As a small business, you're operating on a tight budget, but that doesn't mean that you can afford to compromise when it comes to service. And one of the most important parts of your business model is how you keep financial records, bill and receive payments.
Handling finances correctly is the key to the success of your business, and yet you're probably not yet in the position where you can have a full time financial employee, or have enough business to keep that employee busy. The solution to running the financial side of your business successfully is to go for online invoicing services. These programs will enable you to save time and money, as well as to keep accurate and well-ordered records. And many programs come with additional convenient features too.
Thinking about investing in an online invoicing service? If you're not, then you should be, since switching to online software brings a whole host of advantages to the small business market.
Your First Impression
As a small business owner, you know how incredibly important it is to make a good and professional first impression, and that goes for billing and invoicing too.
Providing clients with a customized and business like invoice is the first step to creating the serious impression that you want to make. Choosing from one of a variety of invoice templates and importing your logo into the program means that your invoices will be flawless every time.
Fast and Convenient Creation
Don't have the money to employ a full time financial employee, but don't have the time to invest yourself? An online invoicing service lets you create invoices quickly and easily. Simply fill in the fields that you need, and the invoice is done. Plus, you can schedule automatic invoices for clients that regularly pay the same amount monthly, creating the invoice just once and then setting the parameters for when it will be sent out and how often. There are no complicated procedures, it just involves filling out a simple online form, and you're ready to go.
Accurate Record Keeping
With an online service all your financial records for payment are kept in one place. You can easily track who has paid, and who hasn't, as well as checking out stats to find out who your best customers are and who's more likely to pay on time. And when it comes time to end the financial year and prepare for the company tax return, you've got everything you need right there online, simply send your CPA the link and password, and you're ready to file your return. Plus, many programs also let you import and export files to Excel and other record keeping programs, so if you've already set up a financial spreadsheet, you can easily transport data between the two.
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Objective and Tactful Reminders
Tired of chasing payments? Not a problem if you've got an online invoicing service. Avoid sending uncomfortable payment reminders, and simply set the program to send professional and automated reminders when payment dates aren't met. You can even set up a late fee system if necessary to add to an invoice that's already been created.
Deal With Details with Full Flexibility
Of course, online invoicing services vary by company, but most will make it simple to change parameters to meet your business needs. Adding sales tax is a breeze, as is crediting client accounts if necessary. Need to deal in a foreign currency? Not a problem, your service will probably even access the latest exchange rates and apply them automatically to your invoice. Online invoicing software can give you full flexibility in all your financial dealings. This will mean that you are not hammered by currency movements to quite the same degree.
Pay Expert Rates for Expert Services
Whilst some financial transactions are best handled by a professional, not all need to be. There's little learning curve to using online invoicing software, and you don't need training or knowledge of special financial terminology. Save expert rates for those services that you absolutely need, and save money by doing your invoicing and billing online.