Tag - Invoice Software

10 Invoicing Techniques of Pros That Most Business Owners Ignore

Online-invoice-software

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Creating invoices on paper is practices that went outdated years ago.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

Online Invoicing & Billing Software: Key Features & Vital Elements

Online invoice software

Do you still send out printed invoices that tends to be inefficient for your business ?  The invoices send via email get lost by the customers. A lot of problems that come up with the paper-based invoicing are known to everyone. Keep track of the bills and the payments easily switching to online invoicing software. This reduces the costs and speed up payments that benefit your business. Also, send out invoices that reduces the workload in the timely manner.

No need to chase for timely payments and invoices. Look for the online invoicing software that solves all your worries and built your credibility online.

Eliminate many problems as mentioned below and keep your business more organized and efficient.

  • Inefficient management of users signups, activations, trials, upgrades, and downgrades.
  • Receive recurring payments, reconcile and manage them at any frequency
  • Options to track number of invalid payments with exact recognition of failed transactions
  • Cost center, duplicate errors in purchase order allocation that mismatches its freight
  •  The time required to fix errors is disproportionate in online invoicing process.
  • Tax return filing, special VAT invoices, administration requirement of the tax authorities are more complicated
  • Deduction of risk due to inconsistency

  • Ensure a secure connection between the company’s web server and customer’s browser
  • Managing the client account and resolving invoicing queries
  • Reducing invoicing errors and making sure that the invoices are sent to clients in a timely manner
  • Maintaining records of project expenses
  • Defining task with ease and sending out bills quickly
  • Delegating the invoicing tasks to staff members
  • Making sure that the business expenses are under control
  • Data securely stored and backup
  • Be responsive of the client details and the prospective customers who contacts you.
  • View custom reports that depends on different criteria such as customer category report, state wise, country wise, company wise report etc.
  • Integration with client management systems

Add up the key actions against these challenges to overcome and improve productivity to new level.

Out of many challenges, there are no challenges that can’t be overcome. Boost your business by taking right steps with online invoicing solutions.

Identify the plenty of ways to get over those hurdles.

Improve & Automate Processes:

  • Automate invoice scheduling and relax.
  • Create recurring invoices and retain clients.
  • Automate late fee and payment reminders to get paid quicker
  • Automation ensures better resource utilization and cost cutting.

Simplified Payments:

Integrate with Legacy Software:

  • Simplified integration with existing CRM and ERP tools.
  • API integration to integrate with 3rd party tools and eCommerce integrations.

Detailed Financial Analysis:

  • Achieve your overall financial goals with simplified reports generation.
  • Manage reports of outstanding and payments for a healthy cash flow.

Improved Document Management:

  • Manage all client estimates and purchase orders with ease.
  • Ensure all B2B documents are managed efficiently.

e-Commerce Integrations:

  • Integrate Invoicera with your e-Commerce platform and automate your e-Commerce invoicing.
  • Benefit from a smooth invoicing and payments process.

Manage Your Subscription Business:

  • Subscription billing helps in sending bills to customers on a periodic basis, improving productivity of the invoicing process.
  • This helps in retaining long term clients.

Simplified staff management:

  • Assign clients, sections and define roles for staff members.
  • Control staff activity with permissions related to tasks and accessibility.
  • Details of their last login can be checked. Estimate to invoice ratio of each staff member can be viewed.
  • Detailed time sheets of staff members can be viewed on a weekly and monthly basis.
  • Tasks can be managed effectively and efficiently. Appropriate tasks can be assigned to respective staff members.

Bespoke Invoicing

  • Customized invoicing solutions, according to specific business requirements.
  • Add functionality requirements and improve business productivity.

CONCLUSION:

Otherwise, online invoice software is a wise investment that you won’t regret to make. You have a record of all previous invoices for your customers and any details you may need in the future can be well known with the proper usage of online invoicing software. Look for very easy and quick solutions to add an item to your invoice.  Experience improved cash flow by using an online invoicing software.

FREE ONLINE INVOICE SOFTWARE FOR SMALL BUSINESS: INVOICERA

Choose the right online invoicing software like Invoicera that speeds up and simplify the business processes. The many other features includes:

 

Minimize Errors and Channelize Revenue through Online Invoicing

Traditional invoice processes are inefficient, error-prone and slow. A company that sticks to manual processing is wasting money on administration costs and unidentified invoice errors. Even worse, manual processes make it difficult to pay suppliers on time, depriving them of vital cash flow, possibly risking their very survival.

The companies that aspire and strive to have their processes streamlined, use online invoicing software to handle ten times as many invoices per person as their competitors.

Learn how you can reduce costs, improve efficiency and accuracy, and achieve desirable ROI in the relatively quick span of time.

1. Speedy Account Receivable process

accounts-receivable-management

The good online invoicing software helps you to track receivables and provides better insights into your collection process. The billing becomes right as each bill can be sent promptly and paid within the stipulated time. Stepping into the account receivable collection process can improve the cash flow by converting sales to revenues quickly.

Quick read: Ways to Optimize Accounts receivable management

2. Real-time payments that simplify business:

real time payments

The secure online invoicing software allows the customers to pay their invoices at their convenience anytime anywhere. The online invoicing software provides real-time payments for the customers. They can easily review their invoices and submit payments securely and remotely from anywhere. With so many payment solutions, Invoicera has integrated with 25+ payment gateway solutions to make relatively easy to collect payments for goods and services.

3. Lights on AP automation:

account payable management

The automated AP workflow reduces manual intervention, improves process visibility and enhances better supplier relationship management. The online invoicing software works in a centralized way to handle invoice processing for businesses of all sizes. It enables to provide accurate forecasts of cash management.

Learn More: Accounts Payable Process improvement Ideas

4. Taxes/ Late fee & Charges:

The online invoicing software helps to keep the file taxes accurate and figure out how much you owe your business. The one thing that a business owner wants to deal if your business has the record of sales invoices by maintaining an organized system.

online billing software

5. Client relationship management:

Building happy client relationships is at the core of getting a constant flow of revenue. Having regular client meetings and conversations with clients helps in understanding their requirements better.

client relationship management

WITH THIS IN MIND:

With a large number of benefits, online invoicing software addresses the issues of reducing waste, delays, and errors. It ensures timely payments, smooth transactions and better relations with the clients. Therefore companies have now switched to processing and use supplier self-service functionality to mitigate client inquiries and discrepancy resolution. Online invoicing software efficiently reduces these issues and ensures clutter free invoicing.

There has never been a better time to implement online invoicing than now!

Invoicera is equally beneficial for all business partners to improve cost efficiencies and enable faster flow of business transactions.  A properly integrated system helps to improve the ROI of the business processes. Save huge amount of operational costs by complete automation of business processes.

Online-Billing-Software

Latest e-Invoicing Trends [Infographic]

It’s no surprise that e-Invoicing is becoming more prominent with the maximum volume of invoices processed annually.

According to the recent survey and statistics,

  • – The use of electronic invoices appears less than 8 percent of the volume of invoices.
  • – The total share of invoices come up with 27 percent in Germany.
  • – The payment transaction grows up to 22 percent per annum in Europe. Also, 16 billion B2B invoices are processed each year in Europe alone.
  • – U.S. generates as many as 25 million invoices annually. It also exchanges nearly 25 percent of the invoices electronically.

The widespread adoption of e-Invoicing improves productivity and save costs!
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e-Invoicing software provides AP automation, increases compliance and eliminates paper.  An online e-Invoicing software like Invoicera helps in accurate, efficient and timely invoice/payment processing.  Here are some of the key features:

  • – Expense management and control
  • – Automatic payment reminders
  • – Integration with legacy systems
  • – Simplified vendor management
  • – Error free and professional business invoicing
  • – Custom workflow management

Best Online billing Software

Learn how 3 million users benefitted from Invoicera : Try For Free

 

 

 

 

Factors To Consider While Selecting An Invoicing Software [Infographic]

There are numerous factors to consider when analyzing invoice applications, and those factors will shift depending on your company. Cost and ease of use are probably two of the most essential, but if you’re a big organization, there’s a lot more to consider. Not only do you need to send out invoices to different customers with different billing needs, you also want to collect time sheets and expenses from different sources. So what should you search for in an invoicing software?

Factors to Consider While Selecting your Invoicing Software

Top 3 Causes of Invoice Exceptions

Invoice exceptions aren’t new but in a digitally driven world it is hard to accept the fact that 31% of the Purchase Order Invoices result in exceptions. These require manual rework before they are approved for payment. This was the outcome of a recent study conducted by one of the leading market research firms. Over 200 industry professionals participated in this research. Now let us discuss the findings of this research and discuss the three common causes of invoice exceptions

Read More

Wishing Everyone a Very Happy & Prosperous Diwali

Just dropping a quick note to let you know that Invoicera office would remain closed on Friday i.e. 5th November 2010 for the occasion of ‘Diwali’. Therefore, it would be an extended weekend of 3 days, but we would be all up and high on Monday.

Unfortunately it would not be possible to answer your queries on either support or live chat for three days. But we would make sure the system is working fine and you shouldn’t have any problems getting into your Invoicera account. We’ll all be bouncing back on Monday morning, refreshed from the long weekend and ready to tackle your toughest questions.

Multiple Language Enhancements for Trouble Free Invoicing

With multi-language invoicing recently arriving at Invoicera, it has become one of the most prevalent and widely used features amongst our users. The flexibility and expediency it brings along has benefited many and also facilitates better, powerful, efficient and localized invoicing. This was the paramount objective with which it was brought into effect.

To extent the advantage further we have made few enhancements in the way multi-language invoicing is done. Till now it was only possible to create an invoice in any language by typing that particular language and manually replacing the invoice headings. But it would now be possible to generate invoices in 11 different languages with just a single click. Read More

Recurring Forecasting Report is Now Available

In the most recent feature update your Invoicera account would now have the ability to generate future revenue reports from recurring invoices. Remember report cards that you used to dread during your school days, this one is very different. The difference is that instead of D against subjects this recurring report would generate forecasted revenue that you would potentially be earning from your recurring invoices during the entire year. Read More