Running a Shopify wholesale store can be a lot of work. There is a lot to keep track of such as adding new products, processing orders, dealing with customer support inquiries, etc. It can be difficult to maintain and remember everything with limited resources.
But the one thing that you don’t really want to forget is to invoice your wholesale customers and remind them to pay their invoices on time. Cash is king! Because this directly contributes to your revenue goals and you cannot simply afford any losses due to unpaid invoices.
- What is Wholesale Invoicing?
- What is a Net Payment Term?
- What types of businesses should do Wholesale Invoicing and Payment Reminders?
- Why is it important to automate Wholesale Invoicing?
- How to Automate Wholesale Invoicing and Payment Reminders?
- How AReceiveables helps your Shopify Store with Wholesale Invoicing and Payment Reminders?
- Conclusion
Even if you have enough resources to handle your wholesale invoicing and payment reminders on Shopify, the task could still be time-consuming if done all manually. Automating your processes will make sure nothing falls through the cracks.
In this blog post, we will show you how to automate wholesale invoicing and payment reminders on your Shopify store. By doing this, you will save time and keep your B2B wholesale business running smoothly.
Also Read:
What is Wholesale Invoicing?
A wholesale invoice is a bill that a business sends to another business for products or services sold. This is different from a retail invoice, which is sent to an individual consumer.
Wholesale invoices usually include the following information:
- Date of the sale
- Details about purchased products
- Unit price of the products purchased
- Quantity of products sold
- Total amount due
- Net payment terms (e.g. “Net 30/60/90”)
- Seller’s information
- Buyer’s information
Wholesale Invoice Example:
What is a Net Payment Term?
Net payment terms are the number of days that a buyer has, to pay their invoice in full.
For example, if your business offers a net 30 payment term on orders above $1000, that means the buyer has 30 days to pay the invoice amount ($1000) from the date of them placing the order.
If you offer credit terms to your wholesale customers, it’s important to include the net payment terms on the invoice. This will help ensure that your customers know when they need to make a payment.
Net payment terms help you to offer flexible payment options to your bulk buyers. Generally wholesale buyers purchase in bulk, having a net payment term option reduces the bulk amount that they have to pay and decreases some burden. On the other hand, it helps you to build a strong relationship with your wholesale customer and encourage repeat purchases. There are some powerful Shopify apps that allow you to easily set up Net Payment Terms on your Shopify store.
What types of businesses should do Wholesale Invoicing and Payment Reminders on Shopify?
Wholesale invoicing and payment reminders can be done by any business that sells products to other businesses on credit terms. This includes companies of all sizes, from small businesses to large enterprises.
If you have a B2B wholesale business, chances are you already use invoices and send payment reminders to your customers to manage your sales. If you don’t currently use them, now is a good time to start.
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Why is it important to automate Wholesale Invoicing?
There are many benefits of automating your wholesale invoicing process:
- It saves time: Creating and sending invoices manually can be time-consuming. By automating your process, you can save time and effort.
- It’s more accurate: Automated invoicing systems can help reduce errors and ensure that all the information on your invoices is correct.
- It’s more professional: Automated invoicing systems can help you create professional-looking invoices that will make a good impression on your customers.
- It’s easier to keep track of: With an automated system, you can easily keep track of your invoices and payments. This will help you stay organized and on top of your finances.
In addition to automating your wholesale invoicing process, you should also consider automating your net payment reminders. Automating net payment reminders to your customers can help you follow up with your unpaid invoices as well as helps you with awkward payment follow-ups.
With Shopify apps like WPD , you can also setup discounts for early payments during the credit cycle.
Also read: What Is Shopify Testing and How To Automate It?
How to Automate Wholesale Invoicing and Payment Reminders Shopify?
There are many different methods to automate your wholesale invoicing and payment reminders Shopify. The best method for you will depend on the size and complexity of your business.
If you have a small business, you may be able to manage your invoicing and payments using a simple spreadsheet or invoicing app but if you have a large business, you might want to consider a dedicated invoicing software.
Now, let’s discuss how to automate wholesale invoicing and payment reminders in detail for your Shopify store.
You can use a Shopify app, or you can use third-party invoicing and email software to automate wholesale invoicing and payment reminders on your Shopify store. We will show you how to do both.
With Shopify Apps
There are different Shopify apps that can help you automate your wholesale invoices and net payment reminders. These apps will help you follow up with your customers for their due wholesale invoices as well as help you with automating wholesale invoicing with different customizable invoice templates.
These Shopify apps can also help you keep track of which invoices have been paid and which ones have not.
Some of the best Shopify apps for wholesale invoicing are:
Some of the best Shopify email marketing apps for sending payment reminders are:
With Invoicing Software
If you cannot afford to buy Shopify apps, you can always choose to go with a free or freemium third-party invoicing software that will help you with wholesale invoicing. This software will usually integrate with your Shopify store, making it easy to send out invoices and track payments.
Here are some third-party invoicing software for businesses:
How AReceiveables helps your Shopify Store with Wholesale Invoicing and Payment Reminders?
AReceivables is a Shopify wholesale accounting and payment reminder app that is specially developed for merchants that are selling their products in bulk to their B2C and B2B/Wholesale customers.
AReceivables offer some useful features that help merchants to keep track of their wholesale invoices and follow up for unpaid invoices and much more.
Check out AReceivables on Shopify App Store Now >
Conclusion
Automating wholesale invoicing and payment reminder operations will help you save a lot of time and money. If you use apps like AReceivables , you won’t have to worry about running two different kinds of apps (for example, one app for wholesale invoicing and another one for sending email reminders for due payments).
It is also essential to make sure that any kind of app(s) that you use for both wholesale invoicing and payment reminders does integrate and works seamlessly on your Shopify store.
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Frequently Asked Questions
What should a wholesale invoice include?
A comprehensive wholesale invoice should detail the date of sale, specific product descriptions, unit prices, quantities sold, the total amount due, and include both the seller’s and buyer’s contact information, alongside the agreed payment terms.
How do payment reminder Shopify apps work?
Shopify apps for payment reminders automate the process by sending scheduled email or SMS notifications to customers about their upcoming or past-due payments, based on predefined net payment terms, thus ensuring timely reminders and payments.
What’s the benefit of offering net payment terms to customers?
Offering net payment terms provides flexibility to your customers, potentially enhancing buyer satisfaction and loyalty. It facilitates bulk purchasing by easing immediate financial burdens, encouraging larger orders and repeat business.
What if I have a large volume of wholesale orders?
For businesses with a large volume of wholesale orders, leveraging dedicated invoicing software that integrates seamlessly with Shopify can significantly streamline operations, ensuring efficient handling and processing of numerous invoices.
Are there free tools for wholesale invoicing and payment reminders?
Yes, several third-party invoicing software options offer free or freemium plans suitable for small to medium-sized businesses. These tools, such as Zoho Invoice and Wave, provide basic invoicing functionalities and can integrate with Shopify for streamlined operations.
How do automated payment reminders handle overdue invoices?
Automated payment reminders can be set to escalate in urgency based on the duration an invoice remains unpaid. This system ensures that customers receive increasingly urgent notices, encouraging them to settle their accounts promptly.
