14 Must-Have Features in an Online Invoicing Software

Small business owners know that time is the most precious commodity. You need to maximize your time and make it count. You can do this by using invoicing software to save you hours of work every month. But where do you start? How will your company benefit from online invoicing software?

In this blog post, we'll cover 14 must-have features in an online invoice software so you can find an app that fits your needs perfectly!

Top Features You can't Ignore in an Invoicing Software

1. Customize your Invoice designs

An invoice is just a legal document that doesn't mean that it has to be boring. An effective invoicing system lets you create invoice templates online and design customized invoices for your customers so they can quickly identify the documents sent from your business.

The billing software should allow customization by allowing you to choose which details to show on an invoice. It also allows you to add your company logo, terms, and conditions, bank details, e-way bill number, shipping address, transport details, etc.

2. Issue payment receipts and reminders

As an additional option, your invoicing software should include a payment receipt that you can send to customers once they have paid the invoice. This allows them to receive proof that their money has been received and notify when it was sent.

Organizations need an accurate way to consolidate and organize invoices. Not only does an excellent invoicing system help companies stay on top of payments, but reminders about overdue payments are essential for businesses that depend on their cash flow.

3. GST Compatibility

If your company is registered in GST, or you may be required to get it registered in the future, then this is a must-have feature. This feature will automatically determine whether IGST or both CGST & SGST should be applied. It also calculates the tax amount for you, which decreases the chances of error on your part by minimizing human input.?

4. Process online payments

In order to get paid as fast as possible, you should offer your customers different ways to pay, so they can make it simple. Your invoicing software should therefore be able to process online payments so that your customers can pay directly.

To avoid misunderstandings with your customer, you can add a payment link directly to your invoice. This speedy and efficient feature should help streamline the process.

Invoicera is partnered with 30+ online payments gateways. You can request a free demo here-

5. Create quotes and delivery notes

All invoicing software can produce an invoice, but sometimes a customer may not be ready to purchase. In this situation, you will want to create a quotation instead of an invoice. Invoicing software allows you to quickly generate quotes for your customers and convert them into invoices when accepted.

Your invoicing software should also be able to create delivery notes. This helps your customers track what they get for their order and provides proof if a mistake is made.

Invoicing software will save you time and energy. Input the information once, and invoicing software transforms it into whatever format is needed.

6. Manage your accounts

Invoicing software should include a feature that allows access to your financial information. When filing taxes for business owners, there may be concerns about complying with all the legal regulations. When managing your accounts with invoicing software, your collaboration becomes faster and simpler.

7. Set up recurring invoices

You may have regular customers that you ship products or services. Rather than creating a separate invoice for each customer, good invoicing software allows you to set up recurring invoices sent automatically. This time-saving feature will save you even more of your time.

8. Invoice your customers in their language

To have good customer relations, businesses should take care to communicate clearly with their customers. Smart invoicing software will recognize this and offer you the option to invoice your customers in multiple languages.

9. Generate automated reports

Invoice Software should provide reports about customer behaviour, payment details, and outstanding invoices. You might need different types of reports for your business. The software should have the option to export reports in a format that can be used by the reporting tool you are already using.

If you want more out of your invoice software, it should provide a way to create custom reports. For example, you want to know which of your invoices has not been paid within the last 30 days, and then you should be able to build this report using the built-in reporting tools.

10. Activity History

Software that logs each entry helps you determine who is responsible for a change. It also allows you to track when an entry was created, indicating if the data entered is correct or not.

11. Credit Note Management

One of the essential features of online invoice software is whether it has Credit Note management. Credit Notes are like debit notes when a refund or return has already been applied on invoices.

Every business organization uses different rules for credit notes, so your billing software must support all types of credit.

12. Client Management

All client's information should be saved in the system, such as their name, address, email ID, and phone number. The system should allow the addition of a new client's details with ease. You can also save the billing date of each client so that you can generate invoices for all outstanding bills when a specific date is reached. Your invoicing software must provide you with a feature of easy client management to track all clients in one place.?

13. Task Management

Task management and collaborative work are crucial for a smooth-running organization. Task Management can be defined as dividing the project into manageable tasks within an estimated time frame and according to set targets. Good invoicing software will provide you with:

1. Attachments of files like documents, images, etc.

2. Notifications of tasks assigned to you or other users

3. A discussion board for coordination between all the members of the project

4. A task timeline so that everyone involved can track which stage the project is currently at.

14. Integration with ERP & other tools

It is essential that an online invoicing software can integrate with your existing business processes and tools such as CRM, ERP, Accounting & Payment gateways. An integration will save time and effort for your employees.?

Well!! These are some of the features you can't afford to ignore while implementing online invoice software tools in your business.

The ONLY Invoicing Software You'll Ever Need?

If you're a business owner searching for the right invoicing software capable of meeting all the features that suit your needs, look no further.

Invoicera is by far the most robust and comprehensive solution on the market today. It offers all of the features that any other invoice software provides, but it also has exciting new ones like payment receipts, 30+ online payments gateways, utility billing systems, integration with ERP systems (like Xero), client management capabilities, and more!

Invoicera will let you track all of your sales, manage clients and tasks, accepting online payments, generate reports on the go - it's everything you could want from an invoice software without any extra hassle or fuss.

Closing Thoughts

It's easy to get lost in the sea of invoicing software options out there. The one-stop-shop solution includes features like customizing invoice designs, issuing payment receipts, subscription billing, GST compatibility, processing online payments, creating quotes and delivery notes, managing accounts receivable with clients management capabilities—the list goes on! If this sounds like what your company is looking for, then-

Sign-up today to get the free trial of time tracking software to begin your journey of growing your business together.?

That's it from today! We hope you liked this blog, and if we miss out on anything important, please tell us in the comment section.