If you’re providing high-quality services but getting paid late, then you’re doing something wrong in your business.
As a sole proprietor or an organisation with multiple employees, it is important to understand that ‘’Cash is King.’’
Cash flow is important for growth, and invoices and billing are a big part of that.
Sending an invoice to your customers can feel like a success, but if it’s delayed, it can become a chore.
There are two ingredients in a business that can either slow you down or help you grow. These include: ‘’ Accounting’’ and ‘’Tech.’’
Adjusting to new technology and doing your accounts are the most challenging things for electricians, plumbers and other field service technicians.
Investing in new tech is an efficient way to automate your accounting process.
With the right software, you can make your Trades business more effective.
What are the Benefits of Using an Invoicing Software for your Trades Business?
Are you slowing down your business process or are you trying to grow?
If you are still manually invoicing your customers, you need to STOP! Using paper invoices and billing methods is slowly becoming outdated. Field Service Technicians are facing challenges such as:
- Having no time to complete paperwork
- Delayed payments
- Errors in billings
- Using an outdated accounting system to manage the entire business cashflow
- Most importantly having to face dissatisfied customers.
This is why using invoicing software that suits your business requirements can help you uplift your process.
The benefits of using an effective invoicing software include:
- Create quick invoices
- Track Payments
- Streamline Invoices and Quotations
- Manage Cashflow
- Schedule reminders and alerts for invoicing
- Make and receive online payments
There are several invoicing apps available that will fit your business budget and do not require you to be tech-savvy.
You can find simplistic software that helps you be efficient and makes it easier to streamline your accounting process. So which invoicing software is the best for your business?
We’ve compiled a list of the top 10 invoicing apps for electricians in 2023, to make your decision-making process easier.
Choose the Best Invoicing Software for your Trades Business.
For most technicians in the Field Service Industry XERO is the go-to accounting software that simplifies every process.
XERO is an on-the-go accounting software suitable for small businesses, and individual accountants. With 3 million subscribers, XERO has built a reputation in the industry. The software is easy to use and straightforward to integrate with other popular banking and Field Service Management Software
Top Features of XERO:
- Streamlines payroll and billing process
- Easy, quick and fast software to monitor business cash flow
- Track Projects
- Support online payment platforms such as PayPal and Stripe
XERO offers a 30-day free trial period with some features for newcomers to test the software features. The software offers three plans starting from USD 22 per month.
Bonus Tip: i4T Business standard and Pro users can also integrate XERO to sync their business cash flow management.
QuickBooks is powerful accounting software for small businesses to customise invoices, and reports and track business expenses.
There are many features in the software that are mostly not found in other invoicing software. Features such as inventory management, and tax are suitable for organisations dealing with such financial responsibilities. The software is built to integrate with other apps, giving access to the user to sync their business information.
Top Features of QuickBooks:
- Create Custom Invoices
- Organise Tax expenses (GST and VAT)
- Generate Reports
- Manage multi-currency transactions
QuickBooks offers a 30-day trial period for first-timers switching to the software. The main feature of investing in this software is the option to pay monthly. The accounting software offers a wide range of packages. Starting prices range up to USD 8 to 18 per month
Bonus Tip: i4T Business platform allows users to integrate with Quickbooks! With the i4T Business and Pro, users can simply integrate QuickBooks to the platform to sync their business cash flow management.
The perfect software that helps small businesses to organise their financial activities to make reporting and auditing simpler. The Wave app is a quick and effective way to save costs and handle expenses, income and invoicing.
Keep everything in your pocket with their mobile app. Wave is the best app for growing your business and supporting your basic invoicing and accounting needs.
Top Features of Wave:
- Customise invoices with templates, layouts and several designs
- Handle payroll and tax filings
- Scan receipts and sort your financial files
- Maintain bank and credit card connections
- Track incoming and outgoing cashflows
Wave offers a 100% free account for businesses that just need the basic features to manage invoices, accounts and banking. There are paid options available for those who need additional features such as credit card processing, payroll management, bookkeeping and taxes. Prices start from USD 35 onwards (Bank transaction fees are set to 1%).
PayPal does not offer advanced features such as tracking or billing, but it is a simple, quick invoice maker solution. The platform is not complicated to use, anyone can customise invoices, add business logos and send payment reminders without a hassle.
PayPal is a recognised and trusted online payment platform all around the globe. Field Service Technicians will find Wave’s accounting software easy to use, compared to other accounting software platforms.
Top Features of Paypal:
- Transparent payment method
- Send and customise invoices from various template
- Automate your invoicing process by integrating with other popular software.
Businesses can create a free account to send invoices to customers or clients. PayPal issues a processing fee of 3.49% + $0.49 per transaction.
Bonus Tip: i4T Business individuals and multiple employees/subcontractors can use PayPal integration to safely receive payments from customers. The Field Service Software and PayPal offer a Transparent and trusted payment process.
FreshBooks is a well-rounded and intuitive accounting software for businesses. The software is perfect for solo Technicians or Field Service Suppliers overseeing multiple employees and subcontractors. Business owners can easily meet all their business tax requirements.
The software solution is great for invoicing and project management.
Top Features of FreshBooks:
- Built for small businesses to create invoices and manage recurring invoices.
- Manage expenses, payments and reports like a pro
- Integrate the software with popular software solutions and emails.
- Time Tracking to increase productivity.
FreshBooks offers a 30-day Free trial for users who wish to migrate from different software. By using the free version you can choose which features are necessary for your business. You can choose different packages starting from USD 4.50 per month.
The software also allows users to custom request pricing depending on their feature requirements.
Zoho Invoicing is an easy and affordable accounting solution for businesses. The software is straightforward when it comes to creating, customising and sending invoices to customers. The accounting software is also compatible with other Zoho tools.
Automatically generates invoices and emails them to your customers. In addition to simple invoicing, you can also send estimates, and bills, track payments, sign contracts and use time tracking features. All your customer files are detailed and easy to view.
Top Features of Zoho:
- Manage everything from cash flow in and outs and reporting
- Handle your business billing lifecycle
- Tax compliance
Zoho Invoicing is completely free for users to explore and create invoices. However, Zoho Books a premium brand for accounting, and bookkeeping offers 3 different subscription prices starting from USD 20 per month.
Square is the best invoicing software if you want to instantly turn your customer estimates into invoices. Square is best suited for small businesses that prefer online and in-person invoicing. Square covers the necessary features for a service-based business. Allowing an unlimited number of invoices, business owners can schedule recurring invoices, and customise and integrate with other platforms seamlessly.
Top Features of Square:
- Online Payment from anywhere
- Generate simple invoices
- Get paid faster
- Integrate with Square apps
Square Invoicing offers a free and paid plan for users with a processing fee of 2.9% + $0.30 per transaction.
Phone payment fee includes: 3.5% + $0.15 per transaction.
Stripe provides a powerful suite which is the best software for wire transfers. The software includes invoicing and accepting wire transfers without having to expose your bank information. The software is transparent and yet secure to make and receive payments.
Top Features of Stripe:
- Generate and customise invoices
- Unique Feature: Wire Transfers
- Collect sales tax
- Accept Payment from Apple pay and Google pay.
Stripe offers a processing fee of 29% + 30 cents
Bonus Tip: i4T Business users can integrate Stripe to make and receive secure payments.
Fiver workspace was previously referred to as AND.CO is suitable invoicing software for freelance technicians. The software provides time tracking and task management features to manage the business.
A quick and flexible way to generate invoices to get paid faster!
Top Features of Fiver Workspace:
- Automatically generate invoices for your projects
- Use easy templates and customise according to fees and other payment fees.
- Includes eSignatures
- Create invoices weekly, monthly or based on the project duration.
Fiver offers Free invoicing templates that you can customise, download and email to your customers.
Invoice2go is the most accessible mobile software to send invoices to clients through messages. Send invoices from any messaging app on your phone.
Create invoices, and use Whatsapp, Facebook Messenger or emails to send invoices. Invoice2go is a secure online portal powered by Stripe.
Top Features of Invoice2go:
- Can be used on both iOS OR Android
- Send invoices through texts, email or other messaging apps
Invoice2go offers a range of payment plans starting with $5.99 per month for 5 invoices. Users can upgrade to a premium plan priced at $39.99 per month with unlimited invoices and lower processing fees.
Invoice2go transaction fees are at 2.9% + $0.30 per transaction.
What makes invoicing software the best for your Trades Business
With so many choices to choose from, you might wonder which invoicing software is best for your Trades business.
The App that allows you to work faster and efficiently is the best app that will help your business grow. Apart from that, here are some tips that can help you choose the right software for your business.
Tip 1: The questions to ask before investing in software:
- Will this software help your business grow?
- Does it scale over time?
- What are the pricing tiers?
- Can the software integrate with banks and other payment methods?
Tip 2: Check for hidden fees
- What is the overall cost of the software?
- Does it come with a monthly subscription or yearly?
- Does it have extra charging fees for integrations?
Tip 3: Focus on usability
- Is the software easy to set up?
- Does it provide a Free trial for new users?
- Does it provide support and training?
- How many people can use the software within the business?
So do you think you are confident to invest in invoicing software?
Before you can make any choice, remember that software’s purpose is to help you simplify your business processes.