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Best Payments & Invoicing Software in 2018

Payments & invoicing is the lifeblood of a business when it comes to accounting and finance. Without effective payments and invoicing management, a business will not be able to track its income and expenses. At the same time, they will lose track of the cash flow. At its core, payments and invoicing seems like a routine function the business can handle without hassle but the intricacies of the task coupled with the frequency at which it occurs make automation necessary. Virtually every accounting and finance software offer solutions for this particular function, enabling businesses to tally their payments and invoicing, including handling debts and following up with clients that have not honored their commitments. Each aspect of payments and invoicing will be considered under this subcategory.  Read the full software guide...


THE ULTIMATE Software Buyer Guide 2018

The Ultimate Payments & Invoicing Software Buyer Guide 2018

Product recommendations, vendor rankings, market overview and tips on how to select Payments & Invoicing software for business. Published in November 2018.

Payments &amp; invoicing is the lifeblood of a business when it comes to accounting and finance. Without effective payments and invoicing management, a business will not be able to track its income and expenses. At the same time, they will lose track of the...

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Payments & Invoicing Software Guide

What is Payments & Invoicing Software?

Payments & Invoicing software aims to simplify invoicing, payment processing and expense tracking so you can spend less time on billing management and more on your core business.

You can use products in this category to automate billing, create and manage invoices, accept online payments, track work hours and generate billing cycle reports. Some products even allow you to store customer information, automatically send reminders for outstanding payments, generate tax reports and automate recurring billing.

Some important considerations when choosing payments & invoicing software: should the program integrate with your existing accounting software?; could it handle multiple users?; does the software allow you to include all important details in your invoice?; and are there any customizable templates on offer?

The more advanced products provide greater customization options. For instance, some programs also allow you to customize your invoice reminders, set a separate schedule for each customer, or recommend different credit limits for different customers depending on their credit history.

Almost all accounting software solutions have some payments & invoicing features, but most of them have limitations. If you are looking for advanced features such as auto-billing, you should choose a standalone solution for payment & invoicing.


Common Features of Payments & Invoicing

2-Factor Authentication Adds an additional layer of security by requiring an extra step in the login process. Usually external devices are required for this or a text message with a verification code is sent to the user when trying to login.
Accounts Receivable Track unpaid invoices and keep on top of what your customers and debtors owe you.
API Application Programming Interfaces (APIs) are programmatic intersections with external products or platforms that allow for custom integrations with your own solutions or other solutions you are using.
Balance Sheet A common financial statement used as a snapshot of a business's assets, liabilities and capital at a particular point in time.
Billing/Invoicing Issue bills and invoices to customers, often combined with tracking capabilities for outstanding payments.
BitCoin BitCoin support - a digital currency operating independently of a central bank.
Budgeting Planning and tracking capabilities for financial budgets and plans often used to manage funds across different departments or for investor / shareholder oversight.
Calendar Management Manage and update calendars for scheduling or consolidation of events across teams, departments or business functions.
Contact Management Manage large amounts of personal or business contacts in a centralized system.
CRM Integration This indicates whether integrations with Customer Relationship Management (CRM) software are supported by a software application.
Customer Management Manage customer databases and/or track outstanding shipments, payments and more.
Dashboard Dashboards are digital interfaces commonly used to visualise data or give quick access to important features and functions of online platforms. They often serve as an overview gateway in software applications.
Data Export Exporting functionality can be used to streamline the migration of data sets and information across systems, platforms or applications.
Data Import Importing functionality allows you to use data sets from other systems or platforms to cut down on data entry requirements or to more easily migrate records from similar applications you have used in the past.
Data Visualization Data visualization features render a visual interpretation of data sets through the use of charts, infographics and other visual cues generally in form of a reporting dashboard.
Expense Tracking Track employee travel and other expenses to stay on top of budgeting requirements and reimbursements.
External Integrations Integrations with other software products or platforms to improve efficiency and compatibility across systems.
Forecasting Forecast upcoming expenses, sales, revenue, user levels, etc. through the use of predictive methods and past data.
Inventory Tracking Stay on top of inventory levels, to manage the storing, reordering or production of stock items.
Multi-Currency Support of different currencies for payments, accounting purposes, taxes, reports and more.
Multi-User Supports more than just one user account and generally allows for collaboration with colleagues.
Notifications Includes notification support and sends you alerts with information on important events and other time sensitive instances. For example through push notifications on mobile phones or email notifications.
Payment Processor Integration with external payment processors like PayPal, Master or Visa, generally for credit cards and similar methods.
PayPal PayPal support allowing for the transfer funds electronically or online payments.
Payroll Manage employee payroll to keep track of taxes due to the government, pension schemes and payments to employees.
P&L Support for Profit & Loss statements in financial / accounting systems.
SAP Integration Integrates with common SAP services.
Scheduling Schedule tasks, resources, appointments, payments, communications, etc.
Stripe Stripe support as a payment gateway allowing you to accept payments online and via mobile apps.
Supplier Management Manage suppliers and purchases required in the day-to-day operation of a business.
Tax Management Manage tax payments and reporting requirements to ensure compliance with local or national taxation regulations.

Latest User Reviews of Payments & Invoicing

Easy Accountax
Hiren Dharsandiya, SEO Team Leader - Softqube Technologies Pvt. Ltd.
"Best Small Business Accounting Software"

Easy Accountax is a cloud based and can access anywhere , anytime. The customization ...

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"Best software for CRM customization and in..."

It is the best software for inventory management and payrolls, and the best thing is ...

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Dhiraj Patel, Asp.net MVC Developer - Whiz Solutions Ltd - UK
"best product.."

Easy accountax is the ideal solution for you. Online cloud based accounting software ...

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Thummar Nikunj, PHP Developer - Whiz Solutions Ltd - UK
"Best banking Database management Bills Exp..."

Easy Accountax is a feature-rich cloud-based accounting software that provides accoun...


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