A new year brings a new start - to your workout regimen, diet, and staying on top of your finances. It’s a good time to step back and make some changes to set yourself up for success in the year ahead.
One of the most important things you can do in the new year is something that seems quite small but that can have a major impact on your efficiency, organisation, and yes, even tax not only in the year ahead but for many years after. We’re talking about invoice numbers.
Why update your invoice numbers
It’s not just about a fresh start with new numbers in the new year, it’s about creating an invoice numbering system that allows you to continue to create professional invoices with a unique, sequential invoice number.
Updating your invoice numbers can help not only to ‘reset’ your count for the new year (to start from ‘1’ again), it will also help you stay organised in years to come. For example, if you’re searching for invoices from a particular year, including the year as part of your invoice numbering will make that process significantly faster and easier.
Invoices are a crucial document in the sales process, so it’s important that each invoice adheres to the regulations for your country and industry. Invoice numbers are one of the main requirements in creating a legally-compliant invoice.
Formatting your invoice numbers
If you’re just getting started with invoicing, or looking to update your invoice numbers to upgrade the organisation of your business by including the new year or additional characters to help you keep track of your sales, the new year is perhaps the best time to start.
A few simple ideas for including the year in your invoice numbers while allowing you to restart your invoice count include:
As long as your invoice numbers follow the main requirements for invoices: that each invoice has a unique invoice number, that there are no gaps in your numbering, and that there are no duplicates, you can use the numbering system that works best for your business.
How to update your invoice numbers
If you’re using a Word or Excel invoice template, it is as simple as changing the numbers for your first invoice in the new year. Remembering to use the new numbering system is another matter.
When you work with online invoicing software like Debitoor, you only need to update your invoice numbers on the first invoice. After that the number will update automatically to the new numbering sequence on each new invoice you create.
Note: If you currently have any recurring invoices, these will need to be deactivated and set up with the new invoice numbers.
Once your invoice numbers are updated, they will still need to be consecutive and without gaps or duplicates.
Invoice numbers and Debitoor
Debitoor is designed to make running your business from anywhere simple and efficient. This applies to all aspects of the software - from recording expenses while on the go to accepting online payment for your invoices instantly.
The same goes for your invoice numbers. It only takes setting up your invoice number on your first invoice, and the system will automatically read and apply the next number in your sequence to each new invoice you create.