What is invoicing software?
When a client buys goods or services, their detailed list of purchases is called an invoice. Invoice software works by calculating these various bills, sending them to respective customers, and organizing their receipts online for a simpler bookkeeping process.
It uses a combination of spreadsheets and pre-set calculations for a faster input time. Which method to use will vary according to your business’ industry and needs.
With a MoneyPenny account, you can easily keep track of your business’ payments and send out multiple invoices at once.
What invoices can you create with invoicing software?
Timesheet style invoices – these are mainly used for clients whose services are billed by the hourly rate. For example lawyers, consultants, and freelancers.
Recurring Invoices, which are used for payments made in multiple installments, or at regular intervals every month. Examples of this kind of invoice include monthly rent payments or ongoing long-term development projects.
Credit Invoices that are memos are for keeping track of returned products to simplify the process of balancing your credits and debits.
Invoice Software for Small Business
Take advantage of MoneyPenny’s online tools to save time and energy for your other business goals. Small businesses benefit from the lower cost of online invoicing software in comparison to paying a separate employee to carry out these services. MoneyPenny also helps emerging businesses to avoid common invoicing mistakes for more accurate payments. In this way, you can Grow your business even faster with efficient and well-organized financial records Click To Tweet.
How Invoice Software helps you?
Good invoice software helps you make better financial decisions about your business by tracking your client’s . It also helps you understand how to best reach your customers for a fast payment turn-around time.
MoneyPenny simplifies and keeps track of your business transactions so that you can access a complete record of your invoices with ease. Since MoneyPenny is accessible online you also have a wider access to your bill payment records. This is especially helpful for business travelers as you can remotely access important invoice information.
Keeping a complete and organized financial record of transactions is crucial for your company’s tax and audit purposes. It also lets you gather information on customer demographics to improve other sectors of your business such as marketing.