Keeping track of your finance is one of the most important parts of business management and Invoicing ranks as number one. An effective invoicing system lets you monitor your customers, track payments and their outstanding balances. Besides, you current and future cash flow forecast upon which decisions are taken is based on what your customers have paid and what they are expected to pay.
Summary of Invoice Template:
- Name of customers
- Contact details
- Product sold or services rendered
- Amount and VAT charges
- Expected payment period
However, when your small business is growing on a minimal budget, it is important for you to watch out for certain features before buying an invoice software:
- It has to be cheap and within your budget
- It has to capture all the relevant transaction details
- It should track all customers and their receivables
- It should provide a payment button which, when sent to customers let them make payment online.
- It should be customizable with your business information and logo