As a freelancer, you may need to fill in timesheets or create invoices detailing the work you have done for your clients.
Most timesheets are paper based, but some internet based companies will be offering online versions in the near future. These will allow online timesheet creation and verification followed by the automatic creation of an invoice.
Most agencies and clients will require an invoice to accompany each timesheet, detailing the total amount owed for services performed, plus V.A.T (if your Invoicing Company is registered). Some of the larger agencies also offer a self-billing option where they create an invoice on your behalf when they receive your authorised timesheet. Payment times can vary from agency to agency, although most of the larger ones tend to pay promptly (some within 7 days). Fingers crossed, you shouldn't experience any payment delays, but if you do - chase up the agency/client.
It is important to keep your timesheets and invoices up to date, ensuring they are sent in at regular intervals. If you run your own limited company then you are your own "finance director" as a contractor, and in charge of your Company affairs. The responsibility for these matters resides with you. This may seem to be a "downside" of contracting, but things tend just to slot into place and these tasks will become second nature after a while. Umbrella Companies generally perform these administrative tasks on your behalf.
For individual pieces of work it is usual for the work to be completed at a fixed price or at an hourly rate. When you invoice your client simply make sure that you keep a copy and then make sure you schedule reminders if payment is not made within your specified time frame.
