Want to know the best invoicing software for small businesses in Nigeria?
Hang on, this article will provide you with a clear explanation of the invoicing software that works best for you as a small business owner in Nigeria.
What is the need for online invoicing software? Is it necessary or is it just another techie stuff?
For small businesses, paying attention to cash inflows is given to remain afloat. To achieve this, how you invoice your customers is a determining factor to how much money is entering into your business, and its frequency too.
If manual bookkeeping and accounting are a no-no for you, then read on.
This post will be addressing the best option for online invoicing software.
What Is Online Invoicing Software
Features Of Online Invoicing Software
Why Online Invoicing Software
Benefits Of Online Invoicing Software
Introducing Tyms Book Invoicing
What Is Online Invoicing Software?
The first thing to note about online invoicing software is that as the name implies, it is not like the paper invoice that is commonly used by businesses. It is a software.
It is a tool that is automated to generate bills for customers and clients. It shows the services rendered with prices and the total amount to be paid.
Online invoicing software works with the data supplied to generate invoices while classifying the invoice work and unbilled ones. This technology operates in a manner that in one click carries out all outstanding invoicing operations.
Features of Online Invoicing Software
Here are some of the key features of online invoicing software:
Invoice creation: An online invoicing software allows to create customized and professional-looking invoices for customers and clients. It gives you room for branding.
Multiple currencies: With online invoicing software you can integrate payment gateways and third-party payment options in different currencies. If you have customers across the globe, this comes in very handy.
Payment processing: You get to see receivables due for payment by customers. Also, remind customers of overdue payments.
Customer records: Your customer database is securely connected for you to easily retrieve customer information to generate invoices automatically. Also, it allows you to summarize and audit customers' purchase and payment history.
Tax reporting: This is another feature with online invoicing that allows generating reports for tax filing. You don't have to go through the hassle manually, with your invoicing system, information regarding taxes is generated.
Why Online Invoicing Software?
To answer the question of why online invoicing software, we have to consider that cash flow is an integral part of small business success.
Bear in mind also that, unlike big companies, you don't have money to throw around. Issues about cash flow management affect small businesses easily.
What better way to attack this than to adapt to the use of a technology that improves your cash flow performance?
You may want to check out this article on how online invoicing software helps you to get your customers to pay you faster.
Benefits of Online Invoicing Software
Generate Invoices Anywhere
Thinking of the benefits of online invoicing software, think of the ability to generate invoices anywhere you are. The technology is not location sensitive—-you don't have to be at the office to generate and send invoices to customers.
There is no excuse that you need to remind a client of a due payment with an invoice and you are unable to do so. With your device, you can attend to this need from wherever you are.
Minimize missed payments:
A lot of small business owners fall into the trap of missing out on payments on scheduled dates because there is no system for tracking customers' billing commitments.
This can never be the case when you are using online invoicing software. The system is automated to even send reminders to customers when payment is due
This way missed payment is reduced to the minimum.
Safe and secured
With online invoicing software, your invoices don't get lost. No matter how long it takes, with the secure system backed up on the cloud, you can always pull out invoices for the purpose needed.
Have you ever been in a situation where you could not reconcile differences concerning payments with a customer because either party lost an invoice? When using online accounting software the safety of your documents is guaranteed.
Because of the automated system of online invoicing software, a business can save time doing other activities while things like generating invoices and reminders can be sorted out by the software. Especially as a small business owner who may not have sufficient staff to manage different activities.
Improve your cash flow
The kind of invoicing system you use may be the reason for poor cash flow. Negligible actions like not sending reminders on time or not sending invoices as soon as deals are sealed could hamper your cash flow.
Don't shoot yourself in the leg
With online invoicing software, many activities are sorted out for you. Even if you have a lot to handle, chasing customers around for money won't have to be among them.
Minimize late payment
There are always those customers who if you don't chase, won't do the needful. If you fail to adequately monitor your receivables, you may have a lot of late payments on your hands. A good way to evade this is to use online invoicing software. It sorts out payments with bills and can be automated to send reminders. This way late payment is minimized.
Introducing Tyms Book Online Invoicing
Tyms Book online invoicing is an automated invoicing system that generates customized and professional invoices for customers.
It contains the following features: narration, invoice number, customer, invoice date, due date, status, amount, payment, outstanding, and action. It is structured in a manner that you can easily track your receivables in one place. You get to see which payment is due and monitor customer performance.
Also, automated reminders are part of the functionality of Tyms Book invoicing.
To access Tyms Book invoicing, register to use our all-in-one accounting software to enjoy these features.
Sales and invoices go hand in hand. Since you are in business to make sales, the way you do your invoicing matters. Don't be stuck in your old manual invoicing.
Save time, space and preserve the environment by going paperless.
Missing payments and late payments should not be part of your issues when you can automate the process and focus on more demanding tasks in your business.
Register and let's get you started. Click on Tyms Book.