Knowing that you have to spend lots of time putting together not only invoices but also have to manage to address, keeping track of records and mailing them does takes away your business time and productivity. But what if, you could complete all these in just a few clicks and fewer minutes? Online invoicing presents immense benefits to these small and medium businesses and definitely has made a life lot easier.

Let’s discuss one by one the benefits of using online invoicing for your business.

1) Quicker Payments

It is an obvious reason that for your business to run smoothly, you have to maintain a healthy cash flow by receiving payments on time. Moreover, a cloud-based invoicing software allows to you create an invoice without having to re-enter information again and again. This would be more helpful if the invoicing needs of your business are running into hundreds per month.

2) Payment Reminders

There is something always up for any business regarding products or services such as either the product has not been shipped yet or the services not delivered. Similar is the situation with the clients as well, as they receive an invoice but forget to pay and hence, it becomes quite necessary to take follow up and keep updated about the payment.

In such scenario, automated payment reminders from these online invoicing software for whether unpaid or overdue invoices acts as a boon.

3) Quick Access

There could be an instance when you have sent the work for approval but because of the unavailability of your client, they might approve it later and ask you to send an invoice. However, what if, you have left already to attend a conference and the paper invoice is back at the office?

Cloud-based invoicing from Moon Invoice presents amazing solution as you can send and receive invoices anywhere, anytime as long as your smartphone is connected to the internet.

4) Custom Invoices

Merely sending an invoice won’t do the job as you need to grab more opportunities to brand business. Your existing client can spread the word if your invoice is not like just any other invoicing software. To do that, your invoices should be easy to read and comprehend. You can make it look more informative and attractive by customizing it with Moon Invoice.

5) Backup & Encryption

While paper trails are tedious and non-secure, every business has to think about keeping their client contacts and information safe and secure. Online billing invoicing offers to backup data and protection against any harm by using advanced and robust SSL encryption.

In other words, if there is a break-in in your office or a fire incident, your client’s data and information will be safeguarded by Moon Invoice.

6) Fewer Errors & Reduce Costs

It is quite obvious that manually feeding details into invoices may lead up to errors with a busy business schedule. It could also happen while processing tasks such as paid or unpaid invoices or if the payment was made offline. Cloud-based invoicing allows you to automatically input information saving you administrative time and costs.

7) Reports

An invoicing platform that goes beyond the invoicing functions & features is what your business needs to outperform your competitors. At times, the basic reporting and template abilities aren’t going to push the growth in your business and hence, you need a smart & efficient invoicing system. For e.g, insights about market projections or product inventory, etc.

8) Settings & Features

Most of these online invoicing software either isn’t compatible to be streamlined according to the business needs or business owners fail to get maximum benefits out of it because of the confusing custom settings of the software.

Moon Invoice, lets you use custom 22 in-built PDFs, define individual item price, custom layout, expense management, time tracking, etc.

9) Environment-Friendly

One of the great advantages of online invoicing solutions is that they are eco-friendly and supports ‘Go-Green’ initiative. Since there aren’t any fixed phone line, ink, printer, and paper are involved, it occupies negligible space in your office. Cloud-based invoicing uses less paper, helps the environment and less costly, all at once.

10) We Are Hassle-Free

Moon Invoice mobile app is available for iOS, Mac OS X, Android and Windows. Download our free app today and leave all your invoicing worry with us. There is a 7-day free trial period for you to try before you buy!

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.