How To Choose the Best Invoicing Software
Every business owner needs a way to get paid. In the old days, you had to have an accountant keep track of all the bills and invoices you’d send to your customers. They’d have to collaborate with you to ensure invoices looked correct, then make sure your clients and customers received these invoices and paid them on time.
Thankfully, technology has slashed much of the slow and tedious professional invoice work. Online invoicing tools put the power to get paid into your hands. From customizing professional-looking invoice templates to ensuring your customers pay you the right amount on time, online invoicing applications can help.
Benefits of Using Online Invoicing Software
Online invoicing software helps you with invoicing, sure, but it makes the overall bookkeeping process and getting paid much easier. Here are some other ways online invoicing applications can help you out.
Get Paid Faster
Most obviously, online invoicing solutions make getting paid faster and easier. Instead of waiting days for invoices to arrive in the mail, then more days for checks to arrive, you send invoices instantly online. Your client can then pay you right away — the only people you’ll wait on are your merchant services provider and bank to confirm the payments.
You Can Access it From Anywhere
Online invoicing occurs in the cloud, so you can access your account from anywhere, including your mobile device. This makes it easy for you to send out invoices, check on the status of outstanding invoices, and more while on the go — especially if your chosen software has a good mobile app.
Plus, computer crashes and other disasters are not a worry. Your billing and invoicing data is saved in the cloud, preventing it from being lost in these instances.
Customization Makes Brand-Building Easier
The more places you can inject elements of your brand, the better. It sticks your brand in your customer’s minds that much more. Fortunately, customization-focused invoicing software like Vcita makes it simple to add your logo, brand colors, and even elements of your writing style to your invoices.
It Improves Customer Satisfaction
Bringing anything online is easier for everyone, including your customers and clients. It’s easier for them to keep track of their bills and settle any questions or disputes with you since it’s all easily accessible via their email or client portal. Plus, invoicing software cuts down on errors, which can, at best, annoy a client when they have to contact you about it. They’ll be happier dealing with fast online invoices than cumbersome physical bills that are prone to errors.
It Saves Time
Automation is the key to saving time in your accounting and financial management. Online invoicing software products like Freshbooks contain several automation features such as automated recurring invoice creation and invoice reminders to save entrepreneurs like your time on tedious invoicing tasks.
It Cuts Expenses
Many online invoicing software programs don’t cost too much, but they can save you money in several areas. For one, you won’t have to hire as many accounting staff to handle billing and bookkeeping tasks. That saves you on hiring and training costs, not to mention equipment, supplies, space for those employees.
On top of that, you no longer have to spend money on paper, ink, mailing costs, or as many printers to send out your invoices. You’ll save money on the things that make you money.
Viewing Past Records is Easier
Need to go back through your records for an audit? Maybe you’re doing your taxes, and you need a specific invoice from 8 months ago? With paper invoices, you could spend hours trying to dig up the right invoice. But with online invoicing software, you can search for the invoice you need and find it in a couple of minutes at most.
Key Invoicing Features To Keep In Mind
In deciding which software to pick, and whether to choose free invoicing software or a paid plan, consider how important the following features are to your business.
- Invoicing App - Whether you travel or simply like the convenience of submitting invoices from your smartphone, an easy-to-use app is a great feature
- Time Tracking & Expense Tracking - being able to track and show billable time, as well as expenses and mileage, streamlines your workflow
- Notifications & Automatic Payment Reminders - get and send reminders regarding payment
- Payment Options - being able to accept invoice payments from debit or credit cards as well as Google Pay, Apple Pay, or Paypal in addition to ACH bank transfers
- Number of Invoices - many invoicing management tools offer free accounts, but a paid account is needed to unlock all product features such as unlimited invoices
- Ability to Send Estimates - win more work by quickly setting up and sending professional estimates
No two businesses are alike. Therefore, there’s no definitive “best” online invoicing software in the world. Each one focuses on different areas. Some offer fantastic customization, while others excel in the automation arena. You’ll have to do your research and compare your options to your needs to find the one that works best for your business.
That said, you don’t have to browse every single software company’s website and scan through their features — we’ve done that work for you on our site here. Read our reviews to learn more about the top online invoicing software programs on the market. Stick around to read our articles on invoicing and other business topics as well.