- 30th September 2019
- Posted by: Edward Kirkby
- Category: Xero YouTube Videos
Traditionally in Business invoices are created at the end of each billing period – printed, put in an envelope and then mailed to the customer.
Lots of companies still invoice this way but it’s very inefficient. It’s time consuming to make the invoice and theirs a delay in the invoice reaching the customer – Assuming they actually receive it! Furthermore, it also takes time for the customer to then process it and crucially actually pay the invoice.
There are more problems with this method: You must create and reuse templates for all the different customers and then enter their billing information twice: Once into your accounts and once into each invoice sent out.
Also, keeping track of all the bills and payments can take a lot of time – Especially when they’re kept on your computer desktop / in a folder.
Sending invoices by email won’t help reduce your workload significantly – It’ll simply cut out the process of putting the invoice into an envelope.
An alternative to traditional business invoices is Online Invoicing or ‘e-invoicing’ these make it quick and easy to create and send out invoices and you’re able to track the invoice. Switching to online billing makes invoicing more efficient for your business and so reduces costs and speeds up payments.