How can I use Cheqbook for Online Invoicing?
When you’re running a small to medium sized business, one of the major factors of day-to-day operations that you need to concern yourself with is the financial aspect of such an enterprise. You need to know where every dollar is going to and coming from in order to keep things like payroll, operating accounts and (most importantly) tax information in proper order. One of the major ways that a smart online accounting solution like Cheqbook can help with these tasks is by the way these systems handle the task of invoicing. Invoicing is important because it creates a paper trail. You always have a document to refer back to in order to know which clients have recently paid you, who still owes money to which party and more. Online invoicing is a great way to take this practice to the next level.
To understand how accounting software with online invoicing can truly benefit your business, you need to first understand the intricacies of the traditional process. While traditional paper invoicing methods aren’t exactly complicated, they do create a large number of opportunities for error. When generating a paper invoice, it is your responsibility to make sure that it gets to the appropriate party. You’ll have to make sure you have the most updated contact information for a particular client and you also have to hope that nothing happens between its origin and destination by way of the postal service. If an unfortunate mishap occurs and the postal service loses your invoice, it could be weeks or even months before you find out about it.
Even when the traditional invoicing process goes well and happens without issue, one of its biggest disadvantages has to do with time. You need to wait for the client to receive the invoice, which could take days or even weeks depending on a variety of different factors you can’t control. The time is then lengthened when the customer has to respond appropriately to the invoice using the mail system. Accounting software with online invoicing capabilities like Cheqbook have developed a way to alleviate a large number of these concerns in the most efficient ways possible.
When you start using Cheqbook for online invoicing, the first step to take involves generating the invoice in the first place. The process of generating an invoice using Cheqbook is largely automated, thanks to a wide variety of different tools built right into the service itself. Once you navigate to the “Invoice” screen, you can generate a new blank invoice document in just a few seconds. Instead of manually entering all of the client’s contact information into the form on screen, you can select the name of the client in question from the “Contacts” section of your account. The Cheqbook service will then populate the window with all of the relevant information. All you need to do at that point is input information about the price to be charged, the goods delivered and/or the services that have been rendered.
You have two distinct options with regards to how you can proceed once the invoice has been generated and you’ve double-checked all of the information to make sure it is correct. If the client supports such a practice, you can use the Cheqbook software to email them the invoice right from your laptop computer, desktop computer, tablet device or even mobile phone. The client will receive the invoice immediately and you can remove all of the time commitment that is normally associated with using the postal service. It is important to note, however, that you should always check with the client to make sure that they’re willing to receive an electronic invoice using these methods. Not all clients will necessarily have the desire or even the capabilities to do so.
Should you so choose, you can also print out your invoice using Cheqbook and mail it using traditional methods.
Once the invoice has been generated and either sent or printed, Cheqbook also takes care of the filing part of the process that you would normally have to do manually. Using traditional methods, you would typically be responsible for printing out a second copy of the invoice for your own records. You would then need to file that invoice manually in the appropriate location so that you would always have the copy to refer back to in the event that it was ever needed. With online invoicing using Cheqbook, the electronic copy of the invoice is automatically filed within your smart online accounting user account. You can even mark the invoice as “Paid” once the client has sent payment, or once you’ve received that payment and deposited it into the appropriate account. Cheqbook takes nearly all aspects of the invoicing process and simplifies it down into something that you can now do in just a few quick moments of your time.