Invoicing Software

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Invoicing Software TrustMap

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Learn More About Invoicing Software

What is Invoicing Software?

Invoicing software helps businesses and entrepreneurs create, send and track professional-looking invoices. These invoices will contain a detailed list of rendered services and products and their associated costs.

Invoicing Software can either be cloud based or installed on a local machine. Cloud based systems will also offer the convenience of a mobile app. Look for invoicing products that have a simple UI, reporting features, and integrations with other key tools, such as eCommerce and CRM databases.

There are several benefits to utilizing invoicing software. Invoicing software can help reduce errors and labor efforts through the automation of routine or recurring transactions. Businesses can also save costs from digitizing their billing process. Finally, invoicing software reduces the amount of time it takes for the customer to pay outstanding invoices by making it more accessible.

Invoice Software for Small Businesses


Small and midsize businesses are frequent users of invoicing software, particularly point solutions for invoicing specifically. In contrast, larger businesses and enterprises usually adopt bigger systems, like enterprise accounting and ERP systems, that include invoicing as a feature.


For SMBs, standalone invoicing software can be the ideal solution. Standalone invoicing is often more robust and versatile than invoicing features found in SMB accounting systems. Point solutions can also be cheaper as a budget line item than bigger packages like ERP systems. For small businesses that don’t need a full supply chain management or ERP platform, standalone invoicing software can be more cost-effective.


SMBs in a range of industries could fit these circumstances. For instance, fields like professional services, with high volumes of invoicing but without a corresponding procurement process for materials, may get the most out of a point solution.


Invoicing Features and Capabilities

Most invoicing software products on the market should include:

  • Invoice creation with predefined templates

  • Tracking of overdue invoices

  • Import from Excel

  • Output into several file types

  • Credit card processing capabilities

  • Secure bank to bank transaction capabilities

  • Customizable reporting

  • Multiple currency capabilities


Some products offer additional functionality, including:

  • Quote generation

  • Customer purchasing and contact info database

  • Inventory management

  • Financial and tax reporting

  • Project driven expenses

  • Recurring billing

  • AI to detect fraud or errors

  • Integration with other tools, such as Salesforce, eCommerce, collaboration tools, and expense management

Invoicing Software Comparison


  1. Point Solution vs. Accounting/ERP Suite: Many larger financial systems, such as ERP platforms and enterprise accounting systems, include strong invoicing capabilities. There are also powerful point solutions for invoicing. Buyers should consider whether they can leverage the additional features in a financial suite, or if they truly just need a powerful invoicing function in particular.

  2. Business Scale: Will the invoicing software be used by an SMB, a large business, or an enterprise? SMBs have distinct requirements for invoicing compared to large companies. For instance, SMBs may prioritize automation of basic manual tasks and ease of accessibility, while larger organizations can better leverage automation and scalability of mass actions and the ability to manage a high volume of transactions.

  3. Invoicing Specialty: Invoicing can take several different forms. Consider which approach will be most germane to the business. For instance, is the organization focused on subscription billing management, on-the-go billing that leverages mobile applications, or internal invoicing for expense management?

Pricing Information

There is a wide range of pricing on invoicing software, depending on the features and capabilities required. There are several free products that only charge a per item transaction fee. Most range from $10 to $60 per month range and still include a transaction fee. Integrated or full scale accounting solutions can cost up to $500 per month. Be sure to take advantage of any free trials offered to ensure the product is a comprehensive solution for your needs.

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Frequently Asked Questions

Do I need invoicing software for a small business?

Not all small businesses need a dedicated invoicing software, but many could benefit from one. For instance, businesses with high invoice volumes, like professional services, should utilize an invoicing function.

How does invoicing software work?

Invoicing software creates and tracks billing for businesses, allowing businesses to more easily create invoices and customers to fulfill them.

What are the benefits of invoicing software?

Invoicing software automates and digitizes an otherwise time-intensive and error-prone invoicing process. This saves time and money for businesses, particularly those who frequently use invoices.

What other systems have invoicing?

Invoicing capabilities can often be found in accounting software, supply chain management systems, and ERP platforms, among other financial systems.

How much does invoicing software cost?

There are some standalone freemium products that charge per item, while other standalone invoicing products range in monthly pricing from $10-60.