Starting a side hustle? Here are 4 tips to manage your finances
To ensure the success of your side hustle, you need healthy financial habits. Start with a goal and manage your cashflow with accounting software.
Only the right solution lets you spend less time managing invoicing and payments and more time growing your business.
Invoices are an essential part of most businesses’ finances.
A properly designed invoice helps you get paid on time, provides legal protection for you and your client and validates your company’s revenue. While invoices are undoubtedly important, you can avoid spending time or energy manually generating them.
Manually generated invoices can often have errors that can lead to late payments and ultimately harm your business’ chance for success. Constant cash flow is necessary to maintain utilities like electricity, to pay staff and purchase supplies. When payments are delayed, it can create significant problems.
When payments are delayed, it can create significant problems. Small businesses spend an average of 130 hours each year chasing late invoices and often do not receive outstanding payments until 30 days after the contractually agreed terms.
With invoicing software you can easily create, edit and send invoices from anywhere, at any time. An automated billing system promptly dispatches and tracks invoices to help reduce the risk of late or missed payments. Invoicing software can also remind customers and clients about upcoming deadlines.
Unpaid invoices happen for many reasons. One of the most common reasons is when statements contain errors. Invoices include crucial information about your company, your client and the services they provide. Clients could refuse to pay when this information is incorrect or fails to match their records.
Invoicing software avoids human error by storing customer data and automatically generating statements. Sage also offers invoicing templates to make it easy to create professional invoices. Our templates work smoothly with Sage invoicing and accounting software. It makes payment processing easier to prevent wasting valuable time. You do not have to worry about typos delaying important payments.
Accounting software can automatically reconcile your incoming payments which means less time wasted on the manual transfer of data.
Track your income, expenses and more using a single solution. Use one helpful dashboard to view the state of your accounts receivable and what money is coming in.
Invoicing software has everything you need to keep your business running smoothly. Find out more to see which solution best suits your business.
Aisha Gasangwa, HR Manager
Newscafe, Kenya
To ensure the success of your side hustle, you need healthy financial habits. Start with a goal and manage your cashflow with accounting software.
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