As a business owner, you are aware of how difficult it is to keep track of invoices, expenses, projects, so on and so forth, especially when performed manually. The probability of human error is high. You can miss out on sending invoices, lose your receipts, lose track of your overheads, miss project deadlines, all of which will only translate to loss. No business wants to be in this situation. Thanks to business tools, it is avoidable.
And the best part is that some of the software is freely accessible online. The features and plans offered by free invoice software will vary from one developer to another. So, you will have to research all available free software, do a comparison and only then based on your requirements finalize the software.
So, are they good for your business?
To answer the first question, let us look at the advantages of adopting freely available invoicing software.
- It is free! What more do you want? Installing the software and using the predesigned templates to get your accounting system back on track without paying a single penny. Free software is especially beneficial for freelancers, small or medium enterprises that may not have the necessary capital to invest in such business tools, but are keen on jumping the digital bandwagon.
- It is a great place to start! There is no point in investing in costly software and then finding out it does not suit your requirements. The merit of free software lies in the fact that it allows you to try and experiment. You can install different software, try their interface during the trial period and then decide, which one to finally go for. Like mentioned before, every software will offer different features in their free versions, so try all of them out. It is free, after all.
- It makes digitization possible! It is impossible to progress today without having a digital footprint. Your clients, consumers and business partners will all expect it. And free software allows you to meet their expectations. On using invoicing software, you will automatically notice that your business performance improves as errors will become redundant. The professional-looking invoices and final reports will both impress your partners and also give a positive impression to your enterprise.
Therefore, overall free invoicing software can be super good for your business. It will help you track and manage invoices, expense, projects, employee time and generate accurate accounting reports in a matter of minutes, without errors. So, go ahead, explore various options, try and compare and finally discover and adapt the most suitable option!
What should you expect?
Now, we come to addressing the second question of what does free invoicing software offer in terms of features. Once again, every software will be different, but we have compiled a list of features that most are likely to offer.
- Invoicing– Starting from the primary function of invoicing software, it will allow you to generate error-free and quick invoices. These invoices can be in a predesigned template or multiple templates can be provided. You get full control to track and manage the invoices and also get a dedicated library to store them. Some will also offer the opportunity to customize the invoices with your brand name and logo. This is a really beneficial feature as it gives a personal and professional touch to your invoices. Collaborations with different payment gateways make it easy for you to accept remuneration in any currency. Other cool features can be setting recurring invoices that automatically get billed to the client on the due date.
- Extra Features– Apart from invoicing, this accounting tool can also offer supporting features such as expense management, project management, and time tracking. All of which are connected with invoice generation. In expense management, you can track any extra money being spent and redirect the money to useful pursuits. You can control the projects by dividing tasks and ensuring every hour being put on an assignment is being billed. Some will come with a client conversion feature that makes it easier to attract new partners.
- Reporting– A critical feature of invoicing software is report generation. For your business to make better decisions you need to get better insights and that is exactly what you get with this software. For every aspect, you will be able to generate reports. This can be accounting reports, profit & loss reports, expense reports, expense reports, project reports, client reports, etc. All data points in the software can be used to generate accurate and detailed reports. These reports can be generated whenever you want and the software does all the calculations, so no chance for mistakes.
Free invoicing software is a boon for your business. It makes your accounting operations more efficient, accurate, and professional. All of which will help you become more productive and profitable. What are you waiting for? Start exploring free invoice software, today.