Implementing an effective invoice process
Invoicing is an integral part of the financial system of a business. A well-organised invoicing system can add significant value to maintaining a healthy business cash flow.
When running a small business, the majority of your business’s production is processed via invoices and for this reason, an accurate and streamlined invoice process ought to be followed.
Implementing a smart and efficient invoice processing system can decrease the time it takes to produce and handle outgoing invoices considerably. This way you will be able to keep track of all business expenses and client accounts in order to manage your cash flow precisely.
For many small businesses, it can be challenging to establish an operational accounting system while the business is still in its growing phase. Using an accounting software program such as QuickBooks to efficiently manage this for you can add value to your business.
QuickBooks provides businesses with a comprehensive range of accounting software packages that are designed to meet the needs of a growing business. Continue reading to learn how you can enhance the invoice process for your business with QuickBooks, or browse our accounting software selection to find a package that suits your business.
Five smart practices for an effective invoice process
- Invoice immediately – Always try to generate and send invoices on the same day that the product is sold or service is performed. Promptly providing invoices can speed up the time it takes for payment to be received. With QuickBooks accounting software packages, the invoice process is automated, which means that your time spent on financial administration duties is significantly decreased.
- Lay out clear payment agreements – When entering into a financial transaction agreement, always ensure that your client is aware of all costs and payment terms. Define the amount that will be paid as deposit as well as the monthly instalments if applicable. Thus, clients know what to expect in terms of payment and won’t be disappointed when their invoices arrive.
- Prepare informative invoices – QuickBooks accounting invoices software packages enable businesses to tailor their invoices to suit their individual needs. Thus, you’re able to prepare professional invoices that contain your business name and logo, address and contact details should the client have any queries regarding an invoice. Ensure that your invoices state a general retention such as “All goods are the property of the business until paid for in full.”
- Build a document trail – With QuickBooks accounting software you can keep track of all invoices that have been generated and sent to relevant parties; so you will never miss an outstanding invoice. This document trail helps to streamline the invoice process for your business.
- Make collection calls – It is considered a general rule to follow-up on invoices if payment has not been made on time. Use QuickBooks accounting software to manage your payment deadlines so you can keep track of outstanding invoices and make collection calls.
QuickBooks accounting software simplifies the invoice process for businesses
Managing a small business can be challenging, especially managing its financial division. The key to maintaining an effective invoice process system is to use a software system that caters to your business’s exact needs. QuickBooks accounting software packages are designed with advanced features that are aimed at simplifying your business’s financial procedures. Browse our range of packages that includes QuickBooks SimpleStart, QuickBooks Pro and QuickBooks Premier to find one that suits your business needs.
QuickBooks SimpleStart - for new and home based business
The simplest way to manage and track money going in and out of your business.
QuickBooks Pro - manage your business accounts simply and easily
Manage your business accounts simply and easily.
QuickBooks Premier - fast and easy advanced accounting
Fast and easy advanced accounting.
Quick Payroll is designed to meet the fast growing needs of dynamic South African SMEs.
It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
Quick Payroll Lite is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Lite interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Lite is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
Quick Payroll Startup is designed to meet the fast growing needs of dynamic South African SMEs. It simply manages all aspects regarding payroll, including payroll calculations, leave registers, report writing, tax year-end, and more. Quick Payroll Startup interfaces seamlessly with QuickBooks accounting software, which means your general ledger journals will automatically update.
Our solution automatically provides new tax law or statutory upgrades as they arise, keeping you on the payroll cutting edge. What is more, our Quick Payroll Startup is so flexible; it can be used in any industry sector, injecting value into your company, employee and client relations across the board.
