Introduction to online invoicing 5
What to look for in an online invoicing system
Businesses oen underestimate how complex invoicing can be. For example, you may decide to
accept dierent payment methods, such as bank transfers, to lower your costs on large invoices.
Collecting these bank payments can be tedious and error-prone without the right tools to help.
If you start sending invoices globally, you’ll have to navigate dierent regulations that govern
invoicing in each region where your customers are located.
Finding the right online invoicing system can ooad these manual, repetitive tasks and simplify
your operations, saving you time and resources. All your invoices and payments can be stored
digitally in one place, creating a single source of truth for your accounting, finance, and legal
teams. These advantages compound over time as your business grows and you manage a larger
customer base.
While most online invoicing solutions let you customize invoices, accept credit card payments,
and surface basic reports, the best options oer advanced features to help you get paid faster,
create a better payment experience for your customers, and integrate into your existing
workflows.
Here are four things you should look for in an online invoicing system:
Ease of use
Find a solution that lets you easily create new invoices and edit existing ones. You should
be able to customize the look and feel of your invoice to match your branding, adding your
logo and company colors. You should also be able to update the invoice number, product
details, payment terms, customer information, tax rates, and line items, and have the ability
to add discounts, coupons, legal footers, and notes. Ideally, you can save all these details so
you’re not starting from scratch with each invoice.
You want a variety of ways to share invoices with customers based on their personal
preferences and internal processes. For example, you may want to text an invoice link to
some customers and email others a PDF version. The best online invoicing systems allow
you to automate this process, triggering customer emails when an invoice is ready and
sending reminder emails based on payment due dates.
Support for a variety of payment methods and reconciliation tools
Customers expect a relevant, familiar payment experience, and the easier you make the
invoicing process, the sooner you’ll get paid. Get paid faster by using an online invoicing
system that supports a variety of payment methods, such as cards, ACH credit, ACH
debit, checks, and bank transfers. For example, customers complete payment three times
faster when using digital wallets such as Apple Pay or Google Pay than when they have to
manually enter credit card information.
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