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The growth of the online business market is bringing many changes. Different companies on the Internet now offer some financial services that used to be provided only by banks. One of the most practical advancements for modern business owners and freelancers are online invoicing services. They enable businesses to create, deliver and accept invoices in a second, as well as use other business accounting software features. Although you can choose from a wide range of invoice software solutions, not all of them are reliable options. This is why we’ve conducted a comparative analysis of online accounting software.
Online Invoicing Services
There are tonnes of online invoicing services out there, but for now, here are five of the most practical solutions.
If you run a small business with quite a limited budget, consider using Zoho as your online invoice tool. First of all, it offers a certain number of free services. That way, you won’t be charged a cent if you invoice 25 or fewer customers. Secondly, Zoho tries to localise their services by offering solutions in different currencies and languages helping business owners make quick conversions to different currencies.
Furthermore, you can connect Zoho with your account(s) on Google Apps because it can function as a serious collaboration tool. Compatible with both Android and iOS gadgets – this software comes with a user-friendly interface that beginners and entrepreneurs alike can benefit greatly on the go.
As your business is growing, you have a bigger need for more sophisticated accounting and billing services. With Xero, you enter a new level of online financial services. However, it doesn’t have any free package, except for the free 30-day trial period. For instance, the Starter package ($9/month) allows you to send only five free invoices and up to 20 transactions with this tool. The next package is Standard ($30/month), which doesn’t limit the number of invoices or sales. The third option is the Premium package ($70/month). Xero offers discounts according to regions hence you should always keep that in mind.
Moreover, its advanced functions enable its users to calculate taxes, manage payroll and run your business in multiple currencies as well. Finally, if you opt for this solution, you’ll be able to link it to various tracking tools and point-of-sale solutions, creating an integrated paying platform. Still, those features will depend on the type of the package you can afford.
One of the most popular online invoicing services, Quickbooks is used by millions of businesspeople worldwide. Business owners who need a multi-functional accounting system will make great use of this solution. Quickbooks offers its services by categorising them on the basis of the business field you work in. For instance, freelancers can save a lot of time and energy if they use their Self-Employed package. On the other hand, small businesses that need more detailed accounting services can choose from a variety of services and pricing categories. What’s more, those sets are created on the basis of different types of business ventures. As a result, a large number of businesses can find a customised package that will suit their accounting needs.
If you need a corporate invoice template for future business transactions or prompt information on unpaid services, Invoicebus is the right option for your business – and that’s only the tip of the iceberg when it comes to its features. For instance, you can link your credit cards to this software tool and track every single payment you make.
On the other hand, Invoicebus can be connected to PayPal, Stripe or 2Checkout, so that business owners can receive their payments without any trouble.
As for the user experience, it’s enough to say that everything you need to make an invoice is placed on the same page. Also, you can schedule all the invoices due to the current month and this tool will send them automatically when the time comes.
Finally, the prices are pretty popular. The basic package – named Van – starts from $0.95/month, followed by Minibus ($9/month). Two most expensive packages are Single-Decker ($19.95/month) and Double-Decker ($29.95/month). Also, there are great discounts for one and two-year subscriptions, so it might pay off to try those offers.
Business owners who want to make sure their due payments are covered on time can try the Due invoicing system. First of all, something handy for small entrepreneurs – you can send up to three invoices a month via Due without being charged. It could be a convenient option for freshmen in the world of business.
In addition to that, larger enterprises can choose from a variety of services and benefits. That way, Due offers the same transaction fee for both national and international credit card transactions (2.7% of the total sum). Similarly to the already discussed Quickbooks system, Due also offers different packages for different types of businesses. Finally, if your annual revenues surpass $250,000, you can get a better deal.
The choice of your cloud invoicing service will depend on your needs. In line with that, business beginners shouldn’t aim at too expensive packages, but use a basic online invoice software. As your venture keeps developing and your revenues grow, start including additional features for your online accounting software. That way, you’ll invest your assets gradually and use as many benefits offered via online accounting software as possible.
Mark is a biz-dev hero at Invoicebus – a simple invoicing service that gets your invoices paid faster. He passionately blogs on topics that help small biz owners succeed in their business. He is also a lifelong learner who practices mindfulness and enjoys long walks in nature more than anything else.