Freelancing lets you be the boss of your own time. It gives you the leverage of picking your own hour of the day to work as long as you submit your project on time. It also means that you have to manage your own cash flow and in order to so, you need to deal with numbers and be your own accountant for a while.

For those, who don’t like to crunch numbers every now and then, there are many online invoice software available. But let’s face it, not every feature that these online invoice service providers projects are needful at a particular time.

Thus, you need an end-to-end billing software that could look after beyond your bookkeeping and account management needs. The best online invoice generator should highlight the following feature and advantages especially that’ll make life easier of a freelancer. In short, as a small business owner or freelancer, you have to rely on a professional invoice maker to help you in optimizing the entire process for you, starting from creating professional looking invoices to report analysis to the summary page and more.

1) Getting More Organized

With all your invoices sorted based on paid, unpaid, outstanding and overdue, the online invoicing app does a pretty good job as compared to conventional invoicing methods involving lots of paper lying on your desk. Overall, getting organized help you enjoy and finish work more efficiently and projects good work ethics on freelancer’s part.

2) Accurate Data

The traditional invoicing methods required manual entries hence accounted for errors and mistakes. Data errors will reflect badly on your part and as a result, you’ll not be able to establish the credibility of a worthy freelancer when you either over charge or under charge your clients. With simplified tax and payment calculation, online invoicing apps ensure that you never make mistakes. Even all your client’s data gets automatically optimized to make sure that there aren’t any mistakes in name, address field, etc.

3) Customize Invoices

The paper-based invoices cannot be customized as they are already printed with a pre-set format and ultimately you have to cross it out which will make it look unprofessional. This is another reason to consider to opt for an online invoice app as you can easily customize invoices the way you want it. Moreover, some invoicing app also provides built-in customizable PDF templates with editable titles and caption.

4) Global Access

Paper-based invoicing limits your usage of invoicing as it can be accessed from office only and also not feasible to carry all client’s data with you. As a freelancer, it is utmost necessary that the invoice generator you choose provides you with easy access to data and invoices from anywhere, anytime even while you are on the go. It would be cherry on top of the cake if the said invoicing and billing software also lets you access your invoices and data from multiple devices and across different platforms.

5) Faster Payments

The basic purpose of an invoice is to get paid and as early as possible. The faster you send invoices the faster you’ll receive payments. Online invoice maker has accelerated the payment by offering multiple payment options and methods for the client’s convenient. Moreover, it has become lucrative by also offering to send invoices in multiple billing currencies. So no more delay in payments for freelancers or small business owners.

6) Invoice & Payment Auto-Reminder

As a freelancer, it is the goal to avoid chasing to late professional invoices for payments from clients or check whether the invoices are cleared or not. This will take up a substantial amount of your productive time which could have been used to finish other tasks. Thus, opt for an invoicing solution that helps you set up an automatic reminder for overdue payments as well as organizing recurring invoices to go out on time to the respective clients.

7) Track Time & Expense

Payment and Expense reports features are must from any online invoice software. This will keep your cash flow intact which is quite necessary as a freelancer. Invoicing software should be able to track every billable minute and simultaneously also should make invoices for the same to ensure the payment of the work done. The goal is to track time and expense is to quickly get the insight about the tasks, time and expense with the simple breakdown of hours leaving you with lots of time to be more efficient.

Conclusion:

Moon Invoice has come up with comprehensive online accounting & billing solution mobile app that connects freelancers, entrepreneurs, small & large businesses to their accountants, Bookkeepers, banks and other online business software. Over the years, Moon Invoice is successfully able to pave the way for our customers to directly connect with their customers and suppliers or vendors so as to carry all the invoicing related business operations seamlessly.

Following are few of the handy advantages of Moon Invoice:

Manage Invoices & Credit Notes effortlessly
Administer seamlessly Estimates & Purchase Order
Smart Filter option with 22 Professional PDF templates
Save time with auto invoicing numbering and avoid any critical financial data entry error with iCloud Sync feature
Manage Separate Customers & Vendors list
Track expense and payments
Add unlimited companies
Smart Quarter and Summary view
Create custom invoices with the option to add 2 different signatures, name, title, and date
One touch Backup & restore option with TouchID Protection
Customize PDF layouts, alignments, image, color and format

May it be iOS or MacOS or Android or Windows, Moon Invoice works brilliantly and smoothly on any platform maintaining the uniformity while simultaneously also staying productive for you to access anytime-anywhere even while you are on the go.

If you would like to know more about “Instant Payment Boost For Your Business”, then you can check our blog on the same here. Let Moon Invoice app take care of all your invoicing worries. Go for “Try Before You Buy” option to avail 7 days of FREE TRIAL!

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.