Top 10 Invoice Management Softwares For Small Businesses

Introduction

Controlling the accounts of your business, be it large or small can be a tedious task. Generating and delivering invoices to your customers is a task that you must stay on top of. However, the digital age has found a way to streamline this process as well. Invoice management software is an important fixture for your business. However, the software best suitable for you depends on the nature of your business. Here is a list of some of the best invoicing and accounting software available in the market.

Freshbooks

Freshbooks is perhaps the best software on the market. It is multifunctional and can perform accounting as well as invoicing functions. It generates invoices, allows electronic payments and tracks the payment status on a single platform. It has accounting modules which are independent of the invoicing.

The software has an intuitive user interface which makes it very easy to use. The user support by the developers is remarkable. This ensures excellent service in case of any glitches. It can be easily integrated into the business. It can also generate and track invoices, and create projections and reports automatically, which minimizes human error.
Freshbooks is incredibly affordable, starting at only 15 USD per month, although, the best options for small businesses are around 25 USD per month. The Premium version is at about 50 USD per month. It is ideal for small businesses, although it cannot cope up with the requirements of full-blown project management.

Zoho Invoice

Zoho Invoice is an invoice management application from Zoho. It is part of the suite of products like Zoho CRM, Zoho Projects, Zoho Expenses, etc. It is a great alternative to Freshbooks. It can be easily integrated with other Zoho products.

The software is reportedly easy to use and makes accounting a simple job. It can generate recurring invoices automatically. It also does the job of sending timely payment reminders and thank you notes. This is especially helpful for solo entrepreneurs and small business who then save up on manpower. As it can link with other Zoho apps, it gives you comprehensive control over your sales pipeline.
Zoho is very cheap; the version most suitable for small businesses costs 9 USD per month. Although Zoho offers a free version of the software, it limits the number of users and customers. However, it is recommended that you use Zoho Invoice only if you use other Zoho apps. Otherwise, Freshbooks is just as good an option.

Xero

Xero is a cloud-based web application. This in itself gives it some advantages over the competition. There is no need to worry about compatibility or installations. All reports, ledgers are available on all devices once you log in. It provides all standard services such as automated invoices, tracking, inventory, sales, and purchases, etc.

A unique feature of Xero is customizable invoices. In addition to the invoice templates, Xero allows you to design your own invoices. It is also very secure with multiple backups and secure servers. It also allows you to import previous accounting data. This makes transitioning to Xero fairly simple.
Xero offers the basic plan at 9 USD per month, an intermediate plan at 30 USD per month, and an advanced plan at 60 USD per month. The intermediate plan is perhaps best suited for small businesses.

Quickbooks Enterprise

Quickbooks has other platforms for accounting and invoicing. However, Enterprise is perhaps the best one. It offers complete financial solutions that are not limited to invoicing and accounting. It also provides vendor management, automated reports and a lot else.

Additionally, Quickbooks Enterprise offers excellent customer management service. You can design your own invoices, automatically generate invoices, and schedule the sending of the invoices. You can also manage multiple customers at the same time. It allows you to send reminder emails to customers whose invoices are due.
This software is rather costly, priced at 1100 USD per year. Frankly, Freshbooks is a much better option.

Invoicely

Invoicely offers all the features expected of invoicing software. It automates invoices and accounting, enables electronic payments, sends payment reminders and automates recurring invoices.

The salient feature of Invoicely is that it can be used to manage accounts of multiple businesses at a time. It also manages the expenses of each business independently. You can link the financial activities of your business if you wish to.
Invoicely offers the Free, Basic, Professional and Enterprise plan. The professional plan at 20 USD per month is perhaps most suited for small businesses.

BQE Core

BQE core is software suited ideally for medium level and fast expanding businesses. It is a powerful tool that goes beyond invoice management. It also has complete control of accounting and project management. It can track the project processes, expenses and record these in detail. It can include these details during invoicing, giving the customers complete detailed invoices.

BQE Core is based on modules. This means you can employ only invoicing services if you want. The interface becomes more complicated with the more number of modules you add. It also automizes the invoicing and tracking operations, generates reports and gives details on the profitability of projects.
BQE core only charges for the modules you use, so that you do not pay for any extra service that you do not use. The base module is at 9.95 USD per month, with the optimum billing and invoicing tools cost about 19 USD per month. This software is highly recommended for growing businesses.

Invoice2Go

Invoice2Go provides for all the accounting, invoicing and expense management needs of your business. It automates invoice generation and sending, tracks status of the invoices, and performs all the other standard functions of invoicing and accounting software.

This software can be run smoothly on a smartphone. This gives the user the advantage of mobility. One can manage the expenses or send invoices from a smartphone itself. It also offers customizable invoice designs and templates. It is also quite easy to use.
Invoice2Go starts at about 20 USD per month. While this is cheap, the low-cost versions have many limitations. The Unlimited plan is priced at 34USD per month. This plan allows the user to operate the software without any user or customer limits.

Wave

Wave is an online application for accounting and invoicing. It performs the standard tasks of automating the invoicing, recurring invoices, accounting, expense management and tracking extremely well.

Wave is set aside from its competition by its enthusiastic and active developer community. It rolls out minor updates very often. It has added features and tools such as Cash Flow reports, ACH payments, and many other developments. It also has a remarkably simple user interface that is easy to adapt to.
Another aspect that makes Wave unique is the fact that it is completely free. There are no advanced plans or subscriptions that need to be paid for. This makes the software a great choice for budding entrepreneurs and businesses.

Invoicera

Invoicera is much more than invoicing and accounting software. It includes an expense management tool at no extra costs. It provides all the standard services that are expected of invoicing software. It includes invoice generation, electronic payments, tracking, etc.

Invoicera allows the scheduling of invoices and reminders. This makes generating and managing recurring invoices much easier. However, these features are offered by some other software as well.
Invoicera offers the Starter, Pro, Business and Unlimited versions. The unlimited version is priced at around 149 USD per year, which is quite steep compared to its competitors. Freshbooks offers its premium version, which has the same features as the unlimited plan at merely 50 USD per month.

Intacct

Intacct is standard invoicing software. It automates invoice generation and accounting. It is cloud-based and integrates with other CRM or project management software. It also automates most of the calculations, which reduces the required human effort to a great degree.

The software is very flexible and can adapt to a growing workload without any changes. It is able to handle sharp increases in customers seamlessly. It performs the other standard functions like sending payment requests and tracking invoices automatically as well.
The price of Intacct is quote based and there is no minimum pricing. You must contact a Sage agent in order to get a customized price.

Conclusion

The market is flooded with options for invoicing software. It is imperative for you to choose software that covers all your needs effectively. Therefore, detailed research is necessary for choosing the best-suited software at affordable costs. The above summaries of the software available in the market will surely help in making an appropriate decision.