You've completed important client work or shipped your product and now you're waiting to receive payment on your invoice.
As a self-employed businessperson, one of the key challenges is ensuring you get paid on time so your cash flow is consistent—and it’s often a struggle. Many people in businesses, especially those in startups and small business, feel uncomfortable asking for money repeatedly, but your cash flow is the life-blood of your business.
If you don't get paid, you won't survive.
Invoice software can help you get paid on time.
Without a process for getting paid, invoicing can be difficult and easily fall to the back of the priority queue. The good news is, with invoicing software you have all the features you need to create, edit, and send invoices from anywhere, at any time.
An automated billing system promptly sends out invoices and tracks them so you won’t receive payments late or miss them altogether. Plus, when using invoicing software, you can avoid workflow issues and track expenses and revenues across every stage of a project.
Mastering the movement of money in your business. It's important to know who to pay, and when. Customized statements of what's going in and out of your business will help you monitor what's outstanding on each invoice you’ve sent and received. Then, you can keep suppliers happy by paying them on time, with zero hassle, and spend more time on your customers.
Having a firm grasp on your cash flow also helps you decide about expanding or changing your business model.
For example, do you spend too much time keeping track of day-to-day transactions or chasing invoices rather than focusing on growing your business? Logging accurate data and following up with customers is critical—but whether you use a spreadsheet, a ledger notebook, or invoicing software, record keeping is just the beginning.
An accounting solution can take your invoicing to the next level by analyzing and interpreting your financial data, which gives you an overall picture of your business’s profitability. What’s more, it will help you streamline your accounting and focus on your core responsibilities, like empowering your people and winning new customers.