For small business owners and entrepreneurs, one thing is for certain: There is never enough time to get everything done.
Between juggling operations, sales, and relationship management, owners and managers have so many tasks it can be difficult tracking them all. And when it comes to invoicing and receivables, these tasks don’t just cost you time. Without the right approach, it could end up costing you money. We all know delays in accounts receivable can cost your business on every level of the organization. What’s worse is when the error is on your end. Make sure you are using the best and most effective approach when it comes to your accounting needs. Use these tips and you’ll see the difference right away.
Accounting Starts With Planning
Nothing is more important than managing cash flow in your business. Some business owners are shocked to find that increased revenues and profits don’t always make it to the bottom line when they don’t invoice properly. The investment in learning technology, training your staff, and deploying tools around your needs will cut down on inefficiencies in daily operations.
We are often surprised at the expenses clients are willing to fork out. They invest in work planning and operational training while ignoring finance. Match your unique business needs to accounting tools. Your overhead staff can also work on proactive operations tasks more efficiently. Planning for accounting means seeing the connection between cash flow and strategy on every level of your operation.
Invoice Apps Streamline The Process
If your clients don’t get invoiced you won’t get paid. Small businesses are migrating to automation to comply with the needs of their clients for payment.
Tech tools can shorten the time between work performed and payment. For invoice apps to be effective for your business they need to provide the features you need. You can provide time tracking, estimates, client portals, and brand your invoices too. You should be able to provide time tracking, estimates, client portals, and brand your invoices too.
Track Subcontractors and Freelancers
As freelancers now make up 35% of the US workforce it is more important than ever for companies to track time and payments from a variety of sources.
The days of tying invoicing to timesheets with a simple time management app or software are over. Companies need to track a virtual workforce, overhead, inventory, multiple clients, and margin at the same time to create invoices that get paid. Without tech support, this process can be tedious and time-consuming. But with a single dashboard, you should be able to track and pay freelancers, subcontractors, and internal staff.
Time Management and Mobile Invoicing
Finance professionals need to manage time and plan expense ahead of time. Using technology you can create and send invoices and estimates directly from mobile devices.
For organizations with a top heavy account solution, time management apps can really cut down on duplication of time. Your mobile staff can act as a mobile invoicing department on the spot.
Multiple Payment Methods
Have you ever been in line at the supermarket when the person in front of you decides to pay be check? You have to count to 10 to get back your patience and watch as the line behind you grows.
If you don’t have the capability to take any payment method your clients prefer then you are making your finance functions more difficult. Taking a proactive approach allows for getting payments from multiple methods quickly and easily.
Your business needs to be able to take credit card payments a variety of ways. Technology tools will help you and your staff create a simple interface for a variety of payment methods.
Simple Interface and Complex Support
Ideally, this dashboard your clients interact with needs to be simple. Tech tools make it simple for your clients to pay, and simple for your team to plan accounting needs on the back end. But owners and entrepreneurs need to be able to track larger data sets in their invoicing and accounting. In order to make accounting easier (e.g. with QuickBooks), you need complex support on the back end. Controlling client, project management, and employee access will allow each user level to have access to the information they need.
Technology Delivers Efficiencies
As with all essential business functions, finance management can be streamlined when the right tools are deployed. But using the wrong technology can be a drain on resources and cause bottlenecks and confusion for you and your employees.
You’re not alone in turning to technology. The migration to digital finance tools will increase the efficiency of your staff. When it comes to taking care of your cash flow, accruals, and expense predictions you can’t afford to waste time with the wrong technology.
The good news for small business owners and entrepreneurs is that technology tools can now be automated. You can streamline all of your accounting processes. You and your staff can move to the strategic and analytical functions as the tools provide essential functions. Small business experts suggest moving all of your finance tasks to the cloud immediately if they are not already there. The flexibility and dependable solutions of cloud technology and finance apps will move small businesses to the next level.
Billdu can help.
With mobile, online, and page options Billdu has a platform that is right for every business. That’s why over 50,000 businesses trust Billdu as their invoicing and time management app.
Tracking and Notification
Billdu has inventory tracker, payment reminder, and customer feedback tools built in. Small business owners and entrepreneurs with multiple companies can manage the invoicing for all of them.
In addition, you can see when an invoice is read. You can also set up payment reminders, and create recurring invoices. For invoice apps that provide full functionality but cut down on invoicing issues, Billdu is a complete solution.
The Best Value
Accounting is an investment. But when you know the right tools and the ROI the technology can pay for itself.
Cut down on accounts receivable, manage cash flow, and eliminate bad debt. The new approach to financial management and planning will pay for itself.
Plus, you don’t have to pay a lot to streamline your accounting. With Billdu you can get premium services for up to 10 users for less than $12 per month.
Make your entire process easier. Billdu is a finance and time management app that will take your business to the next level.
See for yourself. Come register for Billdu now.
Crunching numbers for your business manually isn’t the best option. Don’t miss out on why every business should switch to an online invoice tool.
The last year has flown by. That little side gig you started ten months ago has grown… and grown. When you stop to think about the time you’ve put in… you realize it takes up most of your day.
Well, guess what? You’re a business owner!
While it’s initially easy to plug in your outgoing expenses and income, as you gain more clients you will want an online invoice tool to track these for you.
We get it. You’re self-sufficient. Why pay for a service that you can do yourself?
As a new business owner (or a long time one), your ability to automate as much as you can affects your bottom line. Curious to hear more?
Read on to discover how an online invoice tool will benefit your business and help it grow.
Be Part of the 40%
Did you know that only forty percent of small businesses survive past five years? I bet you want to know thier secret…Utilizing An Online Invoice Tool is What Set Them Apart.
Utilizing An Online Invoice Tool is What Set Them Apart.
If you’re a creative that has a constant flow of work, but that, er… business stuff you leave up to your accountant, you’ll want to listen to this:
A sad fact about new smaller businesses is that a mere forty percent survive for the long haul.
Want to know why?
Their owners have no problem getting work to come through the door. However, when it comes to cash flow, they have no idea where they stand.
Having a basic knowledge of how much is going out and coming in is imperative to your business staying afloat. Too many small businesses fail due to lack of business acumen and basic accounting.
By utilizing an online invoice tool, you not only demystify the small business accounting, but you simplify the process. Take the hard labor out of it allow the efficiency of these online tools to do the work for you.
Time is of the Essence
Lack of focus can kill a small business in its tracks. It is imperative that the ‘busy work’ such as keeping track of invoices, as well as generating them is an automated task. Also, by generating them you make sure all standard parts are present on the invoice. Time flies by when you are building your business. You want to generate income and brand recognition as soon as possible.
By integrating an online invoice tool into your business, you are able to hand off this necessary part of your business and focus on the task of working and marketing your business to new potential clients.
When generating a manual invoice, errors can easily occur. You might inadvertently write down the wrong numbers. The invoice might get lost in the mail. It might not get logged correctly.
These and a number of other mishaps could occur that make manual invoicing a time-consuming and error fraught part of your business.
By incorporating an online invoice tool you are automating this annoying part of your working day. The invoice is generated and emailed automatically. Your books are balanced and organized.
Leave It to the Cloud
With the online invoice tool, you no longer have to keep track of all of your invoices. No more scanning, no more filing. These are automatically uploaded into the cloud, which files them away for you to access at any time!
Ready to see your accountant? Find your stored data anytime in the secure cloud application and email it over!
Simplify Invoicing…Track Payments
You know that end-of-the-year headache? It starts when you schedule your annual meeting with your accountant. For months you agonize over it until… the night before, you scavenge through the pile of papers on your desk.
Searching… for… invoices. So that you can pull together what you THINK you made for the year. Your accounting doesn’t match your bank statements.
Let’s face it. It’s all a hot mess.
With an online invoice tool, you take the furious gathering of invoices and the messy accounting methods out of the scenario.
You present your accountant with one concise document each year. No more stress. No more headaches.
Pull Up That Invoice Anytime, Anywhere
Are you an on-the-go professional? Thanks to technology, many small business owners are mobile. They are able to complete their work from anywhere.
If you’re concerned about the ability to generate invoices while you’re away from the office, by using an online invoice tool, you can easily generate invoices from your laptop or phone. An even greater feature? You can generate invoices offline!
Add Eco-Conscious to Your List
With all of today’s online technologies, the old habit of printing out reams of paper doesn’t hold up anymore. With everything uploaded into your online invoice tool, all of your data will be easily accessible online.
No more clutter. No more wasteful printing. By utilizing this effortless tool, you’re not only doing yourself a favor by minimizing clutter, you’re running an environmentally friendly business.
Don’t Miss Out on Growing Your Business
While your online invoice tool automates the hassle-filled side of your business, added features allow you to:
- Gather feedback and ratings on your services.
- Utilize analytics features to measure the overall performance of your business.
- Save client data in an organized fashion, enabling quick communication as well as labeling capabilities for those old timey holiday cards you’re so fond of sending.
- Send data to your accountant with the click of a button. Long gone are the days of paper receipts in a shoebox – all the data is organized in one neat email!
- Track inventory – you will know how much is going in and how much is sold.
- Receive payments fast! No more snail-mail. Automate electronic invoice and bill payments.
- Create estimates for future work! Professional estimates can easily be generated for new or returning clients.
You Had Me at Hassle-Free!
Have we drilled our point through yet? By incorporating an online invoice tool into your small (or large) business, you are setting yourself up for success. Focus on the important parts of growing your business and providing great products and services. Your new online invoice technology will take care of the rest.
Ready to test it out?
We know you are! To get started, simply check us out here. And congratulations! You’re freeing up your time so that your business can grow.