Top 5 Online Invoicing Software

Top 5 Online Invoicing Software

by Katherine Hymer

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia. In this week’s post, DRA Account Executive Katherine Hymer is giving you the top online invoicing software that you can use for your business.

From the momentum of our last article ‘7 Tips to Get Paid Faster’, one of our seven tips was to ‘Invoice as soon as possible’. We at Debt Recoveries Australia have compiled a list of the top 5 online invoicing software packages and listed their advantages and disadvantages. Here’s what we found:

Xero

A detailed and comprehensive program geared to international small businesses or freelancers.

Pros:
• Save time! You can import and categorize bank statements, credit card and PayPal information automatically.
• Supports more than 160 currencies in their Large Plan.
• Supports those users who are familiar with accounting and bookkeeping acronyms and phrases.
• Offers a mobile-friendly interface.
• The pricing is at competitive rates. And the different package options (free, small, medium, large) enable users to choose the package that best suits them.

Cons:
• Most of Xero’s bank feeds are in beta and have issues that could be time costly and annoying for clients.
• Clients have reported it takes a long time to figure out the cause of a problem and then to get it fixed.
• It’s essential to be familiar with accounting and bookkeeping acronyms and phrases, otherwise Xero may be overwhelming.

FreeAgent

This software has an outstanding reputation as an award-winning cloud-based software package.

Pros:
• It offers an extensive range of report-generating tools for business owners to choose from.
• It has an easy-to-navigate user interface with a large, central search bar.
• The well-organized tabbed information makes it easy to find what you need.
• Good pricing for its value and in comparison, to its competitors.

Cons:
• The extensive selection of tools and reporting options may overwhelm small business owners and freelancers who don’t already have a firm grasp of bookkeeping.
• The tax features are set solely for the United Kingdom. Customers who are not from the United Kingdom must complete their own tax filing and forecasting.

Freshbooks

A comprehensive bookkeeping and time tracking system.

Pros:

• Simple and easy to use layout.
• Available as a mobile app for iPhones.
• Supports payments in 50 currencies and accepts payments via PayPal, credit card and direct deposit.
• Offers collaboration and team management tools.
• It has fast and helpful customer support personnel who are easily available via phone or email.
• Users can track expenses, time and billing.
• Allows users to see when clients view and pay invoices.
• There is a free option if you have three or fewer clients.

Cons:
• Users report expense category problems, such as items being slotted into incorrect categories.
• The second-tier package is more expensive compared to other invoicing software competitors.
• It is difficult to find the monthly costs of packages without actually signing up.

Invoicera

Well-suited to businesses with global services and customers.

Pros:
• If one of the packages doesn’t meet your business’s needs, paid add-on services provide further flexibility to customize the online bookkeeping package.
• A continuous free option is available for users with few clients and limited needs.
• Users can choose a cloud-based invoicing platform or the self-hosting option.
• Can generate many invoices monthly and require extensive customization of invoicing due to government or country-specific compliance requirements.
• Currently supporting more than 120 different currencies, 11 languages and 21 payment gateways.
• Additional time tracking features are available.

Cons:
• The poor grammar, incorrect use of words and weak sentence structure on the website make the product appear unprofessional.
• Their online chat appears to be continuously offline during business hours in the western hemisphere making it difficult to seek help.
• It is difficult to find a help button on the website for when the help online chat service is offline.

Kashoo

Currently used in more than 56 countries, Kashoo allows multi-currency invoicing and immediately shows you the exchange rate impact.

Pros:
• Offers bank reconciliation and claims to support all banks.
• Supports over 100 currencies.
• Includes a check printing option.
• Can be integrated with Freshbooks.

Cons:
• Users who do not have a basic understanding of bookkeeping terminology and inputting financial information may find this software to be overwhelming.
• There have been a number of customer report problems with print alignment on the check printing option.

 

So there you have it. Whichever you choose, don’t forget to also set up a good debt collection follow up process as well and if you still need help, you know who to call!

Debt Recoveries Australia is the expert at recovering your outstanding debts without the drama. We are also providing free templates for you to use on your debt collection. For more details, email us at email@debtrecoveries.com.au or call 1300 799 511. Tell us your concerns on Skype at “debtrecoveries”.

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