Online invoicing is the today and the tomorrow of the invoicing. You will get several reasons why online invoicing is better compared to emailing PDFs or traditional paper invoices. While online invoicing may have some limitations, the pros outnumber the cons any day.
What is an invoice?
An invoice is a payment request issued by a merchant to the buyer of goods or services after the sale, detailing what goods have been provided or work is done and how much need to be paid in return.
An online invoice is:
- Structured invoice data in formats like XML or EDI, created in invoicing software.
- Structured invoice data issued using web-based forms.
Why is invoicing important?
Every merchant must have come across the term invoicing when he has sold product or services ever. Being in any business, you will have to invoice your customers. This task may be time-consuming and tedious, yet essential. If you don't invoice your customers, you won't get paid. And if you won't get paid, you won't have enough funds to stay in business. That's why creating and tracking invoices should be given some extra attention for the sake of your cash flow.
As a merchant, you send invoices to get paid for your work. An invoice is used to provide your customers with details of the transactions. Sending a bill is the proper way to ask your customer to give you the money they owe you.
From a customer's aspect, an invoice spells out what the customer is paying for. Besides, the document is used for bookkeeping purposes. This financial document is essential to keep track of sales transactions. An invoice functions as evidence of the trade for business taxation, as well as in case of any legal issues arising.
Benefits of Invoicing
Invoicing made easy
Get a quick and hassle-free way to generate invoices while you are out or in a job. So, you are free to head straight to the next one.
Simple and secure
Give your recipient an easy way to make payment with online invoices. Track invoice opens payments and automates invoice payment reminders.
Payments with a click
Online invoicing software lets your customers choose the payment link on your invoices and make the direct payment instantly online.
Design your own invoice
PayCly aids the feature in designing your invoice by adding your logo to existing invoice templates or taking complete control and generating custom invoices for your customers.
Forget about the chase
We get you the ability to create automated invoice payment reminders for your customers, with tailored email messages and notifications when they're opened.
Track payment as they are made
Get up-to-date with your business with our invoicing solution; the sales and invoices dashboard supports you in tracking your incoming money. You get entitled to see all your outstanding and overdue sales invoices in a flash.
Financial Reporting and Analysis
Forecast your finance with a detailed report accurately with the help of PayCly. Expenses, staff productivity, project and estimate, generate all reports from the single dashboard. Keep your business performing and growing.
Business Entity Reports
Now easily generates business entity reports for forecasting finances and analyzing expenses.
Increase Business Profitability
- Client: Generate and print client reports easily for quick analysis
- Purchase: Generate a comprehensive list of purchase orders and activities.
- Staff: Get detailed staff reports for tracing staff activities and performance.
- Item: Analyze and share item reports with clients/ report listed total no of each item invoiced for, item name and more.
Manage business debtors with detailed invoicing ageing and outstanding reports. Easily access outstanding and received payment reports better to control cash flow with cash flow management software.
Calculate ROI and Productivity
- Currency: Proper record maintenance indefinite currency options.
- Profit/Loss: Easily set up profit and loss tracking to inspect reports.
It gives you full control over the money you have invested, and detailed reports help you track and forecast finances for better productivity.
More Powerful Features
- Time tracking: Displays useful time tracking information that shows original and current time estimates.
- Expense: Manage expenses in a single dashboard. Manage expenses easily with a transparent structure with an invoice.
- Generate detailed invoice reports.
- Get a summary of outstanding revenue and sales tax.
- Customize reports according to need.
- Generate detailed estimate reports.
- Get detailed Credit Note reports.
- Generate detailed work-in-progress reports.
PayCly understands the need for a robust invoicing system for your business. We are well aware of all benefits of an effective invoicing solution. Also, we know how it makes your business more efficient.
Make your business more profitable and more organized with our invoicing tools. Join the PayCly family and be a part of a change.