Invoice and Proposal Management for Consultants
Getting paid should be the easy part. Here's how to streamline proposals and invoicing so you can focus on client work.
Proposal Best Practices
Structure That Converts
- Executive Summary (What they get)
- Understanding (You understand their problem)
- Approach (How you'll solve it)
- Deliverables (Specific outcomes)
- Timeline (When they'll get it)
- Investment (Pricing)
- Next Steps (Clear CTA)
Pricing Presentation
Do: Present value before price Don't: Lead with numbers
Frame pricing in terms of ROI: "Investment: $5,000 for a system that will save you 10 hours/week (worth $15,000/year)"
Speed Matters
Send proposals within 24 hours of the discovery call. Momentum matters.
Invoicing Best Practices
Invoice Timing
| Project Type | When to Invoice |
|---|---|
| Retainer | 1st of month, due within terms |
| Fixed project | 50% upfront, 50% on completion |
| Hourly | Every 2 weeks or monthly |
| Value-based | Based on milestones |
Invoice Elements
Every invoice needs:
- Your business details
- Client details
- Invoice number (unique, sequential)
- Invoice date
- Due date
- Line items with descriptions
- Total amount
- Payment methods
- Terms and conditions
Payment Terms
- Net 15: For established clients
- Net 30: Standard
- Due on receipt: For new or small projects
- 50% upfront: For new clients or large projects
Getting Paid Faster
1. Make Payment Easy
Offer multiple options:
- Bank transfer
- Credit card
- PayPal/Stripe
- ACH
2. Send Reminders
- 7 days before due
- Day of due date
- 7 days overdue
- 14 days overdue (final)
3. Use Late Fees (Carefully)
1.5-2% monthly is standard. State clearly in terms.
4. Get Deposits
Always get money upfront for new client relationships.
Tools for Proposal/Invoice Management
Standalone Options
- FreshBooks
- QuickBooks
- Wave (free)
- Proposify (proposals)
Integrated Approach
Dewx OPS Hub includes:
- Proposal templates with e-signature
- Invoice creation and tracking
- Payment reminders (automated)
- Revenue reporting
- Integration with your CRM and inbox
When a lead closes in your CRM, generate a proposal. When they sign, create an invoice. All in one system.
Ready to streamline your finances? Try Dewx.