Almost everything is getting digitalized; every sector is becoming paperless. Being an SME, it is never simple to introduce a digital technology system. Practically every decision a company makes is associated with cost. Managing accounts is a challenging task as a lot of transactions happen every day in any business. And that’s where the need for Online Billing software for enterprises arises.

When we talk about cloud accounting software, many of us think of ERP. But ERP is highly functional. It integrates all the business parameters, including accounts. Many small businesses avoid establishing an ERP in the company due to high initial costs and training costs.

So, Companies are often in the hunt for the Best accounting software for small businesses so that they can have seamless accounting process. Now, if we get into the detail of online accounting or billing software – there are plenty of options available on a larger scale with various features and functionality.

Now the question “Which software is best for my company?” OR “what are the traits that a Professional billing and invoicing software should possess?” Don’t worry – We have brought you the top 5 traits that online billing software for enterprises must-have.

Let’s check out the Stats Story.

Increase in spending behind technology in 2021 - Moon Invoice

Increase in spending behind technology in 2021 (Source – Accounting Today)

According to the Accounting Today survey, small companies will be spending 41% more than what they were spending earlier in acquiring and establishing new technology. There is also a rising demand for Online Billing software for enterprises.

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5 Traits of a cloud accounting software for businesses

Here are the five traits, according to us, which should be there in online accounting software.

1. Flexible and Professional Invoicing

Being an SME, if you are looking for online billing and invoicing software, then go for such software – which generates invoices within no time and also looks professional at the same time. Even the software must able to covert the initial estimate into an invoice.

When you need to bill a client every month, a year or even quarterly – the cloud accounting software should generate recurring invoices as well. The invoice billing generator tool helps you build infinite businesses, making the billing experience much more exciting. Through that, you would be able to create invoices for several firms.

2. Data Synchronisation to Cloud

For every size of the business, data is an essential component. Let’s talk about the technological advancement in the last decade. Companies want data securities, but they need a platform where information is secure and accessible to them at any time.

So, do check that the cloud accounting software which you are bringing into the business allows you to manage and access the data from anywhere – even when you are not in the office.

A Professional billing and invoicing software provide the features of backing up and recovering the data in the case of damage/failure to the system or loss of the entire device/system.

Syncing should not be limited to the Desktop or the laptop – the software you are aiming for should have the facility of Android and iOS sync.

3. Integration with different payment gateways

Online Billing software for enterprises gives the feature of payment integration. The Customer Payment Tracking functionality lets you monitor your purchases and expenditures very quickly.

Your Professional billing and invoicing software should be able to communicate your client’s financial language with numerous currency choices open. Experience no barrier to doing business when exporting goods or services overseas.

Another trait is to have automatic payment reminders; the software should know ahead about invoices and expenses; the costs have been postponed. Automate bill notifications, give invoices, and get billed on schedule.

4. Tracking of Expenditure

The software should allow you to keep your expenditures reviewed and in line with comprehensive reporting to control your company accounts and let you make better decisions.

This Online Billing software for enterprises should give you the complete break-up of the expenditures, so as you can have the highlights of where you are spending more and require attention.

The expenses should be categorized depending on the most common form of cost. Companies use this to get a rundown of top consumers and expenses and taxes in the overview study. Get yourself on to the driving seat with the trait of time-tracking invoices.

Also, there should be the facility of the tax tracing as well.

5. Insights and Reports

This is the essential trait to consider for the Best accounting software for small businesses. Account statements should be accessible to customers and retailers, which can be conveniently sorted by date. There is also a chance to produce financial reports.

Insights and Reports using Best Accounting Software for Small Businesses - Moon Invoice

If you are selling a product or in the manufacturing business, Keep correct on commodity supplies and inventory by buying orders and invoices. The graph should reflect the status of the payment using the small business finance monitoring tools.

The Professional billing and invoicing software should keep you aware of the amount payable and receivable for different clients.

Also, you should be able to generate the summary reports, including the bar and pie charts, to have a better decision-making ability for future business scenarios.

Also Read: Billing vs Accounting Software For Businesses: What Should You Know?

Bottom Line

These are not the only traits that an Online Billing software for enterprises should have; the list goes on. But these are the top 5. Suppose you are looking to switch to the online accounting service or are entirely new to this segment. MOON INVOICE is the place for you.

Get all the above-said traits and even more than that by connecting with us. We are having experience of 10+ years, and throughout the decade, we are serving various business industries. We aim to provide a seamless experience to the customers and filling the voids in their current accounting and invoicing process.

Contacts us now to schedule a demo and further business queries.