Top Invoicing Software for Your Business
Updated: May 24, 2021
In today’s modern technology world business owners have the opportunity to use invoicing software to improve efficiencies. These billing solutions help business owners to track their sales and services rendered, who has been billed, when payments have been received, and who is overdue for payments. Below we will discuss three proficient software you can choose from.
Bill.com prides itself on bringing smart accounts payable and accounts receivable automation and new payment capabilities to your business. Bill.com is one of the most popular invoicing software with millions of businesses paying and getting paid through this system. One of the reasons this is one of the most popular software is because Bill.com was one of the first companies to integrate with QuickBooks online, and Intuit; this integration improves efficiencies by eliminating double entry when you pay bills or receive payments through Bill.com.Some of the services this software offers include paying vendors electronically, automated invoicing, access to retrieve documents, and an app to easily access payments. Automating your payment process will help by lowering fraud risk, less paper and need for storage, more data on you clients, and offer you back time to focus on your business. Pros of Bill.com include: sending invoices, automatic payments, and easy to set permissions.
Photo Source: Bill.com
It’s almost impossible to not mention QuickBooks when discussing accounting software. After all, according to PCMag, QuickBooks is the #1 accounting software for small to midsize business. QuickBooks has data to show that businesses are paid 2 times faster when using invoice tracking and payment technology. When using QuickBooks for invoicing, business owners are able to use more payment methods so that customers can pay with credit cards, debit cards, and ACH bank transfers. You can also send professional invoices that include your logo, your business information, and the colors you want your business to be associated with. You may also set up recurring invoices so that they are automatically emailed and you may focus on what needs your attention. Pros of QuickBooks include: basic price packages for small business needs, more customer support options, and a user-friendly software.
Photo Source: QuickBooks
To illustrate the benefit of utilizing an invoice software for your business, the following is a testimonial shared by Sage Intacct from one of their clients: Creative Dining Services improved accounts receivable collections by 12% increasing cash flow $760,000 by automating invoicing and collection processes. Pretty impressive! Sage Intacct is able to do many of the features we have mentioned like automated invoicing, professional templates, and increase form of payments. Where Sage Intacct is known to stand out is in the customization and expanded capabilities that larger organizations require. Sage Intacct’s capabilities facilitate scalability on the platform. Pros of Sage Intacct include: integration with CRM systems like SalesForce, managing multiple entities, and that it is cloud based.
Photo Source: Sage Intacct
Acquiring and implementing a business invoice software is an added expense, however this type of software can return a robust ROI. Implementing this software will improve efficiencies, improve productivity, and it will provide you with more time to dedicate to what matters most.
Still not sure which software to use? At CPA by Choice we can help you choose the most practical software for your specific business. We are available to answer your questions, feel free to call us or send us a message.