How to Automate Invoicing and Get Paid Faster
Posted on 3rd June 2021
Why create the same invoices over and over again when you can automate the process? Check out the best practices in invoice automation.
Business owners know that time is money. So why spend a lot of time on repetitive tasks when you can automate them?
With the help of technology, you can automate invoicing, a necessary but time-consuming everyday task for many businesses that bill their customers. You can not only save time but perhaps even get your invoices paid sooner.
In that light, this article will explain the basics of invoice automation and its benefits.
Use Automatic Email Reminders
One of the biggest problems that many small businesses have, especially those that extend credit, is late payments.
Thankfully, collecting on invoices and accounts receivable no longer has to be done manually these days. You can rely on an email automation software package to generate and send all kinds of reminders. This means you won't have to worry and waste precious human resources on sending those emails.
There are three types of email reminders you can use.
Some companies send a friendly reminder before the invoice due date.
However, the most popular reminder is when an invoice becomes due. The software keeps track of due dates and will automatically send customers with unpaid accounts a reminder.Finally, there's also the reminder that gets sent out to overdue accounts. Some business owners or accounts receivable departments may not feel comfortable calling clients to chase after unpaid invoices. The good news is that the software can follow up on all unpaid invoices on your behalf.
Create Recurring Invoices
Many businesses send the same invoices over and over again. Companies that sell membership and subscription services are a good example of such businesses.
But why manually create the same invoice every month when you can create a recurring invoice once and schedule when to send it?
It's even possible to schedule it for any time and for any number of customers.
Maybe you have to send the same invoice on the first day of every month, or maybe every Monday. The software can handle everything and do whatever you want it to do.
Schedule Future Invoices
Yes, it is possible to schedule future invoices, too.
When sales information is still fresh in your mind, you can create invoices and schedule a future time and date when you want them to be sent out. Your automation software will do the rest.
Details like this can not only help busy entrepreneurs save time but also declutter their mind. You can do what you have to do and the software will take care of everything else later.
Automation Saves Time
Smart business owners don't waste time and resources on repetitive tasks. Why would they, when there are all these amazing automation tools around?
Invoicing is one of the first processes that a business owner should consider to automate, especially if there’s a need to schedule when to generate and send invoices.
A good email automation software can help in this regard and instantly increase your company’s productivity. If you don’t have one yet, just the reasons above should be enough to convince you of the benefits of getting one.
Next Steps
As Xero Gold Partners we can help you chose a package and tech to help you streamline and automate your invoicing.
Written by:
Nicola J O'Sullivan -
Effective Accounting
Founder | Xero Champion | IR35 Expert
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