When you took the leap and started your trade business, we bet you were already a pretty skilled tradie. You knew your power cables from your lighting cables (or, you know, whatever is relevant to your business!), but did you also know the difference between "GST free" and "BAS excluded"? Were you quite prepared for how much paperwork is involved in running a tradie business and, worse still, how much hassle it is when you fall behind?
Sadly, financial mismanagement is one of the common reasons new businesses fail. If you don't have a handle on your invoicing, bookkeeping, accounting, cash flow, and other financial essentials, your small business could sink faster than a spanner in a septic tank. When you're a skilled tradie with so much to offer, something as simple as failing to manage your financial situation can feel awful– especially because there's so much help out there if you know where to find it! That's why we want to talk to you about cleverly designed, easy-to-use invoicing software for tradies and how it can help your business run smoothly.
Is Invoicing Software Right For My Business?
You already have so much software in your life; do you really need more? We think so. Let's take a look at what good invoicing software for tradies can do.
Not every business can afford to outsource its accounting and bookkeeping. Some small businesses only scrape in a tiny profit during their first year because it costs a small fortune get off the ground. The fact is most tradies only make a profit in their first few years by doing everything themselves - bookkeeping included.
But that's great! By managing your invoicing, you'll have a real idea of how much money you're bringing in. All you'll need is the right invoicing software to make the process a whole lot faster!
What Does An Invoicing Software Do?
If you're a small business owner and you're drowning in paperwork, there are some fantastic invoicing apps out there that can turn your phone into a portable finance department to make your life a lot easier.
Invoicing software for tradies does a lot more than create invoices. Invoicing software can also:
- Generate bills
- Streamline your payment process
- Provide an overview of your financial situation
- Aide in tax filing
- Automate your accounts receivable.
But most importantly, it allows you to generate invoices from anywhere! No more going home after a long day to write up dozens of invoices based on scribbles you wrote down in the field - you can generate your invoices in the moment and cut down your administration time.
Eliminate data double-handling
A smooth invoicing process saves you time and money, yet so many small business owners are frustrated by their current invoicing system. So, why do tradies find the invoicing process such a headache? One of the most common reasons is the necessity to double (or even triple) handle your invoicing data. The right invoicing software for tradies lets you input your regular products and services into the system, so you can easily make invoices at the touch of a button. Better still, if your invoicing software allows you to make quotes, you can create invoices straight from the quote and have it in your customer's inbox before they reach for their phone. Simple!
Benefits Of Implementing An Invoicing Software
Small trade businesses don't typically have a dedicated finance department. And if you're a sole trader tradie, it's all on you. With the right invoicing software for tradies, you can streamline many of the key bookkeeping processes to simplify your accounts. Because seriously, getting paid should be fun and straightforward.
Ease Of Use For Your Customers
Specially designed invoicing software for tradies allows you and your customers to take advantage of the benefits of automation. Your customers will benefit from the right software because their side of the arrangement is simplified as well! Using invoicing software means that the invoice is sent instantly to your customer's email, ready to be paid at the touch of a button.
Getting paid on time is not something tradies are confident about right now. Cash flow is essential for small businesses, and efficient, time-effective invoicing means the difference between success and stress. Any payment delays negatively affect your cash flow, even if you charge late payment fees, and mean that money isn't always available when you need to pay your bills. If your invoicing is simple, quick and available online, money just flows faster.
Simplifies Your Customers' Experiences
Online payments are drastically faster and simpler, both for you and your clients. When your invoicing information is available on your phone or tablet, you can easily see who has viewed their invoice, who has upcoming payments due and whose payments are overdue. Meanwhile, your customers can see the most up-to-date status of their fees, including all outstanding and overdue charges.
Invoicing software for tradies keeps you and your customers in sync as your financial transactions are recorded in real time. Everyone is on the same page at the same time!
We're all trying our best to eradicate paper, but it's unrealistic to attempt to eliminate every sheet of paper from your office. Some of your clients may prefer a physical invoice, or some of your suppliers may issue paper receipts. But by using invoicing software, you can:
- reduce the amount of paper you use
- find, store and share documents with ease
- ultimately improve the operational efficiency of your business
With less paperwork in your office, you'll have an easier time filing your documents. You'll also save money on buying invoicing pads!
Automating your bookkeeping functions reduces costly errors that inevitably occur in manual accounting. You're only human, after all. But by utilising invoicing software for tradies, you can save time spent on repetitive tasks and reduce the number of errors made by simple, easy oversights. You can avoid:
- creating confusing invoices
- mixing up your invoices
- forgetting to input certain sales data
- neglecting to input contact or payment information.
But even if you do make errors on your invoices, fixing them is a simple matter of a few clicks of a button when you use invoicing software. Your clients will receive the updated information as soon as you complete it, meaning they can make their payment immediately.
Accepts Credit Cards and Other Fast Payment Methods
Instant payments simplify your financial processes, both for you and your clients. Statistically speaking, businesses that offer instant payment options get paid up to 35% faster.
Instant payment methods like credit cards, debit cards and direct debit are what your customers want! When selecting invoicing software, make sure you find an option that integrates with trusted online payment providers like Stripe, Square, and PayPal to encourage your clients to pay on time.
Invoicing software for tradies should include features that automate payment reminders for overdue invoices, so you don't have to put down your tools to follow up on outstanding payments. Better still, by uploading your bills into the system, you can take advantage of reminders that notify you should you forget to make a payment on time.
Best Invoicing Software For Tradies
There are plenty of invoicing apps out there to choose from, but not all of them are suited to the business needs of tradies. Here are a few of the market leading invoicing software for tradies. Let's take a look!
AroFlo is a smart, efficient invoicing solution that accelerates your business cash flow. We have designed our invoicing software for tradies specifically and have features to integrate our software with the payment gateway of your choice, turning your phone or tablet into a fast, secure and convenient card processor. This means you can process your customers' payments at any time, from anywhere.
Field Edge connects your employees. With Field Edge, you'll never forget to schedule your jobs or create your invoices upon completion. At a glance, you'll easily keep track of your company's finances and gain insight into your biggest revenue drivers.
PaySimple can help small business owners with their money challenges by simplifying and automating their cash flow. With streamlined payment systems, you can improve your invoicing and billing systems to get a real idea of your company's financial situation.
Bridge is an easy-to-use app for tradies who want to streamline their invoicing procedures. It allows you to professionally handle every aspect of your business from your mobile device.
Xero offers a range of mobile apps for iOS and Android, allowing you to easily take care of all your invoicing needs. Features include fast online invoice creation, automated payment reminders, and easy bank reconciliations.
Zoho Invoice is an easy way to invoice and accept payments from your customers. The platform allows you to send quotes, track time on projects, monitor your expenses, invoice for jobs, accept credit card payments, and send thank you letters to clients.
Invoicing Software For Your Peace Of Mind
The technology to streamline your administration and bookkeeping is out there, letting you spend more time on the tools and less time tied to your desk. You already carry an extraordinary number of apps in your pocket - apps to track your health, to entertain you, to manage your personal finances. If you're comfortable letting software streamline other areas of your life, isn't it worth finding one that makes invoicing a simple process?
Want to see what we can do to help improve your invoicing workflow? Get started by booking a demo with AroFlo.
Signup to AroFlo by June 30 2022, and save 70% off our start-up costs.Get started 💥