No more tedious, slow invoicing. Data entered manually in spreadsheets led to inaccuracies in invoices. Modern accounting and invoicing software make business life easier by offering innovative features for end-to-end management. These tools will allow you to save time, money, and most importantly, peace of mind.
How do I choose to invoice software?
How can you get the most from this tool? First, let’s look at the key features that will make your accounting workflow more efficient and increase cash flow security.
- The creation of quotes
Quotations is often the beginning of a business relationship. Invoicing software should create precise, useful estimates within a few clicks. Once they are done, you can send them directly through the platform without opening any other programs (e.g., email).
Every estimate should include information about you and the company (name, address, etc.), as well as details about your company (VAT or business code, etc.). Information about you and your company (name, address, VAT or business code, etc.) as well as details about your customer or prospect. The service description must include the price, VAT, and terms and conditions. Your quotes will complete quickly and easily with an effective data automation system.
- Invoicing is quick and simple.
Your invoicing software can use to create estimates quickly and issue invoices easily. A good invoicing software can convert quotations into invoices, or create new invoices right from scratch. It is important that the invoice number is properly incremented and that all required information appears. You can then send the invoice directly from your software to the customer. Check that your software is compliant with the laws in your country for creating this type of document. Don’t forget to include payment terms in your invoice.
- VAT Management
Invoicing software can calculate and generate VAT automatically, and You will be able to calculate and generate the exact amount you need to pay to the government. Simply enter your VAT information to create your user account. Then, enter the applicable rate according to the products or services you have purchased.
- Follow-up System
Contact follow-up is essential if a prospect doesn’t respond to a quote or has not paid a bill on time. Invoicing software must indicate late payments to ensure that you can quickly send reminders and close any unpaid invoices. In addition, some programs can detect unpaid invoices automatically and send reminders to you without your intervention.
- Monitoring operations and the chart to accounts
Invoicing software, closely linked to the previous point, is an invaluable ally for monitoring and tracking customer payments. You can see the amount collected and the average time it took to pay via an intuitive dashboard. In addition, advanced features allow you to calculate profit margins.
Some hybrid software packages also allow users to convert their invoicing software into accounting entries and export accounting journals. You can link your invoicing software to your bank account if your accounting software has accounting features. It is not a replacement for your chartered accountant or in-house accountant. Instead, it’s meant to provide easy, centralized access and minimize errors while minimizing the number of data entry errors.
- Electronic signatures
Do you need order forms or quotes to sign? A software program that integrates an electronic signature function can help you increase your productivity. Electronic signatures are legal and binding and eliminate the need for lengthy back-and-forth email exchanges between customers and you. In addition, a fully integrated electronic signature option dramatically reduces the time it takes to sell!
- Online payments
If you choose software that allows for online payments, intermediaries do not need to pay your invoices. A centralization is a good option! Payment times using an invoicing system are generally significantly reduced.
- Easy to reach customer support
We want your invoicing experience to be as easy and enjoyable as possible. It’s normal to have questions about the software, whether you are using it initially or later. Your tool should allow you to quickly contact customer service (or after-sales) via chat or another intuitive messaging system. It will allow you to get a quick response and valuable advice. It will ensure you get a prompt response, valuable advice and make the most of your software in the future.
- Foolproof security
To avoid fraud and errors, invoicing software must adhere to strict technological security standards. Therefore, before deciding on the invoicing tool for you, make sure it is certified and compliant with all applicable anti-fraud laws. For complete peace of mind, make sure you have current legislation-compliant documents.
- Cloud-based Invoicing Software Bonus
Do you want software that does not require installation? Software that is accessible from any location, on any device. SaaS (software-as-a-service) invoicing platforms will be a great choice for you. You can access your accounting database on any device, and from anywhere you want, including the cloud.
You now know what features to look out for when selecting invoicing software. It will help you increase productivity and organization. You can also use other tools to make invoicing easier.
Complete software is essential for every business. However, it can be difficult to find complete software. Software that can customize to meet your needs is preferable. Software generally has a large number of features that aren’t necessary for every business. Only a handful of features are required to complete day-to-day tasks quickly.
Billing software is increasingly popular. Few businesses still prepare invoices manually. The software makes it possible to work quickly and with accuracy. Software must be compatible with your business. Some features are essential for all businesses. Let’s take a look at all the must-have features.