You’ve probably heard of invoicing software before. We tell you the greatest good because they save a lot of time for their users.
But they can sometimes be a headache if they are poorly chosen and do not meet the needs of the company and this is what we want to teach you in business management training . With the participation of the administrative and financial director of Live Mentor Mehdi Saoud , but also of Bénédicte Ciotti, CFO on a part-time basis.
What is it about ? Invoicing software is a computer tool that facilitates and automates administrative management , management of invoices , quotes and sometimes credit notes and down payments for the company.
In particular, the user can edit and send their documents directly to their partners.
There are a multitude of tools, whether free or paid, with various more or less advanced features. This article therefore aims to show you how to choose invoicing software that suits your business and its needs.
Given the multitude of invoicing software available on the market, certain criteria must absolutely be taken into account. In fact, invoicing software should help you do most or all of your invoicing-related tasks while meeting the characteristics of your business and your market.
a) The essential features of invoicing software
To properly select your invoicing tool, you must check that they integrate the basic functionalities listed below:
Edition and issuance of invoices (both unpaid and paid invoices), quotes, credit notes, deposits in compliance with the regulations in force in your country
Addition, modification and customization of standard models of invoicing documents
Storage of billing documents
Automatic numbering of edited documents
Basic customer management
Consideration of your company’s VAT
Automation of certain administrative procedures such as VAT declaration or declaration to URSSAF
Monitoring of payments (some tools allow a direct connection with your bank)
Of course, more efficient and often more complex software provides other functionalities such as electronic signature, online payment, advanced customer management or a private space for each customer, etc.
b) The accounting status of your company
It is important to consider the accounting profile of your company since your needs are not the same if you manage the accounting internally, if you have an accounting firm or if it is the accounting of a association or an LLC.
If your accounting is managed externally, you can be content with an invoicing tool that only offers classic features. On the other hand, it may be interesting to choose a solution that allows access to your accounting firm.
If, on the other hand, you manage all of your accounting internally, it is wiser to take a powerful tool that could be called an all-in-one tool that includes both invoicing and accounting functionalities.
You will gain in efficiency significantly.
c) The size of your business
The size of your business is also a key factor in your choice. Indeed, you do not have the same needs in terms of invoicing if you are at the beginning of the creation of your company or if you are in full expansion.
For small businesses, software with basic invoicing and accounting features will suffice. It can also be interesting to have a tool that allows you to manage your stock if you have one. You should be able to choose free or inexpensive software with the qualities necessary for good billing management.
For medium and large-sized companies, your tool must include more advanced features that take into account accounting, commercial management tools, employee payroll, etc. Generally, these are ERP tools.
d) Ease of use
Billing is a complex area that few people master properly. It is therefore important that the tool be intuitive and ergonomic in order, on the one hand, to avoid errors and, on the other hand, to gain in efficiency quickly. It is therefore recommended to test the software beforehand and this is all the more the case if you are committing to it for a long period.
e) Configuration possibilities of the invoicing software
You should know that the more your invoicing software is configurable, the more it will meet your needs.
For example, the creation of a personalized home page is particularly useful for the private spaces of your customers. Also having the ability to import customer, product, supplier, inventory records from file formats e