In the past, invoicing was a tedious chore that required at least one dedicated administrative professional to manage, print and mail the bills out. Depending on customer flow, invoices could sit for an entire week before being mailed out. Although the business would be paid eventually, delayed invoicing cost money over time. With invoice software entering the Internet world, such as Zoho Invoice, companies have an efficient way to invoice everyday without hassle.

Send Invoices Daily

With an electronic invoice software package, invoices can be automatically emailed to customers at the end of each workday. When a brick-and-mortar closes for the sale day, for example, the computer system sends out invoices based on the day’s sales. Whether it was a typical sale or a return, each customer has an updated invoice on their account instantly. As a result, companies improve their cash flow. Frequent invoicing leads to fast payments, reducing customer collection issues and keeping the company’s accounting book afloat.

Flexible Payment Methods

Customers are not relegated to cutting a check for each invoice they receive. In fact, there are even more payment options to make customers’ lives easier. Although checks are still welcome, customers could use an electronic transfer from their checking account, corporate credit cards or even PayPal. Invoice software makes it possible to select a favorite payment method and make it a default for each transaction. Customers simply look over the invoice, approve it and click their payment information. The entire process could take less than five minutes, making both the seller and buyer happy with the transaction.

Collections Are A Snap

Invoice software also alerts the company if payments haven’t been received in a timely manner. Companies can then decide if a follow-up call is necessary. Some customers may have had an employee change, possibly losing the invoice within the email system. They simply need another copy. Without a reminder about missing payments, companies could function for weeks or months before the item was discovered.

Data Adds Up

Once a payment is accepted in the company’s system, there is no need for employees to input it into receivables. The money amount is fully converted into the system’s spreadsheet, credits the customer’s account and time stamps it. Math mistakes are practically impossible with invoice software making the number conversions. The company is even notified if the customer short-paid or overpaid the invoice.

An invoice software system works wonders for almost any business model. Take a look at your options today to streamline your accounting processes.

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