With plenty of billing or invoice software easily available, often it becomes confusing to select the most appropriate one suitable for the business. Several products are readily available, with each having its own capabilities, features and costs. Therefore, evaluating each and every product can be time consuming and a tedious job. Going through the tips will help to find the right invoice software that will perfectly suit the organization needs.
Tips to consider for selecting the best online or offline invoice software
- Cost: It is the budget that definitely determines the purchase of a software. But quality, functionality and meeting the needs of the business should not be compromised upon. There are also available free products in the market, but may not meet the particular requirements.
- Documents: There may be various types of documents that will be required in the business besides invoices. For instance, preparation of estimates or quotes. Converting the invoice or quote can be a real time saving feature. If it is a trading company, then business documents like packing list and vendor purchase orders, delivery orders, credit notes will be required. But these documents are to be customizable to meet preferences and needs. Also, it should be possible to add logo or to customize the color and look of the invoice.
- Sales tax: If billing and collection of few forms of VAT, GST, Sales Tax, is required, then the product should be able to handle it and meet the local tax authority requirements. The invoice layout is to comply with the local tax authority requirements. Upon submission of summary values in the return, the invoice software is to provide with proper detailed or breakdown report.
- Data: The software also is to allow entering of crucial information necessary for the business. The different essential fields like vendors, customers, documents, invoices and contacts are to be catered properly. If it is a trading company, then inventory module is required. Data should be imported from external source for saving precious time, otherwise lost when keying manually the list. Moreover, the inventory, vendors and customers should be exported to open file format as the need arises. In case, the business deals in services, then the product is to cater sufficient space to describe the services in the invoice body or quote.
- Search features: With increase and accumulation of data, good search features will be required to help locate inventory records, customers, invoices, etc. This features can be found in any good professional invoice software.
- Reports: Relevant reports like customer statements, debtors, sales, etc. should be easily obtained. The reports are to be presented properly and meaningful. Many products offer customized solutions.
- Multi user compatible: In case, there are other staffs or users assisting then the product is to allow multiple users for updating and accessing data concurrently. Some parts of data or program can be restricted access.
The above are few of the aspects that need to be checked into thoroughly to determine getting the best software product for the business.