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Best Practices for MSP Invoicing - ChannelOnline
  • Best Practices for MSP Invoicing

  • Monday, December 04, 2017

Invoicing customers and building up business is the way to keep a business functioning. MSPs need to ensure that their customers are being billed accurately and for the right services.

Accurate Invoicing Is Crucial
An accurate invoice builds trust and confidence in the organization's services, and it also reduces the amount of time clients have to spend chasing down irregularities. In addition, each MSP invoice should have a full level of detail so that each client can see exactly what they're receiving. In general, this involves invoicing each service as a line item, so it's crucial to have an MSP invoicing system that can handle this.

Tailoring Invoices Builds Confidence
Some services are best sold as hourly, daily, or monthly services, whereas others are best sold as one-off items. A classic example would be the difference between buying a domain name for three years and then providing monthly hosting for that domain name. Any good MSP invoicing system should be able to handle this and therefore create different invoices for different customers based on what they still owe for your services.

Billing Must Be Prompt
Billing on time and accurately is also crucial, as it gives the organization a regular income and allows it to plot cash flows. In addition, the system must be capable of automatically sending out invoices; otherwise someone has to do it manually, which can result in mistakes. This means integrating a wide variety of tools into one system so that POs, ticketing, and purchasing are all managed from the same point.

Overall, any system that incorporates these essential characteristics can be extremely beneficial for MSP invoicing. While the quality of service is always extremely important, an invoice system that doesn't bill customers accurately drives them away much more effectively than any amount of downtime will. As a result, an accurate MSP invoicing system is a crucial part of your business.

By providing customized invoicing and the ability for MSPs to add services as line items, ChannelOnline ensures you get the accuracy, promptness, and reliability that you need as well as full disclosure for your customers.