6 Characteristics of a Business Invoicing Software
Business owners cannot be thankful enough for the development of invoicing software that has proved to be an elemental tool in a variety of business transactions. Billing software enables you to generate and send customized invoices to your customers with some giving you options to create and send invoices at specified intervals automatically—whether it is weekly, monthly, or annually.
Invoicing software can also generate financial and tax reports to give you an overview of your business’s financial position. Having had an idea of the capabilities, let’s delve into the characteristics you should look for in billing software.
- Easily Navigable
User-friendly invoicing software should be easily navigable and have a simple interface. You are looking for a tool with a homepage that provides you quick access to a variety of options such as total income, expenses, and simple graphs. Purchase software that you can understand quickly. You certainly don’t wish to keep figuring out where to find the invoice, contacts, expenses, and quotes functions in your software.
Billing software should not be a tool for testing entrepreneurs’ proficiency and background in accounting. Good software should be free of accounting jargon, which only serves to complicate operations. You want a tool that automates the complexities as you create invoices, add expenses, or enter payments. Having an accountant can be an excuse of acquiring a’ jargony’ software, but don’t forget that you will need to view the financials personally, whether in or away from your office.
- Remotely accessible
If you are looking for software to use in office environments only, you might consider purchasing and installing desktop software. Nevertheless, there are plenty of benefits associated with cloud-based business tools. If you are a business owner looking to remotely manage business financials once in a while, whether you are traveling or at home, cloud-based software is the right option for you.
A web-based tool will also give your employees the freedom to perform some tasks while away from the office. An online invoice generator will allow you to bill your customers while seated on a couch in your home or a chaise at a beach hotel. Some providers will also offer you mobile apps through which you can complete essential tasks quickly and monitor critical information.
Most invoicing software providers offer both monthly and annual payment plans. Although both subscription plans are optional, acquire an affordable tool that will enable you to undertake the basic invoicing operations. When searching for billing software, compare options from different vendors while paying attention to their features and prices. As an entrepreneur, you want a tool with essential functions and one that will not cost you an arm and a leg. Leave the complex, features-loaded, expensive software to financial experts since you only need the basics for your business.
- Multi-user capability
Multiple users should be able to access your billing software. As much as you are looking for multi-user software, you also want to control the data the users can view and the tasks they can accomplish. You may allow your partner and accountant to fully access the software but restrict other employees to a few functions such as tracking customer invoices. Conventionally, there is no additional cost for multi-user capability, but some vendors may require you to subscribe to costlier plans to access the feature.
- Excellent customer support
You may come across hurdles when using your invoicing software. You may have burning questions regarding the software’s features and/or payment plans. You may also have a hard time accessing your account. These are some of the issues that require standby customer support to help you troubleshoot the problems and answer your queries as quickly as possible. Common ways of contacting customer support include emails and calls, but most providers are now integrating 24/7 live chat in their software to help their customers out promptly.
Invoicing software allows you to create invoices, generate reports and statements, add expenses, and enter payments. The software can be cloud-based or installed in a computer, and you can subscribe to monthly or annual payment plans depending on your software vendor. User-Friendly billing software should be accessible, easily navigable, and affordable, among other characteristics outlined above.