Keeping the track of your business finances is considered to be one of the most critical aspects of ideally managing a business, and there is no doubt about it that invoicing tops the list. Producing timely, and professional invoices for your prospective and existing customers and clients will ensure that you create and maintain a positive goodwill and impression, and it will also enable you to keep a firm hold on the financial status of the business finances.

Are you a Small Business Owner or a solo freelancer?

A freelancer has different needs. Some of them require a robust tracking expense or some might be looking for an integrated real time tracking as well as the ability to estimate the new projects.

Before choosing the final product, make sure that you have made a list of what all you need from your invoicing app to do. A common question that is asked is that what software is recommended for invoicing the clients? There are innumerable offerings.

What do you expect your invoice app to do? Is there a specific invoicing or billing software which is recommended?

Certainly, Moon invoice app is the top invoice management software which is used to send invoices, estimates, expenses and track time, accepts online payment and manage Cash Flow.
With Moon invoice, small business billing and invoices can be sent to unlimited number of clients and online billing made easy. Advantages for the freelancers–

Invoicing can become one of the most mundane and laborious tasks for a freelancer to do. If done manually, it will certainly take a lot of time to create the invoice, alter the contents, communicate the same to the clients and finally remind the customers to pay up their dues. Luckily, Moon invoice is an estimates management tool which helps you in creating the invoices quickly and easily.
You can even customize these invoices by creating multi lingual or multi currency invoices in just a few clicks.
The moon invoice app also has a built in time tracking function and this functionality makes it an amazing software for hourly based billings.

Undoubtedly, Moon invoice pro app is great for the advanced freelancers who are looking forward to use a versatile and dynamic invoicing tool which is also compatible with the other business management solutions.
It is also a great solution for the freelancers who want to offer a customized invoicing experience to their respective clients.

Recurring Payments Vs Recurring Invoices

Recurring Payments	Recurring Invoices
Recurring payments charge the customer’s credit card account or debit card account on a predetermined schedule for the same amount as preapproved.	Send an invoice to your customer on a regular basis. The client receives the invoice but, money is not paid unless the customer approves.
A business that takes prepayment of money and sells a monthly subscription service and product. Subscription services are excellent examples of this.	A company that provides fixed services with billable hours is an excellent choice for recurring billing. For example law firms and consulting agencies.

Pros and Cons of Recurring Invoices

Pros	Cons
You eliminate the possibility of human error by automating the billing process. If you use a recurring invoice, you will not be concerned about forgetting to charge your customers for the things they ordered.	You must exercise caution while recurring billing to prevent issuing inaccurate pricing. This also holds for price changes that could take place right once an invoice is created.
If you provide your customers with the option for recurring billing, they are more likely to buy products regularly.	It could be difficult to cope with recurring invoices if a transaction fails for any reason.

Net 45	Invoice is due in full within 45 days with no early payment discount offered
2/10 net 45 terms	2% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/15 net 45 terms	1% discount if you pay within 15 days; otherwise full payment of the invoice is due in 45 days
1/10 net 45 terms	1% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/7 net 45 terms	1% discount if you pay within 7 days; otherwise full payment of the invoice is due in 45 days

Category	Net Method vs. Gross Method	Explanation
Calculation Approach	- Applies tax credits first; reduces taxable income before computing tax liability.	- Doesn't apply tax credits; computes taxable income without considering tax credits.
Tax Credit Eligibility	- Allows for greater likelihood of tax credit eligibility due to reduced taxable income.	- Limits tax credit eligibility because taxable income hasn't been reduced yet.
Itemized Deduction Requirement	- Lowers threshold requirement for itemizing deductions due to decreased taxable income.	- Raises threshold requirement for itemizing deductions due to higher taxable income.
Advantages	- Leads to lower taxable income and increases chances of meeting qualifications for other tax benefits.	- Results in higher taxable income compared to net method.
Disadvantages	- May miss opportunity to reduce tax burden if taxpayer doesn't itemize deductions or take advantage of tax credits.	- Increases taxable income and may result in higher overall tax bill.