What to look for on an online invoicing software

Posted on 03/07/2016
What to look for on an online invoicing software

As a freelancer or small business owner it's highly likely that you do something you love for a living. However, there comes that point when you need to ask your clients for money and the chances that what you love doing for a living is invoicing are extremely rare.

Thankfully there's help at hand as online invoicing software such as ours make it extremely easy to create professional looking invoices, keep on top of who’s paid and who hasn’t and collect payments from the client.

What should your invoice contain?

There are a number of things that an invoice has to contain, some of which are obvious such as the amount due and company logo/heading, but a good invoice will also include all of the following.

  1. An order or job number

  2. An invoice number

  3. The client’s name and address

  4. Your (business) name and address

  5. Your VAT number if you're registered and any VAT you have charged

  6. Name of project

  7. Details about the work you completed, including hours if relevant

  8. Your payment terms/policies

  9. Payment details options. i.e. how they should pay you

Something that is often overlooked is point 8 as there will unfortunately be times when a client doesn’t pay as promptly as you may like. By having the right terms and policies in place you can be more confident when chasing up unpaid invoices or have a stronger case should you need to take the matter further.

The good news is that with our PDF Invoice Generation feature a professional looking invoice along with terms and policies can be created without the need to consult with a legal professional. We use standards terms and if you want to amend them for your specific circumstances then you can.

What about the all admin work?

Many people underestimate the amount of time they need to dedicate to performing admin duties, particularly as their main focus is usually on attracting new clients. However, chasing clients for money is one such admin job that not many freelancers enjoy, so once the invoice has been sent you can set payment reminders to be sent directly to the client at a time of your choosing.Payment reminders offer several advantages to the freelancer.

1. It reduces the amount of time spent on admin.
2. It avoids the need to have an awkward conversation with a client.
3. It produces an auditable trail.

Auditing is very important and having records easily available is another tick in the box for an online invoicing system, as it makes the whole accounting process much easier to monitor.

For most small business the cost of an online invoicing system can be off putting, particularly if they’re only generating a handful of invoices a month.

With our starter offer, outgoings can be kept to a minimum with a free subscription. All of these are just some of the many benefits of teaming up with Fast Invoice as we developed our system with you in mind.

Keep all your invoices safe online, get a free Fast Invoice account. No credit card needed.

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