How do you manage all your invoices?

[Anonymous]

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I was wondering how you folks kept track of invoices sent as well as payments received. I’ve found it easy to forget about certain invoice payments I’m owed when I’m not tracking it diligently with a spreadsheet.

[Paul – FS Concierge]

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Hi And Welcome to Flying Solo It is great to have you!

Thank you for joining our community and posting.

I have used Xero for years – never miss an invoice.

Cheers
~Paul

[Tom Valcanis]

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Welcome!

I use Rounded – it’s designed for soloists and it’s easy to use (I say that as a total mathsphobe!) You can even link it to your bank account so you don’t miss a thing.

All the features you need, none that you don’t. Simple!

I sell words because my words sell. Copywriter at I Sell Words - 0417120749

[LindsayHunt]

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If you’ve got a reasonable turnover, seriously consider a software package like Xero. Accounting software allows feeds from your bank, you can automate a lot of the functions, acts as a customer database, makes it easy to track and even budget, and saves a lot of time. Depends on your scale and if you are growing or not. If you’re struggling with the management of things on a regular basis, then it’s probably time to take the leap. If you have a good accountant or bookkeeper, they should be able to help teach you the basics and set up the accounts, GST, etc.

[joekool]

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There are a lot of good software options but I guess it depends on your turnover and where you are in your journey and what you sell and if you have POS software. As I only provide a service my invoices are mostly the same and only the amount changes. As I don’t have much cash flow at the moment, I didn’t want another outgoing so opted for a free invoice generator (invoice-generator.com). Its a pain but free, and makes nice invoices. When I make more money, I’ll switch to something more suitable. I know everyone goes for accounting software but I like the look of Freshbooks but cant comment as I haven’t taken up a subscription.

[griz_mz]

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Using Xero’s dashboard, you always have a clear view of invoices owed to you, overdue invoices and cash flow. You can set up custom reminders for 3 days, 7 days, 14 days or whenever you like. Mine get firmer with the aging.Xero Dashboard
We also put all clients on direct debit using GoCardless so our aged receivables are very low.

[BizHelper]

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Xero allows you to email a picture of your invoice to your Xero software which creates an entry for the invoice you have emailed. The entry will await your approval in your Xero account you email it.

[storewall]

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I just transitioned from a spreadsheet to Xero. I actually still use both at least until this FY ends. Xero is great and there are lots of instructions in the system but as an online business with a separate shopping cart to process sales, everything is very manual going into Xero. In fact every system I tested was very much the same. Xero automatically tracks your bank balance and each of the transactions going into/out of it and then you need to match these with expenses and sales (invoices).

In my case I run a manual file upload once a week covering my sales/invoices. I make some minor adjustments to cover bank fees (Paypal and Eway) and then match them with what has come through to my bank account.

I also use Xero for stock valuation. It keeps a full record of every unit sold and its value. I am hoping it will make my tax management easier for both GST and end of year.

[DNova]

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I use Square as a payment processor. I can accept payments on-the-go using my mobile and a “Contactless Card Reader” that easily fits in my pocket.

I can create new customers, items and invoices using the mobile app.
PDF invoices and reminders are sent automatically, and I receive notifications of these events and payments received. Customers can also save their “Card on File” for automatic direct debiting each month. If their direct debit payment fails, a payment request is automatically sent to them.

The only downside is that when Square deposits the funds into my account (after taking their cut), there’s no reference of who made the payment – it only says Square AU Pty Ltd. So after importing my bank statements into my accounting software (Cashbook Complete), I have to manually enter the customer’s details if I want to know who made the payment.

It’s not an ideal solution but at this stage it saves me loads of time with invoicing.

[flyalone]

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I know it’s an old thread, but as the answer is closely related to the thread I am posting my reply here.

I use PerfexCRM for all our invoices and expenses.

The things I like about it are:
1. Opensource
2. Affordability
3. Self hosted so I own the data even if I switched to another system later.

[WilderWyatt]

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A great way to keep track of invoices and payments is to use an accounting software or spreadsheet. With a software like QuickBooks or Xero, you can create invoices and easily track payments received. Additionally, using a spreadsheet like Excel or Google Sheets can help you log invoices sent as well as payments received in order to keep better organized.

https://nicheonlinetraffic.com/

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