19 Best Invoicing Software for Prompt Payment (2024)

87% of businesses receive payment after their invoice due date, with 43% being paid 15 or more days late. – Chaser

Do you also fall in the 87% of businesses that receive late payment and are stressed due to cash flow constraints?

If yes, it might be impacting your credit score and business reputation.

Well! You need not worry; there are a lot of solutions in the market that can automate invoicing and ensure you receive all payments with their reminder features. 

What is the best invoicing software: We have come up with 19 of the best invoicing software for 2024. 

They’ll help revolutionize your invoicing process, streamline cash flow management, and ensure prompt payments. 

Now, say goodbye to financial stress and hello to smoother operations!

Join us to explore these invoicing solutions. 

How Late Payments Affect Your Business?

Late payments can

• Disrupt The Cash Flow: When payments are delayed, it disrupts your expected cash flow. Small businesses, in particular, heavily rely on timely payments to cover operational costs such as payroll, inventory, and utilities. Without this steady cash flow, a company might face difficulties in meeting its financial obligations, resulting in potential setbacks or missed growth opportunities.

 

• Strain Client Relationships: Late payments affect your business and can strain relationships with suppliers, vendors, or freelancers. It can break trust and affect long-term partnerships vital for the smooth functioning of your operations. Additionally, repeated late payments can lead to strained relationships, making it challenging to negotiate favorable terms or discounts in the future.

 

• Increase Administrative Burden: Tracking late payments and following up with clients can become an additional administrative burden. It takes time and resources away from focusing on core business activities. Small businesses, especially, may lack dedicated personnel to manage these issues, further impacting their productivity.

 

• Impact Credit Score And Financial Health: Consistently late payments can negatively impact your business credit score. It can affect your ability to secure financing or favorable terms with lenders in the future. A poor credit score might also deter potential partners or investors, limiting your business’s growth potential.

 

• Lead To Legal Implications: In severe cases, prolonged late payments can lead to legal disputes or the need for debt collection measures. It is more resource-intrinsic and can damage your business’s reputation.

Leveraging invoicing software like Invoicera can be a game-changer to free yourself from these risks and ensure a healthy cash flow. 

Let’s learn how invoicing software like Invoicera can help you better manage cash flow.

How Invoicing Software Helps In Getting Prompt Payments?

Prompt payments are the lifeblood of any business, big or small.

However, chasing down payments can take time and effort.

Here’s how invoicing software simplifies this process:

1. Automated Invoicing: With invoicing software, you can create and send professional-looking invoices in minutes. Input the details, hit send, and your client will receive an itemized invoice promptly.
2. Customization: Tailor your invoices and reflect your brand. Add logos, colors, and personalized messages to maintain a professional image that resonates with your clients. Invoice printing software  let you customize templated as per clients. 
3. Scheduled Invoicing: Set up recurring invoices for regular clients, saving you time and ensuring payments arrive predictably.
4. Payment Reminders: No need to manually follow up on overdue payments. The software can send automated reminders, encouraging clients to settle their dues on time.
5. Multiple Payment Options: Offer clients various payment methods—credit cards, PayPal, direct bank transfers—to make it convenient for clients to pay faster.
6. Faster Processing: Digital invoicing means quicker processing. No more waiting for postal services or delays in delivery. Invoices reach clients instantly.
7. Real-Time Tracking: Keep tabs on the status of your invoices. Know when they’ve been viewed, paid, or are overdue, allowing you to take timely action.
8. Integration With Accounting Software: Easily integrate your invoicing software with accounting tools for better financial management and transparency.

Remember, the key to getting paid promptly isn’t just sending invoices; it’s about creating an efficient system that encourages timely payments.

By investing in the right invoicing software that suits your business needs, you’re ensuring timely payments and freeing up valuable time to focus on growing your business.

19 Best Invoicing Software for Prompt Payment

Let’s explore the 19 best invoicing software in detail to help you get timely payments.

1. Invoicera

Invoicera stands tall in the invoicing realm with its versatile features catering to businesses of all sizes.

From automated billing and expense management to custom branding and multi-currency support, Invoicera empowers businesses to streamline their invoicing processes effortlessly.

Features

• Late Payment Reminders: Automate reminders for overdue payments, maintaining healthy cash flow by prompting clients for timely settlements.
• Automated Recurring Billing: Set up recurring invoices for regular clients or subscription-based services, saving time and ensuring consistent billing without manual intervention.
• Multiple Payment Options: Integrate various payment gateways, including credit cards, PayPal, and online bank transfers, providing clients with convenient payment methods.
• Expense Management: Track and manage expenses efficiently, allowing for accurate invoicing and better financial oversight.
• Time Tracking: Monitor billable hours precisely, easily converting tracked time into invoices, ensuring accuracy and transparency in client billing.
• Multi-Currency Support: Conduct business globally by invoicing in multiple currencies, accommodating international clients without hassle.
• Security Measures:Ensure data security with robust encryption and compliance with industry standards, safeguarding sensitive financial information.

What’s Exceptional?

Invoicera helps you with global business management with multi-currency and language support.

Pricing

Invoicera offers a tiered pricing model starting at $30/month for basic features and scaling up based on the needs of growing businesses.

The higher tiers provide access to advanced functionalities such as unlimited clients, custom workflows, and additional team members.

2. Freshbooks

FreshBooks isn’t just a tool; it’s a game-changer for small businesses.

Known for its user-friendly interface, FreshBooks simplifies accounting tasks with features like time tracking, expense management, and client collaboration, making it a go-to choice for freelancers and small teams.

Features

• Customize invoices effortlessly with automated recurring options.
• Track client interactions with invoices in real-time.
• Set automatic late payment reminders and fees.
• Seamlessly accept credit card payments online.
• Generate and send professional estimates.
• Gain business insights through intuitive reports and dashboards.
• Access and work on any device – computer, tablet, or mobile.

What’s Exceptional?

FreshBooks allows you to monitor and record time for projects and clients while effortlessly working with your team.

Pricing

Starts at $15 /user/month

3. Zoho

Zoho’s invoicing software packs a punch with its comprehensive suite of business applications.

With its intuitive interface and robust functionalities, Zoho allows seamless invoicing, expense tracking, and project management, catering to various business needs.

Features

• Generate well-formatted invoices, automate recurring billing, and easily accept online payments.
• Organize and bill expenses to clients seamlessly within a unified platform.
• Link Zoho Books to your bank for live cash flow updates and instant transaction categorization.
• Access insightful financial reports (P&L, Balance Sheet, Cash Flow Statement) for better financial management.
• Implement inventory tracking to oversee stock movements efficiently.

What’s Exceptional?

Other accounting tools often demand expertise, but Zoho Invoices offers instant business insights through its user-friendly dashboard, no accounting background needed.

Pricing

Starts at $10 /organization/month. Free trial for 14 days.

4. Xero

Xero takes accounting to new heights with its cloud-based platform.

Renowned for its accessibility and integration capabilities, Xero offers invoicing, bank reconciliation, and real-time financial reporting, making it a preferred choice for businesses seeking efficiency and accuracy.

Features

• Design personalized professional invoices easily.
• Schedule recurring invoices for convenience.
• Automate payment reminders to speed up customer payments through tailored emails.
• Accept online payments via debit/credit cards or PayPal directly from the invoice for improved cash flow.
• Mobile invoicing: Generate and send invoices instantly from your phone or tablet upon job completion.
• Enable customers to pay online using debit/credit cards or their PayPal account.

What’s Exceptional?

Using Xero, you can bulk-invoice customers, saving ample time, and receive notifications when invoices are opened—a helpful feature worth noting!

Pricing

Starts at $20 /user/month

5. Sage

Sage stands as a stalwart in the accounting software arena.

Popularly known for its reliability and scalability, Sage streamlines invoicing, inventory management, and financial reporting, providing businesses with the tools they need to thrive.

Features

• Generate, modify, and dispatch invoices seamlessly within the software.
• Monitor cash flow by connecting to your bank account, instantly logging sales and receipts.
• Craft polished quotations effortlessly.
• Access impactful reports and dynamic dashboards.
• Keep tabs on project earnings, costs, and profits.
• Conduct transactions in diverse currencies.

What’s Exceptional?

Sage merges the strength and efficiency of a reliable desktop tool with safe online access and integration with Microsoft Office 365.

Pricing

Starts at $192 /user/year—free trial for 60 days.

6. Invoicely

Invoicely is a hidden gem for freelancers and small businesses seeking simplicity without compromising functionality.

Offering customizable invoices, expense tracking, and recurring billing, Invoicely serves as a reliable invoicing companion.

Features

• Connect to your bank account for real-time tracking
• Generate professional quotes with ease
• Access comprehensive reporting tools and dynamic dashboards
• Track project revenue, expenses, and overall profit
• Conduct transactions conveniently in multiple currencies

What’s Exceptional?

Invoicely offers pre-designed invoice templates, saving users the hassle of creating them from scratch, and streamlines the invoicing process by automating payments and enabling online transactions.

Pricing

Starts at $9.99/month for 2 users.

7. Wave

Wave breaks barriers with its free accounting and invoicing software, catering predominantly to small business owners and freelancers.

With features like unlimited invoicing and receipt scanning, Wave is a budget-friendly yet powerful tool.

Features

• Generate personalized invoices, estimates, and receipts swiftly.
• Automate billing with scheduled recurring invoices.
• Send automatic payment reminders for timely payments.
• Monitor invoice and payment status for better financial tracking.
• Accelerate payments by accepting credit cards, often settled within 2 days.
• Keep tabs on income, expenses, and receipts through scanning tools and bank connections.

What’s Exceptional?

Easily dispatch invoices on-the-go using free iOS and Android apps right after completing work, while Wave’s integrated tools ensure instant updates across invoicing, accounting, credit card payments, and payroll.

Pricing

It is free to use.

8. Invoice2go

Invoice2go is designed for ease of use, offering customizable templates and invoice tracking.

This mobile-friendly app empowers entrepreneurs on-the-go, ensuring efficient invoicing and payment tracking from anywhere.

Features

• Customize invoices using various templates to suit your style.
• Track invoices to know exactly when clients view them.
• Use payment reminders to save time on chasing unpaid invoices.
• Access charts and reports to monitor business performance and outstanding payments.
• Track expenses seamlessly.
• Accept debit and credit card payments effortlessly.

What’s Exceptional?

With Invoice2go, craft and send invoices instantly from your phone, syncing all your data across devices for easy access anytime.

Pricing

Starts at $21 /user/year. Free trial for 14 days.

9. Chargebee

Chargebee specializes in subscription billing management, making it a top choice for businesses operating on subscription models.

With automated invoicing, revenue recognition, and dunning management, Chargebee simplifies subscription-based invoicing complexities.

Features

• Craft stunning, detailed invoices effortlessly.
• Simplify tax handling with Chargebee.
• Use built-in metered billing to bill based on usage.
• Offer diverse payment options like cards, checks, direct debit, and online wallets.
• Access subscription management, reporting, and analytics tools as well.

What’s Exceptional?

Chargebee supports multiple client libraries catering to Net, Ruby, Python, PHP, Node.js, and Java developers.

Pricing

Starts at $249 per month

10. Zervant

Zervant brings simplicity to invoicing for small businesses and sole traders.

Offering customizable invoicing templates, expense tracking, and payment reminders, Zervant ensures a hassle-free invoicing experience.

Features

• Create and send invoices, quotes, and estimates effortlessly
• Send invoices via paper, email, or PDF attachments
• Set up recurring invoices
• Manage credit and delivery notes
• Send payment reminders
• Generate receipts

What’s Exceptional?

Zervant was chosen as the most promising fintech startup in the Nordic countries.

Pricing

Starts at $8 month

11. Maxio

Maxio is a user-friendly invoicing software that simplifies your billing process. With its intuitive interface, you can create and send professional-looking invoices.

Its automation capabilities ensure accuracy and timeliness in payments, while also offering insightful reports to track your financial performance.

Features

• Effortlessly generate and dispatch invoices, quotes, and estimates
• Dispatch invoices via various methods: printed, emailed, or as PDF attachments
• Automate recurring invoicing processes
• Manage credit memos and delivery notes seamlessly
• Send automated payment reminders
• Generate receipts for transactions

What’s Exceptional?

Maxio undergoes annual independent audits to ensure financial reporting and stringent security, availability, processing integrity, confidentiality, and privacy controls are in place.

Pricing

You can get the Essentials plan at $599 per month, but for the other plans, you need to connect with Maxio’s support team.

12. Hiveage

Hiveage is a comprehensive invoicing platform that caters to businesses of all sizes.

Offering a range of customizable invoice templates and payment options, Hiveage empowers users to create invoices tailored to their brand.

Features

• Effortlessly create and dispatch personalized and recurring invoices.
• Embed online payment forms in email templates using clickable payment buttons.
• Subscription-based billing.
• Real-time dashboard to track invoices.
• Automated reminders and receipts for unpaid invoices.

What’s Exceptional?

Small business owners leverage this secure cloud-based platform, reclaiming an average of two days monthly while alleviating the stress of managing invoicing and billing tasks, saving both time and resources.

Pricing

Starts at $16/month/user

13. Harvest

Harvest is not just about invoicing; it’s a versatile tool for time tracking and billing.

With its seamless integration, Harvest simplifies invoicing by effortlessly converting billable hours into professional invoices.

Its intuitive interface and reporting tools provide valuable insights into project profitability, making it an ideal choice for freelancers and businesses alike.

Features

• Invoicing, time tracking, expenses, and projects in one place
• Send invoices with a click, track client views
• Stripe & PayPal integrations for swift client payments
• Automatic payment reminders keep things on track

What’s Exceptional?

See all your invoices at a glance focus on open ones for follow-ups. The invoice graph shows yearly revenue, while filters track specific clients or timeframes.

Pricing

Starts at $10.80 /user/month

14. Tipalti

Tipalti is designed for global businesses dealing with complex payment processes.

This platform streamlines payment operations, handling everything from supplier onboarding to tax compliance.

Features

• Capture billable events automatically
• Create polished invoices and quotes with custom templates
• Track time and invoices
• Monitor payments

What’s Exceptional?

The integrations provided by Tipalti help you to grow your business.

Pricing

Starts at $129 per month

15.  Scoro

Scoro offers a unified platform combining project management, time tracking, and invoicing.

Scoro’s real-time dashboards provide a holistic view of project progress and financials, making it a go-to solution for businesses seeking comprehensive project management and invoicing capabilities.

Features

• Create personalized sales, prepayment, and credit invoices effortlessly.
• Automate recurring payments for quicker monthly billing.
• Promptly remind overdue payments and ensure timely transactions.
• Gain a comprehensive view of each client’s/project’s profitability.
• Access real-time dashboard insights like sent invoices and monthly revenue estimates.

What’s Exceptional?

Scoro streamlines business management by consolidating projects, clients, and invoicing into one efficient platform, saving you valuable time typically spent toggling between spreadsheets and emails.

Pricing

Starts at $26/user/month

16. Zipbooks Zipbooks is a user-friendly invoicing software tailored for small businesses and freelancers. Its simple interface and customizable invoice templates make creating and sending invoices smooth.

Its focus on user convenience extends to features like automated reminders and expense tracking, ensuring timely payments and financial organization.

Features

• Easily generate customized invoices and estimates according to your business needs.
• Simplify recurring billing with automated invoicing for seamless monthly transactions.
• Set up automatic payment reminders to ensure timely payments and smoother cash flow.
• Track and analyze project profitability with detailed insights into client finances.
• Access real-time dashboard data, including sent invoices and revenue summaries, for better decision-making.

Pricing

Starts at $15/month

17. Bill.com

Bill.com is a cloud-based invoicing and payment delay software designed to streamline accounts payable and receivable processes.

With features like invoice tracking and seamless integrations, Bill.com is a valuable asset for businesses aiming for efficiency in financial transactions.

Features

• Select between ACH or credit card for quick electronic payments.
• Choose to send invoices electronically through Bill.com or opt for paper invoices via mail.
• Customers can conveniently view and pay invoices online.
• Receive advance email notifications for upcoming payment deadlines.
• Automatic online payments directly deposited into your bank account.

What’s Exceptional?

Bill.com’s calendar displays incoming deposits and due payments, providing an instant view of your cash inflow and outflow.

Pricing

Starts at $39/user/month

18. Kashflow

Kashflow is a user-friendly invoicing and accounting software designed for small businesses. Its intuitive interface and customizable templates enable users to create professional invoices easily.

Kashflow’s automation features, including recurring invoices and payment reminders, ensure a smooth invoicing process, assisting businesses in maintaining a healthy cash flow.

Features

• Customize, edit, email, or print invoices with recurring options.
• Instantly convert quotes to invoices in a single click.
• Automate invoicing, including reminders for pending payments.
• Integrate with partners like PayPal for one-click customer payments.
• Set up automated reminders for unpaid invoices based on preferred intervals.

What’s Exceptional?

KashFlow simplifies managing small or large businesses, requiring no accounting expertise.

Pricing

Starts at $22/user/month

19. BillQuick Online

BillQuick Online is a comprehensive invoicing and time-tracking solution suitable for professional service firms.

Its project management capabilities and detailed reporting tools provide insights into project profitability, making it valuable for service-based businesses seeking efficiency in invoicing and time management.

Features

• 180 templates, batch processing, auto PDF creation, editable invoices
• Various invoice types: percent complete, retainer, recurring, fixed, etc
• Automated billing follows standard rules for project invoices
• Instant email/print options for single or batched invoices with attachments
• Customizable features: templates, batch processing, auto PDFs, edits

What’s Exceptional?

BillQuick offers project management and time tracking features and is compatible with all major browsers on PC, Mac, and smartphones.

Pricing

Starts at $19.95/user/month

Tips For Using Invoicing Software Effectively

1. Customize Templates

Tailor your invoice templates to reflect your brand and ensure clarity. Personalized invoices can leave a lasting impression and make payment processing smoother.

2. Set Clear Payment Terms

Clearly outline payment terms and due dates to make sure everything runs smoothly and smoothly. This includes specifying late fees or discounts for early payments and encouraging timely settlements.

3. Automate Recurring Invoices

For regular clients or subscription-based services, set up recurring invoices. Automation saves time and ensures timely billing without manual intervention.

4. Use Online Payment Options

Integrate various payment gateways to offer clients multiple ways to pay. Options like credit cards, PayPal, or online bank transfers increase convenience and prompt payments.

5. Regularly Update Records

Maintain accurate records of sent, pending, and paid invoices. It helps track payments, identify overdue accounts, and maintain financial transparency.

Final Thoughts

In summary, the right invoicing software can revolutionize payment efficiency. Customizable templates, clear terms, automation, payment options, and record-keeping are vital.

Picking software that fits your business is key for cash flow and client rapport.

Understanding this and following these tips will ensure prompt payments and financial management in the coming year.

FAQs

Can I use invoicing software for multiple currencies?

Yes, many invoicing software options like Invoicera support multiple currencies, allowing businesses to invoice clients globally.

How secure are online payment options integrated into this software?

Reputable invoicing software like Invoicera integrates trusted payment gateways with robust security measures, ensuring safe transactions.

Is it possible to track overdue payments with these tools?

Absolutely. Most invoicing software includes features to track overdue payments, send reminders, and manage late fees or penalties.