Did you know, 91% of accountants believe that online billing software can significantly increase their productivity?
As a business, you need to take care of income tax and GST. At the same time, if your business is liable for audit, you can also explore online invoicing software too.
However, if budget is a concern, things can be very different. This blog will help you consider the aspects you need to consider before buying Windows billing and invoicing software on a tight budget.
Things To Consider In Online Billing Software Even If You Are On A Budget
It would help if you considered these parameters before finalizing a budget-friendly online invoicing software.
1.Understand Your Business Type
Your industry, business type, and clients will play a key role in choosing your invoicing and billing solution. If you have a retail business, cash and credit payments can work for you. However, for freelancers and service-based agencies, online payment software will be needed.
For small to midsize businesses (SMBs), getting paid on time is a major issue. Besides, you will need to juggle tax information, automate follow-up reminders, create receipts, and take care of expense accounts.
This is where you will need online invoicing software. You must look for a billing solution that lets you track sales and services and maintains your bookkeeping systems. There are several free billing software for PC available in the market to get the job done in minutes.
2. Mobile App Functionality
While bills are one thing, online invoicing software can help you create them using a mobile app. This will let you generate instant invoices anytime and anywhere.
Another feature, which your chosen solution must have is creating recurring invoices. Moreover, it should let you email your bills in a few clicks. Additionally, it should let you handle multiple currencies if you operate in more than one country.
3. Tracking Cash Flow
Another important aspect that you should look for is how you will get paid. While small businesses accepted cash payments for years, allowing credit card payments have become a necessity.
However, there are certain charges for this. It can be a monthly fee or percentage of the transaction. For this, you need to read the terms and conditions carefully and even talk with the credit processor if need be.
You need to make the final decision as it may well count as an extra business expense, which you may want to avoid. Some vendors may provide a customer portal where your clients can make payments via wire transfer. There will be a fee for this too. However, it is an excellent option as compared to credit cards.
Last but not least, excellent reporting capability is something you should look for in online invoicing software. As a small business, you might not need a ton of reports.
However, you will need to know bills that have not been cleared and your revenue flow. Moreover, you would like to have functionalities that let you send reminders to clients.
Furthermore, your billing system must be able to integrate with your back-end accounting system. If a solution does not provide this facility, you might end up doing a lot of manual entries and lose out on time and money.
Top 3 Billing and Invoicing Software For Businesses
Now, you have clarity on what to look for in online invoicing software. Let us have a look at some of the best budget-friendly tools in the market. The following apps will let you fulfill your accounting and invoicing needs and build a solid brand image.
Moon Invoice is one of the finest online billing software in the market. From generating comprehensive reports to making customized invoices and automating your workflow to managing inventories, Moon Invoice does it all! Moreover, you can use it offline too and sync when you have a stable internet connection.
Vyapar lets you stay at the top of billing and invoicing by providing you 360-degree visibility of equity, liabilities, and team performance. You can use it to access accurate financial reports both offline and online.
3. Sleek Bill
One of the best free invoice software for windows, Sleek lets you expedite your billing and invoicing process. You can even choose to beautify your invoices with business colors.
With access to real-time information, Sleek makes sure that you do not miss out on any bills and ensures the smooth functioning of your payment cycle.
These were some of the tools you can buy if you are on a tight budget. Online invoicing software can help you save precious time and money by reducing manual labor.
Yet, to try out a billing software? Contact us to get a better idea of these solutions and schedule a free consultation call!