Top 6 Invoice and Accounting Software For Small and Medium Businesses

So you did it. You made it big, you achieved success, you finally have your own business. Congratulations! Inhale that success, digest the feeling of being a respected entrepreneur, you’ve earned it. However, there are storms to weather. Building the client base, ensuring team productivity, generating the income, resolving daily issues… And most importantly – keeping a tight grip on your finance. That’s a lot to ask of a person.

It’s very fortunate that it’s not the noughties, otherwise you would be sitting by the desk and typing (or writing by hand!) dozens of numbers and calculating them, along with the taxes and other deductions… I hate to say it, but you would be burning the midnight oil on invoicing and following up to collect payments. Every single month.

Luckily, it’s 2017 now and invoicing has never been easier before! There is plenty of invoicing SaaS solutions on the market with almost infinite options to automate the invoicing process, support the company’s accounting, even manage your calendar so you remember when’s the invoicing time. It’s like a magic wand, changing tedious hours of calculating into a few clicks. But it’s not a wand you find on the street, you need to buy it.

Maybe that’s why there are still people preparing the invoices on their own. For free. But is it really for free? What about the time it is costing you? Instead of a few clicks, you spend a few hours on drawing up the correct invoice. You need to update the software (if you’ve built it on your own) so it is compliant with the current law, develop its technology so it remains efficient and effective. Then you need to watch the bank account, badger those dilly-dallying with payments to finally pay. That’s a lot of time and the list of things to do never ends. Imagine, that you could be spending that time on perfecting your business strategy or having a nice dinner with your family.

Why don’t you take that load off your shoulders and use a ready-made solution? Of course, not blindly, you need to take some things into account.

Seven key features of SaaS invoicing software provider

1. Good reputation. Opinions of provider’s clients are very important and it’s essential to read them or even get some insider’s view on the services offered. Remember, invoicing is one of the vital features of your business.
2. API. A well-designed interface allows you to integrate the provider’s tool with your software. That means way more convenience since the invoices will be drawn up automatically and hassle-free.
3. Payment within an invoice. Facilitate the payment for your clients as much as it is possible. Clients will be satisfied and your money will come to you faster since it’s all-in-one!
4. Clients follow-up. This feature tracks the remaining payments and informs you who didn’t pay the invoice. You don’t have to read a long payment history to find the person owing you the money, the provider’s software has it taken care of for you.
5. VAT management. The topic of VAT is complex, depending on various factors, the tax is deducted from different clients in a different amount. It would be really nice if a software would support VAT calculation anyhow.
6. Multi-currency support. Needless to say, if your company goes global or is planning to do so, you want that functionality. The lack of possibility to pay in a preferred currency hinders the transaction and sometimes is even a deal-breaker.
7. Proper and clear reports. Each entrepreneur will be grateful for presenting his or her data in a transparent and understandable way. A well-drawn-up report allows you to see and instantly understand what the financial status of your company is without unnecessarily wasting your time on reading the long list of numbers and probably asking your accountant (if you have one) for an explanation.

What is more, there are also features supporting your accounting! You can ask for creating the financial forecasts, bringing the expenses into the books or generating the documents for tax offices. Look for a SaaS provider that suits your needs the most tightly.

Below, we recommend you the invoicing tools we consider worth your attention.

Zoho Invoice

• It is a minimalistic and very effective online tool that helps you to set up your company within minutes and go straight to drawing up invoices and sending them to clients. Although it consists of numerous modules presenting different services, such as sales and marketing tools, it’s stand-alone invoice module is perfect for quick invoice creation. 

• You also get automated payment reminders, time-tracking, and integration with the most popular payment gateways. If you cooperate with other people, like accountants, Zoho gives you the opportunity to collaborate with team members and oversee a given project.

• It also equips you with multiple currencies option. The Basic Plan costs $9 per month, and in order to make up your mind, you can sign up for a 14-day trial.

Sleek Bill India

• Sleek Bill is one of the fastest and best invoicing software solutions designed for all types of businesses. It offers multiple invoice templates, tax, and stock management, etc. You can also get a full version of retail billing software for free download.

HDPOS- Smart Billing and Invoice Software

• HDPOS is one of the best Billing and Invoice software. It has ease of use & nice interface. Windows-based Billing, Inventory Management and Accounting Software. It can handle multiple customers by allowing to hold current invoice and pick it later.

Marg ERP9+ Billing & Invoicing Software

• MARG Billing is a software designed to support Businesses like Retail, Distribution, Manufacturing, ERP, Accounting, and Payroll. Marg understands the demands of all different users, so it designed an easy billing software that carries out the needs of users. 

Tally.Erp 9

• Tally.ERP 9 is an easy invoice software for small business for accounting, inventory, payroll. It is economical and one of the most popular ERP software solutions available in the industry. You can download the free version of Tally.ERP 9

Vyapar - Accounting & Invoicing

• Vyapar is a comprehensive simplest GST ready Accounting and Invoicing software with many powerful features. Generate detailed reports, manage stock, and check business status anytime with this online billing software for small business.

Bottom line:

while evaluating and selecting such Accounting software for our business at that time above parameter could help you to find the best at a reasonable price. Moreover, It must be helpful to our work properly and beware of some kind of frauds regarding data collection and ask some bucks for the data.