Do you need an invoice software to track your invoices and generate them in a timely manner? If yes, then this post is for you! In this blog post, we will discuss the benefits of using invoice software and how it can help save your business time.
How to use invoice software to track your invoices and generate them in a timely manner?
One of the most common tasks of small business owners is to produce invoices on a regular basis. When you perform tasks, whether it's construction work or consulting services, you need to get paid and for that, you need invoicing. If your clients are international companies then this process can be very time-consuming because there will always be some documents that might not match exactly with the invoice details which ultimately delays payment for your hard work. This also interrupts cash flow management in businesses since payments made by customers may take anywhere from 30 days up to 90 days before they arrive at company accounts depending upon terms & conditions agreed between both parties involved. For example, an IT consultancy firm needs money upfront so client doesn’t pay.
What components of invoice software do you need?
Invoice software needs the following components:
(i) ability to add clients,
(ii) ability to add products and services,
(iii) ability to produce an invoice in PDF,
(iv) ability to email invoices to clients and
(v) storage of invoice information including analytics of the data.
An invoice software is useful for a businesses that need a free online platform from which they can manage their business transactions efficiently. It’s helpful if you want your employees who are working remotely or at different locations on different projects having access anytime anywhere over any device be it phone, laptop, desktop or tablet. Invoice management tool eliminates errors since all records are saved automatically along with date & time stamping by location every transaction . You can also track invoices paid, overdue and credit notes in a single dashboard.
Why you should stay away from old fashioned excel sheets?
You should stay away from old fashioned spreadsheets because - technology is evolving, clients expect you to have professional looking invoices and consistent design with industry best practices. In addition, invoice software is a time saver, instead of typing numbers in to a spreadsheet where you can make mistakes, let the software do accurate calculations every-time.
Do free online invoicing tools offer all these benefits?
Yes! There are those softwares that require payment, but there are those offer these for free forever, no fees, no credit cards, no charges, just use the software for as long as you need it. You will be amazed by its offerings which are similar to expensive accounting systems available only for big businesses who spend millions on their IT infrastructure while free online invoicing offers same features at no cost.
Main drivers for Invoicing Software
Market forces, all your competitors are using this, therefore clients and vendors expect the same professionalism from you. When the bank or investors ask for financials, small businesses start to scramble to find all their financial records. Invoicing software can help you be ready to prepare financial reports at a moment's notice. It is industry best-practice to use invoicing software.
Invoices are a legal document, not having one could result in missing out on payment or penalties from your client. In addition you can set up recurring invoices for regular services to save time and money. You may need invoicing if you hire employees who work remotely or at different locations on different projects. Businesses today want their clients to be able make online payments especially because they have credit cards stored already with the invoicing company which saves additional time spent collecting customer information every-time an invoice is created.
If you're like most businesses, you're always looking for ways to save time and money. One area that can be improved is your company's ability to generate invoices in a timely manner. If you're not already using a cloud-based invoicing solution like Free Invoice Software, we encourage you to consider it.
Free Invoice is available for free, and is a great way to keep your accounting and invoicing in one place, make it easy to generate invoices at any time, and stay on top of your company's finances. Visit their website at: https://free-invoice.co.za
In conclusion invoicing software is the solution for business owners because it offers all these benefits at no cost.