When I received payments from my customers, I made notes about it. It was hard to see, which invoice is paid, which isn’t. Sometimes I forgot to mark, that invoice had been already paid and tried to contact my customer. There were a lot of misunderstandings and mistakes with customers. I guess this problem is topical for all business owners. Fortunately, invoicing software offers a solution – administration of received payments.
The main advantage of the invoicing software is connection between all features. For example you added some received payment and immediately invoice status is changing to “paid”. So the invoicing software prevents mistakes. If your invoicing software shows the status of invoice, it is easy to see, which invoice is paid, unpaid, partially paid or overdue. You can detect non-payers in a second. It indeed saves your time and facilitates the process of invoicing.
Some invoicing software provides the integration of payment gateways such as PayPal, Authorize.net, World Pay and others. You don’t even need to enter payments manually. Payment gateway is connected with the invoicing software and your payments are added automatically. Money collection becomes fast and almost automated. Isn’t it a dream? You will have a “robot”, which will manage and optimize the cash flow. These useful features will probably have positive impact on your company. Your customers will also become disciplined.
If you want more, there is a possibility to get accounting features into your invoicing software. Market provides such software. This feature will help your bookkeeper. But you will also be interested in different statistical reports, which are easily generated with the accounting software.