Statistics reveal that automated invoicing can save about $16 per invoice. While billing software is a great way to improve a company’s efficiency and cut down costs, finding the ideal one for a certain business can be a daunting task. To help you on your journey, we listed the best pieces of software you can use to automate billing. Scroll past the table to gain insight into the way we ranked and evaluated them, read reviews of each item, and discover a guide to help you shortlist until you find the best software for your needs.
Handpicking the best products on the market that deal with billing and invoicing is just as a challenge for us as it is for you. Our selection is the result of thorough research and comparison against the criteria in our evaluation methodology.
Software solutions for billing can be utilized in a variety of industries. So most of these products aim at meeting the general needs of all business types. However, there are some options that target specific industries. For instance, legal billing software has entirely different demands than one for retail shops, and specialized software solutions are here to cater to just that.
Another way that software can be specialized is based on business size. In that sense, large enterprises will need a vaster selection of features as opposed to small businesses, so the same kind of software cannot be equally efficient for both.
Finally, since the number of business industry or size-specific features does not define the quality of software, we’d like to highlight that this point only helps towards the classification of products.
Billing solutions can be accessed either online or offline. The first are cloud-based and most frequently provided as web-based apps, while the latter need to be downloaded and installed on a computer.
What’s best for you will primarily depend on your needs. Online SaaS and all its features clearly won’t be accessible without an internet connection. So if your business operations don’t depend on the internet, invoicing shouldn’t be an exception and you should go with offline billing software.
On the other hand, web-based SaaS usually comes at a lower cost. It also has features such as real-time tracking, as well as automated updates and maintenance. So if some or all of your business operations run online, opting for online billing software will probably be the best way to go.
As far as our part of the job is concerned, we’d like to point out that the way the software is accessed does not necessarily affect the way it performs. So this stage of our evaluation is also used for classification purposes.
Some of the key advantages of using billing platforms include saving money and saving time. With this in mind, we appreciate products with as many automated features as possible.
When evaluating automated billing software, however, we are looking for two key features to determine if and how a certain piece of software will rank in our table. Those are automated recurring payments and follow-up notices.
More specifically, we are looking for solutions that enable users to set recurring payments on autopilot, regardless if it's weekly, monthly, quarterly, or on a custom period. Also, we are ranking software that offers the ability to send out automated notices for any outstanding overdue bills.
Additional features that work towards the goal of cutting back on resources and minimizing late or missed payments can also give billing software a boost in our rankings.
Over 3.7b people made online payments in 2019 and their total transaction value reached $4,137,523m. These numbers indicate a massive worldwide adoption of the trend of accepting payments online. Time efficiency is one of the main reasons behind that.
Consequently, when compiling the list of the best billing software, we paid close attention to options that support online payments. More specifically, we were looking for integrations with payment gateways such as Stripe, PayPal, etc. that would enable clients to pay their invoices online.
The more of these payment integration options, the higher the ranking.
When it comes to flexibility and customization—as far as invoicing is concerned—the first thing that comes to mind is the ability to brand invoices with your own logo and color scheme. So, it goes without saying that we are eliminating any invoice generator software that provides anything less than clean and simple, professional-looking invoices.
Furthermore, we are also looking for deeper customization options such as: defining cost of services with any variables that might affect it; setting up a product inventory which will be the basis of goods’ price forming; managing taxes, such as Sales Tax or Value Added Tax (VAT); managing multiple currencies, and so on.
Advanced billing products may come with stunning features such as tax reporting. While such options are more than welcome, we are primarily looking for two key reporting insights to even consider ranking a billing solution: accounts Receivable (AR) reports and revenue flow at a given time.
Aside from reports on expenses, profit, losses, and payments collected, when evaluating billing system solutions, we are also looking for reporting options on aging accounts, sales, number of clients that pay on time, and so on. Offering more of these insights can grant software higher rankings in our table.
Most businesses often make the mistake of purchasing different software for operations that are directly related to billing. Case in point: time tracking. While integrations can get the job done, why not keep everything running under the same hood while saving some money while at it?!
Consequently, we decided to give extra points to products that offer built-in time tracking software. It doesn’t matter if it’s a simple invoice software or it comes with some of the most advanced features. If it tracks billable time, assigns rates or flat fees and imports such data into invoices, we consider it a great option that deserves a boost in our rankings.
“There’s an app for that” is a slogan introduced by a technology giant in 2009. A decade later, we still appreciate a smooth-running app for just about anything, and billing is no exception.
One of our final evaluation steps is to examine whether you can take billing on the go. Some of the providers come with OS-native invoicing apps, while others offer web apps. We have no preference in this regard as long as users can easily access them on various handheld devices which, in turn, gives the software a boost in our rankings.
The most expensive products aren’t necessarily the best ones. On the same note, the cheapest options aren’t the most suitable either. What makes software truly stand out among its competitors is its value for money, which is the last aspect we take into consideration in our evaluation methodology.
That said, when determining ranking, we don’t necessarily focus on the best free invoicing software. We try to find balance instead and bring you the options that provide the best value for money while aligning with industry standards.
We appreciate software that provide free trials so users can test them before making a purchase, and the same applies to solutions with money-back guarantees. Both options get a hike in our rankings.
Finally, we never overlook the payment processing fees as these affect their overall expenses too. This way, we help you avoid seemingly cheap products whose monthly cost goes through the roof due to hidden processing fees.
Getting all the necessary details before making a decision is crucial. We understand that the table along with details on the methodology of how software is ranked there is not enough to help you make a decision. That is why we also provide you with in-depth reviews of all the solutions we ranked. Scroll down to discover details about features and functionality, as well as pricing, industry focus, and so on.
Over 5 million users consider FreshBooks the best billing software on the market. It is especially popular among small businesses and freelancers, helping them put their business on autopilot thanks to its ability to send reminders, charge late fees, and track billable hours. FreshBooks offers all essential features of software of its kind, so it is a great option for any business, regardless of the industry.
Listing all the main features of FreshBooks is next to impossible. The system covers anything you can think of from tracking billable time to reporting and streamlined invoicing workflow with features like tax calculation and multi-currency management, as well as the fully-operational FreshBooks mobile app. It’s that vast selection of features that makes it equally great as a law firm billing software as well as one for freelancers.
You can get FreshBooks Lite for $15 per month. This basic package covers up to five billable clients only. The two other plans, Plus and Premium, cost $25 and $50. They support 50 and 500 billable clients, respectively. Finally, there is also the Select plan which offers custom-tailored pricing for companies with over 500 clients. Another noteworthy point is that FreshBooks offers a 30-day free trial, with no contracts and no credit card required.
Zoho Invoice is yet another excellent solution for self-employed individuals and small businesses. Regardless of the industry, this time tracking and billing software will make running your business incredibly easier. With recently improved recurring invoicing and other automated features, Zoho Invoice guarantees seamless invoicing from send out to payment.
Zoho Invoice offers around 80 different features—at disposal to subscribers of any plan—distributed in a dozen categories covering various aspects of billing and more. However, the vast variety of features it offers is not what puts this product among the best invoicing software. It is the fact that the majority of them are entirely unique to Zoho Invoice and cannot be found in other solutions of its kind. Some of those include:
Zoho Invoice offers a more-than-generous freemium pricing model. Besides the free plan, there are three paid options; Basic, Standard, and Professional, which cost $9, $19, and $29 per month, respectively. Note that these prices apply to month-to-month subscriptions. Otherwise, annual subscriptions will get you 2 months free. Finally, all paid plans come with a 30-day money-back guarantee.
While most billing tools limit their features to lower-tier pricing plans, with Zoho Invoice every user gets the same features, regardless of the plan they sign up for. The pricing tiers differ in regards to the number of customers you can invoice, the number of users that can access the software, as well as the number of workflows you can automate.
Moreover, there are add-ons that users can benefit from when they need a little extra room but don’t want to upgrade to another plan. In this sense, you can add extra users at the price of $2 per user per month (or $20 per user per year) as well as another 50 scans per month at the price of $5 per month (or $50 per year).
What makes AvidXchange one of the best billing software is that it’s an all-encompassing solution for AP & payment automation. It has dedicated apps for purchase orders, payment, and invoicing. All of them seamlessly integrate with each other but, for the purposes of this review, we will be looking at the lattermost only which is a complete solution of its own, tailored to satisfy the needs of midsize businesses.
Covering all the must-haves of a solution of its kind and offering over 100 integrations with related solutions, AvidXchange performs equally well as an attorney billing software as well as one for any other industry.
Other than the in-app online team communication option, the software does not boast many one-of-a-kind billing features. However, it does cover the basics perfectly well. You can scan and import physical invoices, automate workflows with the help of rules and alerts, and so on. On top of that, you can give 3rd parties such as auditors permission to search invoices, as well as access real-time reports on accounts, growth, and performance.
AvidXchange is one of the companies that provide pricing details upon request. More precisely, you need to get in touch and provide their support team with some basic details about your business. Then, they will provide you with a free demo tailored to your needs and present you with the best possible price to match the offer.
More than 250000 small businesses trust Invoice2go with their invoices. This subscription billing software saves customers three hours every week and helps them get paid seven days faster, on average. Invoice2go comes with all the basic invoicing features. What makes it stand out, however, is its focus on micro and small business owners who are always on the move. That’s why it has been the number one invoicing app for the past 10 years among iOS and Android users.
Automatic syncing across all your devices is what makes Invoice2go the best invoice app on the market. Plus, the product’s freshly updated version comes with many new and useful features as well. Users now get a home screen and notifications center for easy business management. Daily to-do lists give details on overdue and due invoices, which you can now send via messages. Other features that come with the revamped Invoice2go are copying estimates to invoices in one tap, creation of client statements, and personalization of invoices.
The company offers a Standard plan of only $9.99 that covers basic features like phone support, time tracking, expense tracking, and client activity. It also lets you track invoice status and integrates with Xero. The brand’s Advanced ($19.99) and Unlimited ($33.99) plans act as boosted versions of the Standard option. Users of the Advanced package get an extra feature for appointments. The best of Invoice2go comes with the Unlimited plan which brings you recurring invoices and payment receipts.
If you want to try Invoice2go, you can claim a free 14-day trial to test all its features. Moreover, in case you purchase the product and can’t find your way around it, there’s a 30-day money-back guarantee. The 100% refund applies to first purchases only, while renewals and upgrades don’t qualify for it.
Simple and smart, Xero is one of the best invoicing software for your small business. Log in online anywhere and anytime on any of your devices to get real-time reports of your cash flow. Easily run your business on the move and get paid faster thanks to online invoicing. In addition, Xero integrates with over 800 business apps including Gusto, Stripe, and Shopify.
Xero lets you capture and manage expenses, projects, and invoices. With this cutting-edge billing system software, you also get to perform basic actions like sending invoices and quotes, as well as entering bills. Fast reconciliation of bank, credit card, and PayPal transactions is another useful feature of the product. The list goes on with repeating invoices, mobile invoicing, bulk invoicing, and customization functionalities.
Anyone can try Xero by subscribing to a free 30-day trial that gives access to all features. If you like it, you can invest in one of the three packages.
The Early plan costs $9 per month and includes 5 invoices and quotes, 5 bills and reconciliation of up to 20 bank transactions. For $30 per month, you can get the Growing plan that grants all the previous features without any limitations. Finally, there’s the Established plan for $60 per month. With the Established invoice software users gain multi-currency invoices, expense management, and project tracking.
Xero lets you purchase additional perks too. For a base monthly price of $39 + $6 per month per person, you can get the Gusto full-service payroll. This service is available across all 50 states.
With a total of five different plans targeting self-employed individuals and small businesses, QuickBooks is a product for everyone. This tool can easily be the top billing software for mental health professionals and, at the same time, meet the needs of mid-sized retail businesses. QuickBooks users save 40 hours on average per month, and 98% of them agree that the platform simplifies running their business. Moreover, customers say that the powerful invoicing tools of QuickBooks save them on average $3,500 in tax savings per year.
QuickBooks is the best billing software for maximizing tax deductions. Snap and store receipts as well as share books with your accountant and automatically sort business expenses to ensure high tax deductions. QuickBooks covers many other processes too. Manage bills, track miles, manage contractors, and track time with this single-stop solution. The list of features just keeps on growing with tons of useful options such as reporting, payroll management, and automated transaction feeds.
QuickBooks has many plans on the offer so that anyone can find a suitable option. Don’t forget to try the 30-day free trial to test the product, and discover what features you need the most.
All QuickBooks plans come with receipt capture, QuickBooks support, and app integration. Moreover, they all include essential billing tools, reporting, invoice tracking, maximizing tax deductions, sending estimates, and sales tracking. With any of the business plans, you can also manage up to 1099 contractors. The cheapest Simple plan costs $12 per month.
For $20 per month, you can get the Essentials plan that comes with additional bill management, time tracking, and 3 users. QuickBooks Plus has a monthly rate of $35 and enables tracking of both project profitability and inventory alongside granting access to up to 5 users. Larger enterprises may want the Advanced plan for $75 per month. Some of the extra features here are access to up to 25 users, smart reporting, premium care, and accelerated invoicing.
Freelancers have a special monthly plan for only $5. The Self-Employed package includes all the basic features plus mile tracking, and tax estimates.
Finally, by paying an extra $18 + $4 per employee every month, you can get self-service payroll. To get the most out of QuickBooks’ payroll software, you should pay $40 per month + $4 per employee per month for the full-service solution.
Wave is the best invoicing software for freelancers you can get completely for free. Integrated with the brand’s free Accounting and Receipts systems, Wave becomes a single stop for managing your financials. Covering basic features only, however, this isn’t the right product for businesses with more than 10 employees.
Wave is a straightforward and free billing software. The product comes with tons of essential tools. Invoicing in any currency, sending estimates, creating personalized invoices, and setting up automatic payments for recurring invoices are some of the options Wave supports. The tool enables credit card and bank payments for maximizing your income. Automation is a massive part of the software, with automated functions such as accounting, backup, payment reminders, and sales tax calculations on the menu. Cash flow insights, payment tracking, and mobile invoicing complete the long list of Wave perks.
Wave comes with no hidden setup or monthly charges. Users pay competitive 2.9% + 30¢ credit card processing fees and 1% on bank payments. Everything else is free. In this regard, Wave is the most affordable option on the market right now.
Promoting itself as the best invoicing software for contractors and small businesses, FreeAgent delivers on its promises. Over 90,000 users trust this service that handles invoicing, expenses, project management, and sales tax. FreeAgent goes beyond sending invoices. Instead, the product tackles all crucial processes via automation and helps with brand recognition.
This billing software acts as a combination of several different tools. Invoices, estimates, expenses, projects, time, and banking are all easily managed with FreeAgent. Focusing on invoicing features, we loved the automation possibilities such as automatic recurring invoices alongside automated reminders for late payments. You can do all this in over 25 different languages and multiple currencies. The software’s Invoice Timeline will keep you up to date with all paid, due, and overdue invoices too.
Anyone can test FreeAgent and its features by subscribing to a 30-day free trial. Moreover, the company has a great new customer offer that grants 50% off for the first six months. Pay only $12 per month for six months, and afterward, $24 per month. You get unlimited everything without contract or setup fees and can claim 12 months for the price of five months by paying upfront.
If you want a powerful recurring billing software, Sage 50cloud is the perfect option for you. The software has carefully tailored plans to cover the demands of both small and mid-sized businesses successfully. Depending on your needs, the product can elegantly handle your invoicing, inventory, cash flow, budgeting, and taxes.
Sage 50cloud provides users with a robust set of features. Outlook Connector, Cloud back-up, and Microsoft Office 365 integration are what makes this product stand out. Also, the platform boasts essential attributes, such as sales optimization, payroll, and expense management tools. Its one-click reports and user-friendly dashboards also helped Sage 50cloud get featured here.
Sage 50cloud is a reliable but pricey invoicing software. The basic plan for Sage 50cloud is Pro Accounting and costs $46.83 per month. It’s a simple desktop accounting solution covering essentials like invoicing, income management, payments, and expenses.
Premium and Quantum cost much higher, at $72.41/month and $182.91/month, respectively. This price, however, gets you a plethora of useful features. Premium, for example, includes job costing, advanced budgeting, audit trail, and serialized inventory. Quantum is even better equipped with faster processing, industry-specific features, workflow automation, and personalized dashboards.
Conveniently and professionally oversee your financial processes with Online Invoices. This product is affordable and flexible when rated as the best invoicing software for small business owners. Larger companies, in contrast, will appreciate the multi-staff feature that boosts efficiency through the roof. A business of any size, however, will find useful the deposit payments, pre-filled templates, and automated features that guarantee a seamless workflow.
Besides the primary option of fast and easy invoicing, Online Invoices lets you manage clients, manage estimates, and receive payments. Plus, this invoice software generates insightful statements and reports. Other features we must mention here include the recurring invoices, customization, time tracking, and expense tracking. Its comprehensive oversight of your success rate and areas that need improvement, the tool boosts the overall performance of your business.
Online Invoices offers one free package and three premium plans. The free option is right for individuals and small-sized businesses with up to 15 clients. It grants 15 invoices, 7 subscriptions, and 30 estimates per month.
The other options are great for companies of any size, depending on how much you’re willing to pay. Their respective monthly prices are $9.95 (Silver), $19.95 (Gold) and $39.95 (Platinum). Silver supports 300 clients, 300 invoices, 30 subscriptions, and 120 estimates per month. With 2,500 clients, 1000 invoices, 50 subscriptions and 1000 estimated every month, the Gold plan suits established businesses. Finally, those who want unlimited everything can opt for the Platinum package.
Now that you have all the details and more, it’s time to choose which of the above solutions is the right one for you. As the final stage of helping you make an informed decision, we have prepared the below guide to help you shortlist until you find the best software for your business needs.
Not all businesses work in the same industry or have the same number of employees. Therefore, you need a product that will align with those parameters of your business.
For example, if you work in the healthcare industry, you probably need medical billing software. Other professionals such as contractors and freelancers most likely have entirely different demands from the platform they will buy.
By sticking to the suitable options, you make your choice much easier. Plus, you lower the chances of paying for features you won’t use. It doesn’t make sense for you to pay extra for patient scheduling or clinical charting if you’re a lawyer, nor be billed for any enterprise features if you’re a small business owner.
Long story short: shortlist billing system software designed for businesses like yours.
Once you have a list of the most suitable options from our recommendations, it’s time to define the features you seek in a billing platform.
Do you need to accept invoice payments via certain payment methods? Would you like to be able to define different tax values? Is a mobile app a must for you?
Once you know all the billing tools and features you need, compare them against the shortlisted products. Ideally, you should now detect at least several options that meet all the requirements.
By now, you should have a list of several billing products that suit your business industry and size. Also, all these options should have the basic features you seek in the perfect product.
This last step will help you make a final decision by defining your budget, and it is especially important for those looking for billing software for a small business. Merely determine how much you can afford to pay for this service and use that information to eliminate the options that fall outside your budget.
Never underestimate the power of a good system for billing and invoicing. These products are cost and time efficient and, consequently, help your business and employees perform better in the long run.
With the best options listed and reviewed above, you are one step closer to finding the perfect pick for you. All you have to do is follow our buying guide and discover the most suitable billing software for your business to start reaping the benefits of this smart investment in no time.