Published on June 25th, 2018 | by Guest0
Top 8 Reasons Why Small Business Prefer Invoice Software
All those service-based companies, business organizations, E-commerce firms, etc, that sell products/services in great numbers, have to do a lot of calculations to prepare bills for the purchased goods/services on a daily basis.
When there is a huge burden of customers, it becomes very difficult for accounts and cashiers to completed calculations quickly and present bills to customers. Needless haste in the preparation of bills and invoices often increases the chances of errors in bills on several occasions.
Invoices with inappropriate calculations and errors can frustrate customers and it is possible that they will stop purchasing from you from the next time. Why do you lose your customers and the potential business opportunities coming from them just because of erroneous bills and invoices? Now, it’s the right time to choose a good invoice software to make calculations easily and bring some respite to your daily business life. Just have a look at the main benefits of using an invoice software:
1. Easy Creation of Error-free Invoices
It doesn’t matter how fast your mathematics calculations are, mistakes are possible when you prepare several bills for customers that purchase your goods and services on a daily basis. Manual preparation of bills and invoices demands time and careful calculations of expenses. So, don’t waste your time in the manual calculation of bills and invoices.
Use a good invoicing software instead. It becomes easier for you to make calculations swiftly and prepare error-free invoices one after another. Just install the software on your PC, laptop or mobile devices and start using it. Insert the input and generate error-free invoices for customers. So, you can easily create multiple bills without making blunders.
2. Easy Tracking of Cash Flow
When you run a business, it’s natural that some customers pay for the purchased goods and services instantly, while some others promise to pay on a later date because of the insufficient cash, or some other reasons. Business owners have to keep their records in a notebook and collect that money fromcustomers. If the notebook is misplaced by mistake, then it becomes very difficult for them to track the paid/pending amount of customers. It is a direct loss to your business.
By using an invoicing software, you can deal with this problem. It facilitates the faster production of invoices and sending them to customers to receive payments easily and quickly. It allows you to track the pending payments of customers and collect them later on. It improves cash flow in your wallet and there remain minimal chances of unpaid payments.
3. Business Mobility
All business owners love business mobility. Basically, it means, you can run your business from all places using mobile devices. It is not possible for any businessman to sit in his/her office every day because of several personal and professional commitments. If you are not in the office, just use the invoice software on mobile, generate bills, and send bills to customers on their Email Ids. These days, Invoice software is integrated with several payment gateways. So, you can easily take payments from customers through the Internet and make your balance sheet stronger.
4. Professional Look of Invoices
With the help of an invoice software, you can generate bills in a professional manner and style. It is possible to create bills and invoices in a PDF format at any point of time. It is very useful when you have to send bills to customers via Emails or print it. A perfectly formatted invoice with a good layout always highlights key points to customers, such as the purchased goods, total amount, Tax amount, date and time, etc. It increases the customer satisfaction up to a great extent and the chances of the repeat business are increased up to a great extent.
5. Easy Preparation for Tax Filing & Audit
All business organizations need to make a lot of calculations to file tax returns and conduct audits. With the use of an invoice software, you can easily make calculations about your next income in a particular fiscal year and file tax accordingly. With error-free calculation and improved efficiency, you can make good tax returns and stay away from legal problems.
On the other hand, auditing of a company is done by accounts and auditors to accurately determine the availability of goods and their stocks and analyse how sellers sell products/services. Through this practice, auditors try to gather information on the implementation of marketing activities, POSM availability, the integrity of the sellers, compare the prices of goods with competing trade enterprises, Checking the work of staff, etc. Auditing works become easier if you use an invoice software.
6. Generate Error-Free Reports
One must always keep in mind that Business is a complex system in which there are many components. An entrepreneur manages sales, develops a product, configures marketing and manages employees, and perform several other duties to run a business organization successfully. All these are interconnected, making it difficult for anyone to track and evaluate the performance of the company.
Therefore, business reports work wonders. Generally, there are two types of reports on money management: accounting and financial. In fact, Accounting reports are created to deposit the tax and financial reports to analyse the cash flow to the company and make decisions accordingly.
An entrepreneur always has more important things to do than accounting and tax filing. He/she needs to sign a new contract, negotiate with the supplier or go to the production site, etc every day. Therefore, the use of an invoice software helps business owners to generate reports easily and make business marketing decisions accordingly.
7. Address the Genuine Concerns of Customers
When you run a business and deal with customers on a daily basis, they come up to you with several concerns related to your business, transactions, delivery of goods and services, etc. A good invoice system has a huge database of customers. You can use that database to easily verify the customer’s claims and serve them accordingly.
8. Low-leaning Curve
These days, software and CRM developers keep the user’s need in mind and create materials accordingly. Gone are the days where individuals tend to learn ifs and buts of any software or CRM application. There are many business owners that don’t have sufficient time to learn how to use a new software. Luckily, the most invoicing software has a short and low learning curve.
With a little instruction, you can easily use the system and minimize reconciliation issues and accounting errors. The developers of almost all invoicing software vendors provide adequate training and customer support to business owners so that they can use the software themselves, make calculations easily and quickly and generate accurate bills and invoices without seeking someone else’s help.
In day-to-day business operations, it is important for entrepreneurs to create professional looking, error-free and well-printed bills and invoices. It helps them to present accurate bills to customers and seek payments from them. It is very difficult and monotonous task to create bills one after another. Just forget the hassles of manual billing and resort to a good invoicing software as soon as possible. It will help you to generate accurate bills within a few minutes and win the hearts of your customers.
Stephen Chong works as a writer for Fonbell Solution, an IT firm offering web-based services such as web designing, online appointment system, club management software solution in Singapore. He would love to share the experience, knowledge, and thoughts with others on the web. For more blogs you can follow him on Pinterest, and Linkedin.