Billing Software is an advanced program that is designed to automate the billing and invoicing process. Billing software can track product information, employee working hours, expense, client bills, sales and services, the payment received to date and purchase orders.
Last Updated on : 03 Aug, 2021
Found our list of Billing And Invoicing Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!
Billing Software is an advanced program that is designed to automate the billing and invoicing process. Billing software can track product information, employee working hours, expense, client bills, sales and services, the payment received to date and purchase orders. GST billing software also helps generate invoices for customers as well as track the expense related to any project. Billing and invoicing software works in tandem with other accounting and billing, and bookkeeping systems to ensure complete control over your financial data.
Billing software refers to a tool that generates invoices automatically for payments rendered post-purchase of services/products. Invoice making software plays a key role in any company’s inventory and billing, accounting, and purchasing operations. GST invoicing software comes in all variants – from basic systems, which can only create invoices and ensure that accounting figures are accurate to advanced systems capable of creating an audit trail.
GST billing software enables businesses to file their GST returns easily. This is achieved by pushing transactions directly into the GST portal. Also, you can make your business GST compliant by preparing and filing GSTR-1, GSTR-2, GSTR-3, and GSTR-4 return online effortlessly with billing software for GST.
The online billing and invoice making software features allow an easy and quick accounting and billing, invoicing and tracking of all the payments, and calculating taxes and checking real-time reports. This online invoice tool helps in viewing business progress at any stage, at any level.
The debt collection feature of billing & invoicing software ensures whether the overdue bills have been collected or not. You can also identify and resolve issues quickly and eliminate issues in the debt collection process.
Found in many top-notch accounting and billing software, this feature helps the user in generating invoices on a recurring basis, irrespective of the customer's billing cycle. With automatic recurring billing, you can view multiple recurring items and cycles, with a detailed description and date of sale on the same invoice. You can manage both individual accounts and dealer accounts for items such as monitoring fees, maintenance, lease, rentals, etc., which occur on a recurrent basis.
A staple feature of any top billing and invoicing software available in India, it helps manage the indefinite number of contacts easily as you get easy yet secure access to an entire repository of contacts.
You can generate comprehensive financial reports quickly without a fuss and track payment history and sales by product/history. The best software for billing and invoicing also helps with inventory management. You can even set-up filters to clean data as per different months, quarters or financial year with the best billing software.
Generate invoices and other billing information pertaining to customers in a jiffy with the top ERP software for billing and invoicing. Top billing and invoicing software solutions can easily link sales contracts with the account receivable module. The processing starts as soon as you make a sale or render a service. Most inventory and billing software provide a great deal of flexibility to ease the sales order billing and contract billing process including recurring invoices. What’s more, you can support and execute service and maintenance contracts with deferred revenue recognition through advanced invoicing. You can also create accurate customer invoices as final price extensions, discounts, taxes, and expenses are automatically calculated and itemized.
With the best invoice maker software, you can simplify the processing of large volumes of documents, approve eligible shipped orders or delivered contracts in the blink of an eye. You can generate, print, credit, and debit invoices, and maintain a complete audit trail.
GST invoice software helps create a multitude of invoices, manage the billing process and update both the company’s accounts receivables and general ledger. Moreover, if you wish to inquire about any transactions or balance details, you can do so in a few clicks with the top billing software in India.
The billing software comes with advanced online invoicing features along with in-depth tax reports. GST billing software brings simplicity to the various tax details pertinent to taxable and non-taxable sales.
With the best billing and invoicing software in India, you can generate vital audit information, such as sales data, expenses, taxes, and financial impact, in addition to basic invoices and other billing documents. Through the ERP Billing module, you can capture fully detailed data to utilize it in accounts receivable subsidiary ledger, sales analysis reporting and more.
Before you choose a billing and invoicing software, you should check once if the features match with your needs. With the best billing and GST invoice software, you should be able to manage different accounting functions easily. Some of the essential functions of the best invoice billing software are:
It’s an essential module of any top billing and invoicing software and helps manage myriad accounting tasks with ease. Tasks such as maintaining the ledger account payable & receivables, bank reconciliation, your assets (fixed and variable) as well as liabilities, are managed by the accounting module of the best billing and invoicing Software.
This tax management module of any accounting and billing software assists in carrying out tax calculations automatically, along with tax reporting and integration of multiple tax rates. You can easily collect tax information from all financial documents into one single repository to generate reports necessary for tax filing.
You can send invoices in the local language and the official currency of your clientele using the best GST billing software. You can also choose to be paid in the currency of your choice. In addition, you can set and update language & currency in real-time. Since the conversions in currencies are done automatically, you can easily keep a tab on any currency gains or losses.
Found in the best GST accounting software, the GST tax invoicing module helps create GST compliant invoices. The main purpose is to charge the tax while passing on the benefit of input tax credit to the businesses. This module helps create accurate invoices that help to file GST returns an easy affair.
This module of the best billing software in India brings a new facet to how you can view and edit documents. Advanced document options include the ability to show the amount in words, the signatory field, or round-off the total amount to the nearest even number.
The data backup module of billing software enables you to store and keep your data secure on the PC and the cloud. Its data restore feature also protects your invoicing database from catastrophic events such as power failure, fire or earthquake.
With billing reports & purchase order module, you can easily create unlimited purchase orders which can be converted to bills as needed. In addition, the software for billing and GST invoice generates billing reports based on the purchase bills as and when required.
A part of top billing software, this module lets you store customer and banking information and migrate billing data from legacy systems by integrating CRM software with secure database development. This makes bill payments convenient as you can integrate mobile apps with card-on-file platforms.
You can process payments via multiple platforms such as Visa, Mastercard, Amex, and Discover. Found in top billing software, the payment processing system helps accept partial, future, recurring, automatic, and one-time payments without a hitch.
The best invoice maker software for online invoicing helps eliminate duplicate records, saving you a bundle of inaccuracies and unsought pain.
With the best billing software, you can automate and streamline your mundane everyday tasks. Tasks such as collection, organizing, and analysis of your most sensitive data become a piece of cake. This is beneficial as you can then focus on investing your money in areas where it can be better utilized.
The best billing and invoicing software is used to manage subscription-based services that require a high degree of administration. The beauty of top invoicing and billing software is that along with supporting services that are billed recurrently, it also supports free trials, discounts, refunds, renewals, and one-off transactions.
Using the best GST invoice software for billing, you can schedule invoices to be sent automatically at specific dates and times. Moreover, you don’t require the services of an accountant or a bookkeeper to do the sending, helping you reduce your overheads. Furthermore, you have the facility of generating invoices on the go without being restrained to the confines of an office.
With the best invoicing software, you can do away with the hassle of checking your bank account every 5 minutes to find out if you’ve been paid or not. With automatic tracking, you immediately find out which invoices have been paid, which are due and those which are past the due date. You can get an overview of the money owed to you on a single screen. Along with this, you can set up your own personal reminders to ensure you don’t skip out on any invoices.
One of the main objectives of cloud billing and invoicing software is to lower the time taken between sending an invoice and receiving the subsequent payment. You receive automatic notifications and updates when your invoice is opened by the customer. Plus, your clients can make payments through various payment portals online. The best GST billing software in India uses encryption technology to safeguard invoices, ensuring only those with access can use them.
You can keep a better track of the company’s cash flow by sending invoices to clients directly through the best GST invoice software. Every company’s process differs, some choose to send invoices weekly, others make it a monthly affair while some prefer to send invoices every quarter. In addition, you can send out new invoices with a few clicks eliminating the need to search for old invoices. Lastly, you can easily number your invoices correctly by either using a unique client number or a sequential numbering system.
By keeping your invoices online right from the beginning, you won’t have to scan or print them out. Everything will be archived, indexed and stored electronically with top billing and invoicing software. Even though switching to online billing and invoicing software won’t make your office paperless, however, you’d have made a huge stride towards getting rid of paper altogether.
With the help of the best billing software, you can send reminders to clients when payment is due. Also, you have the luxury of offering different payment options such as credit/debit cards, payments apps, etc. making it easier for clients to pay you. In addition, you can customize the invoice design for each client with the best software for billing and invoicing.
Many customers and businesses are using e-wallets and UPI-based payment systems. Because of this, your billing & invoicing software must support payment received through these gateways and give you the ability to make payments using the same. Extra marks if it lets you integrate multiple payment gateways.
|Billing And Invoicing Software Cost|
|Best Billing And Invoicing Software||Price||Ratings|
|Vyapar Billing Software||₹599 /Month||4.3|
|eR4u - easy retail for you||₹11800||4.5|
|My Billbook||₹799 /Year||4.9|
|Marg ERP 9+||₹8850 /Year||4.4|
|Zoho Invoice||₹2949 /Organization||4.6|
|Sleek Bill||₹2359 /User||4.4|
Q1 - What Are The Different Types Of Billing Software
Here we have list-down all types of billing software that caters to different customers based on their budget and business requirements.
Q2 - What’s the Purpose of GST Billing Software For Small Business
GST invoicing software helps in creating personalized invoices and filing GST returns for small businesses. The best invoicing and GST billing software help avoid penalties by claiming accurate input tax credits. GST billing software can help manage nearly all finances for a small business with multi-currency support.
With GST billing & invoicing software, you can stay in control of your cash flow in terms of accounts payables & receivables. A small business owner can send friendly payment reminders and run online payment reports with the help of billing software.
Q3 - How Does Online Invoicing Software Help Receive Timely Payment
The online invoicing software assists with careful financial monitoring and business management. It helps generate GST bills for services rendered and allows time tracking for any project.
Business owners can use online invoicing software to create invoices and follow up on the due bills. It doesn’t let you lose track and ensures timely payment through reminders. Setting up recurring payments saves a lot of time in monthly billing. Online invoicing software provides a detailed view of estimates, invoices, and pending payments.
Q4 - What are the Benefits Of Free Invoice Software For Online Invoicing
The fundamental benefit of online invoicing software is that it creates professional tax or excise invoices quickly. You can easily send the invoices through mail or take a print out of any invoice. With a free invoice software, you can create customised GST invoices quickly.
The best GST billing software allows you to access all the customer information at a single platform and gives you the facility of sending invoices anywhere anytime. Further, you can accept secure payments at a single click with minimum transaction charge from the customer.
Q5 - Lifetime free GST billing software Examples
Some of the examples of lifetime free GST billing software for online invoicing are:
Q6 - Why Should Startups Use Billing & Invoicing Software Over Excel?
Invoicing software have higher efficiency, easy auditing facility, a professional output, and produce accurate invoices when compared to excel. With billing and invoicing software, you get automated recurring tasks that save time and labour spent in manual data entry. Some billing software are also integrated with cloud that makes audit tracking much easier. Issuing receipts, managing taxes and accepting payments is possible with the billing & invoicing software when compared to excel.
Q7 - GST Billing Software Vs Accounting Software: What’s the Difference
GST billing software produces GST invoices for all the transactions securely, the accounting software, on the other hand, maintains the record of all transactions for a business. GST billing software is suitable for GST invoicing and allows employees and accountants to collaborate. It consists of features that make bookkeeping easier and quicker.
Accounting software, on the other hand involves several processes to monitor the complete financial situation of any business. From automating tasks and simplifying taxes to reducing data loss, an accounting software can manage everything.
Q8 - Online Invoicing templates vs GST invoice software: Which is Better for SMBs
Between the invoicing templates and GST invoice software, the latter is often preferred by small businesses for proper budgeting. The best invoice billing software provides many free invoice templates along with helping with other billing and invoicing functions. Also, you can customize online invoices with your brand logo and share directly with customers. Small or medium businesses can opt for cloud-based invoice billing software to cut costs on on-premise setups.
Q9 - Free Invoicing vs Paid Invoice Generator Software: Which Is More Suitable
As far as the suitability factor is concerned, free invoicing software gives you limited features for storing the data apart from generating quick invoices and managing workflows. Paid invoice generator software on the other hand, helps streamline the complete invoicing process and send automated payment reminder too. For more features and precise results, businesses can go for paid invoice generator software.
Q10 - What are the Common Challenges Faced While Using Billing & Invoicing Software
Billing and invoicing software are suitable for every kind of business, but they also have some shortcomings.