The best invoicing software allows you to create invoices and keep track of expenses. It also generates reports. It can also be used to monitor mileage and time and generate estimates. Some invoicing software comes with additional features such as payment processing and inventory management tools. These are useful if you need to collect the money or automatically send reminders.
If you’re a small-sized business that has limited invoice requirements, you might be better off using simple, free options like Wave or Invoice Simple. They are simple to use interface, and are focused on invoicing, not other business processes. On the other hand, paid invoice software such as Invoicely provides more features like client tracking and a dashboard with an invoice breakdown, as well as the ‘Recent Activity’ log. However it is important to remember that the free version is limited to users to five invoices per month.
FreshBooks or QuickBooks are the most suitable options for those who have numerous invoicing and accounting requirements. These applications typically feature more complex user interfaces as well as additional accounting tools like budgeting and project planning. They are more expensive than other invoicing applications, but are often worth the cost for small businesses and freelancers looking to gain information about their financial performance.
In addition to the usual invoicing capabilities, some alternatives include expense tracking. This will help you track and categorize your business expenses which can be used to calculate tax liabilities. Some invoicing platforms may integrate this feature with their billing and project management tools, which will save you the hassle of switching between separate systems.