While the business world has relied on the traditional approach for invoicing, the online invoice is the new phenomenon that is making invoicing more efficient. There have been many debates challenging the efficacy of invoicing software and how it is better than the traditional approach. Gladly, there are enough reasons to support the efficiency and accuracy of paperless invoicing. In this post, we have shared 5 good reasons why you must make a switch from traditional invoicing practices to paperless invoicing.
Invoice management, irrespective of its boring nature, is a critical task that a business must attend on a day to day basis. Right invoice management is vital for successful cash flow management and hence it is imperative to know what different kinds of invoices are used in businesses. Proforma Invoice is a significant part of the invoicing process and also an aspect with a lot of ambiguity around. What is a proforma invoice and when should one use it is a most commonly asked question.
Accounting software proves beneficial for all types and sizes of businesses in several ways. Whether you have a small business or a skilled accountant taking care of your accounting needs, getting bookkeeping software can help you maximize the credibility of your accounts. From cash flow interpretation to managing expenses and profits, advanced bookkeeping software brings accuracy to every aspect of your accounting processes.
Every year, many businesses have to deal with a common problem, i.e. late invoice payment. It is observed that over 60 percent of all the invoices raised by a business are paid late. Moreover, the statistics suggest that on average business invoices are paid six days late and more than one-fifth of the invoices are paid late by more than 2 weeks.