I highly recommend QuickBooks online as the best small business accounting system, in part because of its simple system of paperless invoicing and electronic payment integration.
One of their features that I use the most often and find to be a great advantage in my business is the ability to send customer invoices by email and get paid by credit card. You have the option of using the desktop or browser version or the highly rated mobile credit card payment system top reviews GoPayment by Intuit.
The email invoicing feature helps me get paid quickly while my accounting software QuickBooks does all the bookkeeping. It collects the payment then deposits it into my checking account at the bank. Plus it enters it into the customer record and my check register. Voila!
Quickbooks Online – Send Invoices and Get Paid in One Easy Step
If you can send an email, you can send invoices via email and get paid electronically by credit cards
Get Paid Twice as Fast
QuickBooks has done research and determined that businesses such as yours get paid twice as fast by emailing invoices and accepting credit card payments than the standard paper method of mailing the bill and waiting for the check in the mail.
PAY NOW button
We love the new feature of the button to click called the PAY NOW button. This makes it simple and easy for your customers to pay you online, electronically, and securely with top Internet protection.
No Need Additional Merchant nor Payment Processing Account – Save $50+ monthly
Another one of my favorite parts of the QuickBooks system is that I do not need to either apply or pay for separate accounts such as payment gateways, Authorize.net, and merchant account processing. Even the lowest price merchant accounts caught have monthly fees for set up, transactions and reporting. Avoiding these fees can easily add up to over $50 per month in savings.
Pros and Cons of Sending Invoices by Email
In 2017 email is the preferred form of information delivery for the majority of businesses and consumers. In the not-too-distant past paper or snail mail was the standard for all types of billing. The advantages of email invoicing are the speed of delivery, literally seconds, the ability to automate the process which removes the possibility of human error, or forgetfulness to mail the bill. Additionally, there is no delay in trying to obtain clients correct mailing address, and email address is all that is required.
Most professional accounting systems, such as our recommendation QuickBooks online, allows you to add the email address to the customer record. Thus you just click the email option and the software processes and sends the invoice to your customer for payment.
Also, you will be able to see if your client has viewed the invoice and there are automatic reminder options for unpaid invoices over due to a number of days. This email reminder feature is a great timesaver and has reduced outstanding accounts receivable dramatically in my company.
There are not a lot of disadvantages to using email invoicing, but there are a few. The biggest problem is that some recipients will not receive your email, either it got caught in the spam filter, or it is mixed in with many other emails in their inbox. Features in QuickBooks online, which indicates customer receipt and invoice review, mitigates this problem.
Top Benefits of Sending Digital Invoices in Emails
Good for Mother Nature, Your Customers, and Your Cash Flow.
Paperless Invoicing is Green Business – Save Money and The Planet
Perhaps it is not tons of paper, but every scrap unused saves a tree. Also, you save your company the cost of printer ink, stamps and labor to prepare the bills to mail.
Your customers will appreciate your regard for our fragile planet and view your firm more positively.
More Convenient for Customers
Studies have shown that business people prefer the one click method of paying via credit card vs writing a check and mailing it. Many credit cards offer attractive incentives and points which your clients can earn by paying your invoices with their credit card. Also, this makes record keeping easier for your customers since they have all the transaction details on their credit card statement.
Your customers already use email daily so why not take advantage of this habit to send your bills.
Improve your Cash Flow – Save Money and Storage
If you send your client invoices by email and get paid by credit card you can save up to 2 weeks from client payment to receipt of monies in your bank account. For cash strapped start-ups this increase in cash flow receipt of account receivables is vital.
Save time and stop waiting for someone to prepare and mail the invoices and then wait for checks to arrive in the post.
Reduce your need for storage of paper copies of invoices. All your documents and records are stored safely on the cloud in digital formats.
Future Marketing Uses
By obtaining the email addresses of your clients you can contact them in the future for additional orders and other marketing offers.
As online banking and shopping continue to grow and become mainstream, your customers will demand electronic payment systems and you need to be ready to meet that need. Sending invoices via email is a great tool for your new business and also gives your clients a smooth and pleasant billing experience.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.