What to Look for in Billing Software for Your Company

Achieving a healthy cash flow can be the determining factor that can make or break a business. Billing software helps business owners quickly submit invoices to clients and customers, and enables them to see faster returns that can help promote a positive cash flow. The company that invests in efficient billing software can experience greater overall efficiency and see better results faster.

Selecting the right billing software has the potential to affect greater accuracy in billing the exact hours spent working on specific projects. It is important to choose a software that can indicate where and how one spends his or her time, and demonstrates efficiency in monetizing this time.

It can be difficult to track the expenses that are incurred while working on projects for clients. It is not uncommon for a portion of these expenses to fall through the cracks when the time comes to invoice clients, or to be billed incorrectly to the wrong clients. The best billing software will help companies track project expenses in real-time and make certain those expenses are not passed on to the wrong clients.

Companies that utilize subscription services can run into difficulties when attempting to implement electronic billing and invoicing. These tasks can require a higher level of administration than other types of billing services. Therefore, for these companies, it is important to find billing software that supports the specific types of services that are billed on a recurring, scheduled basis. A software that also supports discounts, free trials, renewals, refunds and one-off transactions is also a good choice.

Small billing errors can lead to sizeable problems later on. The best billing software will be able to easily put together costs and quotes automatically, and will also be able to generate invoices from the data retrieved. This function will reduce or eliminate the need for a middle person to produce quotes, which, in turn, reduces chances for costly human error. Paying special attention to this component when considering the purchase of billing software can save valuable time, which saves money for the business.

Larger companies often have complex, disconnected billing systems. By connecting these systems into one easily accessible, cohesive system, administration and individual processes can be reduced significantly. Depending on the software used, this connection can help businesses save time and money all the way from the initial quote through collecting payments for services.

Business relationships are strengthened when clients have questions about the company’s billing process that can be quickly and thoroughly answered. By selecting the right billing software, the company’s billing information can be easily accessible, which enables the clients’ questions to receive fast and accurate responses. A strong feature of appropriate billing software is its ability to make customer care easier, while providing the right answers as they are needed.

Customers and clients appreciate straightforward, simple reports that are all-encompassing and that integrate all pertinent information in an easy-to-read format. On the business side of things, the right billing software enables the company to identify their most profitable clients, monitor purchasing patterns and to project cash-flows. For these purposes, it is best to select a billing software that can generate automated reports. This also serves to remove manual administrative tasks from the process, which can cut costs and improve profitability.

CloudBooks is a highly recommended billing software that generates detailed reports for every phase of the billing process from payment collection to profit & loss reports. If are are considering implementing billing software into your business practices, or are seeking new software that does a better job, please contact us to schedule and appointment for a consultation.

Features of Online Invoicing Software that are Lifesavers for Your Business

Sending out invoices and monitoring which have been paid is such a hassle. Not to mention, if you make a mistake or lose track of an invoice, your business loses money. Online invoicing software is the solution to this old business problem. It allows you to automate invoices entirely online, so you can say “goodbye” to the paperwork that gives you a headache. Here is an overview of the typical features and benefits you will enjoy in online invoicing software:

#1 Cost Reduction and Speedy Payments

Online invoicing software reduces business costs and speeds up payments. You save time and money by handling your invoices with this software because you don’t have to go through the hassle of creating and mailing the paperwork every month. No paperwork means less clutter in your office and fewer documents to shred. You don’t have to wait for customers to receive the mail and send payment either. Customers can immediately pay you online.

#2 Easier Tax Filing

Another great feature of online invoicing software is easier tax filing. The software automatically applies tax codes to invoiced items, making your life easier. Your accountant will be able to access this information easily as well. If there are any errors, your accountant has the ability to correct it within the software.

#3 Professional Templates that Reflect Your Branding

Many online invoicing software provide a variety of custom templates, so you can reflect your branding in invoices. This allows you to remain consistent and professional. You can also adjust the template for specific clients when necessary. For example, you may need to set credit limits for a particular customer. Or you may need to adjust it based on the client’s currency, region, or language.

#4 Notes and Reminders for Clients

Sometimes you need to jot down notes about a client in regard to payment. Doing this by hand takes more time and can become lost. Online invoicing software allows you to set notes and reminders for clients, which is more convenient than keeping track of it by hand or in another document. You’ll have all the necessary information conveniently located in one safe place online in the cloud.

#5 Multiple Ways of Getting Paid

You can accept a plethora of payment methods with online invoicing software, such as PayPal, bank transfers, and credit cards. With online invoicing software, customer payments are automatically logged for you, so that you save time and improve accuracy. You can quickly view which payments you’re waiting on with the software as well, which saves you the time of manually searching for a missing payment.

#6 Integration with Other Business Functions

Some online invoicing software provides integration with other business functions to further streamline your work. Which business functions are integrated varies from software to software. Choose the one that best suits your needs. For example, our online invoicing software offers project management and time tracking tools. If it makes sense for your business, then it may be the better choice in invoicing software for you.

Conclusion

Not having an efficient system in place for sending and managing invoices is a major reason some small businesses experience cash flow problems. Online invoicing software makes your life easier in many ways, including eliminating a good chunk of paperwork, improving organization of your invoices, and increasing the speed at which you are paid. You will have more time and money to spend on more interesting aspects of your business than invoicing. Our online invoicing software, CloudBooks, offers all of the above benefits to help you stay on top of your business’s earning and spending.

Contact us for more information on how CloudBooks can help your business save time and money while automating your invoices.

A Freelancer’s Journey to Finding a Workable Billing Software Solution

A Freelancer’s Journey to Finding a Workable Billing Software Solution :

What started out as a side income for Mandy about three years ago, eventually became a full-time career. This career consisted of her writing as a freelance writer. She wrote at times as a ghostwriter and sometimes under her own name, but after awhile her lack of business and accounting skills became a roadblock to her success. This is Mandy’s journey to finding a workable billing software solution for her new freelance career.

Freelance Writer Doesn’t Equal Business and Tech Savvy
In the beginning, Mandy worked through broker sites creating content for clients, which was easier for her because the billing and accounting part was already taken care of. After some success there, she began to branch out to freelance job boards and forums. This is where she found a few personal clients who liked her writing on certain topics. At first, billing was easy enough to manage through PayPal, but when work picked up she began to get overwhelmed with the holistic business aspects of her budding career.

See, just because Mandy was a great writer and could satisfy her clients in that department, she really wasn’t business or tech savvy. After six months of branching out on her own and gaining a few of her own personal clients, she began to understand her freelance writing work resembled a business.

In fact, she realized her freelancing writing efforts had become a full-time business. Yet, Mandy was becoming disorganized with billing, invoicing, time-tracking, deadlines, expenses, and overall organization. She was beginning to think she would have to scale down, or simply go back to a broker site.

Mandy Found a Solution
Although Mandy wasn’t the most tech savvy or business minded person, she put forth the effort to find a workable billing, invoicing, and time-tracking solution. After sifting through complicated solutions, which were basically overkill for her situation, she found CloudBooks.

CloudBooks was a comprehensive billing, invoicing, and time-tracking SaaS solution. The simplicity and 30-day free trial offer attracted her to signing up and using it. Right away she realized this was the exact solution she needed to organize every aspect of her promising freelance career.

How CloudBooks Transformed Mandy’s Career
Mandy never thought she’d have a career as a freelance writer, and even with the success she was having for a few years: the business and tech aspect seemed out of her ability to manage. She thought she was simply going to be limited to a mere elementary type of business persona, rather than a fully functional business with a successful brand.

Finding CloudBooks began to change her mind-set around these thoughts of limitation. Her few personal customers responded very well to her professional estimates and invoices, and the time and expense tracking features of CloudBooks began to give her clarity around all aspects of her daily work. She began to become so organized that she was able to take on many more clients and make more money.

CloudBooks transformed Mandy’s mindset and business ability, and through the easy-to-use tools: she was able to organize and manage her freelance career in a professional and successful manner. She expanded her abilities to take payments, track expenses for taxes, track invoices and estimates, and meet deadlines. The best part is she had a central place to access all these tools, while before she was using her memory and sticky tabs!

A Bright Future Began for Mandy
Putting the puzzle pieces together for a successful career as a freelance writer was a slow process at first, but was accelerated when Mandy found CloudBooks. By not having to spend so much time and effort on keeping track of the business aspects of her career, she was able to create a portfolio and a website. After some time she built a successful brand, and was able to even hire a crew of 5 freelance writers to help satisfy her customers’ needs.

CloudBooks remained the solution she used, helping her to comprehensively organize her employees and customers with simplicity and clarity. Through the insightful expense and time-tracking reports, she was able to manage employee productivity and the business’s profitability. And through the organized billing, invoicing, and estimates, she was able to keep track of deadlines and payments due.

Summary

Mandy went from a part-time freelance writer working for content broker sites, to a freelance agency employing five writers and satisfying dozens of clients and hundreds of orders every month. A big part of her successful journey was finding CloudBooks, which gave her the tools, insights, and ability to turn her talents as a writer into a viable business.

CloudBooks is a great billing and invoicing solution for small businesses of all sorts. It’s designed in a way to take the complications out of the billing process, and to give businesses the tools they need to comprehensively manage the vital aspects of their businesses.

By using this innovative SaaS solution, freelancers like Mandy can find the efficient tools they need to upgrade their businesses, satisfy their customers, and use their time more productively. If interested in knowing more or to start your free trial, please contact us today.

Expense Tracking Helps You Make Better Business Decisions

Expense Tracking helps make better business decisions:

Expense tracking with CloudBooks helps you control overheads by tracking where your business is spending money and how that money being spent. CloudBooks tracks your business expenses in real-time so you can accurately monitor and recoup expenses, while ensuring they are attributed and passed on to the correct clients.

Adding expenses when they occur allows you to keep your records updated as the work progresses without having to record and monitor each one by hand. The time saved permits you to keep working and address other business aspects while quickly streamlining operations.

Creating recurring business expenses is easily automated, leaving you free to focus on new expenses and to see exactly where your capital is being spent. With this information, you can analyze and manage your expenses better than ever before.

The CloudBooks app gives you the ability to categorize and organize your expenses in the manner which best suits your particular needs. Employing a spreadsheet style display, CloudBooks presents you with the expense information you need in a clear and uncluttered format. Quickly add or delete expenses, locate costs, clients and create invoices from your dashboard. You can even upload receipts straight into the app by simply taking a picture and attaching it to the corresponding record.

CoudBooks online software is designed with the user in mind, making it easy for anyone to effectively manage their expenses and more, including:

Payments
Invoices
Billing
Estimates
Accounting
Time Tracking
Project Management

The intuitive, all in one design of CloudBooks is ideal for large and small businesses, as well as for professional accounting operations and freelancers. Access is never a problem with the easy web-based application, allowing you and your staff to view and update records from any location through the internet.

CloudBooks was designed in response to the need for an inclusive, user-friendly and affordable accounting solution. Without the need for the extensive and lengthy training required by other programs, you and your staff can quickly implement the software and enjoy the benefits right away.

With CloudBooks, there are no long installation processes and the software eliminates the frequent compatibility issues that plague other programs. Your records can be viewed and updated from smartphones, tablets and laptops, as well as from home or businesses computers, giving you the power to handle your expenses from anywhere at anytime.

CloudBooks maintains a full knowledge base, accessible anytime online, to help you learn the software and make the most of its abilities. Step by step instructions and clearly answered questions allow you and your staff to find answers to common questions, as well as locating solutions and the instructions to implement them effectively.

From the basics to the most advanced features, the knowledge base ensures you have precise instructions on all aspects of the program. Topics include, but are not limited to:

Clients and Client Information
Payments
Credits
Taxes
Your Dashboard
Reports
And More

Managing your business expenses is more than just tracking payments and costs, it is the key to making better business decisions. Empower your business with CloudBooks and you can start making better decisions today, with no risk at all. Test drive the app and try it for free, no credit card or financial information needed, to explore all of the features that CloudBooks has to offer.

Visit us online to see what our clients have to say about CloudBooks, view a sampling of our client list and check out the pricing and plans available. Join the thousands of people around the globe who use the best online expense software to do business and make the most of their time and money.

Have additional questions about products or services? Contact us in person or by phone, Monday through Friday, or anytime online.

Ways to Financially manage startup company

How to Financially manage startup company:

Many startup companies fail because of financial reasons, managing this is tricky as you have a lot to lose if something goes wrong, so the pressure is always on.

Finance can be stressful to manage as a business owner because you have to also oversee every other process that is going on in the business such as marketing, sales, customer service, etc. It may even be harder depending if you have investors or initial funding, these are hard enough to come by. On top of managing the finance, a continuous goal is to try and start generating money at a consistent flow so you do not run out of money. In this article I will go over some tips on how to stay on top of everything financially related.

Staying within your means
Always play within your means, spending too much or borrowing too much money can quickly backfire. All entrepreneurs like to think big, however, if you are new to startups with no previous elite track record, then funding and investments may be hard to come by, so there is no point in spending loads of money in an attempt to turn big profits overnight, it is best to always plan for the near future to ensure you always have a future.
Being real in your business means always having a backup plan incase things do not go as well as planned, or take longer than usual. For example, a new product you have created is selling 50% slower than what what is expected and you are not making enough money from your only source of revenue? A simple way this could’ve been prevented is to have a more realistic estimate and also a back up plan.

Hire financial assistants
Being the manager of your start up company could mean you are short on staff and you have a million different tasks to manage. If you are not trained in accountancy, perhaps looking into financial accounting and reporting training courses would be beneficial. If you wish to delegate the job to a professional, then hiring an accountant will save you a lot of time, stress and money when it comes to managing the numbers. It will give you a peace of mind knowing that you don’t have to spend ages number-crunching and it is also one less task you have to complete by yourself.

Log all financial costs & profit
Although this is primarily a job for the accountant, this point is quite important when it comes to start up companies, there will be phases where there are lot of transactions going within and out of the business with new investors, customers and other stakeholders taking interest in the business. Maintaining organised records can help you a lot as it will show you exactly what is being spent or earned.

This type of data can be used in the future incase you suspect anything goes missing and so you can see how much profit is actually being made on a month to month basis so that you are able to make projections for the future. One last point is to stay away from verbal agreements, in this day and age, every transaction or deal must be traceable or else it could lead to problems in the future.

Ensuring there is a money flow – and be tight with your money
Any business owner will tell you how important it is to actually have money in the bank. Whether you have investors that are demanding money, need money to pay yourself and your staff, enough leftover to put into the business, ensuring that you have cash in the bank is very important. Here are some quick tips to help with the cash flow:

Invoicing customers quickly means you will get the money quicker
Make payments quick and easy for customers
Make all payment terms clear and tracked
Use up to date technology to manage cash flow.