Finance is the center of every business, and invoicing plays a vital role in the cash flow. Without proper cash flow/ payments, no company or individual freelancer can survive. Whether you are an individual freelancer, a contractor working remotely, or a small business, invoicing management plays a vital role. Email, face-to-face transactions, and hard copies are some of the traditional methods of invoicing. The conventional invoicing methods lead to several challenges ranging from the hard copy going untraceable to the payer losing track of payments to multiple freelancers/ contractors.
Thanks to the invoicing software providers invoicing is not a challenge anymore. Freelancers manage various roles, invoicing multiple clients, and following up for payments may get overwhelming to manage. Manual methods of raising invoices and making cash-based payments led to multiple challenges like erroneous payments and billing. The modern invoicing techniques like electronic transfers, card payments, and online invoicing help reduce errors and enable users to create professional looking invoices and thereby improve their branding and get paid faster.
Benefits and features of an invoicing software
Using online invoicing software can reduce late/ missed payments, fraudulent activities, and enable businesses and individuals to manage their professional image and streamline the accounting process. Customized invoicing templates, new invoice creation, multiple currency setting, invoicing, payment, and tax reporting are some of the salient features of invoicing software. An invoicing software enables users to generate invoices from any location, create invoices effortlessly, and more accurately and integrates the invoicing system with an existing business system. Invoicing software is available with online and cloud-based versions with tons of exciting features and suitable pricing plans.
Factors to consider when deciding on an invoicing software
There are several factors to be considered while deciding on invoicing software.
- Easy to use – Invoicing software is operated by a small business / individual freelancer to reduce the haphazard billing methods and reduce manual work. So the most crucial factor to be considered while choosing an excellent invoicing software would be whether it is easy to use.
- Fits your business requirements – Making a list of the challenges you face with invoicing/ listing out your concerns would be a great start while shopping for invoicing software.
- Features and pricing – There are several invoicing software providers in the market. Each of these invoicing software providers offers a variety of features and pricing plans. It is essential to list out the most useful features and choose carefully after ensuring that it will help you raise a professional-looking invoice and does not burn a hole in your pocket with its cost.
- Safety – It is vital to choose an invoicing software provider that has a good reputation for system security in the market because the invoices comprise essential data about your business and customer.
- Customer support – While most invoicing software providers offer training material to the users, it is essential to understand that bugs and other technical glitches usually accompany software technology. It is vital to choose an invoicing software provider with easily accessible customer care through a dedicated support team, tutorials, manuals, training materials, and webinars.
What is the best software for invoicing?
Numerous providers are offering invoicing software, and each one of them has some fantastic features that help users ease their pain of invoicing and other related tasks.
- Fresh Books is one of the easiest to use invoicing software, one of the best with its overall features. Square invoices is another invoicing software that is best suitable for low volume/ individual freelancers.
- Wave is another invoicing software which is not very pricey and offers accounting integrations.
- Xero is a complete accounting alternative.
- Hiveage is another invoicing software that offers the highest number of payment options.
- Quickbooks has excellent features and the best transaction fees.
- Sage is an excellent invoicing software with excellent reporting features useful for freelancers/ contractors with multiple clients.
- Zoho invoice offers excellent automation other than the invoicing features.
- Free-agent is another invoicing software that offers excellent pre-designed templates.
However, it is impossible to decide on the best invoicing software because it solely depends on the business requirements.
What is the best free invoice software?
- QuickBooks by Intuit is one of the best invoicing software with millions of users. QuickBook is a complete package for all your accounting and invoicing needs.
- PayPal offers an excellent invoicing solution that enables users to create invoices on the go with its mobile apps.
- Square is a great invoicing software that enables users to accept payments, both in-person and online.
- Invoice Ninja is another invoicing software that is easy to use, an excellent fit for small businesses, and customizes users.
There are many other free invoicing software providers in the market. Each has a unique feature that might be suitable for freelancers/ small businesses.
What is the invoicing software?
A software tool that enables individual freelancers/ contractors and small businesses to generate invoices for their clients’ products/ services. Invoices are created in the invoicing software to the client through email, post, or any other chosen method. Pre-designed invoicing templates, customer records, new invoice creation, enables managing invoicing, payments through credit cards, multi-currency setting, and tax reporting are a few features offered by any invoicing software.
Does QuickBooks do invoicing?
Quick books enable its customers to record sales transactions and generate invoices to keep track of the accounts receivables. QuickBooks Online also allows a pay now button to help customers pay directly through the invoicing features. Quick books charge 2.9% plus $0.25 per each invoice paid online.
KS Digital, Digital Craft Co, Design Couch, K Glyphics, and many other top companies use invoice software for their invoicing, accounting, and taxation needs.
Some of the invoicing applications –
Let us look at the features, advantages, customers, use cases, integrations, and pricing for some of the best invoicing software providers:
Wave accounting is the easiest to use invoicing software that enables users to connect it to their bank accounts, manage payment reminders, stay updated on the cash flow, and helps expense tracking. Wave accounting works as excellent invoice software and accounting software that is best suitable for small businesses.
- Tax calculations
- Credit card payments
- It is free to use
- Works as a great invoicing and accounting software for individual freelancers and small businesses.
- Billing and invoicing is effortless.
- It helps users to accept payments through credit cards.
- It helps users to track expenses and manage taxes without any hassle.
- Accounting firms
- Technology-based start-ups
- A small business like a nonprofit organization
- KS Digital
- Jessica Today
- Calgary Boiler Clean
- Google Sheets
- Free Trial is available.
- Wave Accounting offers free invoicing and receipt scanning for free.
- Payroll software costs at $20 per month plus 4$ per additional employee/ contractor.
- The credit card payments cost 2.9% plus 30c of bank payments, which is a minimum of $1
Invoice ninja offers software with features for billing and invoicing, and payments management. Users can craft professional looking invoices available for their clients to both views online or print/ download on paper. Payments can also be made directly on the software through credit cards or other means of payments.
- Real-time invoicing
- Customized invoicing with logo
- Accept credit card payments.
- Create recurring billing/auto-billing
- Customized URL link
- Professional template design
- Forty-plus payment options
- The professional-looking invoicing with logos helps to improve branding.
- The time tracking feature helps to create billing to be built in real-time.
- Time tracking helps users to send a billing to the client based on the per hour rate effortlessly.
- Recurring billing and invoicing are a lot easier with the invoice ninja software.
- Writing & editing
- Motion pictures & Films
- Web developer
- Video storyteller
- API Gum
- A free trial is available.
- The free forever plan covers unlimited invoices, four templates for invoice and quotation, recurring billing and invoicing, branding with a logo, integration with up to forty payments gateway, time tracking based invoicing, alerts for invoices sent, paid, and viewed. Tax settings, accept payments, through credit cards and other modes of payments, real-time invoice creation, and google analytics.
- The Ninja Pro subscription costs $10 per month and $100 when paid annually. All the features in the forever free plan are available in this plan. Password protected client-side portal, personalized branding, unlimited – quotes, clients, invoices, watermark removal, auto-reminder set up for recurring invoices, multiple customized invoice design, reporting, and client statements are all a part of this plan.
- The enterprise subscription costs $14 per month for up to two users.
- It costs $26 per month for up to five users.
- It costs $36 per month for up to ten users and $44 per month for up to twenty users.
- All the Ninja pro features are available in this plan. Additional users, access permissions, quotations, and attaching third party files to invoices are also a part of this plan.
Zip books are excellent free invoicing software for small businesses, individual freelancers, and contractors for their bookkeeping and invoicing needs. The software enables users to accept payments, helps to get payments faster through credit cards, time tracking, expense tracking, recurring invoices management, and much more on a single platform effortlessly.
- Time tracking
- Recurring invoices
- Team management
- Accounting software
- Free accounting software
- Accounting reports
- Expense tracking
- Analytics & reporting
- Real-time billing with time tracking
- IT software
- Nonprofit organization
- Digital Craft Co
- Illuminate design
- Quirky Print & Design Studio
- Google Apps
- Google Drive
- Google Chrome
- The free plan covers unlimited – invoicing, vendors, bookkeeping, and customers accept payments through pay pal and credit cards, connect and manage with a single bank account.
- The Smarter plan costs $15 per month and covers all the features in the free plan. Unlimited recurring invoices, bank connections, time tracking, advanced accounting & bookkeeping, auto-import of time, and expense tracking to invoices are all a part of this plan.
- The Sophisticated plan costs $35 per month and covers all the features in the smarter plan. Secured document sharing, advanced reporting, bank reconciliation, customized labeling, and smart tagging to track based on location and project are some of the available features in this plan.
- The accountant plan is available by-quote and covers all the sophisticated features. Time tracking, a single dashboard for client management, data migration of accounting from existing accounts, texting clients, and bulk transaction editing are some of the other features available in this plan.
Hiveage is an excellent choice of invoicing software for small business owners and individual freelancers. Personalized invoicing templates enable improving branding, payment reminders, recurring billing and invoicing, and payments through multiple payment gateways.
- Online invoicing
- Time tracking
- Recurring billing
- Expense tracking
- Personalized invoice templates
- Financial reports
- Multiple payments gateway integrations
- Accounting features and advanced reporting helps users manage their accounts effortlessly.
- Manage to bill and invoicing for multiple businesses with a single login.
- Multiple touchless payment options
- Cost-effective and access on the go with mobile apps.
- Design Couch
- Apex Virtual Solutions
- PayPal, Stripe, 2Checkout, quick books online, Zapier and integrations with tons of other platforms are available.
- The free subscription covers up to five clients and is an excellent choice for small business/start-ups. Unlimited expense tracking & time tracking, unlimited invoice, quotation, and estimates are a part of the free subscription plan.
- The Basic subscription costs $19 per month and $16 when billed annually. If you are a freelancer looking for a compact invoicing software, then the Hiveage Basic plan would be an excellent fit. Along with all the free plan features, integrations with multiple payment gateways and financial summary reports are a part of this plan.
- The Pro plan costs $25 annually and $29 per month. All the Basic plan features are a part of this plan. Up to two hundred and fifty clients, five team members, instant payment reminders, personalized email notifications, and email from a single domain.
- The plus subscription costs $49 per month and $42 when billed annually. All the Pro plan features plus up to ten team members, and a thousand clients are all a part of this plan.
Invoicera is an excellent choice for small businesses, freelancers, and contractors. Online invoicing, recurring billing, time tracking, automated workflows, and much more are all made effortlessly.
Automated billing, expense tracking, recurring billing, reporting, time tracking, instant payments, estimation, payment reminders, and multi-language and currency support are some of the best features of Invoicera.
- Enables to track payments.
- Multiple payment gateways
- Multiple currency setting
- Mobile apps support invoice creation on the go.
- G Spotter Antennas (Australia)
- Mindig Company (Netherlands)
- Google Apps
- Pay Pal
- A free trial is available
- The free plan covers unlimited estimates & invoices, up to three clients, one recurring profile, projects, and timesheets are available.
- Classic subscription costs $19.95 per month. It covers five staff, up to a hundred clients, hundred recurring profiles, and up to fifteen auto-recurring bills.
- The Business plan costs $39.95 per month—unlimited clients and recurring profiles, up to ten staff, and a hundred auto-recurring bills.
- Infinite plan costs $99.95 per month. It costs unlimited – clients, staff, recurring profiles, and auto bill recurring.
Invoicely is a cloud-based invoicing software that works well for freelancers and small businesses. The free plan allows for unlimited invoices and customers. Billing/ invoice creation, payment reminders, time tracking, expense tracking, multi-currency, and accounting management are all a part of Invoicely.
Expense tracking, billing and invoicing, estimation, customized email, automatic payment reminders, multi-currency support, sales tax, reporting, and accounting integration are some of the salient features of Invoicely.
- Easy to use
- Payment gateways
- sales tax reporting
- K Glyphics
- Conscious Comms
- Tuts Plus
- We pay
- A free trial is available
- The Free plan covers unlimited invoices, PayPal as a payment gateway, multiple businesses, limited branding, and billing in any currency.
- The Basic Plan costs $9.99 per month and covers unlimited invoices, up to two team members, time tracking, expense tracking, recurring statements, multiple businesses, estimates, and online payments.
- The professional plan costs $19.99 per month and covers all the basic plan features and up to ten team members.
- The enterprise plan costs $29.99 per month and covers all Basic plan features and up to twenty-five team members.
QuickBooks is complete accounting software that enables users to manage multiple accounts. Allows users to stay updated on the taxation, enable time tracking and expense tracking, help users to keep their cash flow intact, raise professional looking invoices, and get paid faster. QuickBooks is a complete business/ project management software for all sizes of business.
- Bank reconciliation
- Automated recurring billing
- Expense tracking
- Cash flow management
- Payment reminders
- Time tracking
- Accounting management
- Expense tracking
- Sales invoicing
- Financial reporting
- Finance firms
- Marketing/ advertising firms
- Ad Hoc
- The Self- employed plan works well for individual freelancers and costs $ 5 per month and covers expense tracking, quarterly ax estimation, reporting, accepting payments, and invoicing.
- The simple start plan is an excellent fit for small businesses and costs $7 per month. Reporting, estimates, sales tax, income, and expenses tracking are some of the features covered under the simple start plan.
- The Essentials plan costs $17 per month and covers time tracking, multiple users, manage bills, reporting, estimation, taxation, accepting payments, and much more.
- The Plus plan costs $25 per month and covers income and expense tracking, reporting, estimation, billing management, multiple users, time tracking, inventory tracking, and 1099 contractors management.
An overview of all the invoicing software discussed in this post:
With a significant part of the workforce moving towards freelancing and contractor type of employment, taxation, accounting, invoicing, and much more mundane activities takes up a lot of time and become overwhelming for individual freelancers to manage. Thanks to a variety of invoicing software available in the market, invoice creation, payments acceptance through credit card, keeping track of recurring invoices, payment reminders, time tracking, accounting software, and much more are all made possible with out any hassles. A different set of providers initially managed accounting software.
Billing and invoicing are the primary features of the invoice software. Accounting software merged with the invoicing software helps users manage all the reporting, taxation, cash flow tracking, time tracking, bank reconciliation, and many other account management features. It is a perfect blend of invoice software and accounting software. Some of the invoicing software available in the market is best suited for small businesses and individual freelancers looking for simple billing software to ensure they get paid through a credit card or any other payment gateway.
Some of these providers also offer a mobile app that enables users to create an invoice on the go. The invoicing software has features like automated recurring invoices, time tracking, payment reminders, and multiple payment gateways that enable users to get paid faster. Using invoice software with a mobile app/ mobile invoicing allows users to create invoices on the go. It allows users to get paid faster. Some of the invoicing software providers offer a pay button for the clients to make payments. The pay buttons accept credit cards and enable users to get paid faster.
The software has multiple features like a pay button, invoicing on the go, real-time invoice creation, and much more that ensures the users get paid on time. Small businesses and freelancing individuals who are keen on using invoicing software for a limited number of clients can even use free software; however, if you are a growing business looking for billing and invoicing software with tons of features. The features like payment reminders, project management, mobile invoicing, time tracking, getting paid instantly, and much more, then the free software may not be a great idea since it offers limited features.
There are tons of invoicing and billing software in the market, and each of them offers exciting features with some of the best pricing plans. Using the best invoicing and billing software enables a business to get paid faster in multiple currency settings, send invoices in real-time, automate recurring billing/ payments, project management, and accounting & tax management. A Business can manage their tax and accounting with a provider like Quickbooks online. Invoicing, accounting, taxation, reporting are all made easy with a few clicks when a business uses QuickBooks online kind of software.
Some providers even enable users to customize the features and pricing plans as per the users’ business needs. However, the providers have the rights reserved for the original set of features offered by them. Small businesses and individual freelancers/ contractors make the best use of the invoice software. Invoicing and billing help to improve the cash flow of every business and play a vital role. Using the best invoicing and billing software helps a business/ individual get paid faster and manage their accounts and tax effortlessly.
Questions asked while looking for invoicing software:
What is an invoicing software?
An invoicing software enables users to create professional-looking invoices through pre-designed templates and send them to their clients in real-time. The invoicing software also allows users to accept payments on the same platform through multiple currency settings and automated payment reminders.
Can I use invoicing software for free?
Yes. Most of the invoicing software providers offer a free trial and forever free plans. There are limited features available in the free subscription, and the users can upgrade their plans to a paid one and enjoy the advanced features based on their business requirements.
Can I get paid through a different currency?
Most of the providers offer a multi-currency setting. Some of the software even has a play button that enables clients to make payments immediately with different payment gateways.
How is an invoicing software beneficial to a small business / individual freelancer?
Using an invoicing software helps users create a professional-looking invoice, raise invoices in real-time, automate recurring billing, get paid faster, and manage projects, tax, and accounting effortlessly.
Can I customize the pricing plans?
Most providers enable their users to customize the pricing plans and features based on their business requirements. However, the providers have the rights reserved for the original features.
Which is the best suitable invoicing and billing software?
The market has numerous invoice software, and each one of them offers some of the best features that enable them to send invoices, manage accounts, and automate recurring payments. While one feature is useful to a user, it may not be essential for another. Choosing an invoice software best suitable for your business requirements is a good idea.
Can I manage accounts with my invoice software?
Small businesses and individual freelancers with limited clients can choose the Zoho invoice or QuickBooks online providers. This software helps them manage projects, taxation, bank accounts, receive payments, create invoices, and manage every aspect of their business transaction without any hassles.
Can I use the same software for more than one business?
Yes, one invoicing software is useful for multiple businesses. Most providers offer multiple businesses for a paid plan, and a few also provide it in their free version.