As a small business owner you are always looking for ways to save time and money. An automated invoicing system can save hours of repetitive typing, and therefore cost, but a few key aspects are important for the system to be most useful.
First, it is essential that whatever system you use integrates seamlessly with your full bookkeeping software. There is little value in saving time on one hand, but then re-keying the same details later. The ease with which the invoicing data downloads into bookkeeping software such as QuickBooks is a good measure of its usefulness.
It is equally important that the system charges and tracks the appropriate taxes for all geographical areas in which you will be making sales. Customers paying a value-added tax, such as GST /HST in Canada, will require tax information included on their invoices.
Another consideration is the ease with which you can make changes once the automated or recurring invoicing has been put in place. The true nature of business includes change orders, skipped months, cancellations and refunds, and all of this must to be manageable with minimal additional time.
Working in connection with a customer payment system such as PayPal is another great time-saver. Your customers will want to see their payment history with you and will need to be able to download or print their invoices at a click. Keep your customers in mind and ensure the system is simple for them as well.
A good automated invoicing system is efficient, clearly tracks revenue, taxes and payments, provides the data your customers need, and flows into your full bookkeeping system with ease.