Sometimes it is impossible to make your customers enjoy paying their bills, but you can always make the payment process quick and simple for them. You can offer customers new payment channels like electronic payment channels and mobile payment networks. There are a number of products available to help you get a better handle on your billing and invoicing operations.
This software can track your sales or services rendered such as who was billed, the fees or charges applied, and when payment was received (or when it was supposed to be received but wasn’t). It also provides you with a data path to record all of that data in your other accounting and bookkeeping systems. In accounting terms, this workflow is an element of Accounts Receivable. There are smaller businesses which still maintains these kinds of records and prepare invoices using a spreadsheet or word processing application while some use specialized software apps that perform the task quicker, more easily, and with much less effort and the best part is, many of them are inexpensive or even free to use.
- The Free version is available.
- It has Robust billing functionality.
- You can use Project tracking features for hourly billing.
- It has Strong documentation.
- It Lacks Zoho Inventory integration.
Bottom Line: It has a solid billing platform for small to midsize businesses (SMBs). It also integrates with much of the Zoho ecosystem making it even better.
- It has an Exceptional user experience.
- It provides new team collaboration tools, estimates, and projects.
- It can handle multiple businesses.
- It has also got context-sensitive settings.Cons:
- It does not record products.
- Lacks in inventory tracking.
- It does not consist of expansive customer records.
Bottom Line: The new FreshBooks is a refined, intuitive online accounting system. For freelancers and sole proprietors, it is the best choice. Though, it still lacks inventory tracking and a few other features from the preceding version.
- It has an exceptional user interface and navigation.
- It can easily track expenses and income.
- Has automatic mileage tracking.
- You can assign business transactions to Schedule C categories.
- It can also Estimate quarterly income taxes and OCR capability.
- Lacks direct integration with e-commerce sites.
- It does not record data, time tracking, project tracking, or recurring transactions.
- Invoices not customizable or thorough.
- No estimates or sales tax.
Bottom Line: QuickBooks is a Self-Employed tool to make it a good fit for some freelancers and independent contractors, but others will miss standard features like time tracking, project tracking, and estimates.
- You can get detailed records and transaction forms.
- It can track inventory.
- You can customize reports.
- It has online Quotes.
- A better smart list.
- An exceptional online support.
- Payroll tax management is not available for all states.
- It does not have a dedicated time tracking or project management.
- Lacks in phone or chat support.
Bottom Line: Xero is an exceptionally great double-entry accounting app that excels at many of the basics a small business might need, such as records and transactions which support sales and purchases, payroll processing, and inventory management.
- Perfect for any business type like a start-up or, restaurants, NGO, or creative studios.
- Leverages a white label solution on the cloud
- You can easily customize invoices, billings or reports
- It Includes multi-currency feature
- You can make a detailed contract or proposal.
- Is GST enabled
- You can find local accountants near-by easily
- The trial version is only for 30 days
- UI/UX is little complicated
- The Mobile app has limited feature constraints
Bottom Line: And Co is a solid invoicing tool aimed primarily at freelancers. It’s good for its target market, though it’ll have some inflexible limitations for those who need more features from their billing system.
Billing and invoicing software can manage your finance process easily. Businesses can use it to improve different financial processes to make them more efficient.