If you are the owner of a New UK business, choosing an invoicing tool can be one of the most productive things you can do for your business. After the Making Tax Digital regulation launched in 2019, it has become imperative that you manage your firm’s account accurately and present your findings to the government for suitable tax appropriation.
Apart from this, significant tax returns are offered to businesses that submit their documents on time. One of the most crucial aspects of accounting is invoice generation. As a result, an efficient invoicing tool can significantly help your firm save probable costs and legal liabilities that may arise in the future.
Since printing the invoices manually can become a tedious task, automating the process can save your organization crucial time that can be utilized to implement other vital activities. Therefore, you do not have to waste your time and energy on a job for which thousands of online applications are available.
Here are some of the most incredible invoicing tools available for businesses in the UK that will help you track payments, automate the process, and generate invoices conveniently.
1. Xero
Xero can offer you a one-shop-stop solution for all your accounting needs. With over two million users across the country, Xero offers accounting convenience to small businesses with its robust features and user-friendly interface. You can determine your organization’s overall financing viability by a single glance at the dashboard.
Therefore, enterprise owners that do not find enough time to address the accounting challenges of their organization can utilize zero to their benefit. With Zero by your side, you can manage your business even when you are on the go since the application offers a dedicated application that can be accessed through wireless devices.
2. Billdu
It is one of the best invoicing tools mentioned on this list. This free invoicing software can create an invoice for your business that is in line with regulations prescribed by the UK tax authorities. From choosing the vat rate to making the invoice in any international currency, Billdu can help you with all your invoicing requirements.
The invoices generated by the website will feature your company’s logo, invoice number, issue date, due payment date, item pricing, item details, any applicable discounts, reference number, payment, and a space for additional notes.
3. FreeAgent
Ranked as the best accounting software by Accounting Excellence in 2018 for small businesses, FreeAgent is a popular platform among freelancers. Its robust features and intuitive interface provide ease of working and convenience. Apart from this, its Invoice Timeline utilizes colour coding to differentiate which invoices are settled, overdue, or pending.
As a result, the invoicing software will save you a lot of time since it features a dedicated app that is compatible with both Android and iOS. However, what might come as a shocker to you is that despite the platform’s name being “FreeAgent,” using it to sort your invoicing requirements isn’t free. In fact, some of the plans can be expensive for small business owners.
4. Kashflow
All hail the multi-award winning platform that has wowed several small business owners with its convenient features and the ability to manage finances at the click of a button. The application offers incredible customization and allows users to edit invoices easily. You can also schedule alarms for payments that have been overdue or invoices that require follow-ups with the clients.
Apart from this, you can also generate reports with the help of Kashflow that can help you locate the vulnerabilities in your business. Feed the customer details once, and you will be able to access it for the rest of your life as long as you are utilizing the platform.
The pricing plans entailed by the platform are reasonable, and you can cancel your premium subscription at any time during the month. However, the limited invoice templates might be a red flag that you could encounter while using the application.
5. Crunch
Crunch is one of the free online accounting platforms that can help budding entrepreneurs and enterprise owners. The best part about Crunch is that the platform is free. However, if you subscribe to the premium plan, you will be able to access more features and accounting tools offered by the software.
You can gain excellent features with the application, from tax filing to unlimited accounting support, all at a nominal cost. An award-winning team of certified CAs formulated the specifications of the platform to make it more productive for business owners. However, if you want to access the application on the phone, you will have to subscribe to their premium plan.
6. Bokio
Aren’t new kids on the block cute and inviting? Similar is the case with Bokio. Launched in 2015, Bokio will give you the new kid vibes with serious accounting features that cannot possibly be ignored. The application has been enabled by Machine Learning engineers who put in their everything while designing the platform.
The app’s interface is very subtle and user-friendly and offers business owners exceptional accounting and invoicing benefits. Since the application is new, it is free for all users currently. The target demographic for the platform are freelancers, traders, and small business owners who require assistance while generating invoices.
Bokio also provides a dedicated application for both Android and iOS users. However, if you want to get professional accounting assistance, it will come at a nominal cost of GBP 25 per month. Apart from this, the application does not feature customer assistance. Therefore, you cannot contact the backend if you face any issues with the platform.
In Conclusion
Invoicing can be an uphill task. However, you can delegate the task to online software that will generate invoices for your business. As a result, choosing the right software that fulfils all your requirements is imperative. Ensure that the invoicing platform you choose aligns with your business goals, objectives, and budget. If you are not tech-savvy, get yourself a simple platform with navigable features.