Getting paid for the work you do or the products you sell is the over-riding objective of every business, but when it comes to invoicing, some business owners have a tendency to leave it to the last minute.
In today’s tough economic climate, there is no getting away from the fact that a healthy cashflow is one of the finest characteristics a sound business can have. One of the key elements of keeping your cashflow flowing is getting your invoices issued accurately and on time and then making sure they are paid within your agreed timescales.
All of that said, invoicing is often one of the last things to be automated in businesses that are already reasonably high-tech. Not only does this no longer need to be the case, in fact it can be business suicide if you’re having cashflow issues. So what might you do to streamline your invoicing process?
The simplest answer to that is to switch to online invoicing within an online bookkeeping service discover this info here. Online invoicing is a way of both you and your customers or clients having simultaneous, live access to invoices for the work you’ve done together or the goods you’ve sold. The Xero online invoicing system is a state of the art way to give real power to your invoicing elbow. To create an online invoice, you work within the Xero system to create the invoice, send the invoice to your client by email, enabling your client click on the link to see a live and up to date version of their invoice online.
Once your client has clicked the link, they’re immediately directed to the invoice you’ve created so they have their finger firmly on the pulse of what they’re due to pay and when. What’s more, to further streamline the process, the Xero system enables your clients to pay immediately online, giving you even more chance for a really speedy and efficient invoicing system. The Xero system is also set up to accept payments from Paypal, DPS Payment Express, GoCardless, Stripe and, soon, eWay. As you can imagine, this makes the whole invoicing, payment and reconciliation process as simple as A,B,C.
In addition to having access to current invoices, your clients or customers will be able to look at previous invoices and will be able to see precisely the state of play between you. Using a Xero login system (which is free) you can also obtain a clear and constantly updated picture of which of your invoice recipients has opened their invoice as well as providing you with a record of when they’ve been viewed. This login facility also enables you to get a “read” notice of confirmation that your client or customer has received your invoice, which is particularly helpful in negotiations where a non-payer claims they haven’t received the invoice.
Add to all of this the real and tangible advantage that this way of working eliminates altogether the need for rekeying, as well as the fact that the invoice recipient can import the invoice directly into their system, and you really start to see the advantages of this way of working.
If you’d like to see online invoicing in action, why not get in touch? We’ll gladly set up a no obligation demonstration for you so you can see first hand the value that this way of working will bring your business.