Technology

Top 6 Invoicing Platforms for SMB

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Every small business owner understands the importance of a reliable invoicing platform. Choosing the right one for your needs isn’t just about making sure you don’t have to worry about cash flow (although that’s essential). Accounting software should also be easy to use, mobile friendly and able to deal with financial and expense reports in relatively automated fashion.

Here’s a list of platforms, created with having these all-encompassing standards in mind.

FreshBooks

FreshBooks is cloud based invoicing platform and its simplicity and intuitive software is what makes it special. It comes in the form of a mobile app (available for both iOS and Android). Installing and using is quite simple and doesn’t require a credit card number, just your company name and e-mail address. There’s also a variety of handy options around your billing practices – you can easily initiate repeat billing, calculate taxes or (and this may be most useful of all) get a notification when your client views or pays an invoice you sent.

Harvest

Harvest is first and foremost a time tracking application, but it comes with a functional invoicing option. It allows you to track all measurable aspects of your business (working hours, how long do the supplies last and most importantly how much and when are you getting paid). If your invoicing is based on the amount of time put into work, this is the solution for you.

PromisePay

PromisePay aims to be more than just an invoice platform it’s a payment service provider that manages the entire transaction from start to finish. It integrates more advanced features such as dispute resolution, fraud detection and escrow with invoice financing. This simplifies the process for the customer and also makes it more affordable, because it cuts out the most expensive middle man (customer service team of experts which handles payments disputes).

Due

Due comes with an easy to use dashboard featuring all of your clients and their upcoming payments. This gives you a quick overview but you can go more in depth with just a couple of clicks. It’s integrated with PayPal payments and it works with 100 different tax systems from all over the world. This tool also allows you to embed your invoice directly on your company website, so clients can make their payments right away.  It’s also free if you have less than five payments per month.

Invoicera

Invoicera’s flexibility is what stands out. It can be used by freelancers, small and medium sized business or non-profits alike. It has a free plan for the smallest of enterprises and after that the number of automated billings and staffers in support team increase as the price does. It also allows you to forecast your revenues for the near future which is great for creating short or midterm plans. Invoicing reports for Invoicera are extremely detailed and can be automatically transferred to PDF and translated into several languages for those with global businesses.

Wave

Wave accounting tool has decided to focus on a very specific niche and to base its appeal on one very simple fact. It’s meant to be used by businesses with under ten employees and it’s free. It’s no surprise then, that it doesn’t come with a lot of advanced options their competitors have (no cash based accounting, no easily viewed balances and slow bank feeds). But if you have a very small business Wave does the important work of getting your payments in time for you, for free.

Obviously there’s no one size fits all solution to invoicing platforms, when choosing which one you’ll use, consider the unique needs of your business.

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