One of the basic processes of running a business is collecting payment for receipt of goods and services delivered to customers. The invoicing process should be as uncluttered and efficient as possible to ensure payments are collected in a timely manner.
To collect your money faster, here are some suggestions for speeding up the invoicing process by using software specially designed for that purpose.
Reaping the Benefits with Invoicing Software
There are many benefits to using software to handle your company’s invoicing. First, you can customize your invoices to match your company’s colors and logo. In addition, for most invoicing applications, you have control over the template you choose as well as the type of font.
Invoice software easily tracks paid vs. unpaid invoices. You are able to run a selection of reports and do an analysis of your expenses and sales at any time. This is especially helpful for quarterly reports and company presentations.
Perhaps one of the most beneficial aspects of invoicing software is that most – if not all – applications allow you to access essential information about your invoices, income, expenses, and reports from anywhere, not just from the home office.
Using the cloud, today’s invoicing programs gives you the option of working on your business’s financial information from remote locations and using devices such as a tablet or smartphone.
If you’re worried about security, you shouldn’t be. Modern invoice software ensures your transactions and important data will remain secure and available only to you and other authorized representatives of your company.
Photo Credit: Tax Credits
How to Choose the Right Invoicing Software
There are two ways you can go with an invoicing program. You can choose either on-site software for producing and tracking your invoices, or you can primarily stick with online invoice software. It all depends on whether you want to keep your invoicing solely within the confines of your physical business or if you are comfortable sharing and accessing software on the web.
Some businesses are still worried about using web- or cloud-based software because of security reasons, while most others realize how much more convenient it is to make data available whenever and wherever you may be.
Some applications offer the ability to use the software both on-site as well as through virtual means. The choice is yours, depending on how exclusive you want the invoicing experience to be for your business and financial transactions.
Choosing the type of software will depend on how simple or complex your business operations are. Another factor to think about is the size of your business. If your business is larger, you may need a more complex invoicing software to handle the volume. For the small business owner or entrepreneur, simplicity is usually a top concern. Additionally, if you do business overseas, you will need software that can handle those transactions.
Suggested Invoice Software
While there are numerous types of invoicing software available for all business sizes and types, here are some of the more popular programs on the market.
If you are a business owner or entrepreneur, Sage One small business software is an excellent choice. Completely handled online, this online invoicing program allows you to send email reminders for past-due invoices; lets you work in the program from desktops, laptops, or even your tablet; and seamlessly syncs invoicing activity with other projects and accounting tasks.
FreshBooks also uses a cloud-based invoicing program. Similarly to Sage One, you have control over the look of your invoices, how you access your records, and you can use the software from your iPhone. The company also has live support personnel available from 9 a.m. to 6 p.m. EST during the workweek for your convenience.
Finally, if flexibility is of utmost important to you, CGInvoicer goes beyond simple invoicing. With CGInvoicer, you can get a better handle on overdue accounts so you can respond to them right away to collect due funds. In addition, you can actively track sales using their reports feature and create monthly or yearly sales reports. This invoice program offers a free trial so you can try before you buy.
If you have a larger business that requires more accounting or invoicing options, consider giving Tradeshift a try. Invoicing is handled electronically, and for no charge. In fact, all related documents are handled electronically and without additional fees.
Tradeshift provides a complete business platform so employees can easily collaborate. If you use another accounting system, this invoice program is designed to connect to your preferred system as well as popular business back-end systems. With this program, your company gets an all-around business-to-business collaborative system with financial and invoicing integration, as well as the perks of intra- and inter-business networking.
The more efficient your invoicing process, the faster you can collect.
With as many tasks you have to juggle on a daily basis, invoicing should be as quick and easy as possible. By taking advantage of the various invoicing software out there, you can get the job done in short order and collect payments that much faster.
Share this post using these icons:
- A Budget Marketer’s Guide to More Efficient Data Organization
- Cost of smartphone app development
- Top 5 Marketing Automation Tools You Should Be Aware of
- 4 Basic Steps for Setting Up a Shopping Cart on Your Website
- Using Your Own E-Commerce Services To Have More Control
- The Coolest Tech Tools for Your Small Business
- 5 Free small business resources every owner should use
- Website Speed Test: faster than 97% of all tested websites
- Facial Recognition Software and How Marketers Can Utilize It
- Free website hosting sounds cool. But where does it fail?