Invoicing - Best Practices

Hey guys...

First time posting here. Was looking for insight on how you guys handle invoicing and/or factoring.
How often do mail your POD, lumper receipts, fuel receipts etc to your accountant/factoring company? Is there a better way to do this?
Thank you

 

I bill my loads as soon as I get unloaded. It takes about 15 minutes to bill a load to the broker. I can't imagine paying someone else to do it.

 

I do it once a week, usually Sunday night. Put everything together in folders on my PC by dates. Makes it easy for me to have a weekly routine doing everything the same way week after week

 

I had it down to 2 minutes. Make a template on you computer then just fill in the blanks and hit send to email the bill to the shipper or broker. PLEASE tell me you said factor just as an example please. PLEASE dont use a factor. Please learn business and money and economics and finance. Please be a business person not a driver pretending to be a business person.

 

Thanks for responding. If you don't mind me asking, how are you able to bill in 15 minutes? Mailing paperwork usually takes a while.

 

yes that was just an example.

 

Most of them accept billing by email now and then they mail you a check. Printer/scanner in the truck makes it easy. I usually do it at the end of the day of delivery.
And like others have said. Avoid factoring. If you need cash quick now and then, opt for brokers quick pay option. Costs about the same, no contracts. Use it today then not again for 2 years on and off no issues. But try to get to a point where you don't need to give up any of your earnings at all.

 

Are there actually brokers that still require the hard copy of the BOL instead of a digital copy? Seems like scanning the BOL and attaching it to an invoice minutes after the job is done is the only way to go.

 

Very few. I think I have mailed one to a broker this year, most accept emailed paperwork. Some have Apps you can upload paperwork/invoice as soon as you deliver.

I have one local direct shipper that requires original B/L and Invoice. Not a problem, (their money is GOOD) I hand deliver those..

 

Most paperwork can be delivered by email, direct upload or fax in just a few minutes. Preparing an invoice and scanning bills is done right here in the truck. I'm usually done with billing within 30 minutes of getting my bills back from the receiver and that includes getting out of the way of the docks.