Invoicing is essential for most businesses dealing with clients or other companies.
While it can be easy to put off invoicing opens in new window when you’re busy launching a business, this can result in delayed or missed payments.
A recent survey found that 37% of small business owners opens in new window were concerned about their business’s cash flow opens in new window, which means keeping on top of invoicing is essential.
As well as ensuring you get paid promptly, invoices are essential for calculating and paying taxes such as VAT opens in new window and corporation tax opens in new window.
The good news is that invoice apps and tools can help speed the process and make your invoicing more efficient.
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As part of our Learn with Start Up Loans opens in new window partnership with The Open University, our online course is free to join, delivered by experts and includes a free statement of participation on completion.
What to look for in an invoice app
There are various invoicing apps to choose from, ranging from basic free ones to more costly comprehensive solutions.
Many offer trial versions, so it can be a good idea to test several different apps to find one that best suits your needs.
Reading reviews or seeking recommendations from friends or others in your network can be helpful.
When choosing an invoicing app, consider features such as:
- Personalisation – Adding your company logo opens in new window, brand colours, and personal information can help invoices look more professional.
- Integration – Some apps can integrate with your existing accounting and inventory systems opens in new window to help save time and effort.
- Reminders – It can be helpful to send a personalised reminder to your client at set periods and close unpaid/paid invoices.
- Reporting – The ability to create automatic financial reports opens in new window can help you track outstanding invoices.
- Payments – Some invoicing apps offer different ways to pay a bill opens in new window, which may encourage customers to pay quickly.
- Receipts – Issuing receipts when an invoice is paid may be helpful for your customers, who can keep receipts as proof of purchase and use them for their financial reporting.
- Accessibility – Taking into account the needs of both those that use the system and those that receive the invoices can help your business be more inclusive opens in new window.
Invoice apps to try
This list indicates the type of invoice apps available and is provided for information purposes only.
Start Up Loans do not endorse these apps.
Other apps are available, and you should seek expert financial advice on the most suitable app for your business.
Quickbooks
Quickbooks opens in new window can connect to your online bank accounts to help reduce data entry errors and send invoices to your customers.
You can send and update invoices and automate them for efficiency.
It allows you to see all your paid and unpaid invoices in one place and can set up faster payments by card or using other platforms such as PayPal.
Quickbooks offers templates so you can create and customise the appearance of your invoices by adding your brand’s personal touch opens in new window.
Prices start from £2 a month with various plans to suit small businesses, freelancers, and contractors.
The app is suitable for all devices for ease of access.
Invoicely
Invoicely opens in new window is a web-based invoicing and accounting application suitable for any device with an internet connection.
It can manage multiple businesses in one place and generate reports and statements, allowing you to customise your invoices and automate your workflow.
It accepts online payments in any currency and can track time, expenses, and mileage.
A free plan includes limited monthly invoices, while more comprehensive plans start from $9.99 a month.
Kash Flow
Kash Flow opens in new window can help you manage your accounting tasks, from payments to filing your taxes opens in new window.
VAT opens in new window can be automatically updated and shared with your accountant opens in new window, and directly with HMRC for easy and controlled management.
You can also keep track of your performance with reports.
It can send automatic reminder notifications to customers and converts quotes into invoices with your company branding.
It features multiple payment providers, allowing your customers to choose their preferred method of payment, and can link to bank accounts for real-time matching of funds.
Prices are package-dependant and start from £9 a month with the ability to grow with your business, adding additional features and unlimited invoices.
FreshBooks
FreshBooks opens in new window can support a variety of small businesses, from start-ups to freelancers.
It produces automated invoices and a summary report, exporting financial transactions and categorising them.
You can run reports on profit and loss or create a cash flow statement opens in new window to see how your business is doing.
You can also track business mileage and view potential tax deductions opens in new window.
Basic plans start at £3.30 a month, and it offers a specialised plan to support growing businesses depending on their needs.
Tradify
Tradify opens in new window was explicitly designed for tradespeople opens in new window and small business owners.
It features personalised and automated invoices, integration with multiple accounting software, and can process online payments from customers.
It provides job tracking, so you can easily track quotes to invoices.
Prices start at £19 per user a month with no limits to invoices, jobs, or quotes.
Other invoice apps
- Zoho Invoice opens in new window – A fully-fledged accounting software that may be suitable for smaller businesses.
- Xero opens in new window – On-the-go accounting for invoices, transactions and cash flow management.
- Zervant opens in new window – Quick and professional invoices with reporting and productivity-boosting features.
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Reference to any organisation, business and event on this page does not constitute an endorsement or recommendation from the British Business Bank or the UK Government. Whilst we make reasonable efforts to keep the information on this page up to date, we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. The information is intended for general information purposes only and does not take into account your personal situation, nor does it constitute legal, financial, tax or other professional advice. You should always consider whether the information is applicable to your particular circumstances and, where appropriate, seek professional or specialist advice or support.
