Invoicing Software for Small Business: Top 3 Invoice Tools

By
Joanna Okedara
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    Invoice management is an essential part of a business accounting and billing process. The best invoicing software for small businesses will help you to keep track of payments, inventory control, and cash flow.

    Key Takeaway - Manual invoicing takes time and is stressful. Imagine having to create invoices, send them out, follow up on overdue business invoices, and keep track of all paid and unpaid invoices. Implementing a small business invoicing software will optimize and streamline your invoicing process.

    However, before choosing an invoice processing platform that can create invoices for small businesses, it is crucial to understand what is an invoice. There are various invoices, and understanding what an invoice is will help you create the right kind of invoice for your customers.

    For instance, b2b eCommerce businesses that operate a subscription billing service will send recurring invoices repeatedly to customers. Recurring payments can become difficult to track without the right invoicing tool.

    If you are looking for the right invoice tool for your business, look no further. This article reviews the best invoicing software and what to look for when choosing one for your business. 

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    What is an Invoicing Software?

    Invoicing software is a tool that automatically creates billing invoices for goods purchased or services rendered. An invoicing tool can streamline the way you create invoices for customers.

    Most invoicing software comes with ready-made and customizable invoice templates that you can use for your business. You can create simple invoices or professional-looking ones, depending on the type of transaction.

    Small businesses are already swamped with other activities, from warehouse inventory management to eCommerce marketing. It is crucial to implement an easy-to-use invoice system for small businesses.

    Using online invoicing software has a lot of advantages over traditional paper invoices. For instance, online invoicing tools can help you generate invoices with a few simple clicks-to streamline the process even during seasonality in business. You can also speed up invoice payment processes.

    It is possible to change the whole outlook of your accounting and billing processes when you use an invoicing tool. Let’s discuss some of the top benefits of using invoicing software for small businesses.

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    5 Benefits of Invoice Software for Small Business

    The right invoicing software will offer you the following benefits and more:

    1. Streamlines Billing and Payment Processes

    With an invoice tool, businesses can easily send billing invoices to customers to request payment for goods delivered or services rendered. Some invoicing software integrates with online b2b payments platforms making it easy to accept payments online.

    1. Designs Customizable Invoice Templates

    Another great benefit of using invoicing software is that it allows you to create invoices from ready-made templates. You can also build the invoice from scratch adding your brand elements such as brand logo, colors, and fonts.

    1. Integrates With Subscription Management Software

    Businesses that offer subscription billing solutions usually send recurring invoices as well as consolidated invoices to customers. Small business invoicing software can integrate with subscription management software and streamline your automated billing and recurring invoice payment processes.

    1. Tracks Financial and Accounting Metrics

    Using invoices can help you track paid and unpaid bills. It makes it possible to forecast the monthly cash flow into your business. The financial statements and reports of an invoicing software can also help you determine your customers’ buying patterns, peak seasons, the average length of a billing cycle, and high demand products. With this data, you can create the perfect distributor marketing strategies to reach your customers.

    1. Reduces Late Payments

    Using invoicing software makes it easier to receive payment on time. You can send notifications to customers for overdue payments. Some invoicing and billing software have notification features that will alert you when there are failed payments.

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    Top 10 Invoicing Tool Features

    So, what are the top features to look for when choosing an invoicing tool? Let’s find out.

    Here are the top ten features of the best invoice software for small businesses:

    1. Provides ready-made and customizable invoice templates.
    2. Creates a database to store customer information and transaction records.
    3. Allows secure processing of credit card information to manage recurring billing processes.
    4. Integrates with payment processing platforms.
    5. Enables multiple currency settings.
    6. Makes it easy to record taxes.
    7. Sends notifications of late and failed payments to customers.
    8. Complies with PCI regulations.
    9. Offers a safe and secure payment gateway for payment processing.
    10. Manages customers’ accounts and provides an easy-to-use interface.

    3 Best Invoicing Software for Small Business

    There are a lot of invoicing software and tools online. However, only a handful can offer the top features listed above. Let’s look at the three best invoicing software for small businesses:

    1. BlueCart

    BlueCart is an all-in-one eCommerce invoicing and payment software for small businesses in the hospitality, wholesale, and restaurant industry. The software makes it easy to request and accept payments online. 

    With this platform, you can create and send digital invoices. BlueCart also allows you to download, print, and mail invoices to your customers.

    You can use the various available customizable invoice templates. The software allows you to personalize the chosen templates with your logo, payment terms, invoice numbers, order comments, and much more. 

    BlueCart allows you to take advantage of the automatic invoice reconciliation features. Businesses can also enjoy BlueCart’s digital ordering system and streamline the order fulfillment process.

    Additionally, you can integrate BlueCart’s subscription management system with the invoicing tool features and set up recurring invoices for recurring payments. BlueCart also makes it easy to issue a credit or debit memo and process a return.

    1. Scoro

    Scoro is another invoicing software for small businesses. The software allows you to create customized invoices from premade templates and from scratch. 

    You can easily set up recurring invoices and automated reminders for overdue and late payments. Scoro also offers an easy-to-use dashboard that allows you to view real-time data of customers’ accounts and transaction history.

    1. FreshBooks

    FreshBooks is an invoicing tool that allows you to track billing transactions and create personalized business invoices. This tool sends you real-time notifications of when your customers view your invoice.

    You can track overdue invoices, charge late payment fees, and automatically schedule payments with FreshBooks. Another great feature is FreshBooks integrates multiple language settings, allowing you to send invoices in your customer’s preferred language.

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    Frequently Asked Questions About Invoicing Software for Small Business

    Investing in invoicing software is not a waste of time or money. With the right software, you can set your small business finances on track for success. Let’s answer some common questions about invoicing software for small businesses.

    What Is the Best Invoicing Software for Small Businesses?

    There are numerous invoicing software tools for small businesses. However, before choosing one for your business, ensure that it has the right features to support your billing processes. Here are the five best invoicing software for small businesses:

    • BlueCart
    • Scoro
    • FreshBooks
    • Zoho invoices
    • QuickBooks

    What is Invoice Accounting Software?

    Invoice accounting software is a tool that allows businesses to create and send invoices to customers. An invoicing software can integrate with other billing processing systems to streamline your entire accounting and billing process.

    How Do I Make an Invoice for a Small Business?

    You can make invoices for your small business with simple invoicing software. While you can use free invoice templates for one-time purchases, online invoice software will help streamline your invoicing process. Using paperless billing software eliminates the stress of manual invoicing and billing and speeds up the process of getting payments from customers.

    Get on With It Then

    Invoicing software can make a lot of difference to your business finances. Tracking transactions and staying on top of payments is important for small businesses. With the right software, you can even forecast and plan your inventory supplies and reduce excess inventory.

    Using an all-in-one eCommerce management system like BlueCart will help you save costs and time. You can manage your entire billing process with a single click and streamline your business at the same time.

    Book a Demo
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