Do you want to immediately get the solution? The most effective billing and invoicing software for the majority of people is FreshBooks as well as Square.
Receiving payment from customers and clients can be a challenge. Without a well-designed invoicing system, it could cause serious cash flow issues for your company.
Sending paper invoices out and obtaining checks via the mail is a dated method that isn’t convenient for your clients. Additionally, it’s difficult to track your receivables and follow-ups in this manner.
For freelancers, service companies and B2Bs, using billing and invoicing software will make it easier to collect payments. Your business will be paid more quickly while also giving your clients more options to pay.
The most effective software for invoicing comes with options like automatic follow-up messages expenses management receipts, tax details, receipts and many more. These software tools can streamline your accounting process and help you monitor receivables.
With an online bill payment service, it will add an element professionality to your company and also. You’ll be able create professional invoices as well as provide superior service to your customers.
The Best 7 Software for Billing and Invoicing
After analyzing and testing hundreds of invoice and billing solutions I’ve narrowed it down to seven I’m able to recommend. Check out the following reviews for in-depth analysis that include the advantages, features as well as pricing and usage examples for each of the tools in our list.
1. FreshBooks — Top overall Billing and Invoicing Software
FreshBooks is a complete tool for accounting and invoicing software. It’s an ideal choice for small companies as well as self-employed people, companies consultants, agencies, and other firms. Cloud-based software is backed by over 24 million customers across various sectors.
FreshBooks makes it easy to create an invoice that is professional in just a few minutes. Use the invoice generator to select the template, then add your logo, and then personalize your email.
FreshBooks provides a payment service and payment processing. It accepts credit cards as well as ACH payments to be paid quicker.
Also, you’ll benefit from the automation features that place your billing system on autopilot. Create recurring invoices and send reminders to pay, and bill late fees, all automatically.
Another great feature of FreshBooks is the capability to take deposits as one lump sum or percentage of the invoice total.
Utilize FreshBooks to alter the terms of payment include due dates, calculate automatically taxes, and many more. It’s an all-in-one accounting software it also includes tools to track time expenditures, payments reports, projects, and payments.
FreshBooks offers a solution for companies of all shapes and size:
- Lite – $15 per month (5 billable clients)
- Plus – $25 per month (50 billable clients)
- Premium – $50 per month (500 billable clients)
- Select – Custom pricing (500+ billable clients)
For a short period, FreshBooks is offering 50 percent off for the first three months for customers who sign up for the service for the first time. Try it for free in thirty days.
2. Round — Great for Invoicing with a low volume
Square is most famous as a POS program and processing options. It’s also an attractive alternative for invoicing and billing.
With Square it’s simple to send invoices electronically to your clients anywhere online.
Over 100 million invoicing transactions have been issued through Square. The platform has helped facilitate 20+ billion invoice transactions with more than 40 million customers across the globe.
Square allows you to save customer card information on the file to automatically bill and create regular invoices. They also offer a broad selection of invoice templates suitable for various industries such as client service retail, field service and freelance.
The primary benefit of Square is its integrated payment processing. It’s simple for your customers to pay invoices anywhere in just a couple of clicks.
There’s no fee for monthly billing as well as the ability to send unlimited estimates and invoices. The only cost you pay is an amount of 2.9 percent + $0.30 for each invoice that is that is paid online. The rate increases to 3.5 percent + $0.15 for card-on-file transactions.
These rates are too high for payment processing generally. However, it’s okay if you’re not processing a large volume of invoices per month.
3. Zoho Invoice — The Best Automation Features
Zoho Invoice is a cloud-based program which allows you to design professional invoices, send reminders for payment and receive payment quickly online.
Contrary to some of the other software we have listed Zoho Invoice isn’t an all-in-one accounting software. However, Zoho offers everything you need to automate create and manage invoices online.
Zoho Invoice has an extensive collection of invoice templates that cover various categories, such as estimates and retainers. It’s simple to make elaborate invoices that include custom fields , while also staying organised and imitating professionalism.
Additionally, you’ll be able to oversee all aspects of the tax compliance of your business with the correct tax rates for each invoice.
One of my most favorite aspects in Zoho Invoice can be the billing profile that is recurring. It’s simple to set up automatic payment for customers who have a history of paying. Zoho will notify you when customers have seen an invoice, meaning you won’t need to guess whether the invoice was accepted.
In addition to the basic billing options, you’ll benefit from tools to manage the process of paying, tracking time, and other expenses. Connect your payment processor and get payed online.
Here’s a look at plans and pricing of Zoho Invoice:
- Free — – $0 (invoice maximum of 5 clients)
- Basic — $9/month (invoice for up to 50 clients)
- Standard -$19/month (invoice for up to 500 clients per month)
- Professional — $29/month (unlimited customers)
All plans include free 24/7 support, and a 30 day money-back assurance. You will get two months free when you purchase all plans that are annual.
4 – Xero — The Best Invoicing Software for Small Businesses
Xero can be described as a different all-in-one accounting software designed for small-sized companies. It’s cloud-based, which makes it simple to handle your financials and invoices from any location.
The process of creating professional and customized invoices is easy. Select a template, then add your personal branding and upload your logo and you’re now ready to begin mailing professional invoices customers.
With Xero you’ll enjoy the following billing options:
- Automatically establish repeated invoices
- Send invoices in bulk
- Mobile invoice
- Instant payment with “Pay Now” button
- Oncharge billable expenses
- Replicate invoices from the past
Xero does not include an integrated tools for processing payments. However, they are compatible together with Stripe and GoCardless to accept credit, debit, ACH, as well as the digital wallet. It’s therefore easy to setup and begin accepting online payments.
The software is compatible with more than 800 tools and apps, including Gusto, Insightly, Expensify, PayPal, Bill.com, Square, Shopify, and many more.
Here’s a quick overview of pricing and plans for Xero plans and prices:
- Early -9 dollars per month
- It is growing -30$ per month
- Established — $60 per month
The Early plan allows only five invoices and quotations per month. This means that most users will probably start with the middle-tier plan. You can test the features of Xero with unlimited users during the first 30 days.
5. Wave — The Best Free Invoicing and Billing Software
Wave is a completely free invoicing and billing solution. It’s a fantastic choice for freelancers, entrepreneurs as well as small businesses who want to streamline their billing processes.
With Wave it is possible to make and send an unlimited amount of invoices to clients as many as you’d like – all at no cost. It’s simple to use, as well as the invoice templates completely customizable.
You can control your invoices from any location using your Wave iOS as well as Android mobile applications.
Here’s a brief review of the other popular invoicing features offered by Wave:
- Invoices in any currency
- Send estimates
- Make estimates into invoices after they have been the invoice is approved
- Follow-up on accounts that are overdue
- Automated payment reminders
- Recurring invoices
- Drag-and-drop line items
- Terms of payment that you can customize
- Tax calculations are automatically calculated.
- Track partial payments
- Find out when invoices were looked at.
- Cash flow analysis
The tools for accounting and receipt scanning can be accessed for free , too.
The only time you’ll be charged is when you use the integrated payment service that is charged per use.
Processing for credit cards costs 2.9 percent + $0.30 per transaction . For Visa, Mastercard, and Discover. American Express payments cost 3.4 percent + $0.30 every transaction. ACH payments are also available with a one percent fee.
6. Invoicely — the most simple Invoicing and Billing Software
Invoicely is used by more than 100,000 businesses. It’s an easy solution, which is why it’s a popular option for small-sized businesses.
However, don’t be fooled by its simplicity; Invoicely is powerful and user-friendly. It can produce an invoice that is professional in just 60 minutes.
It’s not as comprehensive as the other software that we’ve ranked. However it does have everything you need to handle basic invoicing.
You’ll be able to benefit from features such as regular statements, the capability to invoice using any currencies, issue estimates and accept online payments. Invoicely includes tools to track mileage, time and costs for invoices.
There’s a no-cost plan for users who are not a household name, but I’m not able to would recommend it. The invoices will feature Invoicely branding This isn’t exactly professional.
Here’s a quick overview of the prices for paid plans:
- Basic basic $9.99 each month ($7.99 with an annual contract)
- Professional Professional $19.99 each month ($15.99 with an annual agreement)
- Enterprise -$ $29.99 monthly ($23.99 with an annual contract)
The plans are mostly dependent on the amount that you can have in your team. Each one is able to accommodate as many as 2 10 or 25 users, respectively.
If you’re looking for a complete accounting software, Invoicely is not for you. It’s still a viable choice for simple online tools to invoicing.
7. Sunrise Lendio” Top Complete Bookkeeping Service
Sunrise from Lendio is distinct from the other options that we have listed. Apart from basic invoice and billing, they also offer full bookkeeping services.
The process is simple. Simply create an account, then sync your bank account and begin making invoices.
Self-service plans are 100 100% absolutely free. Benefit from features like:
- Unlimited invoicing for free
- Unlimited bank transactions
- Cash flow reports
- Double-entry accounting
- Collection of payments
- Tracking of expenses
- Estimates and quotations
- Financial reports
- Tax compliance
Processing charges for credit cards are 2.9 percent plus $0.30 per transaction. ACH transfers cost at 1%.
However, for those with more complex requirements, Sunrise by Lendio has also outsourced bookkeeping services. You’ll be assigned a bookkeeper to keep track of your transactions and then close the books every month. You can contact your bookkeeper via text, phone, or via email.
The cost for bookkeeping services is determined by the amount of transactions you conduct each month.
- Early — $149/month (up 100 transactions)
- The growth rate is increasing -Monthly cost of $299 (up up to 200 transactions)
- Corporate -Monthly fee of $499 (up 500 transactions)
Even if you’ren’t interested in services for bookkeeping however, you are still able to use Sunrise by Lendio to receive unlimited invoicing for free.
How to Find the Most Effective Invoicing and Billing Software for You
With the many great choices to pick from choosing the most effective software for invoicing and billing for your company can be a challenge.
However, there are certain characteristics to look for when you’re looking at different alternatives. This is the method we employed to select the best in our selection. You can apply this method in order to determine the most suitable software for your requirements.
Amount of Clients
How many customers are you dealing with? How many invoices do you issue every month?
A lot of programs will restrict the amount of invoices you are able to send, based on your plans. Therefore, it’s essential to think in the bigger picture. What happens when you acquire new customers? Do you have the ability to provide estimates to potential clients?
Check that your software will adapt to your needs as your company grows.
There are also applications available that provide unlimited invoicing, and in some cases even for no cost.
Automation
Software for invoicing and billing will make your life easier. Choose tools that have automated functions, so you can get rid of manual work for maximum efficiency.
Automation is crucial to regular billing. It’s also great to automate monitoring, late fees as well as reminders for payment and tax calculation.
Payment Collection
Invoices are just one aspect of the equation. In the end, however, you have to be paid.
The most effective invoicing and billing solutions incorporate the payment process tools. If these tools aren’t integrated or integrated, you must be able to connect with an external platform.
It’s not uncommon for some platforms to provide free invoicing services, and then charge you only for processing charges. The fees are contingent on the type of card and the method of payment, they generally begin at 2.9 percent + $0.30 every transaction on credit cards , and 1percent per transaction for ACH acceptance.
These rates are expensive compared to conventional credit card processing. However, it’s worthwhile to offer your customers an easy way to pay online. This can drastically cut down the time it takes to collect receivables.
Accounting Tools
A variety of invoicing and billing software allows you to do more than simply send invoices. Certain are described as complete accounting solutions. There are options that offer outsourcing bookkeeping services as an added-on.
Some examples of accounting tools include financial reports, expense management and receipt uploads time tracking and bank reconciliation, reports and much more.
Not every company requires an accounting software that can send invoices. If you’re just looking to create invoices online, don’t spend a lot of cash and select an affordable software.
Conclusion
What’s the most efficient software for billing and invoicing available today?
We suggest the FreshBooks. A complete accounting software. It has everything you require to manage your invoices and get paid online. There are features and plans that can be used to cater to different sizes of business and industries , too.
With that said there are many feasible alternatives to take into consideration.
Xero can be our number one recommendation for small companies. We suggest Zoho invoicing for its automation capabilities. If you’re looking for a free billing program you can try Wave. Square provides built-in payment processing which is perfect for invoicing with low volume. Invoicely is ideal for those who are looking for a simple solution with no extra features. Make use of the Sunrise app from Lendio for invoices and bookkeeping .
No matter what your billing or invoice needs, you’ll be able to solve your issue by following the suggestions included in the guide.
