If you’re a business owner, then you are probably aware of how important it is to make customers pay on time. Yes, almost all of the customers do pay at some point, but how you organize and collect that money from your customers definitely counts – especially if you have a small business.
The main pool of money for any small business is its receipts from customers, so any delay in those can cause a significant problem for the entity.
Fortunately, technology has made it very easy for non-accountants and other people to manage small business finances. With the advent of invoicing and billing software, it has become extremely easy to create and send out invoices to your customers.
In this article, we discuss the features of good invoicing software, and how to choose the best invoicing software for small business. If you are a small business owner who is not so tech-savvy, you should definitely keep reading as we have included some very useful tips to help you out.
What is Invoicing Software?
Ideally, billing customers for rendered products and/or services should bring your satisfaction and joy, as you know you are making money. However, many business owners often find themselves agitated with their invoicing system – and rightfully so, as manually preparing invoices for each of your customers can be quite hectic and frustrating.
This is particularly true for small businesses, as they are more of a one-man-show where the owner has to deal with the suppliers and customers and also perform day-to-day tasks of the business, which includes billing customers.
So what do you do? The answer is simple: get an invoicing software.
As the term suggests, invoicing software is a tool that generates customized bills for the products and services a business has provided to its customers. Each invoice generated by these software contains a varying list of products and services along with their corresponding costs, and the total amount the customer is obliged to pay. This software usually prepares the invoice using ready-made templates, mostly professional ones, that you can either print or email your client directly.
Invoicing software is usually integrated with the order management software so invoices are automatically prepared as orders are sent out to individual customers.
What Does Invoicing Software Do?
The primary purpose of any invoicing software is to generate invoices, but that is not it. Here is a list of functions that efficient invoicing software can perform:
Create Quotes & Estimates
If you have a wholesale business, chances are that you have to give quotations to prospective clients on daily basis. Of course, people want to know how much the product(s) will cost them before they place an order.
For this purpose, you would most probably want in invoicing software is the ability to create quotes itself. Most invoicing software have a ready-made template that you can use to create quotations. However, not all options are created equal in this aspect so make sure you check this feature first.
Convert Quotes into Invoices
Once the client accepts the quote and places an order, the next thing you need to do is deliver their order and prepare an invoice. Doing this manually would mean rentering all the data that was included in the quote, but an efficient invoicing software can save you time and effort by converting the quote into an invoice.
With the right invoicing software, you can prepare invoices from quotes instantly. This helps your streamline the order process, save time, and most importantly, collect payments from your clients timely, which is essential for small businesses.
Store Certain Values and Expenses
Wholesale business usually have a limited range of products, so it is better if you get invoicing software that can store the prices of every product. This will save you the hassle of inputting values every time you prepare a quote or invoice for a customer.
The values or expenses are usually saved in the form of drop-down lists. Since these lists are customizable, you can always add or remove values from it. You can also edit previously-saved values in case the prices or quotes change.
Give Alerts & Reminders
While getting more and more orders is great for your business, it can also make it difficult to keep a track of receipts from customers, especially if you have a wholesale business as credit dealing is common in this business model.
Fortunately, with good invoicing software, you can track all your receipts easily. Such software usually has a payment deadline option, so you can set a date and in case you forget, the software will remind you about overdue statements and due dates.
Now that you are aware of all the functions an efficient invoicing software can perform, the next step is to finally choose which one to go for. Although there are several options available out there, OrderCircle’s best invoicing software for small businesses beats them all.
About OrderCircle’s Invoicing Software
OrderCircle is a B2B e-commerce company that offers innovative solutions for wholesale businesses. From inventory and customer management to shipment tracking and invoicing, OrderCircle has solutions for all key elements of wholesale business to make the job much easier for you.
OrderCircle offers the best invoicing and billing software for small businesses that allows you to generate order invoices, packing slips, and pick lists automatically. With this software, you can simply log into the admin portal, create the order, and then send your customer an invoice for the method of payment they choose.
Here are some features of our efficient invoicing and billing software:
- Professional-grade Invoices: OrderCircle’s invoicing and billing comes with multiple options and features to seamlessly create professional-grade invoices and send them to your customers through their desired channel of communication. You can access the invoicing feature directly from your OrderCircle portal.
- Packing Slips for Shipments: Eliminate confusion by putting a customized printed packing slip on the packaging of each order. This way, your customer will know exactly which items were included and if any items are arriving in a separate shipment. These personalized slips can be generated from OrderCircle’s invoicing and billing software.
- Customization: With OrderCircle’s invoicing and billing software, you can change or edit the invoice with just one click. You can add new items, change prices, and do everything else that will help you customize the invoice and show a clear picture of the transaction for both yourself and your customer.
- Pick Lists for Warehouse: Picklists show all the items that need to be dispatched on that specific day. OrderCircle’s invoicing and billing software helps you prepare a picklist for all orders so your warehouse team can plan their day accordingly with the number of orders that need packing.
Why Choose Us
OrderCircle’s invoicing and billing software is particularly built keeping in mind the needs of our customers and small business owners. The software is both user and mobile-friendly, so it will be very easy for first-time users to navigate through.
We also offer a full portal from where you can manage inventory, orders, and customers besides invoicing and billing.
The best part? We have a free trial along with a 30-day money-back guarantee under which you can claim a refund if you are unsatisfied with our software and services. We can assure you that you will not be disappointed, but even in the worst-case scenario, you have nothing to lose when you sign up with OrderCircle.
Interested in finding out more? Request a live demo or start your free trial today!