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Finance

Announcing BitPix Invoicing - Freelancers' Free Invoicing Solution!

What is one of the most time consuming and tedious tasks as a freelancer? That would be invoicing and tracking payments! Many of you may already have a system in place and pay at least $30 a month for a program to help you organize all of this. However, do you need to spend that much when we are offering you a free service that parallels many of these invoicing systems? For those of you still using Microsoft Word and a shoebox for your receipts, you need to have a much better management system in place to track your invoices and payments. The sooner you get paid, the better! 

Do you know the number of days outstanding of your invoices? Are you consistently paid well after the due date on your invoices for services performed? Do you have a way to track these analytics in order to follow-up with clients in a timely matter? Do your invoices to clients look professional and show you take your job seriously? 

If any of the answers to these questions is no, fear not! BitPix Invoicing is your solution. We have created the infrastructure for you at no cost. As freelancers ourselves, we know that when you are just starting in the industry, cash flow can be tight and the last thing you need is to spend money on a platform that is designed to help you make money. Simply sign up here to set up your free invoicing account today.

Questions, just let us know! Contact us here. Always happy to help! 

Finance Tips for Freelancers from a Former Wall Street Banker-Part 1

Finance Tips for Freelancers from a Former Wall Street Banker-Part 1

Transitioning from the cut throat world of Investment Banking with intense number crunching, all nighters, and hard to meet deadlines to the commercial photography industry filled with freelancers, creatives, and entrepreneurs is quite a stark change. Personalities and career strengths differ completely. Institutional settings and hierarchical structures are complete opposites. However, for me, one of the single biggest differences and challenges between these two work environments has been tackling the payment structure.

In the past, I counted on the consistent bi-weekly paycheck being directly deposited into my bank account and the big performance bonus at the end of the fiscal year. Now, I find myself chasing after invoices overdue by 90+ days without a solid structure in place by which to receive timely payments. My most valuable asset, my time, has been exerted trying to collect overdue payments to keep my accounts receivable balance in check rather than applying my energy to its best use - to enhance and expand my business.

Finances really are the life of a company, so one needs to understand how to manage them. Equally as important is knowing one's rights as a freelancer in regards to collecting payment. In attempting to tackle this issue, I have learned a vast amount of information and a few techniques to help manage my business’ finances and invoice collections that I would like to pass on in hopes of helping you. Today, I will start with the first bit of information which is actually a new law put into place in New York City.