Revolutionize Your Invoicing Process: How Invoice Automation is Transforming Small Businesses

Automated Invoicing for Small Businesses

Invoicing is a necessary task for any small business, but manual invoicing can be time-consuming and prone to errors. Invoice automation helps simplify the process by automatically generating and filling out invoices, reconciling payments, and checking for compliance and inconsistencies.

What is Automated Invoicing?

Automated invoicing uses technology to automate the invoicing process, from generating and filling out invoices to reconciling payments. This helps streamline the process and reduces the chance for errors.

Benefits of Automated Invoicing

Invoice automation has many benefits for small businesses, including:

• Saving time and money: Automated invoicing helps create invoices quickly and accurately, reducing the risk of mistakes and speeding up the sales process.
• Quicker payments: Automated invoicing can simplify the payment process, allowing for quicker payment collection.
• Increased productivity: Automated invoicing frees up time to focus on other important aspects of the business.
• Reduced errors: Automated invoicing reduces the risk of errors compared to manual invoicing.

Features of Automated Invoicing

Automated invoicing software can include a variety of features that simplify different aspects of the invoicing process, including:

• Automatic reconciliation: Automatically matches incoming and outgoing payments to their corresponding invoices.
• OCR scanning: Converts receipt images into text and records as expenses in accounting software.
• Machine learning (ML): Automatically generates invoice numbers in the correct sequence.
• Recurring invoices: Automatically creates and sends invoices based on a set schedule.
• Automatic payments: Speeds up payments with online payment links or direct debit options.
• Automatic reminders: Sets up reminders for overdue invoices

Do I need automated invoicing? Let’s take an example

Although invoice automation might seem complicated, it simplifies invoice processing. For example, let’s say you have a new client who will pay the exact same amount each month for your services. To automatically create and send recurring invoices each month to your customer, you set up automatic billing. You can also set up direct debit payments to ensure that the monthly payments are automatically taken from the customer’s account each month. Your invoicing software matches the payment to the invoice as soon as it has been received. It is then reconciled in your accounting system. Once the account is set up, invoices can be created, sent and paid automatically. This allows you to concentrate on the tasks that will help grow your business, such as getting new clients.

Fiskl: Automated Invoicing Software for Small Businesses

Fiskl is invoicing software designed specifically for small businesses to manage billing either from mobile or web.

Fiskl’s automated invoicing solution offers a range of benefits to help small businesses streamline their invoicing process. With fully customizable invoice templates and customer emails, you can easily create professional-looking invoices that reflect your brand. The products and services lists feature makes it easy to quickly select items and services to include on your invoices, saving you time and reducing errors.

Fiskl’s multi-language and multi-currency capabilities mean you can invoice customers anywhere in the world, with automated FX rates ensuring accurate currency conversions. The global tax calculation feature ensures that your invoices include the correct tax amount for the country you’re invoicing, and integrated payment links allow customers to pay instantly online.

With payments automatically reconciled, you don’t need to spend time matching payments with invoices, and any payment fees will be automatically moved to your accounting. This saves you time and reduces the risk of errors, giving you more time to focus on growing your business.