What is a Billing and Invoicing Software?

Billing and Invoicing Software allows businesses to track and manage all the invoices. Enables users to improve collections by tracking receivables, automating processes, eliminating manual errors, and running comprehensive reports. Allows businesses to optimize customer invoicing and payment processes. Billing and Invoicing Software enables users to ensure that customers pay for the goods or services they received. It simplifies the processing of large volumes of customers’ invoices and reduces accountants’ time collecting customers’ payments. Enables users to provide valuable information for the preparation of regulatory financial reporting. Allows users to match invoices, payments, and credits with quotes and sales orders to ensure the correct amounts are processed.

Billing and Invoicing Software allows users to process, record, and pay vendor invoices for purchases and services. It includes document matching, approvals, discounts, OCR invoice scanning, bill payments, cash disbursement reports, general ledger posting, etc. Allows users to scan and capture paper documents to convert them into electronic documents. Billing and Invoicing Software also enables users to store invoices in a single repository to search and retrieve invoices at any time as per requirements. Allows users to reconcile invoices and payments automatically and is marked as paid once they receive the payments. Enables users to customize approval and receive real-time notifications on transactions.

Features of a Billing and Invoicing Software

  • Enables users to see the status of the invoices and whom to contact in case of delays. It also enables users to import and export data in real-time for reporting and analysis.
  • Allows users to analyze data, create reports through configurable dashboards and data visualization tools such as charts and graphs.
  • Enables users to accept payments in various methods, such as via cash, cheque, and credit card. It also allows users to integrate with various payment services such as PayPal, Stripe, etc.
  • Allows users to store and secure data in a centralized database and track information anytime in the future using detailed categorization and advanced search filters.
  • Provides in-built templates that allow users to create customizable invoices by adding the company logo, payment terms (e.g., Net 15, Net 30), and client information.
  • Allows users to create workflows with multiple people to increase the chances of catching fraud.
  • Also provides users with all the necessary tools to create records, such as name, contacts, preferred payment method, address, etc.

List of Billing and Invoicing Software

When you start looking for the best billing and invoicing software, it is easy to get overwhelmed with the list of options available. Here is the handpicked list of billing and invoicing software to choose as per your requirement:

1. Zoho

Zoho-Billing-And-Invoicing-Software
Image Courtesy – https://www.zoho.com/

Zoho is a cloud-based billing and invoicing software suitable for businesses of all sizes. It includes time tracking, reporting/analytics, customizable templates, automated tracking expenses, etc. Provides in-built templates that allow users to create customizable invoices with the brand logo. Zoho billing and invoicing software allows users to send automated payment reminders to clients for pending payments and share invoices with team members to facilitate collaboration.

Zoho allows users to create estimates, send invitations to clients, add comments, and convert them into invoices. Enables users to collect advance payments and keep track of invoice history. Available on a monthly subscription. It also provides a free version with limited features.

Key Features:

  • Integrates with third-party applications, such as Office 365, Slack, G Suite, etc
  • Supports multiple languages, such as German, English, French, etc
  • Allows users to set permissions and determine access to individuals as per requirements
  • Also provides a mobile app for iOS and Android

To know more about Zoho Billing and Invoicing Software features and product options, click here to continue.


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2. QuickBooks

Image Courtesy – https://quickbooks.intuit.com/uk/

QuickBooks is a cloud-based billing and invoicing software suitable for businesses of all sizes. Provides a centralized dashboard that enables users to gain insights into organizational performance using key performance indicators (KPIs). Allows users to manage expenses, projects, invoices, etc. QuickBooks billing and invoicing software enables users to set permissions, assign tasks to individuals, provide access to specific individuals, and collaborate on projects with team members.

QuickBooks allows users to syncs business finance into one dashboard where multiple users can view in-depth reports and accounts of the company’s finances. Allows users to capture digital copies of receipts and automatically sort transactions based on categories. Available on a monthly subscription. It also provides a free 30 days trial.

Key Features:

  • Allows users to integrate with third-party applications, such as PayPal, Salesforce, Xero, etc
  • Also provides a mobile app for iOS and Android
  • Enables users to create custom reports and feed on them within the dashboard
  • Enables users to back up data to the cloud for record-keeping

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3. Sage Intacct

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Sage Intacct is a cloud-based billing and invoicing software suitable for small to midsize businesses. It includes accounts receivable, general ledger, real-time reporting, expense management, cash management, etc. It also provides financial reporting, operational insights, and the ability to automate critical financial processes. Sage Intacct billing and invoicing software provides in-built templates and balance sheets to track sales and analyze performance. It also integrates with third-party applications such as Salesforce, ADP, etc.

Key Features:

  • Available on a monthly and annual subscription
  • Complies with GAAP, IFRS, and SAS 70 Type II
  • Works on Windows, Mac, and Linux
  • Also provides a 30-day free trial

To know more about Sage Intacct Billing and Invoicing Software features and product options, click here to continue.


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4. Wave

Wave-Billing-And-Invoicing-Software
Image Courtesy – https://support.waveapps.com/

Wave is a cloud-based billing and invoicing software suitable for small businesses. It includes invoicing, billing, payment tracking, credit card processing, receipt scanning, etc. Allows users to manage accounts and credit card information in real-time to improve bookkeeping accuracy and efficiency. Wave billing and invoicing software also enables users to generate reports, such as balance sheets, sales tax, cash flow, etc. Allows users to send payment links and invoices via email to collect payments.

Key Features:

  • Allows users to choose customizable invoicing templates as per requirements
  • Provides a mobile app for iOS and Android
  • Available on a monthly subscription
  • Also available for free with limited features

To know more about Wave Billing and Invoicing Software features and product options, click here to continue.


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5. FreeAgent

FreeAgent-Billing-And-Invoicing-Software
Image Courtesy – https://www.freeagent.com/

FreeAgent is a cloud-based billing and invoicing software designed for small businesses to manage invoices, expenses, tax returns, etc. Allows users to set up recurring invoices and send reminders to clients to make payments. FreeAgent billing and invoicing software provides updates and reminders about deadlines and tax dues. Provides a 256-bit secure socket layer connection that allows users to secure data.

FreeAgent allows users to track expenses by uploading a receipt photo with a mobile app. Enables users to send a thank-you note via email after receiving client payments.

Key Features:

  • Integrates with third-party applications such as Zapier, Paypal, Stripe, etc
  • Available on a monthly and annual subscription
  • Provides a mobile app for iOS and Android
  • Also provides a 30-day free trial

To know more about FreeAgent Billing and Invoicing Software features and product options, click here to continue.


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6. ZipBooks

Image Courtesy – https://zipbooks.com/

ZipBooks is a cloud-based billing and invoicing software suitable for small to midsize businesses. Allows users to create customizable invoices with logos, themes, and messages. Enables users to imports transactions and generates real-time expense reports automatically. ZipBooks billing and invoicing software allows users to create and assign tasks to team members and track performance with an in-built time tracker. It also provides a free version with limited features.

Key Features:

  • Enables users to create estimates and convert them into invoices once approved by customers
  • Allows users to send payment reminders to a customer via email automatically
  • Allows users to integrate with third-party applications, such as Google Drive, Slack, Asana, etc
  • Also supports multiple currencies

To know more about ZipBooks Billing and Invoicing Software features and product options, click here to continue.


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7. Kashoo

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Kashoo is a cloud-based billing and invoicing software designed for small businesses to automate bookkeeping tasks. Allows users to categorize and reconciles expenses with bank and credit card transactions to provides accurate and real-time reports. Enables users to match the deposits and payments of the customer. Kashoo billing and invoicing software also allow users to set up recurring invoices that can save time.

Kashoo allows users to forecast and make decisions with instant insights into monthly and annual expenses, income, etc. Enables users to set permissions and determine access for individuals as per requirements. It also offers a 14-day free trial.

Key Features:

  • Allows users to match a transaction by uploading a receipt
  • Allows users to create customizable invoices
  • Provides a mobile app for iOS and Android
  • Provides Optical Character Recognition (OCR)

To know more about Kashoo Billing and Invoicing Software features and product options, click here to continue.


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8. KashFlow

KashFlow-Billing-And-Invoicing-Software
Image Courtesy – https://www.kashflow.com/

KashFlow is a cloud-based billing and invoicing software suitable for businesses of all sizes. It includes invoicing, estimation, purchase management, reporting, etc. Allows users to create invoices and set alerts and notifications to receive an email when a payment is due. KashFlow billing and invoicing software enable users to send an automatic reminder via email to their clients. Enables users to file VAT returns directly to HMRC and create a journal report.

KashFlow allows users to create estimates and can convert estimates to invoices. Allows users to generate financial data graphically, such as balance sheets, customer history reports, trial balances, etc.

Key Features:

  • Integrates with third-party applications, such as PayPal, DropBox, etc
  • Available on a monthly subscription
  • Provides a mobile app for iOS and Android
  • Also provides a 30-day free trial

To know more about KashFlow Billing and Invoicing Software features and product options, click here to continue.


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Conclusion

Billing and Invoicing Software eliminates manual processes and reduces accounts payable workload, human error, and fraud to speed up day-to-day accounts payable processes. Allows users to manage large volumes of invoices and financial transactions. Enables users to escalate bottlenecks and ensure timely processing and posting of invoices. Billing and Invoicing Software also provides a mobile-optimized solution that enables users to view and manage invoices from anywhere at any time.

Billing and Invoicing Software allows users to automate their receivables processes and improve collections. Enables users to manage their customer accounts with detailed information and reporting quickly. Allows users to specify the currency on the invoices. Enables users to create reports and analytics on the status of invoices, payments, customer credit, and transaction history.

Featured Image Courtesy – Photo by Joshua Mayo on Unsplash