Traditionally invoices were created at the end of the week or month, printed out, and posted to the customer.
Many businesses still do this, or perhaps have advanced one step by emailing the invoice instead of printing and posting. This system is inefficient as it takes time to prepare each invoice and also increases the time that it takes you to get paid as in any event the customer still then has to process and pay the invoice, which all takes time and negatively impacts your cash flow.
This method also has further inefficiencies in that the invoice then has to be separately entered into your bookkeeping system and it is not easy to keep track of which invoices have been paid and which are outstanding.
The good news is there is an alternative – online invoicing using cloud accounting software such as Quickbooks Online. The main advantages of this method are:
- Improved cashflow – Invoices can be sent in seconds, emailed directly from the software to the customer. You can also include the option for your customer to pay directly via a link in the emailed invoice by credit card or direct debit. This is proven to significantly increase the speed with which customers pay.
- Send invoices on the go from your laptop, smartphone or tablet, helping you to use your time more productively.
- Easily produce recurring invoices and send copies of previous ones
- Instantly check if invoices have been paid. Track and view the status of any invoice, instantly and no matter where you are.
- Quickly identify invoices that are almost due or overdue. If you change or reissue an invoice, the figures are instantly updated throughout your accounts.
- Invoice details flow directly into your accounts reducing manual data entry.
- Create and send professional invoices without leaving the software. Powerful tools give you enormous flexibility in how your invoices and receipts look and what information they contain.
To find out more about online accounting and invoicing click here or call Harding Lewis on 679524 to arrange a free no obligation consultation.