Whether you’re a freelancer, small business owner or CEO of a multinational, surviving in today’s competitive market is tough. That’s why many business owners look for technological solutions in an attempt to save time and boost sales and profitability.
This is exactly where online invoice generators come in handy. They help streamline your invoicing process, keep tabs on your expenses and send error-free invoices to multiple clients easily.
Creating and emailing invoices and following up on pending bills can eat up a lot of time. It can also cost you a lot of money without you even realizing it.
Online invoicing apps let you manage these procedures more effectively, thus saving you a ton of hours and cash.
But, with so many options available, how do you know which one is right for your small business?
Below, we explore some of the best invoice software to make the choice a bit easier.
One the most popular invoicing solutions around, FreshBooks has around five million businesses using it. With features to track time and expense, it is ideal for small businesses and freelancers. Aside from basic invoicing and payment processing, FreshBooks lets you create projects, calculate time, log expenses, budget estimates and prepare detailed reports.
Simply log in and see your business revenue and profit together with other basic reports on the dashboard. The Invoices tab features your outstanding, draft and overdue amounts at the top (in bold fonts), with recently updated invoices below so you know their billing priority.
FreshBooks can also connect to your business bank account or credit card and draw expenses automatically. This facilitates your billing and helps you figure out your total expenses at tax time.
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Zoho Books is one of the best invoice software for small businesses, startups and freelancers.
Aside from creating and sending invoices, setting automatic reminders, tracking expenses, generating reports and syncing bank accounts, Zoho makes it easy for customers to make purchases on your website. One of the biggest reasons why consumers leave websites without purchasing anything is a complex checkout process so this could be a big advantage.
You can also use invoice templates to hasten the billing process. These templates are fully customizable, allowing you to add your company logo and change fonts, among other options.
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OneUp is cloud-based accounting, inventory and invoicing software for small and mid-scale businesses that requires someone with a good working knowledge of accounting. It lets you manage your accounting, invoicing, inventory and CRM from your laptop or mobile.
You can also create a quote, change it into an invoice, and forward it to clients with a few clicks.
OneUp doesn’t provide recurring invoices or automated payment reminders.
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If you’re looking for software that offers invoicing, proposals, project management and time tracking facilities in one place, Pancake is the perfect choice. And there’s no subscription fee. Just pay a one-time fee and you’re set for life.
Pancake is a self-hosted app. When you purchase it, you get a zip file that contains a folder you upload to your server. This allows you to customize its appearance by adding your company logo to the front and backend. You can also personalize the CSS to match your brand. Pancake also has its own database and style sheets whose theme you can personalize to fit your business for a unique customer experience.
Just as your team can track their work and send invoices to customers, clients too can log in to see their project status report and payment history. This is an excellent way to build a smooth workflow and improve client communication.
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NetSuite ERP is one of the world’s leading cloud-based ERP solutions designed to simplify financial management.
From integrating your e-commerce and CRM to Advanced Warehouse and Inventory Management, Human Resources, Professional Services Automation and Services Resource Planning, NetSuite offers them all in one combined suite.
It can automate many business procedures, including inventory and financial management, fixed assets and billing. It also helps streamline order management and procurement processes, eliminating manual reporting and improving overall productivity.
NetSuite ERP can also manage all types of subscriptions, recurrent invoices and complex rating models, no matter your business transaction volume.
Reference image link: https://s.financesonline.com/uploads/2020/01/netsuite-erp-dashboard-1024×576.jpg
Kashflow is another cloud-based application for the UK and is ideal for businesses of all sizes.
Users can create invoices and get email notifications when a payment is due. It can also send automatic reminder letters to your clients. Estimates and quotations can be changed into invoices when the client accepts them. KashFlow can automate recurring purchases and alert suppliers to payments. It can also graphically represent balance sheets, creditors and debtors, customer records, trial balance and transactions.
UK users can also sync their bank accounts to the software for continuous monitoring, file VAT returns directly to HMRC, and create a year-end financial report.
Bill.com is automated invoicing software ideal for small to medium-sized businesses.
Some of its biggest benefits are simple online invoice payment, personalized invoicing services, workflow collaboration and unlimited document storage. You can also access the back office anytime anywhere via mobile device. It also features a calendar that notifies when payments are due and when money is deposited.
Bill.com also syncs seamlessly with Xero, QuickBooks and NetSuite for simpler data entry, improved accuracy and faster account reconciliation.
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For any growing business, time and money are your most important resources. In order to increase your productivity and ensure long-term success, these are the areas that you should target for improvement. While invoicing is a critical part of any business, creating and sending invoices to multiple clients and following them up is often stressful and time consuming. Switching to online billing can save you time and money, and speed up your payment process. While we have listed some of the best invoice software on the market, your choice depends on your business workflow and accounting methods.
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