Invoicing is one of those tasks that we, small business owners, love to hate. We know it’s essential. We just don’t like the tedious process of converting cost estimates to invoices. There are too many numbers to think about. Not only of the billable amount but the payment terms, taxes, discounts, quantities, and dates. 

So my ears perked up when I heard about invoicing apps that can automate this vital but time-intensive task.

What is an invoicing app?

Invoicing apps or mobile invoicing is software that resides on your smartphone and other mobile devices. An invoicing app lets you create, send, manage, organize, track, and report on your accounts payables. It offers the convenience of being able to bill your clients where you are. Invoicing apps integrate with your accounting dashboard on your PC. 

Just the thought of having to do invoicing without going to the office or opening my laptop had my heart racing. I also found out the specific benefits.

The advantages of invoicing apps

1. You can invoice anywhere. 

The most obvious one is that invoicing apps are telecommuting friendly. In these times of work-from-home setup, you can invoice your clients while having coffee or in the garden. You don’t have to expose yourself to any viruses and bacteria you may encounter on the way to work. Then pass these malignant organisms to my co-workers or family. 

2. Auto-updates your accounting software. 

Invoicing apps integrate with your accounting software. Many business owners are allergic to spreadsheets. Spreadsheets are complicated and grumpy. By using invoicing apps, the whole process of converting from cost estimates, billing, tracking, approval, and recording is automated. Your numbers or accounts receivables are updated with barely a press of a key. 

3. Invoice in minutes

It is quick. Invoicing apps lets you invoice on the go. Invoices can take from three days to a week to get approved. This is the case especially if you don’t send out the invoice right away while you are still top of mind. With all the tasks that a small business owner needs to do, it may take several hours or days before you get to do your invoices. Not if you are using an invoicing app.

4. Brand your invoice

Your invoice doesn’t have to be boring. Invoicing apps let you brand or customize your invoices quite easily. You can do this while watching Netflix (not recommended). Email the invoice to your client before the movie ends.   

5. Trackable

You can track it easily. No more excuses such as email was not received. From your smartphone, you can send reminders or notices to those who are behind payments. Since you’re already holding your phone, why not give your clients a call to clarify any issues or answer any questions they may have? You can review their payment history. And because all of these are recorded in the app, you can justify your late fees.

6. Get notified 

Invoicing apps can send alerts when payments are made. You don’t need to keep checking your bank account. Never again ask a client if they have already paid because you’ll know. When that payment comes in, you can instead send your client a thank you note.

7. Fix delays

Find out where the delay is. Invoicing apps let you see the whole process. Whoever or whatever is causing a delay will show up in the app. This is a nifty feature especially if you have several people involved in the invoice workflow. In some businesses, sales reps get the quotes approved, the cost estimate is then sent to finance for invoicing to the client. Another person could be in charge of the collection. When collected, part of the amount is then paid to suppliers. An invoicing app streamlines this process and allows you to remove inefficiencies. 

8. Minimize errors

You can avoid sending double invoices, invoices with wrong figures, or even invoices with the wrong recipients. You and your team are only using one dashboard even though you are logged in through different devices. This avoids redundancies and double entries.

9. View historical data 

Invoicing apps create reports that allow you to see the payment history of clients. You can know who are the good payers, who are the valuable clients, which clients can be let go, and other insights that tell you how to manage your client relationships. So if a client is acting like a diva, and you know they’re not making you money, you can say bye-bye.  

10. Prevent fraud

You can spot irregularities such as fraud or overcharging. The data these invoicing apps provide at the tips of your fingers are invaluable. You know at any time if your business is making money and where that money is coming from and where it is going.

11. Better Cash Flow

This is a biggie. Automated invoicing is just good for your cash flow. You can keep the money that is owed you coming in by being efficient. Cash flow is one of the major problems, especially for small companies that are less than five years old. A good invoicing app will help you manage your cash flow better. 

12. No stress

Automated invoicing is just bliss. We, small business owners, no longer have to be stressed out from making invoices. The whole process takes only a few clicks. Not only do you break away from stress, but there is also a feeling of security. This comes from seeing the whole process working like clockwork.              

Conclusion

Invoicing apps or mobile invoicing will only increase in use among businesses of any type. The revolution in the fintech industry is forcing companies to adapt to the new realities of doing business. 

Automated invoicing improves your cash flow, you decrease your overhead by removing inefficiencies, your accountant is happy, you can better manage your client relationships, and you a liberated from the stress of invoicing as a small business owner.  Paper invoicing is on the way out.  You don’t want your business to be swept along.