Day by day the competition is growing in the world of online business. It is important to find and implement effective ways to maintain customer satisfaction level. Irrespective of whether you are a freelancer, entrepreneur, SMB business segments – expanding customer base and customer retention remains the biggest two most focused area for any organization in 2018.

Even the same applies in the invoicing world, rather now as online invoicing and to be specific about an online invoice or accounting software out of which there are many online invoicing service providers who are offering free invoice generator for trial. In such a wake, a customer has many options to choose from, but then again it is not a fruitful exercise as these online invoice maker mostly helps upcoming or startup entrepreneurs and small & medium enterprises.

The features and functionalities that these small business billing app offers are amazing. Which one of these is most suitable or gets perfectly balanced with your accounting system, is rather a question to be given a thought to. However, most of them offer a handful of standard features which are sufficiently beneficial to any business and its operations. But then again, every business need are specific as they themselves are unique in its own way.

In such scenario, a professional online invoicing application with latest features can go a long way. Before we see those features, lets first understand the advantages of using online invoicing and billing software for your company. Of course, it goes without saying that only the best invoice app offers the most productivity and efficiency increase in an organization.

Advantages of a Cloud-based Invoice software:

1) Cost-effective

It eliminates your company’s paper, ink, envelops, stamps, postage, etc expenditures. Just a simple yet effective invoicing app is necessary to be done with sending invoices in no time.

2) Being efficient

Send professional invoices with multiple templates to choose from with quickly turning your estimates to invoices helps you being efficient with the task on hand. Moreover, you can track the accountability of all your tasks even while you are on the go.

3) Simple to use

With simple and easy to understand user-interface and intuitive design, the online invoicing software doesn’t require special training. One can easily get the hang of it and can start instantly producing invoices and billing efficiently.

4) Easy Access

Of course, with a cloud-based system, your company’s data is stored in the cloud. Merely with an internet connection, you can get hold of any financial data and generate invoices from any device no matter where you are present.

5) Data Security

Online billing software comes with assured data security. Your data is safe and secured in the cloud. Your data will not be affected in terms of a system crash or hang.

 

Moon Invoice, designed and developed to simplify the invoicing process for small, medium and large businesses. It has highly advanced feature-set, fully automated invoicing processing that helps companies to be more efficient & productive. Invoice processing via Moon Invoice is done with maximum accuracy and removes any such probable errors associated with manual entry as it supports recurring invoices and many such other features.

 

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.

Best Online Accounting Software for Small Businesses

The Accounting Software from Freshbooks empowers business owners like you to spend less time on bookkeeping and more time doing what you love.