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What to Look for in a Small Business Billing System

Did you start a small business? You’re not alone. Americans filed formal paperwork to start 4.3 million businesses this year.

In 2021’s third quarter, an unprecedented number of people started small businesses. The pandemic inspired a desire for greater work-life balance and an alternative to layoffs.

American entrepreneurs surpassed the previous quarter-three record for most launches—by 67 percent. Yet, launching is just the first step. The next step is getting the right tools.

One tool every small business owner needs? A billing platform. Read on to explore the top ten features to look for when choosing billing software.

  1. Versatile Multi-Platform Integration

Your billing system needs to work well with other digital business tools. Before choosing invoicing software, check to make sure it will integrate seamlessly with:

  • Various payment gateways
  • Accounting software
  • Email
  • CRM programs

The more integrations it’s capable of, the freer you are. Choose the best software for your business, already knowing it’s compatible.

  1. Billing Platform With Client Payment Options

Can your clients instantly pay your invoice upon receipt? If so, you’ll save time you might otherwise spend chasing them down. The best types of billing systems let clients:

  • Pay with one click
  • Pay in multiple currencies
  • Pay with cryptocurrencies

These platforms also make it easy on your end. You can enable direct deposit, so client payments go directly to the business account.

  1. Accurate Estimate Calculator

Many invoicing software options have quote generators. Choose one that enables precise input. That way, your estimated cost will be as accurate as possible.

  1. Unlimited Invoice and Quote Generation

Don’t pay more for doing better. Unlimited invoices and quotes mean you can scale more readily. Only go for platforms with a finite number of invoices if you’re really just starting out.

  1. Comprehensive Invoice Template Library

Find software that includes a rich invoice template library. Or, choose a billing system compatible with an online invoice maker. The best invoice templates are easy to edit and customize for your brand.

Some invoice makers enable completely DIY options. That way, you can design an invoice from scratch using your own images.

  1. Expense Logging Features

Ideally, your invoice platform makes it easy to log expenses. Look for automated expense logging features.

Invoice software with an intuitive interface will enable easy-to-use options. One-click settings for frequent expenses—like milage—save you the time you need.

  1. Time Tracking Options

Invoicing software can make it easy to track time spent. Look for platforms that enable hourly time tracking. Bonus: options to track either by each employee or by the task will streamline hourly billing.

  1. Readily Add Taxes, Discounts, and Shipping Fees

To save time, find small business billing software with one-click add options for line items. Easily add taxes, discounts, and shipping to invoices.

Automated processes can even calculate the client’s total after subtracting a percentage-off discount. That’s less math for you!

  1. Password-Protected Client Portal

Higher-end software gives your clients a premium experience. A password-protected client portal lets your customers see estimates, work and payment history, and receipts. It’s a one-stop shop for all payment communication.

  1. Price

Invoicing software pricing varies. The lowest-cost options are free! But, those tend to be bare bones.

Other invoicing platforms have price tiers. Moderately-priced platforms run $10-25/month, for 250+ clients. Premium invoicing platforms can run $149/month.

There are competent platforms that cost a flat $12/month, no matter how well things go.

Discover Small Business Tips and More

With tip sheets like this, choosing a billing platform is easy. What features do you most recommend?

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