If you are a business owner, you’ll know how many various aspects go into running a business day in and day out. From time tracking, business organisation, and administrative and accounting tasks, things can get a little overwhelming at times. Thanks to technological advances, many businesses have been switching over to automated invoice applications to ease the stress of running a business and sending out or receiving payments to clients or independent contractors.
In this article, we will look at how invoice apps are overtaking traditional methods, and how you can streamline your accounting process by switching over to automation via an invoice app. Read on to find out more!
Invoice Apps Offer Real Time Scheduling
Think about how long it takes to prepare a manual invoice, look through it, print it and then send it out to a client. With an automated invoice system in place, you can skip all these nitty gritty steps by sending invoices out at the touch of a button. The sooner you send an invoice out, the earlier you get paid, and invoice apps assist you in doing just that.
Not only will you be able to schedule an invoice to be sent at a specific time, you’ll also be able to send an invoice directly to your client without having to run it through the company accountant or bookkeeper. Another fantastic benefit of using an invoice app is that you are able to send invoices out at any time of the day, from anywhere. Whether you’re on the train, on holiday or simply enjoying a day off, you’ll still be able to send invoices out whilst on the road. Streamlining your invoice process with an app will save you precious time, resources and get you paid a lot quicker!
Keep Tabs On That Invoice
Often, when you send an invoice out via email or post, you are left not knowing if the invoice has been received, or even if it is being processed. This is why invoice apps are so handy – you are able to view payment statuses for both current and previous invoices. On top of that, you will be able to run reports on your accounts receivable, and take note of clients who have the habit of not paying you on time. This helps keep you organised, and allows you to manage or alter your accounts in accordance.
Cloud accounting on invoice apps also allow you to keep an audit trail, making it easier for you when the time comes to pay your taxes. Instead of a folder of messy files on your laptop, you’ll have everything you need neatly organised in the palm of your hand. As a business owner, keeping track of your invoices and client payment habits is key to ensure you are not losing money, and an invoice app is by far the easiest and quickest way to do so.
Let’s Get Rid Of All That Paper!
Paperwork is a hassle – whether you’re a small business or a MNC, paperwork is something that stresses us all out and keeps us on the edge of our seats. All that organising, filing and general mess is something that often sends anxiety levels through the roof! Furthermore, many companies opt to scan paperwork and convert them into PDF files in order to save space in the office – another task that takes up a lot of time and resources.
The solution? Eliminate the entire concept of paperwork when it comes to invoicing with an invoice app. Not only will you not have to print or scan invoices, you’ll have everything stored online, archived and organised for you. As an added bonus, you’ll be reducing your overall paper usage, saving you a lot of money and conserving the environment at the same time. A win-win situation, in our opinion!
Get Paid As Soon As Possible
As mentioned above, using an invoice app is a fantastic way to ensure you are paid on time, and as soon as possible. When you get invoices sent out quickly, you’ll get paid quickly as well. Invoicing software will alert you when your client has received and opened your invoice, allowing you to keep track of payments and when they should come in.
If your invoice has been opened and you still haven’t received payment, you’ll be able to chase the issue up with your client as soon as possible. Invoice apps also eliminate the need to wait for cheques or drafts in the mail as clients will be able to pay you online, ensuring you receive your payment instantly. All this without having to deal with a post office or printers – why would you even consider traditional methods of invoicing once you’ve leaped into the world of automated invoicing?
Create Multiple Payment Options For Clients
Last, but certainly not least, one of the biggest advantages to using an invoice app is how it creates multiple payment options for your clients. With an invoice app, your clients have the option of paying you with Paypal, credit card or bank transfers. You’ll also be able to set reminders so that clients are notified when they need to pay you, another way you can ensure that you are always paid on time. With ease of payment, chances are you’ll be paid a lot quicker because your client will be able to send you a quick Paypal transfer, rather than having to head down to a bank during their lunch break!
We hope that this article has provided you with an insight into why invoice apps truly are overtaking traditional methods in modern businesses.