The Advantages of Online Invoicing Software for FreelancersWritten by Evelina (InvoiceBerry.com) on July 31, 2015
If you have started working as a freelancer, you will soon see yourself becoming an accountant too. An important part of freelancing is invoicing your clients. But a lot of people, especially those that cringe on the mere mention of numbers, hate this part of freelancing. So I’m here to give you the good news that you really don’t have to worry about becoming your own accountant anymore.
Managing your cash flow is no longer limited to book keeping and account management. The good news is that now there are many online invoicing software available that you don’t need to be backed down by accounting tasks you don’t enjoy. These software really help in streamlining the whole process for you. From creating professional looking invoices to checking reports on your client payments and invoices, these software are a huge help for freelancers like you out there who don’t want to become their own accountants.
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Online invoicing software not only makes your life as a freelancer easier but also helps in making things easier for your customers and clients. Here are some of the advantages highlighted:
1. Getting more organized
Online invoice software are really helpful in tracking all invoices that were sent out, invoices that have been paid for, and invoices that are still outstanding. They make things a lot easier for you to access and keep an eye on. This all helps in enjoying a more organized and efficient work ethic. Within a few clicks you can easily access any data that is stored on the web without cramming up your hard drives or your cabinets. Comparatively traditional ways of invoicing only mean lots and lots of paper that needs to be filed away. Stacks of paper piling up on your desk, is a scene many freelancers are familiar with. If that’s something that really slows you down, it’s time you make a change by switching to a more organized invoicing system like InvoiceBerry.
2. Ensuring accuracy of data
Typos and human errors are inevitable. Especially on busy days when we have so much on our minds and the last thing we want is to be heads down in piles of invoices. Having to make calculations manually can always lead to data errors no matter how careful you are. This is something that can be really disastrous and reflect really bad on your reputation too. Whether you over charge your client or under charge your client, it will not be a pretty scene either way. This is a situation you should look to avoid at all costs. And here is why it’s really advantageous to use online invoicing software.
Online invoicing software have smart calculation processes integrated that can easily help highlight data that doesn’t look right. Fields like payment terms and tax codes can help you easily calculate the final value. You can also put in discounts, interest, etc when required in an invoice and have the online system calculate everything for you in a split second. Not only will this save you a lot of time, but you can send it off peacefully knowing there is no chance of error.
3. Customizing your invoices
Most companies using paper invoices have pre-printed paper pads that they can easily fill in with the price and send it off. This however means that in future, if you need to amend anything in the invoice for a certain client, you really can’t unless you cross it out on the paper which will look really unprofessional. If the nature of your business requires you to send out many customized invoices for each client, this is another big reason why I strongly recommend you to switch to online invoicing instead. Any online invoicing software will allow you to amend each and every single invoice you create. Using a basic template, you can easily add in or take out data and text that does not apply. Online invoicing makes sending out professionally customized invoices so much easier.
4. Global access
Being able to access your invoices from anywhere is important for several freelancers. The main point of being a freelancer is to have more freedom in your work. This often includes working remotely from home, from your holiday resort, or while anywhere in the world. Having traditional paper based invoicing software will really not be easy for such freelancers. You can’t possibly carry around all your clients’ data with you when you travel. However, if you use an online software, everything will be stored online. This means that within a few clicks, you can easily access tremendous amounts of data without any delay. Whether that involves sending new invoices or looking at the status of outstanding invoices, you can now do things on the go.
5. Faster payments
The faster you can send out invoices, the faster you can expect payments to be made. You want to be able to bill your clients as soon as your service is delivered. This cannot be possible if you are using the traditional invoicing system where you have to post an invoice via mail to your clients. If your clients are all geographically dispersed, this can mean even more delays in payments as your invoices won’t reach them straight away. So why bother with such a slow system? With an online invoicing system you can really speed things up by being able to send out invoices as soon as the client has received their service. No matter which part of the world they are in, within a second they will receive your invoice. This immediate transaction will prompt them to be equally quick in making the payment to you.
6. Setting up reminders
As mentioned earlier, the last thing you want to do as a freelancer is to be overburdened with chasing lots of clients for payments. Any freelancer will be able to tell you how difficult it can be for them to make their clients pay on time. Continuously checking which clients have cleared their invoices and those who haven’t, can take up a lot of time. So why not save yourself from all this trouble by simply investing in an online solution that can help you set up reminders for whenever a payment is overdue. This will make things a lot easier for you and will help you maintain a level off efficiency and effectiveness in your work.
7. Easily track payments
For those freelancers that have absolutely no accounting background, this feature is especially attractive. You won’t have to worry about hiring an accountant to give you an insight into your cash flow. You can generate this with a few clicks by using a simple online invoicing software like Invoiceberry that offers you the facility of generating reports. This facility is quite a basic one now and is included in most affordable simple online invoicing software like Invoiceberry. Keeping track of payments, quotes, profits, and invoices has been made simpler than ever.
Thus, if you’re working long term as a freelancer, switching from traditional invoicing to online invoicing will really help you overcome so many obstacles.