Online invoicing is a fantastic tool for every business that you must take advantage of. If you are still not completing invoices online, using specialist accounting software, you could be missing out on a range of benefits as well as losing money with your current invoicing process.
Roger Hatherall & Co can provide all businesses with a range of accountancy services, including your invoices. Working throughout Bath, we always use the best accounting software to meet your needs.
One of the biggest benefits of online invoicing is the speed that you can send your invoices at. It s no secret that the sooner your invoice is sent out, the sooner you will be paid. As you want to receive your money quickly, having software that allows invoices to be sent out without any delays is ideal.
If the software you currently use does not allow you to schedule invoices and automatically send them out, you could be missing out on early payments and it could lead to customers being confused regarding their payments. For the most efficient service possible, you should make sure invoices are sent out nice and early. If any payments are then missed, you can quickly chase up the customer to make sure you receive your money.
Having faster invoicing should always lead to you getting paid faster. Whether this is through the invoice reminding a customer or allowing you to follow up the invoice by contacting the customer.
With invoice tracking, this ensures you can match each invoice to the payments and transactions your business has for income. Tracking these transactions is essential for end of year accounts and when making tax returns. Whilst you may complete bookkeeping, having online invoices available as well means you can clear up any potential errors made with your bookkeeping.
If you notice any unusual figures or you are unsure about certain finances, you can simply use online invoicing to look at your invoices and recorded payments, easily identifying any errors. This should reduce the number of errors in your bookkeeping, often caused by Human errors. Additionally, any conflicts regarding finances should be settled quickly.
With online invoicing, you will also reduce your business paperwork. No one wants to be continuously storing more and more paperwork and online invoicing will help reduce this problem.
Help Your Clients
Your clients are also prone to Human errors and without the help of online invoicing, they may also forget to make payments and track their expenditure. Online invoicing will first and foremost help your business succeed, but this should also be beneficial to all your clients who make payments to you.
Having easy payment methods and quick invoices will always reflect your business positively, as well as making it easier for clients to work with you. Using the best possible accounting and invoicing software, your business should find managing invoices and finances much less stressful.