As your business grows and gains new customers, the relatively simple act of billing and receiving can get out of hand. However, by automating your billing system, you can save time and improve the efficiency of the process. If you have a business where your customers are billed the same amount at regular intervals, a fully automated recurring bill-pay system is the way to go. For companies offering a wider variety of products or services at different price points, a more hands-on system that helps you track and send bills is the best bet. Popular billing options include:
Email billing
Automatic withdrawal from customer bank accounts
Automatic credit card charges
Bills mailed through a contract with a third-party service.
Action Steps
The best contacts and resources to help you get it done
Use Electronic Options for Greatest Efficiency
If you can switch all of your customers to electronic billing, you can eliminate the need for paper invoices and achieve a better return on investment.
PayPal lets you send electronic invoices but isn't fully automated for recurring billing. You can also integrate QuickBooks invoices to automatically create e-mail invoices with click-to-pay buttons.
Tips & Tactics Helpful advice for making the most of this Guide
Sending e-mail bills that offer an option to pay instantly can be efficient and cost-effective, but it also has two problems: Your customers may not be ready to receive and process invoices via e-mail, and your invoices may get filtered by anti-spam solutions and not get properly noticed by your customers. Choose your automatic billing solution based on your customer needs.
Some billing services let you use their online billing and e-mail billing services for free but charge a fee for paper bill processing. Since many businesses need a blend of electronic and paper billing, make sure you understand the costs of each fully before you spend too much time learning to use a particular system.
If a third-party solution provider has access to your customer accounts, make sure adequate security features are in place to protect your customers before you begin using their automated billing services.
While e-mail billing can be the most appealing option on the surface, some customers may have concerns about receiving e-mail bills due to fraudulent phishing scams.
The official source of Automating Your Billing System is the Billing Software page at Business.com
Accounts Receivable Management Online database that compares accounting/business management software. Conduct software searches based on industry, operating system or application. www.findaccountingsoftware.com
BillingSoftware Systems Get the perfect billingsoftware for your business. Search listings and reviews of retailers, specialists and providers in your local area now. JustClickLocal.com
Related Resources
Recommended Solution Providers
Expensewatch
On-demand Web application regulates purchasing, payables, and time & expenses.
Tenrox
Timesheet software manages time and expense billing.
invoiceit!
Billing software system for small to medium-sized businesses.
Turtle Creek Software
Goldenseal software for small businesses allocates time and materials to different projects.
BillingTracker
Service-industry professionals can manage time billing and invoicing.
DataCap: TaskMaster for Invoices
Designed to capture, verify and store invoice information. Taskmaster dynamically locates data on every invoice, extracting and validating all important data fields.
Sage Software
Sage provides a variety and time tracking, billing, and expense applications, including Carpe Diem, Timeslips, Simply Accounting Pro, and Peachtree Complete or Pro versions.
Intuit
QuickBooks Pro and Premier versions bill time & expenses.
NetSuite
Time and expense solutions integrate with billing and payroll.
BQE Software
BillQuick is flexible time billing and project management software for the service industry.
Timesheets MTS Software
Both simple timesheet software and time tracking software with invoicing and expense tracking are offered.
Accounts Receivable Management Online database that compares accounting/business management software. Conduct software searches based on industry, operating system or application. www.findaccountingsoftware.com
BillingSoftware Systems Get the perfect billingsoftware for your business. Search listings and reviews of retailers, specialists and providers in your local area now. JustClickLocal.com
Find BillingSoftware for 2010 Compare billingsoftware for free, and find the software that's right for your company in 2010! www.TechnologyEvaluation.com
No matter how superior your product or service, you will not get ahead unless you spend time in vital administrative tasks such as accounting and invoicing. The most important actions for ensuring your invoices get paid are: 1) Submit invoices on time. Many companies have payment cycles, and if you miss the date, you may have to wait much longer for payment. 2) Submit clear, easy-to-read invoices that project a professional image ...
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