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About admin

Veronika Tondon is a business enthusiast with extensive experience in Invoicing & Payment Process. She has 6+ years of experience in Invoicera, the leading cloud-based invoicing solution as Invoicing Consultant. Sound knowledge in business process execution, offers end to end solutions for complete automation of business processes and AR/AP processes. Contact Veronica for your invoicing requirement.

Online-invoice-software

10 Invoicing Techniques of Pros That Most Business Owners Ignore

Still scratching head to understand invoicing and its best practices? It may appear tedious at first. But, there is always a room to master something that seems impossible in the beginning.

Here are 10 pro techniques to master invoicing like a pro.

1. Have a clear understanding of the basics.

Regardless of the fact, that you decide to outsource your bills or handle them on your own, every invoicing pro has taken their share of time to educate themselves about the invoicing basics so as to get paid in time.

The starter kit for invoicing include:

  • Client and your information on the top
  • Invoice number and due date.
  • Itemized list of services and products.
  • Your terms and conditions & payment terms.
  • Your preferred payment modes.

Also, a smart businessman is always looking up to the best of automation they can get after using an online invoice software. It sends invoice automatically in a predictable time that you schedule it for depending upon the pay cycle.

2. Use an online invoice software.

Creating invoices on paper is practices that went outdated years ago. Now, even the word processor does not hold much importance. The online invoice software has taken over the world of business. It helps you quickly create invoices, send them electronically and then keep a track of each of their movements. Less of a guess game and more professional approach.

This software come with the features of automatic payment tracking and reminders.

  • You should always ask the following questions before selecting an online invoice software:
  • When selecting an invoicing platform ask questions like:
  • The kind of features your business requires?
  • Does the specific invoice software work for your business?
  • Does it fall in your budget?
  • Is it user-friendly?
  • The number of clients it can accommodate?
  • Data storage?
  • Reviews!

3. Track Project Time.

If your invoicing is based on billable hours of projects, make sure you carefully count each minute. Using an invoice software for same will help you keep a track of every minute you’re spending on the project and then fairly billing your clients. It will help you avoid confusions and fairly bill and get paid for your projects.

4. Brand yourself via invoices.

Maintaining invoice hygiene is important. It is how you present yourself in front of your clients. And, the impression you leave them with. Invoices that include logo always stand out and easily recognizable.

Besides your company’s logo, include your brand color too. Find and customize templates for your invoices on Invoicera as it gives businesses the opportunity to create personalized invoices with customized templates.

5. Make sure you invoice the right person.

A highly committed mistake done by any business house is not knowing the right person to invoice. The person you’re serving directly might not be responsible for payments too. Each company has different people assigned for different tasks. Know clearly well in advance who you need to invoice in order to get paid in time. Also, review their payment cycle to get paid early. As invoicing before or after that will both lead to waiting.

6. Review your contract.

Not all the time, but till the time you get familiar with your client and their expectations make sure you’re sending them invoices that are fully cross-checked with the bond that you’ve signed. For example, if the contract stated that payment will only be made via check, but the invoice says that payment is to be made through PayPal, then you need to change the payment method so that there isn’t any confusion.

7. Number your invoices.

Number your invoices correctly to uniquely identify each of your invoices. It is easy to keep and maintain. Tracking payments via numbered invoices also become easy.
when you refer to “invoice #3052,” instead “remember that invoice I sent sometime last month.”

Assign numbers to invoices that are systematical, consistently, and chronologically set. For example, you can also number your invoices by the current year you are working in. In this case, 2018052 would be the 52nd invoice you sent in 2018.

8. Automate the follow-up process.

Chasing the late payments is a tedious task. It consumes a lot of time and efforts. You cannot invest many of your employees in wasting time for these on daily basis. In order to, find the best solution for this is when you automate your entire process of follow up via Invoicera, the online invoice software. Invoicera makes your process of invoicing, tracking payments and managing them easy. It also, helps you generate automatic reports and tracking hassle-free.

9. Keep copies of invoices.

The best you can do to your business is by keeping a record of all the invoices you’re sending to your clients. It will back you by all the proofs and facts as and when required and also removes the chances of any conflicts later on.

Save all your data in the cloud with online invoice software and never miss them again. Other than this, it also allows you to access the same data as and when required.

10. Insert a thank you note in the end.

Inserting the thank you note, in the end, does nothing but politely informs your clients about your mannerism. It helps you build your relations better. Moreover, it will help your client to appreciate your business and ethics.

A simple thank you note can change your client’s perspectives like no other and leave a remarkably positive perspective of you.

Besides being polite, also show your gratitude by adding up little extra, offer the discount, ask for feedback, or even share.

 

Also ReadBEST MARKETING TIPS TO INCORPORATE IN YOUR ONLINE INVOICES

Also, don’t forget to ask your clients for feedback. Simply quote a question like “how did we do?”It will benefit you with happy testimonials that you can easily display as your achievements.

Hope the top 20 pro techniques helped you wider your perspective about invoicing like the pros do. Tell us how much it helped you. Also, don’t forget to share with us your top favorite invoicing techniques.

invoice-software

credit-notes

How To Make Credit Notes? Process and Tips!

Credit notes or credit memo are the simple representation of money you owe to your customers. You can track your credit note in your online invoice software until it is completely paid off.

One of the most common scenarios, when you would need to issue a credit memo, is when you get the supplied goods returned for any reason. This makes the whole transaction closed to reopen. In order to avoid harm to your account books, you can simply issue invoice credit that can be redeemed later on any purchase.

Here is a simple procedure to create credit note that your clients can use easily. You can write a credit memo on the reverse side of the sales invoice and it may include the following three sections: Header, Body & Footer.

The header of a Credit Note:

 

This is the top part of your credit note, which may include the following components:
1. Your Company details: You need to provide all relevant company info, such as the name of the company, address, phone and fax numbers, website etc. In many countries, it is also important to include the business registration details and Sales & Service Tax numbers.

2. The heading should be “Credit Note”, helping the customer to notice it quickly and clearly.

3. Credit Note Number, a unique serial number that you will allocate in order to quickly identify a credit note sent to a particular customer.

4. Date of the Credit Note.

5. Payment Terms: Include the payment terms for your customer’s reference and quick action.

6. Customer Reference Number: If you are using any such number to identify your customer, you need to mention it on your credit memo.

7. Customer name and address.

 

The body of a Credit Memo:

 

Here, you need to mention everything about the invoice error and the reasons behind issuing the credit note. Clearly mention the error, such as wrong pricing or wrong product quantity or any other mistake. Then, mention the correct amount and the adjustments need to be carried out in the original invoice that you already have sent to the customer.

 

Footer of a Credit Note

 

1. All items, their individual prices and the total amount.

2. Taxes, if applicable

3. Total after adding taxes

4. Any comment that you need to add, such as how the amount will be adjusted. For example, any surplus amount could be deducted in the next payment cycle, or the deficit amount can be added in the next payment cycle.

CONCLUSION

 

Writing a credit note is not a herculean task, and you can simply use the template from an online invoice software and easily create one. Today, there are several e-Invoicing and billing solutions available that can make your credit note-issuing task a lot easier as well as efficient. You can use the inbuilt credit note feature and issue a credit memo related to a particular invoice, without any hassles.

 

account-receivable-and-payable-management

 

 

vendor-management-software

Top Tested Tips for Managing Small Business Vendors

 

One mantra a successful entrepreneur swears by is the ability to master the balance between demand and supply need. Whilst you spend your energy majorly on how to increase demand i.e. increase customer base, you tend to forget without good suppliers you would not have much to offer.

We have already spent a lot of time discussing how to increase demand. It is the time to look onto the other side of the coin. Management of vendors is equally important for a business to exist.

Here are top vendor management tips to keep your supplies constant.

(Pro Tip: Always keep your payments tracked with an effective Vendor Management Software like Invoicera.)

1. Have a clear understanding of the contract

While in the small business, a big or long-term contract might lure you but, don’t do that. It is important to first completely understand the pros and cons of a certain vendor, contract and business policies. Initially, aim for a short-term deal with the policy to renewal after that. This will help you have a window for a change of vendor, if necessary. Also, never agree to anything that does not allow you to negotiate with other vendors or possible new customers.

 

2. Have a Clear Understanding of Payment Cycle

A contract itself is the fundamental document that helps you set clear terms of payment. Discuss well in advance about your payment cycle, terms and negotiate well. Only when you’re satisfied completely sign the contract.

Later in the process to keep your payments clear and cycle tracked use a vendor management software. It will help you avoid any vulnerability later on and the process becomes completely transparent. A vendor management software helps you to keep a track of all your purchases and then payments after that. Therefore, making the process transparent. You can also share it with your vendor when the chances of conflicts might occur and then avoid it.

 

3. Find Vendors to Fit Your Scale

Calling out to vendors who deal in high scale will be a stupid call when you’re a small business. You would at the moment won’t be able to cater to the big amount of supplies that they might offer. Try looking for vendors who specifically cater to small business owners. If by no other means than asking other small business owners.

 

4. Closely Monitor Performance

Just like any other relationship in life, you must set the tone early with your vendors too. If, in the beginning, you’re accepting late orders, poor services, and low stocks, it will never get any better. So particularly at the onset of your relationship, it’s important for you to monitor every phase of your transactions to ensure your vendor is performing up to your expectations.

 

5. Develop a Healthy Relationship

When you start thinking of your vendors more than just business, it will benefit you ultimately. While initially, it will just start professionally gradually you can build a relationship with communication. As a business, it will benefit you with a lot of help later in time.

The better you get to know your vendors, the more they can do things outside the scope of your contract, which will make your life easier and hopefully cheaper.
Make them a part of your goals

 

6. Make them a part of your goals

You cannot win the race alone. Take all your supporters in a loop. Vendors are one of your biggest supporters, you just cannot avoid them. They are not minded readers, you will have to clearly tell them about your policies and aims in life. When you will elucidate about your specific goals in business, it is after that you can ask for their support.

Keying them in on important policies and long/short term objectives will allow them to work with you to make it happen, instead of being an obstacle.

 

7. Make them a Part of Strategy Meetings

While having important meetings regarding your pricing strategies, projected growths and costs, it is important to include your vendors into the meetings. Setting up clear expectations in front of them will help them work for it and help you achieve them better.
If a vendor knows you have a specific sales initiative, they can help you. Or they may have a cost-saving special that you can incorporate into your plans.

 

8. Understand Their Business Well

If you’ll keep pressurizing your vendors to cut down their prices, you know what will happen? They won’t be able to vend you anymore.
As much you want your vendors to understand you, you need to understand them too, their business policies and their missions to stay afloat.

 

9. Timely Payment and Communications.

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Keeping a timely payment cycle is important to keep your vendor relations strong. Use a vendor management software free of cost to keep a track of all the purchases and payments for your vendors. It will help you tab every purchase, keep a track of supplies and payment due dates.
It also helps you build strong communication with them that is backed by facts and records.
 
Also Read: Top 10 Business Advantages of Accepting Payments Online
 

Final Words:

Following these tips will help you build a strong supplier relationship. These are just a small list of potential reasons. When you’ll look inside your business you will find more reasons for efficient vendor management.

Invoicera is one of the finest online invoice software that is helping your business 360*. The reason most of the businesses choose Invoicera is the fact helps you manage both clients and vendors via the same dashboard and reduces your manual efforts to the minimum.
SIGN UP TO KNOW MORE!

 

vendor-management-software

 

 

estimate-software

Top 10 Tips to Create Estimate Costs Effectively | Estimate Management

 

Do you know? Accurate project estimation is more important than creating invoices itself. It is your ticket to grabbing your desired project.

An estimate is your first official communication with your client. It needs to be perfect. It is the first impression you will be leaving on your clients, make sure you avoid any errors.

The project estimate is not only affected by known factors like budget, resources, type of project and its scope, but also unknown variables and risks. The project manager faces several challenges while estimating. However, accurate project estimate is essential for the success of the project and the organization. With the right project estimation techniques, the project manager can accurately make the estimations.

 

invoice-and-estimate-software

 

Here are a few tips for accurate project estimation.
 

1. Discussing the project priorities

To create accurate estimation for the project, you need to elucidate the project priorities. For instance, in a project, you can afford to incur more cost but cannot extend the time period. You have to let your team know the priority so that they can create an effective project estimate on estimating software to accomplish the project successfully.
 

2. Negotiate over and over!

Keeping the numbers in the budget given by clients is not possible at times. The tendency of project managers to keep numbers as per budget might appeal on paper but the practical world may change the entire game. Always keep your risk factors in mind and create estimates accordingly. This will save you from any hassle later on. Try expanding the budget. And If, the budget cannot be altered, try to find out what can be done within the limited budget. Create proper cost estimates with cost estimate software and share them with clients for real digits.
 
3. Consider the risk factor

There are inherent risks in projects. Some of the risks are known to your team and some of them will be hidden. A quick risk assessment is not fruitful in such cases. Your team has to be aware of risk management to create an accurate project estimate. You have to implement the proper risk mitigation plan in your project estimate. Your invoice and estimate software has a specific column set for mentioning risks. Don’t overlook them!
 

4. Detailed breakdown

Make sure to perform detailed breakdown analysis of the project. The more detailed breakdown will result in a more accurate estimation.
 

5. Follow the proper planning process

After breaking down the project in smaller components, the three scenarios for each component must be analyzed – worst case scenario, best case scenario and most likely scenario. This analysis should be done especially for those components which are relatively risky or new for the team.
 
6. Clarify assumptions

Make sure that you and your team are on the same page when creating project estimates. For instance, if your team gives you an estimate of successfully completing a task in a given time, make sure that their assumptions of the task match yours. Create your estimates on invoice estimates software such as Invoicera and share it on the dashboard with staff. It will help keep you all on the same dashboard.
 

7. Include contingency

Always include the contingency in your project estimates. Contingency can be in terms of cost, man-hours, and resources.

 

8. Include common activities

When making project estimations, the project manager usually overlooks common activities like meetings, edits etc. However, these activities are quite frequent in any project and must be considered in project estimation.

 

9. Use the lessons and data from previous projects

Reviewing the information from similar projects you have done before will help in creating better project estimates. If there is a task you have done before, you will have a clear idea about how much cost, resources and hours it will take to complete the task. Herein, an estimate management software will help you save all your projects in the same dashboard and accessible.

 

10. More than one project estimation technique

Always use more than one project estimation technique to create project estimations. This will help you make your project estimation more accurately. Learn from the past experience and analyze your projects saved in the estimate software.

 

Also Read: How to manage Team Task Effectively – Quick Guide

 

TO THAT END

Besides creating accurate project estimates, it is essential to send out and manage estimates on time. This would help in getting timely approval and starting of the project. Managing estimates well is important for every business for its smooth functioning and payment cycles.
Using invoice and estimate software like Invoicera helps in managing estimates in an efficient manner and get paid in a timely manner.

 

CALCULATE THE NEW BUSINESS ESTIMATE COSTS FOLLOWING THESE STEPS :

Step 1: Login to Invoicera account

Step 2: Go to billing >> estimate management section

invoice-estimate-software

Step 3: Click on Create Estimate tab: Fill in details including client name, estimate title, estimate number, estimate date, select the product/service, mention terms and conditions.

estimate-management-software

Step 4: Click on Send by Email or Save as Draft

After you’ve created or saved an estimate
– You can easily send an invoice for the estimate
– Print the invoice
– Export as PDF
– Add e-mail client attachment
– Choose the file and click on send

WHAT’S MORE

Balance on what you do and what can you afford to reach a milestone. Use your invoice estimate software as the baseline for how much funding you will need. It is common for the startups to estimate costs, raise what you need as the capital efficiency and the capital assets of the company’s success.

 

invoice-estimate-software

best-task-management-software

A Quick Guide To Effective Team Task Management

 

As, the manager of one of the fastest growing small business, you’re heading the entire army behind you. Therefore, following up each one person can be a dreadful task for you. It will not only waste much of your productive time, but unnecessary intriguing constantly will hamper employees productivity too.

One of the best ways you can opt for, to keep a clear view of your employees and their productivity is choosing an online task management software for your business.

Here in this blog, we will focus on enlightening you more on the above choice and some handful of quick tips to effectively incorporate in your practices.
 
Transparency
 
This is the most crucial and effective aspect of better team management. This is very helpful in the long run. All the members of the team should be on the same page. They all should know about every progress that has been made in the project. This will keep them up to date and let them know what they need to do next.
 
Set Realistic Goals
 
The team members need to be assigned achievable goals. Pushing their strengths but, never unachievable. Set time limits and make sure your employees meet the deadlines. Making sure they are not overloaded with work as It’ll only drop the quality of work.
 
Time is Precious
 
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Time should be utilized wisely. Too much time should not be spent on meetings. The lesser the best. Use tech tools as much as possible to share the recent progress with the team so that whenever you have a meeting, they’ll come up to date and no time will be wasted in revision.
 
Provide Simple Solutions
 
It may happen that in between the project, your team encounters a problem. One should try to provide simple and effective solutions for the block because task management solutions that require mega training are a big disadvantage.
 
Map The Task Priorities
 
Better team management requires the list of tasks be arranged according to their priorities. Complete the tasks with high priorities first. In order, to keep tasks sorted and work streamlined, an intelligent investment in the best task management software will unburden you with some of the management responsibilities and automated working will make the project management more seamless.
 
Divide The Tasks
 
Every team member must be made the owner of a particular task and be responsible for the same. This will foster new ideas within the team and on the individual level. Dividing the task equally will help in achieving goals in time and performance trackable with the help of your online task management software.
 
Don’t Over-Burden
 
It is necessary to assign different tasks to each member, and not overburden them, by dividing them into many sub-tasks. This will lead to wastage of time and effort. Tasks should be divided and into chunks and the completion deadlines should be defined clearly.
 
Don’t Over-Communicate
 
Communication is necessary to keep the information flowing between team members and superiors but over-communication may do more damage than good. It may cause tuning out of your team.
 
Communication channels should be defined clearly for better flow of communication within and across teams.
 
Application of the above tips is useful in achieving better productivity levels for business.

Software like Invoicera helps in providing best task management software and time tracking for managing teams effectively and maintaining deliverables. One can use varied features from task management software to make the process even more effective. Tasks can be assigned to projects and clients for effective project management. One can also use features like making tasks billable or non-billable. Time tracking reports are useful in understanding the level of productivity achieved and the scope of improvement.
 
Also Read: The Importance of Staff Management Software in an Office
 
Manage Tasks And Staff With Invoicera
 
Invoicera is the best task management software with integrated staff management, project management, and billing software. It is empowering account receivable & payable management for over 3 million businesses worldwide since last 14 years.
 
Invoicera helps to automate and simplify your business processes and communication with online invoicing and payments, expense management, recurring/subscription billing, client/vendor panels, time tracking, workflows, multi companies, multilingual & multi-currency support, staff permissions, financial reporting & analysis, purchase order management, sub-contractor billing and time management, comprehensive reporting and APIs for 3rd party integration.

 

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enterprise-billing-system

Top Reasons Why Entrepreneurs choose Invoicera

 

When the world is shifting online, why not invoicing! From dating to education, internet has space for all.

Do you know the fundamental reason behind it?
 

It is because operations done online are more flexible and accessible. The small device that fits your table or even more, your palm has the power to keep you updated irrespective of any geography or time you are in.
 

Internet, today, has broken all the barriers and crossed all the borders. It has made connectivity much stronger and cheaper.
 

Moreover, businesses are emphasizing on creating the paperless office. An enterprise billing software is one of the biggest examples of this revolution.
 

It has changed the entire experience of how businesses invoice and communicate. With, the help of cloud-based billing software businesses is able to sort out on some of the major business activities super easily.
 
Invoicera, the enterprise invoicing software is the choice of more than 3 million businesses around the world. The customized Enterprise billing software is made to fit in your business seamlessly and adapt as per your environment.

Since its advent, Invoicera has been loved by businesses and the love has been translated through word of mouth appreciation in front of the world. Based on the same here are the top reasons Entrepreneurs have chosen Invoicera and still choose it over any other.
 

Easy Enterprise Invoicing Software.

It is as simple, once you install and set up the cloud billing software, you’re set to use it. Feed in relevant data to the system and save it in the cloud forever. Your manual processes have been put to the full stop. The automated business processes are effortless and save you plenty of time and efforts.

 

Invoicing brought down to fit in your palms.

The compulsion of going to an office, accessing the system and then generating the invoices is no more required. The Invoicera’s mobile invoice app has brought down the complex invoicing process to fit in your palm easily. You just need to log in to your account. And, there you have all the information you need to access. Create your invoice instantly and send it to clients then and there.

 

online-invoice-software

 

Generate and track Invoices real time.

The cloud-based billing system lets you generate and send invoices quickly. The real-time tracking works as the cherry on the top and enables you to track invoice status as and when you like. It keeps you updated and you do not need to ping your clients again and again. The automated system is far more professional than any other paper invoicing process.

 

A step towards the paperless office.

As you take steps towards cloud-based billing system, you’re taking towards building a paperless empire. It is eco-friendly and moreover, cost-effective for your business. You’re saved from the hassle of unwanted costs that directly and indirectly affect the business.
 

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Also Read: What do I lose if I bill my clients using paper invoices?

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Undivided Invoicing Support.

 

 
Invoicera, the enterprise billing system makes sure to give its clients undivided support anytime and on any issue. The live demos help you to clear all your doubts about the software and its usage. On the other hand, if you’re using some paper-based or offline software it will take the technician a few hours to reach. But, enterprise billing software is super reliable and affordable.

 

Integrate all your businesses into one dashboard.

If you’re owning more than one business, you can easily amalgamate and integrate each in one single dashboard. It makes keeping a track of all the businesses easy and activities more optimized.
Enterprise invoicing software will allow you to create separate templates for each of the products. You can generate customized invoices for each product and service that you offer.

 

Revolutionary In-house Invoice approval process.

Your wish is our command! Based on a few insights and demands, we found out the invoices were facing constant back and forth because of errors. These errors mainly occurred because either communication gaps in the teams or different departments handling tasks.
To overcome this, we introduced the Invoice approval workflow. It allows you to add authorities in the current workflow and get invoices cross-checked from the in-house team before sending it to clients.

 

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Also Read: What is the need for an Invoice Approval Process in Businesses

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Efficient Staff Management.

Staff plays the most important role in how your company grows. Keeping a track of their productivity is important. This is when Invoicera’s staff management software helped its clients to easily keep a track of staff activities and projects they handle. It also helps them to generate reports at the end of the month for analysis.

 

Financial reports generation and management.

Reports are easily available with Invoicera. The cloud billing software automatically creates reports for analysis. Such as financial reports, task reports, expense reports.
If at any point of time, you need any financial data such as total payment received within a specific time span, the total pending amount in a financial year etc. your online invoicing apps can be of immense help. You can access the database from anywhere and generate a report.

 

30+ integrated payment gateways

Invoicera has the highest number of payment gateways integrated to its cloud-based billing software. It makes it easier for you to receive payments from any parts of the world within minutes. It is one of the highest integrations any enterprise billing software ever has. It has proven to increase cash flow for businesses more than 3 times.

 

A QUICK DIP INTO THE WORLD OF ONLINE INVOICING WITH INVOICERA

Invoicera is a cloud-based billing software empowering account receivable & payable management for over 3 million businesses worldwide since last 14 years.

Invoicera helps to automate and simplify your business processes and communication with online invoicing and payments, expense management, recurring/subscription billing, client/vendor panels, time tracking, workflows, multi companies, multilingual & multi-currency support, staff permissions, financial reporting & analysis, purchase order management, sub-contractor billing and time management, comprehensive reporting and APIs for 3rd party integration.

 

online Invoicing software

 

 

Features Update: Value Added With 2 More Features

Your wish is our command!

Invoicera, the online invoice software is always on a stroll to make the user experience best for all. Sailing on the same track this time we have come out with two very important and long-awaited features: Unpaid Payment Reminders & Client Portal.

 

Unpaid Payment Reminder:

Now, set alerts of outstanding invoices for your teams. For Ex: Add authorized personnel from the accounting team to the invoicing process to keep them updated.

The update is beneficial for highlighting late payment issues to all the relevant authorities.

 

Improved Client Portal :

With the Client Portal, you can ask your clients to further sign up to Invoicera. It will allow both of you to use all the features and communicate with data even better.

  • Your client can now stop recurring billing at their end.
  • Improved dashboard at your client’s end.
  • Improved received Invoice Section.

We’re happy to help and update Invoicera. The revolution will never stop, neither should you!

Happy Invoice-Era!!

 

online-invoice-software

invoice-approval-workflow

Steps to A Faster Invoice Approval Process

Ideally, an organization should process its invoices in timely and efficient manners. Unfortunately, not many organizations understand the importance of it. There are a number of bottlenecks within the traditional invoice approval process that need to be taken care of, in order to achieve high Account Receivable transformation.

Here are few challenges within traditional invoice approval process:

 

    • Slower Processes:
      Paper-based invoices are still common with many organizations leading to the slower invoice approval workflow process. It takes time to manually process and approve every invoice. A slower rate of processing time in invoice approval workflow results in accounts department falling behind deadlines and then struggling to manage cash flow in the organization.

 

    • Lose track of invoices:
      As a traditional way of dealing with invoices include sending and communicating via physical invoices. Therefore, losing out on invoices in the entire invoice approval system is common. It might get lost and never make it to the correct person for approval and further action.

 

    • Higher Chances of Duplicate and Fraudulent behavior:
      Paper based invoices are prone to any damage or fraudulent behavior while you having zero control over any. It is more common for a company to have miscommunication and payment issues while keeping a track of invoices manually. Humans are prone to making errors and it leaves nobody.

     

    invoice-approval-software
     
    Streamlined invoice approval workflow solutions are fast becoming a part of the enterprise across the world, and the AP department is gaining a significant level of competence using such solutions. The automated accounts payable solution can greatly speed up the invoice approval process and can make the payment mechanism more efficient and smooth.

    The invoice approval process could be made simpler and more organized by adopting clearly-defined steps for a faster approval.

    In fact, invoices could be processed with no or minimal human intervention, if the following steps are incorporated:

    The Invoice Approval Workflow:

    1. Create Invoice:

    Your entire invoicing process stays the same. We’ve just added some additional steps to cut down your extra efforts spent on invoicing for overwriting and re-editing. Create your invoices with your pre-set templates. Add all the relevant information and cross-check you did not miss any point on your invoice.

    2. Enable Invoice Approval Process:

    Once you’re done creating your invoice, here comes the next step of getting your invoice approved. Select the desired team of people who worked on that project and authorize them to review and edit an invoice. To enable the invoice approval process in your Invoicera app, go to the Add-on settings and integrate the invoice approval process with your current invoice settings.
     
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    3. Select Options as Per Your Business Requirements:

    Admin has the supreme power to choose all the settings from basic to experts in order to review/edit the invoice. Now, add and customize settings for each project and send accurate invoices in one go.

    4. Define Approval Authorities in electronic invoice approval software:

    After setting up the entire invoice approval workflow, here comes the important task of including the right people in the process of getting the invoice approved. Select from the entire list and choose the people involved in a project and send them the invoice for the approval and suggestions.

    5. Take Action:

    After a full staff review, you are ready to add the proposed edits then and there without overwriting the entire invoice.

    6. Auto Send Approved Invoices:

    This is the last step in the whole invoice approval workflow process. Once your bill is approved and finalized, it can now be automatically sent to the customer without any inconvenience.

    How An Invoice Approval Workflow Benefit Your Entire Business:

    An invoice approval software acts as a supplement to your invoicing process. The add-on helps you to send accurate invoices in one go. Here is how the revolutionary invoice approval process benefits your business:

    • It allows you to send error-free invoices in one time.
    • Miscommunication of official documents can be reduced to zero.
    • A streamlined workflow makes cash flow quick and smooth.
    • Never miss billing any billable amount.
    • Save time wasted on overwriting invoices.
    • Build brand image with accurate communication of official documents.

    Do you Know?

    Why there is the Need For an Invoice Approval Process in Today’s Business

    THANKS TO INVOICERA ACCOUNT PAYABLE & ACCOUNT RECEIVABLE SOLUTION

    In many ways, an automated invoicing solution like Invoicera helps save both time and money and is a much-needed system for today’s business ecosystem. Opt solution that provides end to end customized AR and AP management:

    • Bespoke automated solutions
    • Integrate with legacy CRM and ERP solutions
    • Early payment options for improved cash flow
    • Advanced analytics and automated reports
    • Custom workflow management
    • Branded invoice customization

     

    Invoicera helps businesses in automating approval workflow process makes Approval Quick and Easy!

     

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small-business-billing-software

Online Billing Software: Ideal Choice for Small Businesses

 
In the big business-centric nation like the U.S., entrepreneurs contribute a lot to economic growth and job availability. Small Business Administration of US notes that 99.7% of employer firms situated in the country consists of small business owners. However, the new babies in the industry often face difficulties with financial terms, activities and are not much aware of the know-how of the industry. Fortunately, the U.S. government makes sure to help and educate its talented citizens to start their new ventures and basic business terms. Professional training opportunities, accounting guides, and seed funding possibilities are all you should learn beforehand.

Having fundamental bookkeeping skills and financial management can help you track income, file future taxes and pave way for business success. A quick tip here lies with using a small business billing software. It acts as a supplement to boost your business finances and invoicing.
 

Here are some of the characteristics that the online billing software for small business should have:

 

User-friendly:

 

You needn’t be an accountant to understand billing software for small business. Look for an interface that resembles the traditional manual invoicing but has better user experience than that of paper invoicing. The more familiar you are with the layout, the easier it’ll be.

 

Internet and e-commerce friendly:
 
Online billing software for small business helps you conduct most of your invoicing activities automatically, saving your business time. You can get paid online with more than 30 online payment gateways associated with Invoicera. The same holds utmost importance when you’re running an online business.
 
small business invoicing
 

Online and offline integration:

 

Make sure your small business billing software integrates with your basic programs such as Word, Excel, etc.
 

Useful Report Generation for analysis:

 

A billing software for a small business like Invoicera helps you automatically generate financial reports like expense, income, employee productivity, etc. this easy report generation helps you easily analyze business productivity.

Generate invoices and docs in multiple formats: Make sure the billing solution for small business lets you send invoices in multiple formats like HTML, PDF, CSV, etc. This ensures that compatibility issues are eradicated.

 

Expandability:
 
Your plans are never to stay stagnant in your business, choose the software that has the capability to grow with your business. A billing solution for the small business like Invoicera grows with your business by offering different customization at each step.

 

 

 

CONCLUSION

 

The automated billing and invoice process with small business billing software can result in savings of 50-80% as compared to manual invoicing. Automation speeds the work that drives the business forward. The business process automation increases the ROI, minimizes operational costs, maximize productivity and improve client relations.

The automation processes enable to reduce transaction costs, receive early payments and eliminate routine tasks. The rapid integration consolidates information from any back-end for control, visibility and process performance. The online billing software for small business can help improve your efficiency, cut costs and supports closer supplier relationships.

Also, the Mobo App can easily be downloaded to your Android devices and iOS Phones to access unlimited invoicing support for better and faster decisions on the go. When it comes to payments, digital payments helps to deliver customized digital payment solutions for both customers and business accounts across channels. Invoicera integrated with 25+ global payment solutions that are right for your business.

small business billing software runs more smoothly, just make your business come out of the shadows today!
 

THE FINAL VERDICT:

 

High-quality software must be reliable, easily maintainable, easy to operate and should meet the functional requirements of its domain. I would be wrong to say that these are the only features that best invoicing software for small business should have. But certainly, these are some of the highlights of standout online invoicing software. These guidelines will help in selecting appropriate software that will mitigate your billing woes.
Keep a close eye on business financials with Invoicera. It is easy, no software installation necessary. Just connect to Invoicera as you go. You’ll be up and running quickly with easy up gradation, no hardware and software investment and more. Implementing online billing software can help companies to optimize their working capital and continue running healthy business operations.

 

 

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Paper Invoices- Its Major Challenges And Complications!

 

What do I lose if I bill my clients using paper invoices?

 

You Lose Money!

 

Both directly and indirectly. Directly by investing constantly in pen and paper and indirectly via slow cash flow. A paper invoice is non- traceable, therefore ensuring no timely payment for the job done. With a proper online invoicing solution like Invoicera, you’ll be able to track invoice and know if your invoice is received and viewed by your client.

You might completely lose your paper invoice in the mail and won’t discover until you start chasing it. Are you going to personally call them, if they have received the invoice or not? Will you be calling all your clients yourself or will hire an employee to do this? Paper invoice process makes you ask yourself a lot of questions and bear a lot of extra costs.

The other situation could be, your invoice has already been received by the client but got lost in the pile of other papers and files. This is one step of cash flow delay. The step two could lead to incorrect invoice and later on few manuals back and forth of invoices before your client actually processes it for payments.

All and all, with paper, invoice your cash flow is affected to extent that it can hamper your daily business activities. A small business invoice software, on the other hand, lets you create invoice within minutes and then send it to clients via mail. Sending the invoices via mail will also allow you to keep a track of whether the invoice has been viewed or ignored by the client. This will help you escalate the concern thereafter.

An invoicing system for small business makes the entire process of invoicing super fast. It even enables you to make edits online and never wait for days to get paid for your services.

 

invoice-approval-software

 

What is the purpose of an invoicing system for small business?

 

The old school method of invoicing not only takes a hefty amount of your time to create but some extra added days of mailing physically before the client actually receives them. Neither you had the power to save your invoices, nor keep a track of all your clients work and data. Information once lost could never be recovered again.
The small business invoice software, on the other hand, has become the need of the time because of the increased competition in the market and businesses have realized the power of time. The slow processes hold zero value in the market and are considered outdated. The best invoice software for small business allows you to create invoices online within minutes, send them to clients directly and track each invoice that you send. It also allows you to save all your client information with the cloud and never lose them again. The data once saved while creating an invoice can be fetched anytime to create future invoices, saving the huge amount of time.
The advantages of using small business invoice software like Invoicera:

 

invoicing software for small business
Invoicera is custom designed for small businesses, in order to save their time and money. It is simple, ready-to-use invoice software that comes with pre-designed templates that allows you to start creating invoices as soon as you log in. Here are some of the quick benefits you get while using the best billing software for small business.

  • Every information is saved in the cloud.
  • Builds brand identity with professional official communication via documents such as invoices.
  • It is 100% secure.
  • Supports multiple currencies and languages.
  • 30+ integrated payment gateways.
  • Get detailed expense, finance, etc. reports for detailed analysis.
  • In-house Invoice Approval Process
  • Real-time track invoices.
  • iOS and Android supported mobile app
  • Save extra accounting costs.

 

Why is online invoicing for small business beneficial?

 

Invoicing software for small business is the supplement that helps boost your entire cash flow. This not just a saying but a proven fact. Here is how it works!
Once you log in to your account, creating an invoice is just a few clicks away. Select all your services and saved figures from the drop down. Dd saved taxes and you’re good to go. With the already saved client information, your invoice is set to shoot via mail to your client. While creating and sending an invoice online, your process takes less than 5 minutes which lets you send your invoices to clients super fast. Thereby, increasing the inflow of payments into the organization. It also lets you automatically alert the clients about the late payments and due invoices. The automatic reminder helps cut your extra activities and manage all your finances in time.

The invoicing software for small business works as a single dashboard to manage all your business invoices and finances. It lets you save all your information with the cloud and never miss it again.

Small business invoice software is not only simple but a convenient choice for businesses. They are an environment-friendly way to reduce cost and make more profits. You don’t need to print extra copies of invoices or save details on paper. By handling the transaction completely online, both companies will reduce their paper consumption and save money on postage.

Small businesses should regularly look for ways to save time, improve the payment experience for its customers, as well as to reduce costs in order to grow their business. The use of electronic invoicing and payment system can quickly achieve all three of these benefits for small businesses.

 

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Read More: Benefits of Efficient Online Invoicing for Small Businesses

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To Sum Up:

 

While invoicing on paper you tend to lose more than you think you do. With the blog above we tend to answer your top 3 queries on how paper invoices act as a curse for your business and how you can take measures and step into the world of online invoicing in order to amp up your business games. Billing software for small businesses such as Invoicera is a wholesome package that is custom made to handle each type of business activities well. The single dashboard is able to manage all your expense, finance, employee, and finance reports.

Invoicing has become super easy after the latest added features of in-house invoice approval process, keyboard shortcut and password protected PDFs with Invoicera. Click to learn more about Invoicera’s last updates.

 

 

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