An invoice is a commercial document that itemizes and records a transaction between a buyer and a seller. Now creating an invoice can be very time-consuming, as one has to write down one's information and the client's information, set the currency, indicate the date of the invoice, etc. One needs to make sure that the client's bills are accurate and generated quickly which again takes a lot of time. So, the process is too lengthy and now to reduce the work, comes the use of the best tool.
Every year the number of small businesses and freelancer is increasing and with this increasing number of businesses the need of invoicing tools has also raised. According to Upwork, in 2017 there was over 57.3 million people freelanced and most of the freelancers are likely to freelance by 2027. Most of the freelancers and small businesses use electronic invoices as it reduces the cost by 60-80%.
We are living in a digital era where most of the thing we came across in our day to day life is now becoming digital. Where the electronic invoicing tools are playing an important role, as these invoicing software are now able to automate pretty much everything and making it 'paperless' when it comes to accounting. With the help of these tools or software, you will be able to get payments faster which will help you to reinvest money in your business quicker and respond faster to the fastest-growing market. So if you hate invoicing or want to automate the accounting of your business. Then, below we've listed the best billing and invoicing tools to choose from.
Best Billing and Invoicing Tools
Invoice Quick is one of the best invoicing software for small businesses and also for self-employed people. It allows the user to create invoice templates and then download them later as PDFs. Invoice Quick offers a very straightforward as one can customize the invoices with a log, indicating the client's and also the user's personal information, set the currency and include the product's or service's description, along with the bill. Invoice Quick has two pricing plans which are Standard Plan and Professional Plan. Standard Plan is a free plan but it is limited to 3 customers and the charges of Professional Plan is $9 per month which allows unlimited customers. It is a very easy tool to use as one has to spend less time on paperwork and spreadsheets while creating invoices or bills.
FreshBooks is a smart accounting solution now being used by 5 million business and freelance accountants worldwide. FreshBooks is the holder of Finances Online's Best Accounting Award for 2018 and also has the highest customer satisfaction reviews. With FreshBooks, one can collect payments online via PayPal, Google Checkout or any Credit Card. It is a reliable and fast accounting tool that allows complex financial management into an enjoyable experience as it makes creating professional -looking invoices a matter of a few clicks. FreshBooks is also available for both Android and iOS, allowing the user to run business everywhere, using mobile devices.
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QuickBooks Enterprise is an end-to-end accounting solution to cater to the needs of high -growth business. The platform offers a robust set of functionalities that keeps the user or the firm at the best of their finances. One can get access to sales and customer management and also gets to handle the invoices easily. QuickBooks Enterprise has three paid plans, Silver $1155/year, Gold $1502/year and Platinum $1848/year, each plan offers a free product tour. QuickBooks Enterprise offers a fully integrated solution, automated reporting, user-friendly interface and also seamless integrations.
Zoho Invoice is a cloud invoicing system designed to meet in particular the needs of small and developing businesses, hence it is a great tool for crafting and distributing invoices. Zoho Invoice is quick and on-point and enables facilitated time tracking, online payment acceptance, automated reminders, etc. Zoho Invoice has one free plan and three paid plans Basic at Rs. 2,499 per organization/year, Standard at Rs. 9,999 per organization/year and Professional at Rs. 19,999 per organization/year. You can create invoices for only up to 5 customers. Zoho Invoice is also available for Windows Phone, iPhone and Android. It also offers free email and phone support.
Wave is an invoicing tool which aims to support small business owners, which is quite rare. Wave is an award-wining financial software which specially designed for entrepreneurs, it is one of the most useful invoicing and accounting tools for small businesses and also freelancers. Wave is a cloud-based tool that helps to generate and send out invoices, generate reports about your finances, perform accounting, payroll checks, track receipts, scan receipts, etc. Wave is free and can be used for an unlimited number of users, guest collaborators, and income & expenses tracking.
Xero is one of the most leading names on the list of software for invoicing. It is known as a software that meets the needs of companies of all scales and industries. Xero focuses on the customer experience and also it comes with a free trial version to check by the users. Although, Xero has three business plans, Starter $20/month, Standard $30/month and Premium $40/month. Xero is easy to set up and comes with many features such as streamlined transactions, financial health monitoring, inventory management and also a large number of useful integrations.
Brightbook allows managing the invoices and accounting for multiple companies and accounts, and most importantly it is free. Brightbook allows the user to calculate the profits and losses, generate tax reports, get insights into how much money the clients owe the user, create and send professional-looking branded invoices for the clients. One can add multiple users and select who can see what, adding an extra addition of privacy and security. It allows the user to create invoices from the client's quotes, once one receives a quote it can be converted into an invoice in just one click. The unique features of Brightbook make it one of the most useful and popular tools for small businesses, startups, freelancers, contractors, etc.
InvoiceOcean is online invoicing software which focuses on speed as one can create a professional-looking and accurate invoices in just 30 seconds, making it a big-time saviour. The software automates the creation of invoices by providing auto-completion based on the data that the user has entered and also adds pre-defined VAT rates, as one picks up a suitable rate. InvoiceOcean has one free plan which is limited up to 3 invoices per month and three paid plans Basic $7.20 per month, Professional $ 14.40 per month and Enterprise $ 25.60 per month. The Professional plan is the most popular plan which offers unlimited invoices and estimates. Once the invoice is generated, one can send the link within an e-mail to the client, directly via the software and then the client can view it online or can download it as a PDF.
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Invoice Generator is a web-based invoice creator with the basic features and because of its simplicity, it makes it perfect for anyone interested in generating invoices without any difficult features. The tool is minimalistic and easy to use, one can add clients and their information, indicate the sum to be paid and the payment terms, as well as the company's logo, before sending the invoice to the clients. The Invoice generator also allows the user to save templates for similar invoices, add notes and provide information on payment fees, payment methods and also schedule the delivery to the client.
Tipalti is another popular platform for billing and invoice alternatives which works for best-in-breed financial management practices to keep the business in the customers' loop. Tipalti is known for tackling problems such as late payments, administrative overload, non-compliance etc. The tool allows streamlining the way users make payments to customers, partners, vendors, and all other people is affiliate across to 190 countries across the world, making it a popular platform to use for invoicing and billing. Tipalti provides payment automation, supplier management portal, simplified management, KPMG-certified app etc.
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If you are a startup, you really need to have a billing and invoicing tool to manage your accounting. This list is mostly focus on the need of startups. According to some users, the best one of them can be Zoho. But you should do your own research. Go to their website and know their offerings. Check whether you are getting what you need for your business.
If you are already using any other tools for invoicing or if you want to recommend any tool then let us know in the comment below.