Invoice Billing Software
Does Your Business in Singapore Need An Efficient Invoice Billing Software?
The invoice billing software is an integral part of a business system that captures each product and service bill as well as other chargeable items of a business enterprise.
All these items must be accounted for and captured in the system to complete a sales billing and accounting process. This aid busy entrepreneurs with vital data for financial report needs like company cash flow, budget and forecasting.
Hence it is essential that all businesses consider having such a computerized program to perform these functions.
Unfortunately, many businesses often find mis-posted and unaccounted transactions mainly because of a poorly performing automatic invoice billing application.
But finding such a business invoice software sometimes further confuse busy entrepreneurs due to the various applications that promises ease of use yet so complicated to follow.
What is an ideal Invoice Billing Software in Singapore?
The perfect program for Singapore business owners must primarily help business entrepreneurs view or extract the data they wanted to know to help them in making management decisions, plans, forecast and ultimately know the overall status of the business.
In addition, having the complete transaction records ensure proper financial filings to government agencies like Accounting and Corporate Regulatory Authority (ACRA) and Goods and Services Tax (GST) to Inland Revenue Authority of Singapore (IRAS)Click Here For Your Complimentary Software Demonstration (worth $80)! >>
Functions of an Ideal Invoice Billing Software:
- Integrate invoice functionalities into the accounting core system or ERP software in Singapore.
- Reports can be accessed and printed anytime.
- Can track and maintain recurring accounts of customers.
- Has the facility to provide reminders to users on customers with due and outstanding bills.
- Can accommodate project based work.
- Can track and account for paid and outstanding invoices by customers.
- Can update inventory data and stocks. This ensures that all your related records are kept up to date and synchronised.
- Complete and timely capture of all sales billing, customer and collection data with a detailed invoice template.
- Maintain timely, faster and more accurate computing performance.
- Can process electronic invoice billing interface.
- The collection process is integrated within the system. This saves you some bank reconciliation time.
- Has the facility for invoicing to customers directly and send them chasers on overdue bills via email.
- Has the facility to print invoice while on the go i.e. via the mobile.
- Generate related reports.
Advantages and Added Values of the Invoice Billing Software
- Free customizable invoice template – This is a cost saving feature of the application. Gone are the days where you need to employ the services of a printer just to have your invoices printed. The business invoice software lets you do your own statements using provided templates, readily and quickly.This helps you to maintain the professional image of your Company. In addition, the template also allows you to personalise invoice for different customers, for example, include different payment terms for different customers. A little design or logo additions will be just about! You have an invoice ready to be printed made by you with no cost in less time.
- Single Entry – There is no need for you to post the related entries on the invoice generated. When the invoice is created, at a click of the mouse, the entries are automatically generated and captured in the financials.In addition, there is no need for you to re-enter the customer’s information if it is a repeated sale transaction, for example the address and payment terms. This is because the records would have been saved. You just need to select the customer’s name from the drop down list and the customer’s information is retrieved automatically.
- Captures signature for added document security and validation – This feature is designed as a control mechanism to add validation to the document facilitated by after sales transactions normally done using a mobile device.
- Multiple-users functionality – Allows login and access of several users at any point of time.
- Ease of use – Due to the easy and simple process and functionalities, even non-accounting personnel can understand and know how to use the application.
- Online data for better tracking and monitoring – Using the invoicing software in Singapore helps you to better manage and track your invoices via online instead of flipping through the hardcopies and files. You will be also be able to view the payment status and payment history of every customer. Your paperwork is also reduced.You need not worry about your invoices being lost in mail, your customer will definitely receive the invoices sent to them via email. This will helps you to better manage your cashflow as you are billing to customers on a more timely basis, hence receiving monies on a more timely basis as well. It can help you in chasing those long outstanding amounts owed by the customers.
- Reports for better decision making – Related transactions are captured real time in the financials. Reports can be accessed and printed anytime. These reports can help you better manage your cash-flow position. These reports will also help you in boosting your sales.For example, the customers ageing report, you will be able to identify who the good and bad pay masters are. The sales report can help you identify your top selling customers. The audit trail reports can also help you address any questions for regulatory or compliant reasons.
- Your paperwork is reduced – You need not worry about your invoices being lost in mail, your customer will definitely receive the invoices sent to them via email. This will helps you to better manage your cashflow as you are billing to customers on a more timely basis, hence receiving monies on a more timely basis as well.
- Auto Data Backup – Due to this feature, data are automatically backed up and are readily available for view and review.
Our Business Invoice Software Billing Features Are For You If You Want:
- Less error in recording your sales transactions
- Accurate tracking of your invoices with search function
- Automatic input of recurring entries
- Reports to analyze your sales performance by conditions you define
- User friendly controls to customize your invoices
- Functions to schedule invoice or send reminders to chase customers for outstanding amounts
- Generate invoice anytime, anywhere
Invoice billing software helps Singapore business greatly as the billing function that is found in the application is integrated into the accounting system. The following core functions can be performed:
Captures all data on sales, billing, customer and collection – By completely capturing all data of sales billing, customer and collection details, it can generate the related report on sales, and receivables which ultimately brings the company’s financial status reports.
Updates inventory data and stocks – As the program is able to capture all data and details concerning customers, the inventory module in the core system automatically updates stock balances, updates stock of the company.
Track and maintain recurring accounts – Due to the update and capture of sales and collection, the program will be able to produce reports on regular and recurring transactions of sales, and other accruing and recurring transactions.
Auto Update financial status report in real time – With the timely and accurate manner of recording processes, it can process and update all data relating to the company’s financial status. Financial reports can therefore be printed in a more accurate, fast and timely manner.
a) Off the shelf software
i) One popular accounting and billing software option in Singapore is QuickBooks Online, with affordable monthly fee. It is easy to use and the mobile app version allows you to perform your invoice billing anytime and anywhere, saving you time.
You can keep regular and manual backup off your mind, as QuickBooks Online does secure backup. In addition, there is no need for you to pay additional fee for updates or upgrades, as it is already included in the monthly fee. This makes it a cost effective solution for you. As it is also an an Inland Revenue Authority of Singapore (“IRAS”) approved accounting software, you do not need to worry if your register records will not meet the local tax authority’s requirements.
ii) Our off-the-shelf solution features MYOB, which is an accounting data suite designed for easy management on all financial data of a business enterprise. Preferred by business entrepreneurs due to its outstanding product features and valued customer satisfaction.
MYOB Premier Plus offers Powerful Invoice Billing Features. The software caters to Multi Currency-Transactions, Multi-Users, Time-Based & Tracking and Payroll.
With superior customer support, you will have access to quick phone and email customer support for help and troubleshooting.
b) Customised solutions
Our customised software are tailored to your business needs, to help you streamline and improve your current invoice billing process. We will have a comprehensive no obligation discussion to have a walk through of your current invoice billing process and recommend solutions to address your company’s needs.
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Belinda Chew, Director and Business Owner
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