BusinessManagement

6 of the Best Invoicing Software for Freelancers

6 of the Best Invoicing Software for Freelancers – You work hard as a freelancer or a small business owner. You deliver a fantastic product or service, work closely with your customers to ensure their complete satisfaction, and then you get compensated.

That is, almost. There’s one more step you’re overlooking:

Invoicing.

It’s one of the least fascinating aspects of working as a freelancer. It must, however, be completed. And you’ll need a system if you want things to run smoothly—invoices being received, payments being made on time, and data being easy to acquire for taxes and financial tracking.

The invoicing tools listed below make this procedure much easier. We’ll go through six great pieces of online invoicing software for freelancers, followed by some recommendations on how to make your invoicing process as efficient as possible.

1. Hubstaff

The integration of Hubstaff’s online invoicing platform inside the app is a unique feature. In other words, it eliminates the need for you to use another application to invoice clients for individual goods or time monitored through Hubstaff. As you can see in the video above, the invoice generator can simply create correct, automatic line items for projects and tasks.

To keep track of project expenses as well as the amount to bill for each project or individual, you may create invoice templates and define billable and payment rates. Notes, taxes, PO numbers, and more can all be added.

Invoices can be distributed in a variety of formats, including HTML, PDF, and email, once they’ve been prepared. You can even see when the invoice has been viewed by a client. You can record a full or partial payment against an item to aid accounting.

All of these features start at $10 a month for a single user. You can also get a free trial of the app to see how it works.

2. Zoho Invoice

Zoho makes it simple to produce and deliver professional-looking invoices. Even if you have a free account, you may personalize every feature of your invoice to reflect your brand.

Google Checkout, PayPal, Stripe, 2Checkout, and Authorize.net are among the payment gateways supported by the service. You can have up to five customers and one user with a free account. To add more clients, customers, or team members, you’ll need to upgrade your plan (premium plans start at $7 per month for a single user and up to 50 consumers).

In addition, Zoho Invoice works nicely with Zoho’s other products, including marketing, email, HR, and business process management. For freelancers and small business owners who travel frequently, Zoho’s mobile invoicing makes it a smart solution, and mobile access to their vast range of other business tools is ideal.

Don’t forget about Zoho’s integration with Hubstaff for simple time tracking and reporting!

3. FreshBooks

The invoices from FreshBooks stand out as being incredibly professional. You may personalize your invoice to match your brand’s style and messaging, and the ability to collect credit card payments directly from the invoice adds to the professional feel.

FreshBooks is an excellent alternative for small business owners and freelancers because it has automatic reminders, late fees, and the opportunity to receive deposits for work that has not yet been completed. This is a standout alternative because it includes invoice monitoring, repeating invoicing, discounts, tax computations, and a slew of other features. You can even input expenses from your bank account automatically.

However, all of this power comes at a price. You’ll pay $15 per month for up to five clients after the free trial, and $25 per month for up to 50 clients.

4. Hiveage

Hiveage provides a number of services, including an excellent invoice system for small enterprises and freelancers. Every plan comes with an unlimited number of clients and invoices, as well as a $15 monthly fee. Two employees, 250 recurring profiles, and 50 auto-billing profiles are included in the starter plan.

Every subscription includes payment reminders, time and cost monitoring, 12 online payment methods, dashboard reports, and a slew of additional features you’d expect from an online invoicing solution. You may also customize your invoices to make them look more professional.

Two-factor authentication and detailed reporting were just added to Hiveage. Although it is not the cheapest choice, it is unquestionably worthwhile.

5. Wave Invoicing

Wave provides small businesses and freelancers with a comprehensive set of billing and invoicing solutions.

It’s also unique in that it’s the only hosted option that’s always free. You will never be charged to make or send invoices. Wave also provides invoice customization, recurring billing, and payment reminders. You won’t have to waste time handling the entire invoicing process thanks to automatic status updates and payment receipts. The invoices are also integrated into your financial tracking if you use the Wave Accounting program for your small business.

You can even accept credit card payments directly from your invoice, eliminating the need for clients to wait. Invoicing can also be done on the go thanks to mobile apps.

Momenteo is a great option for freelancers searching for a simple way to invoice after completing jobs.

Momenteo allows freelancers to personalize their invoices, which aids in the development of a professional and trustworthy business image. You can check the status of invoices after they’ve been issued with the app, so you don’t have to constantly follow up with your clients if they haven’t received them yet.

Momento’s free plan includes all of the company’s capabilities as well as two active clients, but it does not allow for online payments. The monthly premium plans start at $5.50.

Tips to make the online invoicing process easier

It’s time to start optimizing your payment process now that you’ve chosen an invoicing platform. You might simply send invoices and hope to remember to follow up, but the entire process will run more smoothly if you implement certain effective procedures.

When you’re invoicing, keep these five things in mind to get paid faster and with less work.

1. Automate billing with integrated invoicing software

Your apps will save you time the more integrated they are. If you track your time with Hubstaff, for example, you can utilize the FreshBooks integration to import and invoice your time. That’s a lot easier than completing everything by hand.

Time can be saved by using larger app ecosystems that incorporate invoicing (such as Zoho). It’s far easier to move information across multiple programs with just a few clicks than it is to copy and paste or transfer it manually.

Check out the integrations available when choosing an invoicing app for your small business to determine whether it will function with the apps you already use.

2. Use a checklist for account setup

When creating your invoices for the first time, gather as much information as possible. Make sure you have the following information on hand when setting up an account for your client:

  • Name of the account
  • Address for a business
  • A representative’s contact information
  • The phone number for the main business
  • Representatives’ names and contact information who are authorized to make transactions or address billing issues
  • Taxpayer identification numbers (TINs)

Additional information may be necessary depending on the product or service being supplied. Some of the following items may be required:

  • Copies of tax-exempt or resale certificates
  • Customers’ main financial institutions’ account information
  • Confirmation that the client has received and accepted all applicable policies and service agreements.
  • Limits on warranty returns and your responsibilities in the event of a product failure or misuse may be disclosed in agreements. Fees or interest that will be charged for late payments must also be documented.

The appropriate information can assist you in meeting your clients’ demands, so seek it out as soon as possible.

All of this may be organized and made more effective by using a project management application. You can create a card for each new client using a Kanban-style project management tool. Then make a list of the information you’ll need for each client and mark it off as you acquire it.

What’s more, you can use this as file storage for each client, allowing you to store each client’s necessary papers, invoices, and any expense paperwork under the card, ensuring that you have everything you need when you need it. Hubstaff Tasks is an excellent project management solution for this, and it’s free for teams of up to five people.

3. Get paid fast

Maintaining cash flow as a freelancer or small business owner is critical. Long periods of time between when you sell something and when you get paid to make life tough, so try to avoid them.

Do you want to make certain that this occurs? Here’s how to do it:

Provide a variety of payment alternatives. The more payment methods you provide, the fewer reasons your client will have to put off paying you. Clients can pay using PayPal, Stripe, credit card, and other methods in many of the invoicing tools listed above. Make it clear to clients that you’ll accept whichever payment method is most convenient for them (even if it’s a cheque or wire transfer).

  • On the day of the sale, issue an invoice. Waiting to invoice is the equivalent of handing your client a zero-interest loan. And the faster you invoice, the more likely you are to be paid quickly. It’s best if you do it on the same day.
  • Provide incentives for timely payments. Many businesses offer consumers a 1% or 2% discount if payment is made within 10 days of receipt of the invoice. If you employ this incentive, make sure to account for its costs when determining your pricing. Also, be aware of larger organizations that may try to take advantage of your offer by failing to meet the terms.
  • Late payments should be penalized with interest or fees. In practice, this method can only be used by organizations that provide a unique service or product that is crucial to customers. Make sure you know where you stand in the competition and how important you are.

4. Automate reminders

Automated reminders are available in many online invoicing systems, but some freelancers and business owners are afraid to use them.

Don’t worry if you seem obnoxious. As soon as possible, set up automated reminders.

Read Also: 9 Email Marketing Types to Grow Your Business

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