This guide outlines how to make sure you get paid when you undertake freelance jobs. Freelancing is a dream job for many. It gives you the flexibility to work on projects you’re passionate about while also giving you some control over when and how much you work.
But as exciting as this sounds, there are pitfalls with freelance jobs that need to be acknowledged. Chief among them: getting paid. This article expounds on a few things you can do to ensure that you get paid.
Getting paid for freelance jobs
Negotiate Your Terms
Before you start working as a freelancer, research the client company to understand its policies and procedures. Afterwards, write a list of everything you would like to have clarified in the company’s contract.
For example, do you want to be paid per hour or freelance jobs project? How often are payments made? What about expenses? Do you want a monthly or yearly salary? Most companies will offer their services for a fixed period and then pay you upon project completion. With the answers, you will know the way forward.
Create and Send Your Invoices in Good Time
There is no point in creating invoices for your freelance jobs when you are still waiting to finish them. If you have to wait until the last minute, you are making a mistake. Set up a reminder on your calendar so you can remember to write down all the details of each project and update your invoices in good time. You can use invoicing software with a free invoice template. This way, you only have to change a few details, but the template remains the same.
When it comes to sending, ensure you always send your invoices at least 30 days before the due date. If your clients don’t pay you on time for freelance jobs, make sure you send reminders to them immediately so that they can pay the outstanding amount of money within the specified time frame.
Make sure your clients are legitimate
Most freelancers know how important it is to always do an online search on any potential client before agreeing to work on freelance jobs for them, especially if they are unknowns or newbies in their field of expertise. But there are other ways freelancers can check if their clients have legitimate online and offline business practices. They include to:
- Ask for references from previous employers;
- Review their LinkedIn profiles;
- Look up their business registration details;
- Find out what kind of insurance is being provided by their business entity;
- Check out their website registration details; and
- Perform some basic due diligence by searching for similar businesses.
Create a Clear Payment Plan
When building a business, you will have to deal with situations where some of your clients can’t pay you on time for freelance jobs. You can create a payment plan so that they can pay you over time. This way, they won’t have to pay you all at once.
Most businesses like to make their clients feel comfortable with payment plans, which is why they are often willing to work with such arrangements. However, when invoicing, you must send your invoices as soon as possible. This helps your clients know their obligations and how much they need to pay.
Conclusion
Becoming a freelancer can be very liberating, but it also comes with its own set of challenges in getting paid for freelance jobs. As a freelancer, you need to do your accounting, invoice clients and keep track of all company expenses on your own. You’re also responsible for ensuring that your taxes are paid correctly by the end of the year. It’s not easy being your boss, but the above tips make things easier as a freelancer.
