Businesses undertake numerous transactions in a day which calls for the need to use automated systems of recording transactions.
All invoices must include some basic information, regardless of the method used to create them. They should include: the name, address and billing contact of the business; name, address and billing contact of the client; the invoice date; the invoice number; the amount due; any applicable taxes; itemized list of charges; payment instructions; any information necessary for completion of payment instructions such as routing number and bank account if you accept wire transfers; and, accepted payment methods and payment details including bank information if you accept bank transfers.
The first decision that people have to make when they plan to start invoicing clients is the method they would like to use. There are hundreds of options to choose from but all these are broken into three main categories as listed next:
– Free Templates: There are numerous free templates but the best are offered by Microsoft and Google; these allow you to add company information and logo thereby making them more suitable for your business. They look more professional and allow saving documents in PDF format using this invoicing software.
– Invoicing software: This level is next to the free templates, and includes software that is specifically meant for invoicing like Billquick and Harvest. Freshbooks is a common accounting software with great invoicing abilities, however, it does not have things like payroll integration so it falls into this category
– Full accounting systems: offer integrated accounting and payroll services, and allow users send invoices
• QuickBooks and other full blown accounting systems: If a business uses sophisticated accounting software such as QuickBooks and that does not need complex features such as time tracking, then it can used as best invoicing software.
• Wave: wave is best invoicing software for businesses which need to just send invoices and get pay, without any need for extra features like time tracking and integration with the merchant services account. It can be acquired free of charge.
• Freshbooks: If a business is looking for a simple solution such as Wave, but needs ability to accept payments through methods other than stripe, then Freshbooks is the best alternative.
• Harvest: For small businesses that need a time tracking software, Harvest is the most straightforward time tracking software that also supports invoicing.
• Billquick: This software is ideal for a large company that needs project management, time tracking, and an invoicing integrated into a single package.
• FieldTrack: Ideal for small business to manage and track all the invoices and also send the proposals and work order to track the scheduled tasks.