Invoicing and accounting needs differ from business to business. However, every successful businessman uses feature-heavy billing software with all essentials to run their business efficiently, no matter what kind of business they have. So, why not you? Let’s know what a Billing software does for your business and how it makes your business digital with advanced features.
- Auto-Generated GST reportsGood billing software eliminates the need for any additional software for you to summarize tax information. How nice would it be if GST billing software provides a detailed GST report through which you can directly fill tax returns, which is necessary for every business registered under GST guideline. These auto-generated reports help you with having less manual work, getting exact “tax credit”, avoiding tax penalties, etc.
- Auto-BackupNever compromise the security of your business data (including each transaction, balances, inventory, details of cash and bank transactions etc.). What if your device crashes or gets lost? Billing software provides security with the necessary auto-backup feature. Automatic backup reduces the chances of losing data due to any uncertain activity happening with the device and provides a robust safeguard for your business data.
- Managing Multiple Businesses on a Single PlatformA Businessperson would always find new ways to grow his/her business. Some find new and different business opportunities and decide to pursue multiple businesses together. The challenge is to maintain data for multiple businesses separately. Multiple business management in Billing software helps to maintain multiple product/service businesses. Business management of multiple businesses at a time and on a single platform makes billing software with this feature the most essential requirement for any SME.
- Stock MaintenanceEver wondered how easy it would be to get live tracking of inventory in seconds? Billing software with a robust inventory management feature included makes it very easy. It helps to maintain inventory very simply on a per-transaction basis and does more – like the assignment of units to products, categorization of products and tracking each product by MRP / Batch No. / Expiry Date, Manufacturing Date, Serial No., IMEI No., Count, Color, Size, etc. If the inventory is organized in such order, it results in efficient stock management, fewer chances for loss of inventory, getting accurate stock value, having real-time tracking, etc.
- Barcode ScanningAside from the need for other features, billing software must also be faster in invoicing. How is it possible? Instead of typing details of every product, barcode scanning helps enter product details in seconds and speeds up the billing process. Faster billing indicates that you value the customer’s time. This small feature can increase business sales as well, How? Less time in invoicing improves customer satisfaction and also converts into more sales by way of managing more customer orders in a short time-span, preventing them from going somewhere else.
- Creating Estimates for better Client ManagementOne of the most basic requirements of any businessperson is creating estimates. It gives the customer an estimate of what is the final price and other important billing related details like credit period, terms and conditions for sale etc. A customer makes a purchase decision on the basis of estimate/quotation sent. How useful would it be if billing software allows you to convert the final estimate into an invoice in a single click? No wonder it will save a lot of time and give an opportunity to look professional in front of prospective customers.
- Payment RemindersWith the right billing software, you’ll be able to inform the customers about the transaction they made with you through free transaction messages. The software should also offer alerts and reminders for dues & overdue payments. This feature helps to establish better customer relationships through professional communication and cut down the risk of non-payments or delay.
- Branding on InvoiceEvery small & medium business has its own identity. There are obvious factors which differentiate it from others – brand logo, colour schemes & theme. The billing software should allow invoicing with brand name and logo to look professional and should help maintain business identity.
- Personalization in DetailsAs we mentioned earlier, Billing Software can help you create professional invoices. The software should give the option to show multiple balances of parties, edit whole item lines as per your requirement, help mention your own unique terms and conditions, include Bank QR code for faster payments, different types of print options including regular/thermal and many more.
- Multi-Device compatibilityBilling software offers a wide range of features. What’s the benefit if you can’t use it when you are travelling or not around your workplace. It is important to choose the best billing app along with multi-device compatibility for long term use. You should be able to access your business data through more than one device at a time that includes your phone as well. Moreover, you can share updated business data with your team conveniently and get your job done.
Searching for a Billing Software with Best Features
It is important for businessmen to choose the best billing software that helps them increase profitability and become more efficient. You’ll want access to each one of these features – transaction tracking, reminders for payments, expense management, inventory management, personalized invoicing, taxation management, faster invoicing, and many more. Try Vyapar which provides all these features and many more.