Invoice Softwarewhat is the best option for you?by FitSmallBusiness.com

Free Templates vs. Invoicing System vs. Full Accounting System

Invoicing options can be broken down into the following three categories:

1. Free TemplatesBoth Google and Microsoft word offer free templates (here and here) which you can add your company information and logo to.

2. Invoicing SoftwareThe software programs dedicated specifically to invoicing are Harvest and Billquick. Although Freshbooks is also an accounting software it is primarily known for its invoicing capabilities, so we include it in this category as well

3. Full Accounting SystemsIn addition to offering integrated accounting and payroll services most accounting systems also offer the ability to send invoices.

Company Wave Freshbooks Harvest BillquickOnline

Monthly Cost Free (unlimited clients)

1 Client Free25 Clients Unlimited

$19.95

1-3* Users $125-9* Users $49

*(each aditional user $10)

$14.95$24.95

depending on features

Payment Gateways

Stripe Paypal + 13 Others

Paypal +Stripe +

Authorize.net

Paypal + Intuit Merchant Services

Company Wave Freshbooks Harvest BillquickOnline

Time Tracking No Yes Yes Yes

Other Integrations

Wave Accounting Sage50 and other services

Quickbooks (windows version)

and many other services

Quickbooks, Sage50, MYOB

Company Wave Freshbooks Harvest BillquickOnline

Other features Accounting + Payroll Accounting None Project

Management

Customer Service

EmailPhone / Email

M - F 9am - 6pm EST

Phone / Email M - F 9am - 6pm

EST

Email. Phone for those paying full

featured packages.

which package is best for you?

If you don’t need sophisticated features like tracking, then it normally makes sense to use a c c o u n t i n g s y s t e m s l i k e Quickbooks.

WaveIf you simply need to send invoices and get paid and don’t need any additional things like time tracking or the ability to integrate with a merchant services account, then Wave will be the best choise with a straight forward and easy to use package.

Freshbooks:If you are looking for a simple solution like Wave but need the ability to accept payments through other methods than stripe, then FreshBooks is for you.

Harvest:If you are a small company that needs time tracking software, then Harvest is the most straightforward time tracking + invoicing software on the market.

Billquick:If you are a larger company that needs time tracking, project management, and invoicing integrated into one package then Billquick is the package for you.

Creating your Invoices

Things Every Invoice Should Include:•The name, address and billing contact of your firm.•The name, address and billing contact of the client•Invoice Number•Invoice Date•Total Amount Due

•Itemized list of Charges•Any applicable taxes•Payment Instructions•Any info needed to complete payment instructions.•Accepted payment methods and payment details.

payment terms

The payment terms you include in your invoice can have a definite impact on the speed at which you are paid. The online invoice service Freshbooks recently analyzed data on payment terms and found some general trends that help you get paid faster:

•Be polite. Use terms like “Thank you for your business. Please pay within ... days”.•Be specific on the days they have to pay, avoid using terms like “Net 30”.

•Adding interest to late payment can delay the speed they pay but increases the payment rate.•Overall, Freshbook suggests payment terms such as:

•“Thank you for your business. We do accept payment within 21 days, so please process this invoice within that time. There will be a 1.5% interest of charge per month on late invoices”.•See the full article here.

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See the full article here