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What is Cloud Invoicing
Everything is going digital and E-commerce is rapidly dominating the retail industry as it uses technology to reach wider customers. More customers are willing to buy, making online billing necessary. This can only be possible with invoicing software solutions. Cloud invoicing software solutions stand out among online invoicing software solutions as they help businesses in decentralizing data warehousing, and you wouldn’t bother about data security. Also, cloud invoicing is flexible and cost-effective.
Cloud Invoicing makes businesses get paid faster and has their order fulfillment fully automatic.
Although there are many cloud invoicing apps that may look
more similar than different, choosing one is not an easy task. There are several
factors to consider before choosing the most-fitting app for your business.
Some of these software solutions are broad invoicing solutions that
fit a general business model, while others are tailored to fit specific industries
or vertical SaaS, one of the trends driving the SaaS landscape today.
So if, for example, you’re into a subscription model, not a few apps cater to
this specific billing model.
Some of the factors to consider that would influence your choice
are: Do you prefer user-friendliness to complex
functions or a free plan over a premium plan? Do you like a standalone or a
suite?
In all, what you would want is end-to-end accounting
software with an invoicing feature built into it, so you can be able to track
every money coming in and going out, and steady your cash flow.
The size of your business is also a factor to consider. A
big enterprise would need a suite invoicing software, while a standalone app
would be ideal for small businesses starting up.
Here we have compiled and reviewed the top 20 cloud invoicing
software solutions good for your business.
Top 20 Cloud Invoicing Software
FreshBooks
Zoho Books
Zoho Invoice
Sage 50Cloud
NetSuite ERP
QuickBooks Online
Sage Business Cloud Accounting
Salesforce CPQ
Melio
FreeAgent
Sage Intacct
Xero
Invoiced
BigTime
HoneyBook
Harvest
Sage 50Cloud
The invoicing tool in Sage 50cloud falls under its
accounting solution, which also includes inventory management, job costing, and
payroll. The invoicing tool is built into even the most basic plan (~$340 per
year), so you’d want to factor in your need for the other features if you want
to maximize the app’s potential.
Sage 50 is known for its on-premise small business
accounting. The “50cloud” edition brings the same features to the web to
provide mobile access and flexibility to users.
The app lets you generate invoices and get paid fast by
embedding pay buttons via Stripe and Paypal right inside your invoice. You also
get a clear view of payments, as you feed the invoice into the accounting
system.
Pre-built into the Sage 50 accounting system, it gives you
an end-to-end solution, from receivables to accounting.
Integration with Stripe and Paypal lets you embed a pay
button inside the invoice.
Transparent transaction fees care of Stripe and Paypal.
Salesforce CPQ
Salesforce CPQ is actually the vendor’s app that helps sales
teams configure and send price quotes. To send invoices, it has to be
integrated with an add-on package, Salesforce Billing. The billing module pulls
order details from CPQ, hence the latter is a must-have to enjoy the invoicing
features of Salesforce.
With the setup out of the way, let’s take a closer look at
Salesforce CPQ features. It can automate payments, capture the transactions for
your books and map these data into an ERP record. This setup makes perfect
sense when you are using Salesforce CRM, which includes features for your
sales, marketing, ecommerce, and analytics.
For instance, you can closely tie order management (CPQ) to
invoicing (Billing) and balance both records with greater accuracy and generate
the details in a revenue recognition report. Leads from Salesforce CRM records
can also be tracked with more visibility by matching them with the Billing’s
transactional data.
Despite its robust features, Salesforce is ideal for small
businesses. Its pricing starts from $25 for a small business package.
As part of the Salesforce system, Billing ensures tight
consolidation of your data in CRM, order management, and invoicing.
It carries the brand weight of Salesforce, which is known
for reliability and industry-leading innovations.
It is offered at flexible pricing based on specific
solutions such as sales, service, and marketing.
Melio
Melio simplifies accounts payables and accounts receivables
for small businesses. Entrepreneurs will find the app useful to speed up their
payments or collections, relieve them of cumbersome invoice work and manage
their cash flow.
AR features include branded invoicing, automatic
reconciliations, online payments, and multiple-device access to help you track
invoices.
On the other hand, the app allows for free bank transfers
when paying invoices. Likewise, accounts payables get you to earn
rewards for credit card payments (Melio accepts credit card transactions even
if your vendor doesn’t).
Small businesses can also pay anyone, such as vendors and
contractors, without requiring the recipient to open a Melio account.
Furthermore, you can pay multiple bills at once instead of going over each
invoice—a cumbersome process.
You can also split bills via different payment methods, so
you get to stretch the cash flow. Or customize payment approval processes with
permissions and roles, so you get visibility over all transactions and,
generally, over your cash flow.
Other key Melio features include cross-border payments in
Canada, the United Kingdom, and Europe, as well as one-click utility payments
like phone and telecom bills through Melio’s vendor database that includes
Amex, AT&T, and First Progress.
QuickBooks users will be happy to know that Melio integrates
with the ubiquitous accounting solutions for a two-way sync. In this
way, all payments are recorded with transparency.
Melio pricing charges $0 for features, except for a
transaction fee for credit card payments and international transfers.
Simple, easy-to-use features that will help you streamline
payments and collections, helping your cash flow stay healthy..
Smooth integration with QuickBooks, a handy feature to help
you auto-reconcile AR and AP and manage all transactions with visibility and
transparency.
Zero cost on app features, save for transaction fees on credit cards and cross-border transactions.
FreeAgent
FreeAgent is another accounting software for small businesses
that helps you get paid faster, automate cumbersome billing tasks and,
generally, keep your cash flow steady.
One thing that stands out with FreeAgent is this: you get
unlimited users, clients, and projects at no extra charge. You only pay a
universal monthly fee of $10, which scales to $20 after six months. You also
get tax reporting in the plan.
You can choose to send professional-looking invoice
templates or customize them, and send them as a PDF through email. The app also
gives you an online payment option via PayPal, Stripe, and GoCardless.
FreeAgent integrates with market-leading apps, including
those for ecommerce, payment gateways, CRM, and compliance.
Unlimited users, clients and projects in one universal
pricing.
Extensive integrations, including tax, compliance and
forecasting.
Straightforward pricing, no hidden fees.
Xero
Xero is small business accounting software that includes
invoicing in all its plans. The features are straightforward. Generate invoices
from the Xero app or desktop or add new customers quickly to it. You can also
customize the invoice with your logo, layout choice and messages. Or add more
fields if need be.
For advance or late payments, you can set automatic email
reminders. The app also lets you adjust to different payment terms such as
credit/debit cards, direct debit and via Stripe. Customers can also click a
“Pay now” button embedded in your invoice.
One strength of Xero is that it integrates with several key
apps that you are likely using. These include Shopify, HubSpot, Mailchimp,
Microsoft Outlook and Google Contacts.
Xero pricing starts at $22 per month, which is enough for
small businesses and the self-employed.
The app’s extensive integration with popular business and
productivity apps, such as for ecommerece, emails, CRM and task management.
The embedded ‘Pay now’ button helps speed up payments.
Custom invoice fields allow you to add unique details to
your billing.
Invoiced
Invoiced is an automated accounts receivable software that
streamlines your AR process. It features dashboards and built-in reporting
plus, it adapts to subscription billing that lets you forecast predictable
revenue forecasting growth.
You also have at your fingertips mutli-channel reminders,
which allow you to text or even snail mail clients, on top of email reminders.
This way, you’ll have a sustained but paced strategy to remind clients without
being annoying.
Likewise, a self-service payment portal gives clients a
frictionless way to fulfill their payables. The portal accepts credit and debit
cards, ACH, PayPal, and more.
Other key features include task management, payment portal
messaging, and CRM.
Invoiced pricing is by quote. The package includes CRM,
dashboard, multichannel collection, and a branded portal.
A self-service payment portal allows multiple ways to pay;
it can be branded.
A built-in billing CRM helps you track payables, recurring
billing, and late payments.
Multi-channel reminders that include postal and text
messaging help you remind clients in different ways and avoid spamming one
channel.
BigTime
BigTime is a time, billing, and project management solution
for professional services and consulting firms. It has an intuitive invoicing
built into the software that is designed for projects but can be customized to
your processes.
Aside from invoices, you get time tracking, expense
tracking, project budgeting, business intelligence, and collaboration tools.
You can bill clients based on fixed or flexible fees. You
can also configure the invoice to display expense receipts, time entry notes,
tax rates, and other key details. A standard feature lets you white label the
invoice, too.
BigTime integrates with QuickBooks, Sage Intacct, and other
popular accounting and business apps to streamline your AR workflow.
Pricing is on a per-user basis. You need to contact the vendor
for the details.
A vertical solution aimed at professional services and
consulting firms.
Flexible billing allows you to charge fixed or customized
fees.
Integrated with time tracking, project budgeting, business
intelligence and other key features for professional services.
HoneyBook
HoneyBook is an app featuring business and productivity
tools for small businesses. These include free invoicing templates that you can
customize online or download as a PDF.
The free templates are enough to professionalize your
billing with quality invoices. You can also custom-brand them at no cost.
However, you should scale to paid plans if you want the full feature set of
HoneyBook.
Paid plans start at $9 per month, which lets you access all
its features. You get lead and project tracking to help you funnel clients down
to invoicing. You also get to combine invoices with contracts and payments,
which can help you speed up conversions.
Paid plans start at $9 per month, which lets you access all
its features. You get lead and project tracking to help you funnel clients down
to invoicing. You also get to combine invoices with contracts and payments,
which can help you speed up conversions.
The app accepts major credit and debit cards and charges a
fixed 3% fee for bank transfers.
Free invoice templates.
All-in-one business suite that includes lead & project
tracking, client communication, and documentation on top of billing &
invoicing.
Can combine invoices with contracts and receipts for a
seamless billing process.
Harvest
Harvest is a time-tracking app with invoicing, making it
ideal for time-based billing. Consultants, service providers, and contractors
working by the hour may find the app useful for transparent, fair invoicing.
With a simple three-step process, Harvest is one of the most
intuitive, simple invoicing app around for its intended users. You track your
time and expenses, pull the billable time and costs to create the invoice, and,
via Stripe or PayPal, get paid fast.
Its integration with QuickBooks Online and Xero also means
you get to update your books and account for all invoices.
There’s also a free plan for one seat and two projects.
Pricing starts at $12 per seat per month for unlimited seats and projects.
Ideal for time-based billing.
A simple 1-2-3 process, from time tracking to online
payment.
Has a freemium for individual contractors.