If you think online billing software is just your average crunch the number type software, err, you are mistaken. Billing software for business not only saves your time in managing bills but also helps you in invoicing and accounting. Online billing software is much more than just invoice template generators and payment channels. Here are seven awesome things you can do with online billing software:
1. Automate Invoicing for Recurring Payments
Unlike any other billing system, billing software for business takes the most basic task in finance management—invoicing—and automates it. If your business generates invoices daily and the process is managed manually, then you must consider switching to online billing software as it can streamline the process making it more efficient and cost-effective. By using software, you can set up automated invoices for all your recurring invoices. Online billing software will automatically input the required information to a set pattern of invoices and send it across to your client.
2. Get Quotes Approved and Generate Invoices
Online billing software for business allows users to create invoices with quotes. Despite looking like invoices, these receipts are used to share the quote for a task with clients. Under the quoted amount, there is a button to approve or disapprove the quote. However, once the client verifies the receipt and approves the quote, the receipt is converted into an invoice with the approved quote. It requires no additional work and takes a few seconds to create. In case the quote is unapproved or disapproved, the client can negotiate the price with you which can be then edited straight away on the same receipt. Billing software for retail shop often contain means of correcting or updating quotes even after the invoice has been sent.
3. Suits a Wide Range of Payment Channels
Online billing solutions offer businesses an advantage over all other types of billing methods. Online billing systems allow the user to add a payment channel to the invoice. The payment channel can be used to make payments through credit cards, debit cards and online wallets, thus making it easier for the clients to pay directly without having to configure payment methods at their end.
4. Create Invoices on Your Phone
Most online billing software comes with a mobile application with access control and thorough verification. Users or employees of a business can access relevant data by signing up and getting verified through the mobile application. Once logged in, the users can access almost all features that are available on the desktop version. From instantly creating new invoices to editing previous ones, everything can be done on the phone by using billing software for business.
5. Set Up Automatic Payment Reminders
Ensure you receive payments from your clients on time by sending them timely reminders when needed. One of the biggest advantages of using the best online billing software is the ability to set up automatic payment reminders for your clients.
6. Integrate Online Billing Software with Accounting Software
Online billing software and accounting software together creates an efficient financial management system. By using them together, you can make sure that every new invoice is automatically added to the books and every new payment gets updated. By integrating the two software, you can have a smooth and stress-free tax season too.
7.Get Updates for Each Invoice
Are you wondering if an invoice was cleared on time or not? Worry not. Online billing software, when linked with your bank account, gives you constant updates regarding each invoice automatically.
So what are you waiting for? Migrate all your billing and invoice processing systems to online billing software and shift your focus on growing your business. Online billing software will not only take the burden of managing bills and invoices off your shoulders but will ensure a more efficient, accurate and time-saving process.