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.
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.