Many businesses still use paper invoices and mail bills to clients. This is highly inefficient, expensive, and carries the risk of human error.
When it comes to online vs paper invoices, online invoices win hands down. Online invoicing software, such as invoice24, allows you to send invoices to clients quickly and easily, letting you get paid faster.
Why you should use online invoicing
- Invoicing becomes quicker
- It makes things simpler for your clients and you too!
- Invoices can be sent instantly, so you can get paid quickly
- Reduces costs
- More professional
- Increased security
- More environmentally friendly
Why you shouldn’t use paper invoicing
All of the components that go into paper-based billing and invoicing are listed below:
- File preparation and printing
- Ink and cartridge refills
- Shipping & handling charges
- Offering payment choices such as debit and credit cards, each with its own set of costs
- Customer service will handle calls and questions about invoicing
- Manpower for accounting and reconciling
- Invoices that were misplaced and the time it took to locate them
- Bills that have not been delivered and the time spent checking if they have
- Any expenses incurred as a result of bill storage
- Processing time for bill inquiries
The list above are considered indirect costs and are sometimes overlooked while a business’s financial books are being completed. Simply said, many businesses waste a lot of resources on paper invoices and billing.
Creating an online invoice
If you own a small business, you have to know how to make an invoice. Many apps offer simple invoicing templates. Invoice24 allows you to produce and send professional invoices from your phone!
To produce an invoice, you’ll need to make a professional document. This should summarize the services you give to your clients, provide contact information for both you and your client’s company. It must also contain the amount owed for your services and the invoice due date.
To minimise confusion;
- Choose an invoice numbering system that works for you and stick to it. Each invoice should have a unique invoice number so that you can keep track of the many invoices you send out.
- Clearly states when and how clients are expected to pay you. If you charge late fees, make sure the conditions are clearly stated on your invoice.
- Give an itemised list of the services provided within the billing period. You could even include a note at the bottom of your invoice with a thank-you message.
The faster you can deliver invoices to your clients, the faster you’ll be paid – and that’s great for business.
Because Word and Excel are free, most small firms opt to utilize them. Specialised invoicing software, such as invoice24 is, free to use also.
When it comes to paper invoices, your options are restricted to utilizing Word or Excel templates or handwriting them. This method may be time-consuming, expensive, and error-prone.
The majority of your invoicing can be done digitally with invoicing software. In less than a minute, you can make an invoice, send it to your customer, and receive online payment.