can accept it. The insurer will proceed with payment. If you disagree, you have the option to negotiate with them or seek assistance from a professional.

Auto Insurance Discounts and Rewards

Many insurers provide discounts and incentives as a way to attract and retain customers while reducing premiums. These benefits can have an impact on your overall costs. Common discounts include policy discounts, safe driver rewards, and discounts on vehicle safety features.

Multi-policy discounts are available when you purchase different types of insurance policies from one provider. Safe driver rewards are typically offered to individuals with driving records free of accidents or traffic violations over a specific period. Discounts for safety features are granted to vehicles equipped with safety technologies such as anti-lock brakes, airbags, or anti-theft systems.

Furthermore, certain companies provide loyalty perks to customers who have been with them for a time. These perks might involve reduced premiums, increased discounts, or even cashback offers. It’s always an idea to keep an eye out for such benefits, and feel free to inquire about them from your insurer.

Conclusion: Importance of Having the Right Auto Insurance Coverage

In conclusion, having the right auto insurance coverage is essential for every driver. It protects you financially, gives you peace of mind, and is a legal requirement in most states. Understanding auto insurance, choosing the right policy, and saving money on premiums can make a huge difference in your overall driving experience.

Remember, auto insurance is not just about complying with the law; it’s about protecting yourself and your loved ones. So, make sure you have adequate coverage that suits your needs and gives you the protection you need. Happy driving!

FAQ

Q: What is auto insurance, and why is it important?

Auto insurance is a contract between the policyholder and the insurance company, safeguarding against car-related financial losses. It’s crucial for legal compliance and financial protection in case of mishaps on the road.

Q: What are the different types of auto insurance coverage?

• Liability coverage pays for damage caused to others’ property or bodily injury.

• Collision coverage pays for damage to your vehicle from a collision.

• Comprehensive coverage covers non-collision-related damage like theft or natural disasters.

• Personal Injury Protection (PIP) covers medical expenses.

• Uninsured/Underinsured Motorist Protection (UM/UIM) kicks in when the other driver is uninsured or underinsured.

Q: What factors affect auto insurance rates?

Auto insurance rates are influenced by age, driving record, location, vehicle make/model, credit score, and coverage type. Younger drivers, poor driving records, high-traffic areas, and certain vehicle models tend to have higher premiums.

Q: How can one save money on auto insurance?

• Consider bundling insurance policies for discounts.

• Maintain a clean driving record to lower risk levels.

• Increase your deductible to lower premiums.

Take advantage of available discounts such as safe driver or safety feature discounts. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A person’s resume is the first thing a recruitment agent will consider in determining whether they should invite that candidate over for an interview or not. This document will be a person’s first and occasionally the only chance to influence their potential future boss that they are perfect for the position.

When applying for a job, a person also needs to understand that most recruitment agents will only dedicate a few minutes, or even just a few seconds, while browsing through a resume. As such, a person needs to make a catchy resume that will be straightforward and well maintained to cut ahead of the rest and catch the recruiter’s attention who is examining it. Below are a few useful tips that will help a person in building a solid resume?

Get to know the company and the job position

The first step a person needs to follow is to know the company they want to work for and the position they want to apply for. This way, a person will easily decide precisely what a possible employer wants from their applicants. It will also provide a clearer understanding of the corporation’s model applicant’s qualifications and characteristics.

Are they seeking someone who has general experience in the relevant field? Are they looking for someone with a strong grasp regarding the theories that are used during trading? Are they looking for someone who can be a team player or an individual worker, maybe a mixture of both? Only after receiving the answers to these questions, a person will be able to build a resume that is based on the strengths and credentials that will fit the criteria.

Start writing the resume that will get you the interview

Once a person has done their research regarding the corporation and the job position they want to apply for, now it’s time to handle the serious business of writing a rock-solid resume. If a person is having a hard time knowing where to start? Well, the first thing a person needs to decide they should include in their resume.

A typical resume contains a candidate’s private contact info, work experiences, and history, educational credentials, along with a list of references. While writing a resume, especially the part containing previous work experiences and educational credentials, always remember highlighting and emphasizing the factors that will make a person more suitable for that specific position. Avoid being uncertain. If a person thinks they possess the qualities and skills that a company is looking for, do not hesitate to emphasize them because the other candidates will not hesitate to highlight their abilities.

Proofread, proofread, and proofread!

After writing a resume, now it’s time to recheck. Proofreading a document has its benefits as it can enhance authenticity by eliminating all errors. Regardless of how careful a person was while writing their resume, there will always be some mistakes, and there is no such thing as a “small mistake” when it comes to applying for a new job. Even small and childish errors can easily hinder a person’s chance of success. Therefore, it is better to proofread a resume twice before moving forward properly. Looking at a printed copy of a resume will help a person spot the errors more quickly. It is also a great idea to ask a friend or family member to proofread the document as a second opinion. Ensure that the resume is completely free from errors in all phases of formatting, spellings, and grammar.

Conclusion

Your resume should make you stand out from the rest through keywords and highlighted skills. The main focus is for the hiring agent reading it to know quickly that you are qualified for the job. When writing your resume, always keep in mind that this will be your first impression on a potential employer, so it needs to be well written and concise.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Accounting in a small business can be a challenge. Most of the time, small business owners wear many hats in the company, and when it comes to keeping the books, mistakes can be made, and data can fall through the cracks. Though there is lots of great bookkeeping software out there, at some point, most small business owners will realize they need to hire a bookkeeper. Before you hire a bookkeeper, there are a few things you need to consider.

Do I Need a Full-Time Bookkeeper?

Most small businesses will not need to employ a full-time bookkeeper, but some will be the exception if the daily inputs are extensive. If you do need a full-time bookkeeper, you will need to go through the recruiting and hiring process. You will want to find a certified bookkeeper with experience in small business and preferably with experience specific to your type of business.

If you don’t need a full-time bookkeeper, you may want to consider hiring a freelancer or a firm that will send a bookkeeper however often you and they agree you need one. It is important that you determine your needs to understand what you need when it comes to a bookkeeper.

What is My Budget for a Bookkeeper?

Because most small businesses are low on capital, especially in the first few years, it is important to determine how much you can afford for a bookkeeper. This determination will help you figure out if you can afford a full-time bookkeeper or other bookkeeping options.

If you are on a lower budget, most freelancers tend to be a little less expensive, but you are on their schedule more or less. The flexibility can make it easier for you both when it comes to availability. If you can afford a full-time bookkeeper, while it will be the most expensive option, having the books handled daily will ensure no errors or discrepancies and make a difference when filing taxes or getting financing.

If you can afford something a little more middle of the road, hiring a firm that would do your books regularly might be right for you. They are more on the expensive side from hiring a freelance bookkeeper, but they have a staff of bookkeepers, so you would have them when you needed them without having to hire a full-time employee.

Have I Fully Considered Bookkeeping Software?

Accounting and bookkeeping software has come a long way, and there are multiple great and affordable choices that have all the features you need and have been made user friendly. You don’t have to be a certified bookkeeper to learn how to use the software, and as long as you are good about inputting data, it will be accurate and reliable.

When choosing software, however, you need to consider what your needs are. If you need basic bookkeeping, there is free software that can do the job. However, if you need to cover inventory and payroll in your software, you will need to choose more robust features.

The other thing to consider is whether you want to use cloud-based bookkeeping software, which gives you the flexibility to access your company’s books from anywhere. It also will give you the ability to share it more easily should you do a combination of using software and hiring a professional.

Conclusion

Every business needs a bookkeeping system. As the business owner, it is up to you to determine how to fulfill the needs when it comes to bookkeeping. You have to determine the budget, time, convenience, and other bookkeeping needs before you proceed with hiring a bookkeeper or implementing bookkeeping software.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

How to embrace the cloud into bite-sized portions from Jennifer Brazer, founder and CEO of a completely cloud-based company based in the US.

I have created a company that is 100% in the cloud and I want to share with everyone my thoughts on how to embrace this type of company. I have gathered some great points about embracing the cloud, take a look at what I’ve come up with.

Connecting Staff 

Making sure your staff are able to continue producing the work/product you need to deliver to your customers is of primary importance. Everything else comes second to that. But how do you monitor, train, mentor, and incentivize staff that you cannot see from day to day? Here’s how we bridge that gap:

Remote Desktop Services 

Coupled with a VPN, any good system administrator can create a permission-based environment for staff to log in to a remote server or cloud VM (virtual machine). If your work is stored on a local server, this might be the time to consider migrating to a cloud service or managed service. Be careful to use the appropriate protections to protect the sensitive data stored on your new system.

Work Tracking Software 

Installing a work tracker on your system allows you to see when your staff members log in to work, how long they work, what tasks are performed, and whether they are using their work time efficiently. I always suggest a business model wherein staff members are paid for time worked and incentivized with bonuses for completing more work better. Avoiding the 9 to 5 construct provides staff with more freedom to work as needed and save the employer labor costs as staff work only when there is work to do.

Timesheet 

A timesheet can be much more than a place for staff members to record their time and billable tasks. I recommend you develop the timecard to include hourly wage information and any bonus qualifiers that are part of your incentive program. If you are giving staff members a profit share bonus for completing their work efficiently, provide a field on the timesheet that calculates that bonus. If you are providing a bonus for completing certain milestones, such as a new client onboarding, be sure to make room for that on the timesheet. If you make it easy for staff to track their earnings as they complete their work, it provides them with a greater sense of control and makes them more likely to strive to reach the goals you have set for their role.

Scope of Work 

This is the hardest part. It involves training your staff about the work that needs to be done, the methodologies you want them to use, and the deadlines they must meet. If you put your expectations in a written document by role, that is best. It provides a framework for the processes the staff member will be completing and a place to look at if they ever need clarity. It also makes staff expansion easier, adding new people quickly because training is a breeze.

Connecting Customers 

Now that your staff is up and running, how do you get your clients on board? They may not have as many opportunities to interact with you digitally, but when they do, you want it to be seamless and impressive so that the experience will build trust. A clunky and difficult experience may leave them feeling insecure.

 

Alone or in combination, these tools and strategies will position your business as savvy and supportive as you bridge the technology gap.  

I hope you find it useful. 

Jennifer Brazer,

Author | CEO | Empowerment Nerd

Freelancing, as a full-time business, is becoming more and more popular. Generally, freelancers take a skill or multiple skills they used in the business world and converted into their own freelance business. For many reasons becoming a freelancer is appealing.

• Being your own boss
• Flexibility in your schedule
• No limit to income
• Only taking work you want to

The most popular freelance jobs are writing, graphic design, and consulting. While all three are very different from one is another, there are some common aspects of freelancing that will be the same no matter what kind of freelance business you operate. Here are eight tools that every freelancer should have.

Wunderlist

Staying organized is essential for every freelancer’s success. Wunderlist is a simple and intuitive task list application that can be viewed on the desktop or mobile device app. Tasks can be organized by project and client and then broken down into smaller tasks required to complete each item. Other features include the ability to add notes and files to each task, set deadlines, and create reminders with automatic data synchronization on all your devices.

Trello

Trello is a project management tool that allows you to keep track of ideas, to-do lists, events, and completed tasks using a virtual whiteboard. Each element is configured as a map that can be dragged and dropped into categories making it easier to organize projects and your entire business. To make an account is free, and you can start using it immediately upon creating your account.

My Minutes

My Minutes is a productivity app that is only available for Apple users. This helps you set and reach productivity goals by using the “at least” and “at most” system. For example, you could set it to “spend at least two hours on client A’s project” or if you could set it to “spend no more than one hour on answering emails.” This application is meant to keep you on task and productive.

RescueTime

RescueTime is an app running in the background and recording all of your usage and time spent online and other apps. The point of this app is to help you see where your time is being spent on time management. It is also a great way to track how many hours you work if you bill clients by the hour. This application can be a real eye-opener as far as where and how you are spending your time.

Self-control (App)

Self-Control was designed for those who are easily distracted. This open-sourced distraction app lets people block their access to specific sites even if they remove the act or restart the computer. It will only block during a certain timeframe set by you. You create a blacklist of distracting websites such as Facebook or Twitter, or even your email. Once you click start until the time is up, you will be restricted from access to whatever sites are on the blacklist. The point of Self-Control is to keep you from distraction by restricting your access during certain times.

FreshBooks

FreshBooks is cloud-based accounting software for non-accountants. Not only does it track billable hours, but it also integrates them with an easy online billing system that automatically calculates totals and taxes to generate invoices quickly. FreshBooks also offers hassle-free spending tracking that automatically imports and classifies bank account and credit card expenses and records expenses simply by taking a snapshot of revenue. Its financial reporting tools include expense reports, quarterly analyzes, profit and loss, payments collected, tax summaries, and more.

QuickBooks

Quickbooks is an accounting and bookkeeping software that is perhaps the most used accounting and bookkeeping software on the market. This highly-rated software integrates more than 150 third-party applications and features time tracking and payroll services. Quickbooks has dozens of other features and now offers an online cloud-based version.

Conclusion

Whether you use one or all of these applications, you must use every tool available to you as a freelancer. These tools help you manage time, business organization, and accounting and bookkeeping. These areas are critical, especially to the freelancer who must operate their business on their own. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.