Managing Multiple Business With One Invoicing System
As an entrepreneur, it is tough to manage multiple verticals simultaneously. For example, if you’re working with production, sales, marketing, operations, and customer services, doing tricky calculations when drafting invoices can seem like an unnecessary burden. When you have multiple businesses, the sheer volume can weigh you down.
However, you can simplify sophisticated financing processes besides saving time, money, and resources by using a single accounting software with a comprehensive set of tools.
Read on to find out the three benefits of using an all-inclusive invoicing system and the top five software providers that can help you get the ball rolling right away.
The Benefits Of Using One System
Besides getting paid fast, a good invoicing software solution includes a treasure trove of benefits. Take a look at the three best perks of using a single bookkeeping software for managing several businesses at once.
Saving Time
Did you know you can save up to 16 hours each month with a single bookkeeping software suite? While drafting one invoice can seem like a cakewalk, creating multiple ones with varied items for a dozen clients from numerous businesses at a stroke is an uphill battle.
However, you don’t need to do the complex accounting calculations with such a system. Moreover, good software can help you avoid manual errors by automating calculations. It ultimately improves your productivity so that you can focus on more important tasks.
From automating mundane tasks to streamlining multiple accounting processes, financing software can save you billable hours. In fact, an all-inclusive invoicing solution helps small enterprises organize multiple tasks seamlessly. Most importantly, saving time equates to saving money.
Customization
Efficiency is at the core of a well-built invoicing system as it offers you the complete set of tools to generate any type of invoice instantly. You can customize the brand identity by inserting logos while experimenting with color palettes, themes, and other aesthetic factors effortlessly. Furthermore, you can play with different layouts, fonts, and images to establish several brand identities when using software solutions.
A personalized invoice is advantageous for setting the tone and personality of your brand because it guides you to make the appropriate choices. On the other hand, you have to start from scratch when building your own invoice spreadsheet. Investing in multifaceted bookkeeping software reduces drudgery given most solutions include a long list of pre-set invoicing templates too.
Macro View
The best thing about all-inclusive software is that it integrates with a variety of applications such as WooCommerce, OneSaaS, Shopify, Salesforce, Trello, and many more. In short, you can get a telescopic view of how all your businesses are performing at a glance.
With a reputable integrated accounting solution, you can generate comprehensive reports based on your AP and AR for different businesses without having to log in and out of different apps. This is because a good invoicing solution comes with an organized dashboard with exclusive filters so that you can conduct in-depth analyses easily. Moreover, cloud-hosted billing solutions make your data accessible at all times.
Read more about:
How To Goi 100% Paperless in Your Business
Top Software Solutions To Manage Multiple Companies
It is true that comprehensive bookkeeping software can improve business processes drastically. Still, it is vital to pick a good fit to ensure hassle-free accounting. Here are five industry leaders to help you get started:
1. Invoice Ninja
Invoice Ninja offers integration with seven third-party apps and supports over 30 languages and 95 currencies. You also receive an intuitive dashboard on top of automation and branding tools here.
Starting Price: $8 per month
2. Xero
Xero delivers direct bank reconciliation, inventory reporting, segmented contact lists, project management, late fee manager, and automation amongst other perks.
Starting Price: $9 per month
3. Invoice2Go
On top of personalization tools, Invoice2Go includes invoice tracking, automatic payment alerts, intuitive charts, to-do lists, time-tracking, multi-currency functionality, a client portal, and 13 types of accounting reports.
Starting Price: $9.99 per month
4. QuickBooks
QuickBooks software offers a dynamic solution for SMBs with instant tax calculations, invoice capture, custom reports, and automation besides time tracking. You can work via iOS, Android, and tablet devices too.
Starting Price: $12 per month
5. FreshBooks
FreshBooks offers a expensive accounting software comes with time tracking, automation, invoice capture, and support for multiple currencies. The one-click report generation and payment setup make it best for SMEs.
Starting Price: $15 per month
Conclusion
It is logical to multitask with bookkeeping software when you’re managing multiple businesses simultaneously. Moreover, an all-around accounting solution can save you time, help personalize invoices, and grant a telescopic view of how your businesses are performing.
While Invoice Ninja is an affordable solution, Xero offers premium tools. On the other hand, QuickBooks helps with sophisticated tax calculations and FreshBooks offers the best convenience.
