Sales invoicing is another area of accounting that is labour-intensive and prone to errors when creating them manually.
There may be handwriting issues or typos, the calculations may not be correct, and the totals may not correlate with the calculations. Then there’s the issue of how you keep track of unpaid invoices?
There has been some automation progress such as the switch to word-processing invoices, but generally, this only solves the legibility issue. A spreadsheet is another method, but again, there are many, better options available! Some of these are free, some paid for but all show great potential to improve the invoicing process. Most accounting software solutions have a fully integrated invoicing and sales ledger module, but you do not have to go the whole way down this route if you do not want to.
There is dedicated invoicing software or you can consider newer alternatives like ‘SumUp’ that allow you to produce invoices online and send them for payment. If you send repeating invoices e.g., quarterly or annually for a subscription, this can be automated to be sent out at the same time every period. The ability to add Pay Now buttons to invoices can also help cashflow because they give customers a convenient way to pay as soon as they receive the bill.
Talk to us now – we can review your systems and suggest potential tweaks.
