Home > Uncategorized > Clicking your way through finances and bookkeeping!

Clicking your way through finances and bookkeeping!

The times of long hours spent with a calculator, doing numbers and tracking money are long gone. It has never been easier to manage the financial aspects of your business than now, with the help of billing software. It helps you with the creation and distribution of invoices, the inventory management and with the needed reports.

In order to make proper and full use of the invoicing software you must first implement it correctly and in order to do that you have to understand its parameters and mechanisms. An invoice is basically a list of services or products that you offered to customers, including the prices of those products and the charges of the services. You can set the billing software to generate a template invoice, which must contain the company name and address and a contact person. Other features that are necessary for correct invoicing are a number for every invoice, a date of issue and a due date, regardless of whether the invoices was carried over or contains a carried over balance.

The invoicing software has the advantage of recognizing whether an invoice matches one purchase order or several, or if it includes additional fees that aren’t from the order, but from taxes, late payments or sometimes even discounts. Therefore, a special interest should be given to the chronological order of events in order to enjoy an accurate billing process. In an inventory software, it is of great importance to be able to track down any piece of information that was previously stored in the billing software memory. The data stored grows over time, turning into quite a history so being able to see when something happened and what exactly happened is desirable. An invoice is sent to a client because that client bought something from you, hence is only logical that there should be a purchase order before an invoice exists. The same thing is valid when it comes to payments. Proof of payment can only come secondary to the issue of an invoice.

For both you and your clients to fully enjoy the perks of a billing software, your clientele must also use the same application. It’s a basic requirement that they create a profile and update their contact information, bank details and submit payments. For the same reason of proper function of the inventory software, all this information has to exist in the application prior to its actual use.

All in all, acquiring an invoicing software it is a smart move on your part, because not only does it take care of all the accountancy reports that you must submit to the authorities or the ones you need for company overview, but it allows you to receive and share all that information in any format you want or like, from Word or PDF to Excel or even HTML. It is an easy to manage product, that can also make currency transactions and also trace the level of your stocks, even if you’re managing multiple businesses.

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