Since its launch in 2008, Zoho Invoice has developed features designed to help small business owners.
âWe’ve had small businesses as our target market from the start,â said Harikrishna, Zoho Invoice product expert. âBilling is the first thing they have to do right. “
Harikrishna announced that Zoho decided to offer Invoice free to small businesses âAs a way to give something back to the small business communityâ.
What is Zoho Invoice used for?
There are many challenges surrounding the task of invoicing customers.
Invoicing is usually a tedious administrative task. For example, knowing who paid on time and who didn’t can take hours. Done well, an invoice has a professional appearance. It clearly shows how much money is due and when.
As part of business operations and planning, a software application like Zoho Invoice also tracks a company’s income and expenses. It can let you know what is being sold and who is making the sale.
With one click, you have access to a dashboard where you can view current amounts, outstanding, as well as the number of days outstanding (16-30, 31-45, over 45, for example). Using the dashboard, you can easily access customer information, project cost (fixed or hourly) and more.
You choose – there are over 30 built-in reports that you can generate from within Zoho Invoice. For example, you can track the revenue for a specific project, the performance of sellers, the type of payment method most often chosen, and which customers spend the most money.
Zoho Invoice Highlights
- Zoho Invoice is used by millions of customers and is used in 150 countries.
- Zoho Invoice includes the ability to use 17 languages ââand over 170 currencies (with exchange rates built into the transaction).
Zoho invoice components
Here are some key components of Zoho Invoice that make it an effective tool for small businesses:
- You can convert quotes to invoices after the quote has been approved by the customer.
- You can create an invoice from a desktop computer or a mobile phone.
- You can customize every aspect (like adding a logo) and choose from many designs.
- You can send invoices by email, SMS, payment links or through the Zoho Invoice Customer Portal.
- You will know your DSO (Day Sales Outstanding) in one click.
- Customers can pay in different ways, such as credit card, ACH, and PayPal.
- You can accept prepayments, partial or multiple, to keep the cash flow stable.
- You can configure Invoice to issue automatic payment reminders, at times you choose after the due date (for example, reminder 3 days after the payment is due, etc.
- You can track billable and non-billable expenses.
- You can use the readings from the GPS or the odometer for mileage charges.
- You can automatically scan expense receipts.
- You can create recurring expenses like overhead like phone, internet, leases.
âTime tracking is a favorite with customers,â said Zoho Invoice product expert Santhosh G.
âA lot of customers really like this feature of Zoho Invoice,â he said. âThe business owner can record the time spent on a project, using the web or mobile apps, then add a timesheet note to the invoice. “
The timesheet note lists all the days and hours spent on the project. The information will appear on the invoice.
Business owners can choose to generate over 30 types of reports from Invoice, such as:
- Sales by customer
- Vendor performance
- Turnover for each project
- payment methods
- Business owners and customers can view the invoice in real time using the customer portal (or the company can choose not to allow the customer to access the portal).
- In the portal, customers can view, edit and pay invoices.
- The business owner will be notified when the customer views an invoice and when the invoice is paid.
Using Apps, the business owner can follow Invoice on the go, including:
- Estimates and quotes
- Down payment invoices
- Recurring invoices
- Zoho Invoice integrations are seamless. Within the Zoho ecosystem, they include: Zoho Flow, Zoho Creator, and Zoho Sign (remote document signing).
- Additional third-party integrations include: PayPal, Google Workspace, Office 365, CRM, 2checkout, Fundbox, Analytics, Authorize.net and more.
- Zoho Invoice has 12 region-specific tax management components.
- You can track the sales tax levied on each transaction and use this information to generate tax reports.
- You can separate customers as taxable or non-taxable (exempt).
Using Zoho Invoice, you will be:
- GDPR compliant
- PCI Compliant
- HIPAA Compliant
- Complies with ISO 9001
Invoicing is absolutely essential for small businesses because without good invoicing you won’t get paid! The best way to ensure that your invoicing is done on time and that payments are carefully tracked is to use good invoicing software.
Zoho Invoice goes beyond this department by offering a fully functional dashboard that shows you not only your current invoice amounts and what is unpaid, but also how long invoices have gone unpaid.
How much would you pay to have a tool that allows you to easily track overdue bills and payments so that you never leave money on the table?
Well, for now Zoho Invoice is offered free of charge as a way to give back to the SME community.
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