Invoices or Bills are generated by the seller and passed to the customer along with the product. According to the invoice, the customer pays the bill to the seller.
Many small business owners use hand written invoice. They fill out the product entries and price information with hand and send the hand written invoice to customer. Another option is excel template.
They can open the excel template, type in the invoice details in the pre-defined cells and print the copy to the customer. Hand written Invoice or Excel Template is an easy and cheap method, but it also brings many disadvantages. The documents are not organized and keep in a single source, which is difficult to recall the document, perform query, and generate statistical data and report.
Benefits of Using Invoicing Software
1. Improve Accuracy of Invoice
The chance of forgetting some important things when preparing invoice with hand is high. Invoicing software has many feature to help you filling the invoice, likes auto-fill date, auto-fit layout, etc. It may also alert you for important fields or errors. You can put more attention on the invoice contents, which can greatly increase the accuracy.
2. Improve Efficiency
In the invoicing software, you can save your product and customer information for later recall. By clicking few buttons, you can fill up the product and customer information easily. You don’t need to type those information again and again.
Some software also allows you to generate other documents, like Quotation, Receipt, Delivery Note, Purchase Order. This is important as it can greatly improve your company internal process and reduce tons of paper works.
3. Project a Professional Image
You may create a properly formatted copy of your Invoice in PDF format anytime. This is especially useful if you want to print or email the document. A well-designed invoice with nice layout can show the details of price and product to the customer clearly. This can greatly increase the customer’s confidence and also increases his assurance level to come back again.
4. Make Tax Preparation/Audit Easier
If using hand written or Excel template invoice, you need to perform accounting process manually. It is time consuming and you may forget the details about a specific invoice/transaction. With the software, all your invoice and billing information are already in the system. It can be easily retrieved and recalled. Your accountant feels happy if you have all the invoice or bill information in one place.
Software can also generate different types of report which can helps for preparation of financial statements of the business and avoids inaccuracy in the financial statements. Tax preparation goes much more smoothly.
EasyBilling software helps you prepare Quotation, Proforma Invoice, Invoice, Receipt, Purchase Order, Delivery Note, Packing Slip, Ordering, Credit Note & Debit Note. Visit EasyBilling Invoicing software for the details.