Invoicing is a necessary but time-consuming part of running a business. It is an essential part of accounts management and also leads to better growth if managed well.
Let's start by understanding more about invoices first.
What Is An Invoice Payment?
After a sale, a seller issues an invoice to the buyer of goods or services as a payment demand. It specifies what items have been delivered or completed work and the amount that must be paid in exchange.
Invoice management gets complicated as a business grows. However, the correct invoicing software can help business owners gain control and reclaim some of their time. It can also lead to increased invoice accuracy, valuable financial insights, and speedier payments, which are beneficial to your company.
Multiple factors decide the best invoicing software for your business. It includes your budget, industry, company size, and any personal preferences you may have.
A wide range of options may confuse you, leaving you with more questions than before. Plus, time is a massive constraint for business owners, so you may not be able to do extensive research in one go.
Considering all this, we have reviewed more than 30 tools to create invoices and process further - basing our selection on ease of use, pricing, additional features, and integration capabilities. The list consists of the top 6 invoicing software for 2022. Let's begin!
- FreshBooks for Ideal Overall Support
FreshBooks is a scalable invoicing solution that includes polished templates, easy payment processing, inventory management, and many other accounting tools and services.
Things to look out for -
- Recurring invoice & auto payment
- Integrates with over 100 apps
- Powerful reporting
- The functionality of the mobile app is not so good
- Fewer options for template customization
- Not recommended as a basic invoicing software
FreshBooks is in this list as the best overall invoicing software because it is affordable, accessible, and scalable for business owners, irrespective of the size or nature of their company. The software also includes a set of accounting tools and award-winning customer service.
FreshBooks allows users to customize invoices and set up recurring billing and auto payments. In addition, customers can pay by credit card or ACH, making it a win-win situation for both business owners and customers.
Invoicing and other services are available on a desktop, tablet, or mobile device (with limited functionality). However, the FreshBooks mobile app still allows you to send and review invoices.
A FreshBooks account allows customers access to time and expenditure tracking, project management, payments, reporting, and invoicing. Salesforce, Gusto, Zoom, and Spotify are among the over 100 third-party apps the program interfaces with.
Pricing: You can start on FreshBooks with a 30-day trial and upgrade to the following paid plans:
- Lite: $15 per month for five or fewer billable clients
- Plus: $25 per month for six to 50 billable clients
- Premium: $50 per month for 51 to 500 billable clients
If you seek more than the Premium plan, FreshBooks also has custom pricing for businesses that exceed 500 customers.
2. Square - Best-Suited Payment Processing Option
Square is known for assisting small businesses with online and point-of-sale transactions. Their invoicing services are part and parcel of Square's simplified payment processing method, making it the ideal choice for business owners searching for software that can perform both.
- Real-time invoice tracking
- One-click payment option for the client
- No monthly charges
- Cost can surmount due to transaction-based fee
- Invoice customization options are limited
Square is a mainstay for small business founders who require streamlined and straightforward processing for invoicing. In addition, square Invoice is one of the best apps for business owners who want to centralize their payment and invoicing needs, especially when combined with some of the additional features discussed below.
Square Invoice allows users to customize and send invoices, set up recurring invoices, and follow the status of invoices in real-time. In addition, customers may pay online from their phone or tablet using one-click payments, and 75% of Square invoices are paid within a day.
Square Invoice is free to use, and it only charges you when you pay an invoice, unlike many other invoicing programs that require a monthly fee. You have to pay 2.9 percent + $0.30 fee for each Square Invoice. As a result, Square might not be the best choice for companies with a high volume of transactions or a significant risk of fraud.
3. Invoice Ninja - To Create Invoice For Free
Invoice Ninja's Forever Free plan allows users to send unlimited invoices and estimates to 100 clients and access several account management services.
- 40+ Payment gateways
- Unlimited quotes and invoices
- Many Integration Partners integrate with various apps
- No phone support
- Limited options for integration
- A free account can accommodate up to 100 clients
Invoice Ninja is an open-source development invoicing company created to provide superior accounting services to freelancers and small business owners at a low cost. The company meets its objectives year after year, and over 150,000 organizations now use this one-of-a-kind software product.
We choose Invoice Ninja as the finest free invoicing software because of its generous Forever Free plan. Users may send unlimited invoices and quotations to over 100 clients, set up auto-billing and recurring bills, manage projects and tasks, and use a dozen more services once they've signed up for this Plan. Invoice Ninja also supports over 40 payment methods, 50 currencies, and 20 languages, making it suitable for companies with a global reach.
Pricing: The Ninja Pro plan ($10/month) lets you send an unlimited number of invoices to a total number of clients, and it also gives you access to other features, such as a custom URL. If your business requirements reach further, you can take an Enterprise Plan ($14/month), which provides further enhancements, like a fully branded client portal and multiple-user access.
4. Invoice Simple - For Heavy Mobile Invoicing
Invoice Simple is an easy-to-use app designed for business owners who are on the go. Its mobile app offers full-invoicing functionality, including payment options, at an affordable price.
- debit and credit card complied payments
- Customizable templates
- Limited free trial
- The single payment gateway for credit card transactions
- No in-app reporting
Although most of today's most popular invoicing software systems include desktop and mobile access, many mobile invoicing apps lack the capabilities of their desktop counterparts. On the other hand, Invoice Simple allows users to create, customize, manage, and track invoices and estimates directly from their phone or tablet. The software also makes it simple to accept credit or debit card payments.
Invoice Simple meets your expectations without draining your money account if your goal is to locate an effective solution to send invoices from your smartphone.
The software is simple and a top pick among Android and iOS users. On the other hand, the app does not have an extensive range of accounting operations or reports, so it might not be the ideal fit if you're looking for a one-stop shop for all your accounting needs.
Pricing: You can send up to three invoices with the free version of Invoice Simple. A monthly subscription of $6.99 or an annual subscription of $59.00 ($4.99/month) is available. Overall, the low pricing, ease of use, and high customer satisfaction make this a cost-effective and efficient tool for invoicing clients on the move.
5. Zoho Invoice For Best Automation Solutions
Zoho Invoice provides business owners with cost-effective and scalable automation and invoicing solution. As a result, it's one of the top invoicing software programs for those looking to optimize your payments and workflow.
- Fixes recurring invoices and payments
- Automations available for internal and external requirements
- Invoice in various currencies
- Custom automation requires some developer skills
- Automate only up to ten workflows
- The free service only up to five or fewer client invoices.
Zoho provides various business services to assist users with sales and marketing to accounting and financing. Zoho Invoice is a stand-alone invoicing and payment solution that allows you to customize your invoices and payments.
It also has a lot of automation options, which makes it our best invoicing software for business owners who wish to simplify and automate typical invoicing and client-related tasks.
Zoho users can set up recurring invoices and automatic payments, but the automation benefits extend past sending invoices. Zoho Invoice allows users to set up workflow scenarios that trigger email alerts, field updates, and in-app notifications. Users can also customize automation for specific procedures, like order discounts or late fees.
You have four available account plans with Zoho, each of which offers access to at least five automated workflows:
- Free: Unlimited invoicing for the first five clients (five automated workflows)
- Basic ($9/month): Up to 50 clients; five automated workflows
- Standard Plan ($19/month): Up to 500 clients; 10 automated workflows
- Professional Plan ($29/month): Unlimited client invoicing; 10 automated workflows
6. Quickbooks - If You Need Detailed Reporting
Individuals, small businesses, and not-so-small businesses alike have long relied on the QuickBooks suite of company administration software. Its robust data collection, organizing, and reporting features make it particularly appealing to anyone looking to control their company's metrics.
- You can customize the reports.
- Other QuickBooks accounting tools are also available.
- A well-stocked resource center
- Other invoicing software options are affordable compared to this
- Some users find the UI challenging to use.
QuickBooks is popular due to its wide range of accounting tools, and its invoicing capability is no exception. Users can modify and automate invoices, add billable hours, and duplicate comparable invoices to send to many customers with a QuickBooks account.
The program also includes a variety of bookkeeping and record-keeping capabilities, making it the best choice for business owners searching for detailed data on invoicing and other vital financial parameters.
Users of QuickBooks can concentrate on invoice-related metrics or expand reports to include a wide range of financial data that, when combined, lead to increased productivity and better-informed decisions. In addition, reports are easily accessible from the QuickBooks dashboard, making it simple to get information quickly.
Pricing: The package you choose determines whether you have access to invoices or other types of reporting. The Simple Start plan ($25/month) allows you to create custom tags to track spending and run general reports (e.g., cash flow, profit, loss, balance sheets, etc.). The most extensive reports are accessible under the Plus ($70/month) and Advanced ($150/month) subscription tiers.
Although the cost of QuickBooks may be a deterrent, if reporting is your primary goal, the program may be well worth the investment. It is especially true when considering the additional accounting tools QuickBooks users have access to. For 30 days, you can experience QuickBooks invoicing and reporting services for free, and you can easily upgrade to advanced reporting.
That was the list of best invoicing software with prices, integrations, and other features. Startup owners begin their business with limited working capital. Hence, they start with free tools for any service essential for business processing - calendar management, appointment scheduling, data entry, etc.
However, a challenge surfaces for business owners when they try to scale their company. Shortage of time is a persistent issue, and figuring out different tools for every new business requirement becomes a burden for CEOs.
Another primary concern for invoicing as a service is data safety.
You may end up asking - Is Invoicing Software Safe?
All popular invoicing software applications take several precautions to ensure the safety of user data. However, data security is always a concern for small and big businesses alike.
Here are a few essential factors to consider before you select an accounting service, invoicing, or for help otherwise:
- Storage: Most invoicing software firms use Cloud storage to provide users with quick and easy access to data regardless of where they are placed. Reputable invoicing software providers should ensure that your data is physically and electronically protected.
It entails storing servers in a secure location with limited access and relying on backup servers to prevent data loss if one set of servers fails. However, it is a risky way to store data.
- Transit: Consider that data is as vulnerable during transit as in storage. You can keep your data safe during transit if your invoicing software company encrypts sensitive data (e.g., banking information, SSN/EIN numbers, etc.) while received and sent.
- Pricing: It is not cheap to create invoices. Every invoice software becomes heavy on the pocket of small business owners, sooner or later. Not having required integrations or missing features can be an added problem.
As a business founder, you must be wondering what the way out is?
Hire A Virtual Assistant For Invoicing
Hiring a virtual assistant for invoice management is a prudent option for new and established businesses. A virtual assistant is a professional who fulfills your business requirements remotely. You can hire a virtual assistant for a broad range of business tasks - from administrative tasks to handling social media.
Remote or virtual assistants can be a significant value-add for startups and small-scale businesses. Not just invoicing services, VAs are capable of helping you with any accounting task.
Here are some of the benefits of hiring a virtual assistant.
- Accounting Tasks: The best part is that virtual assistants are trained to handle multiple tasks. For example, a Wishup VA is trained in 50+ tasks. So a remote assistant can help you process the bills, clients payments, vendor payments, etc.
In addition, they can help you with bookkeeping, tax-related help, and more. An invoice management software may be limited to that functionality, but a VA uses a versatile approach to help you with different requirements.
- Tracking and Organization: You may already have a system that you use for keeping track of client accounts and payments, and if so, your virtual assistant will integrate into it to keep things clear and up to date.
- Data Safety: Considering the problem of data breach, hiring a virtual assistant is a feasible solution as a VA can take care of data protection.
- Professional help: Every virtual assistant who comes on board to help you brings immense professional experience. Also, you must consider that a virtual assistant helps various business owners deal with similar problems as you. So, for instance, your virtual assistant may be assisting another business founder with invoicing. It is their specialized assistance that makes work easier for everyone.
- Cost-saving: A company can save as much as $26000 per year on operational costs by hiring a virtual assistant. You get the same level of competency and skills as that of an in-house employee.
Moreover, you do not have to set up an office or bear other employer expenses working with a virtual assistant.
How To Hire A Virtual Assistant For Invoicing?
The next step for you is to hire a virtual assistant, and for some, it may be their first hire. Some confusion is understandable; after all, it is team expansion. So, these are the steps to follow.
- Make a list of tasks you want to delegate. For example, you can make an invoice preparation checklist.
- Form a description based on the tasks you need help with. Use invoice checklist regulations in the report to ensure that only those professionals who know about it approach you.
- Post the description on social media handles
It is an excellent way to hire a remote assistant. However, most of the professionals that connect with you this way take projects freelance. They set their submission timeline and often end up delaying your work.
Connecting With Virtual Assistant Agencies
Virtual assistant companies like Wishup can make hiring virtual assistants and getting better support easier. For instance, Wishup, a top VA agency, ensures that clients can start working with their ideal business fit as soon as possible. Other advantages are -
- Wishup trains VAs in 50+ tasks, so business owners receive vital support, helping them grow multifold.
- Pre-interviewed professionals can provide you services at Wishup, so you do not have to spend time looking for the right fit.
- You can get a VA at as low as $9 per hour. How cool is that! You can start growing your business at such reasonable rates.
- No more figuring out which invoicing software works best for you, as your VA is there to do that.
Companies like Wishup focus on providing personalized support by making onboarding hassle-free. You have to be clear about what you expect from a professional - their roles and responsibilities.
There are as many solutions as problems; it is up to you which solution you use. Keeping this thought in mind, you must know that everything should work in tandem for a business to be successful.
The list started with the best invoicing software of 2022, based on its affordability and features. However, you must notice that all the invoicing apps focus on a single function and often lack integrated support, much-needed by small businesses. On the other hand, virtual assistants can figure out the best invoicing tools and help you with other accounting tasks.
Every business founder needs a team to scale their business at a certain point. Unfortunately, having a full-time employee is expensive. But fortunately, you can reap the benefits of a full-time employee by hiring a virtual assistant.
To hire a virtual assistant and get started, just mail us at [email protected] and tell us your requirements.
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