Top 13 Invoice Management Software Solutions

Managing a business requires sending invoices, a painful but necessary process. But things become even more complicated when using paper invoices, which is where invoicing management software comes into play.

According to research, paper invoices take several stages to complete, and manual errors cost $54 to correct on average.

Using the best invoicing software for small businesses helps solve this problem. It allows you to manage all the processes involved in the billing more effectively, saving you lots of time and money. Along with the listed benefits of billing software, you can even customize invoices in various ways, making it easy for you to send them out to customers.

There are several online invoice software programs on the market today, but when choosing one, how do you even start?

Many solutions are available, so we have tested and picked 13 of the best invoice management software to make your decision that bit easier.

Overview of Leading Invoice Management Tools

1. InvoiceOwl – Best for accurate invoicing and estimates

InvoiceOwl is an excellent estimate and invoicing software that helps in creating invoices in just a few taps. Invoices can be generated instantly and are sent out to customers in a professional and modern way.

This invoicing software includes all the functionality you need to efficiently create an invoice, from creating a quote to calculating and generating sales tax and reports, all within one program.

Several features are available in this robust invoicing software that will assist in creating estimations, quotations, purchase orders, credit memorandum, and unlimited invoices. A real-time notification will inform you when clients receive and open invoices.

In addition, you can download your professionally designed invoice templates in the file format of your choice, such as Google Docs, Microsoft Word, Microsoft Excel, and Adobe PDF file formats.

Key features

• Client management: A client information database like contact details, names, and other details can be stored in the software to help you contact clients later to achieve different purposes when you need to contact them.

  It is easy to add new details regarding a client within a few clicks, which will help you create professional invoices. As well as reducing the possibility of typing errors when managing your invoices, InvoiceOwl will also help you increase your efficiency in the process.

• Estimates: The perfect invoice template allows you to fill in the missing details and send them to your clients without having to send an estimate. You can scale your business productivity by simplifying and enhancing invoice management with the software.

• 24×7 support system: With the 24 x 7 built-in chat feature or email support available to you during the entire billing and invoicing software process, you can avoid any possible hassles.Depending on your business operations, you can ask customer support for assistance with technical glitches.With the support team’s expertise, the problem can be resolved in a short amount of time, helping to streamline the entire business process.

• Let’s go paperless: Paper invoices can be skipped, enabling you to reduce human errors and redundancies. Let InvoiceOwl handle your invoicing while you focus on improving your business operations.

• Easily customizable invoice templates: Getting multiple customizable invoice templates to download and customize by adding specific details is possible. Professional unlimited invoices can be created within minutes so that you can provide the best customer service possible.

• Reports detailing business activities: You must adopt a paperless invoice methodology to create detailed online invoices and business reports. Maintaining a track of different money movements is possible with the software.

Pros and cons

Pricing

• Monthly plan are $28.99.
• Yearly plan are $99.99.
• To explore all the features, take advantage of a Free trial plan.

2. FreshBooks – Best for large enterprises

The FreshBooks invoicing software is undoubtedly among the best available today. Small businesses can use them to take on more extensive and demanding invoicing activities since they have over 5 million businesses in their network.

The application is handy for freelancers to present their businesses more professionally. How come? FreshBooks makes invoicing very quick and easy.

Key features

• Importing expenses automatically
• Emails with personalized thanks
• Late fees and reminders
• Customizable deadlines
• Tax calculation by automatic means

Pros and cons

Pricing

Three pricing plans are available at FreshBooks alongside a free trial.

• The Lite pricing plan starts at $15/per month
• Plus: $25/per month
• Premium: $50/month

3. Zoho Invoice – Best for both small and large businesses

When choosing the best invoice management software for your business, you cannot neglect to implement Zoho Invoice in your list of considerations. The platform offers several free yet excellent automation and invoicing features for business owners.

Thus, it makes one of the best invoicing software applications for people looking to streamline their payment and workflow processes while also saving money.

Zoho invoice also offers a wide range of financial services and a platform for managing finances. You can customize your invoices and online payments using Zoho Invoice, which consists of a standalone application.

In addition to its automated features, Zoho Invoice offers a variety of functions that make it the right invoicing software for small businesses and entrepreneurs.

Key features

• A wide variety of templates to choose from
• Integrated multicurrency support
• Multiple language invoices
• Itemized invoices
• Recurring invoices

Pros and cons

Pricing

• Basic plans: $9 /month
• Standard plans: $19/month
• Professional plans: $29/month

4. QuickBooks – Best for small and medium businesses

Small and not-so-small businesses alike have long used QuickBooks’ invoicing management tools. The platform’s ability to collect, organize, and report on business metrics attracts those looking to find better metrics for their businesses.

The invoicing functionality of QuickBooks lives up to its reputation of offering comprehensive accounting tools. Invoices can be customized and automated through a QuickBooks account, billable hours can be added, and similar invoices can be duplicated and sent to multiple customers.

Key features

• Maintain a record of income and expenses
• Creating invoices
• Ensure invoices are paid
• Important reminders

Pros and cons

Pricing

• You can run general reports on the Simple Start plan ($30/month).
• The Essentials, Plus, and Advanced subscription tiers all offer increased reporting functionality; the Essentials plan costs $55 per month, the Plus plan costs $85, and the Advanced plan costs $200 per month. You can often find discounts.

5. Square – Best for small businesses

For small businesses who want to manage both online and in-person purchases, Square is very good. Square’s streamlined approach handles invoice and payment processing, which is ideal for business owners.

Invoices can be customized, recurring billing can be set up, and invoice status can be monitored in real-time with Square Invoice. One-click payments from a phone or tablet facilitate approximately 75% of Square invoice payments within one day.

Key features

• Real-time project tracking
• You can pay instantly via SMS, email, or links
• Create professional invoice

Pros and cons

6. Field Promax – Best for businesses that need advanced capabilities

The Field Promax field service invoicing software is a leading product in the industry.

SMBs can leverage the capabilities of this software by providing adequate support and a sophisticated platform.

The software features customer management, scheduling, dispatching, equipment, and time management.

Many features are available to keep track of work orders, manage teams, create dashboards, and view reports.

You can count on Field Promax for fast and mobile invoice services. Invoices are refined, and field management is in your pocket to keep your finances on track.

Key features

• Personalized invoices
• Tracking equipment digitally
• Management and tracking of expenses
• Integration with QuickBooks

Pros and cons

Pricing

• The monthly plan starts at $49/per month

7. Medius – Ideal for medium-sized businesses

Medius is another worth-adding software to the top billing and invoicing software that can help you automate routine tasks, track spending, and make smarter spending decisions while working with your ERP system.

Using this invoicing and billing software, you can choose various software solutions based on the number of solutions required to stay in compliance and maintain control over your company’s spending.

Medius automates accounts payable, procurement, supplier management, contract management, and payment automation, helping you maximize efficiency in these areas.

Key features

• Improve supplier relationships
• Interactions, benchmarks, and vendor communications can be automated

Pros and cons

Pricing

• Get a quote from Medius

8. Wave – Best suited to those seeking a simple and free invoicing solution

Wave is a time tracking, expense tracking, payments, and bookkeeping software to automate your bookkeeping all in one place. Additionally, it is free of charge, and it’s perfect for freelancers and small businesses alike.

The billing software allows you to track your payments, bills, expenses, and receipts. Make your small business stand out with a professional invoice template.

Key features

• It is free of charge
• Accounting software that automates
• Be notified instantly

Pros and cons

Pricing

• Right now, Wave Payroll offers two different pricing options, which start at $20/month plus $6/month for each employee.

9. Refrens – Best for startups

Invoices can be created for an unlimited number of clients without any payment through Refrens.

Deliveries, payment receipt builder, debit notes, and credit notes can all be created with one click.

Additionally, you can edit fields and columns freely and save the invoice as a PDF, email, or WhatsApp directly.

Creating invoices can be challenging, even if you’re a business owner who generates bills at the end of each month.

Key features

• Unlimited invoices for free
• Control of permissions
• An easy-to-use invoice
• The ability to customize columns

Pros and cons

Pricing

• Free
• Premium: $7 per month
• Premium Plus: $20 per month

10. InvoiceBerry – Ideal for freelancers and small businesses

InvoiceBerry was created specifically for small businesses as the best invoicing software for small businesses. A professional-looking invoice is created and shared easily, simplifying and streamlining the entire invoicing process.

InvoiceBerry offers you a wide range of valuable features, such as automating your invoicing through billing recurring invoices to your repeat and regular clients and providing you with accurate reports regarding your clients.

Key features

• A dashboard for invoicing
• Invoice payments
• Tracking expenses

Pros and cons

Pricing

• $15 for a solo plan
• A $30 pro plan is available

11. Hiveage – Best for all types of businesses

Assuming that you do not have any necessity for the extensive features offered by the billing and invoicing software solutions listed above, Hiveage could just be the best alternative you could try for your invoicing needs.

This is a simple and easy-to-use cloud-based invoicing and billing software that uses a dashboard that provides easy navigation and can be integrated with all the primary accounting and project management software tools currently available in the market.

Key features

• Keeping track of time, expenses, and mileage
• Subscription billing and recurring billing
• Gateways of payment

Pros and cons

Pricing

The Pro plan is free for a 14-day trial. It costs $16 per month for the Basic plan, while the Free plan allows you to serve five clients, and plans cost $42 per month for 1000 clients.

12. Harvest – Best for hourly basis invoices

Billable time and expenses can be tracked automatically with Harvest time tracking and accounting software. Despite its simplicity, it is highly effective.

It is helpful for freelancers and small business owners who want to track the activities of remote teams. It allows team members to keep track of their time and mileage easily. Expenses can also be tracked by uploading receipts.

A few clicks can convert tracked time into invoices, which can then be sent to clients.

Key features

• Keeping track of time and billing
• Planning and managing budgets
• Integration of PayPal and Stripe

Pros and cons

Pricing

There is a free 30-day trial available. It is free for single users to use the full-featured project management and billing software. Teams pay $12 per month.

13. Invoice2go – Best for small businesses

A contractor, freelancer, or small business will find it easy to use, affordable, and straightforward.

Using the billing and invoicing software, users can track time, and expenses, invoice and accept payments, and generate business reports. As well as creating instant websites, you can publish your profile to marketplaces that provide services.

Key features

• Ease of use
• Instant website creation and online marketing
• Business reports

Pros and cons

Pricing

The trial period is 30 days, and you don’t need to enter credit card details. Monthly fees for the Starter plan are $5.99, and for the Premium plan are $9.99.

Key Considerations Before Choosing Your Invoice Software

All businesses need invoices, whether small businesses are making their first sale or prominent companies are reaching profitability thresholds that satisfy stockholders. Invoicing and billing software reduces errors, improves cash flow, streamlines invoice preparation and sending, and streamlines payment collection for companies to help them reduce time, improve cash flow, and stay organized financially.

Below are several things to consider when subscribing to invoice management software.

Flexible pricing

The demands of customers keep on fluctuating. If subscription-based businesses cannot anticipate and address their customers’ needs, they will suffer a setback.

As a result, businesses should select subscription management software that accommodates their customers’ needs and handles pricing changes.

Flexible price plans and seamless pricing changes are critical features of subscription billing software.

Supporting bulk operations

Changes in the outer world affect business changes. Additionally, product additions, removals, and price changes are constants.

Invoice branding feature

In today’s competitive market, brands are proof of credibility and reflect professionalism.

Over 89% of marketers emphasize creating brand awareness before generating sales and leads.

Using corporate branding smartly allows a brand to build a relationship with its customers.

As a result, businesses often attach their logo to letterheads, business cards, marketing materials, and invoices to give them a professional look. A subscription billing platform enables businesses to get corporate branding printed on invoices.

Conclusion

To help narrow your options, keep these things in mind when choosing invoice software. Choose an invoicing software that works for your business by comparing pricing, features, and other factors.