Still Invoicing and Accounting With Word and Excel? 5 Reasons to Stop
How mean is it to argue that Excel spreadsheets are out of date? In the end, here is where it all started. For accountants, Excel sheets made their job simpler. As a result, numerous business people have used these invoices in the past. On the other hand, Excel spreadsheets have become obsolete due to the advent of more sophisticated and trustworthy online invoicing software.
Even though this will suffice for most of your demands, newer and more modern solutions may save you time and money. And nowadays, with the rapid technological change, online invoice payment software lets customers pay within the invoice.
Here are the key reasons you need to stop using word and excel and switch to online invoicing software.
Critical reasons for why you need to 5 Reasons to Stop using word and excel
Many small company owners and freelancers use Word and Excel because they are so comfortable. But they don’t help beyond a point in managing the finance and invoices. With the expansion of the business, you need online invoicing software.
Using a word or excel template never achieves your consistency
It doesn’t matter how often you use a template for invoicing in Excel; your invoices will never look the same. Adding a single row to an invoice may have such a profound effect on its design.
When you don’t have a lot of bills, this could not signify much to you. However, compiling hundreds of invoices might become a significant hassle. It’s also unappealing to look at. Such annoyances are just not acceptable for a paying customer. Excel’s user interface is geared at those who like math, not those who dislike it.
So, when it comes to bulk invoices, all you need is online invoicing software.
You don’t have command over anything.
You will have a difficult time making any changes to the excel document. This is because a group of employees updates these spreadsheets daily. By the time it reaches you, each employee has accrued additional billable hours.
What if there is an error? It is possible to roll back the sheet to a prior version, but your staff will have to redo all of their work. Manually updating the sheet is another option that will take a long time and leave you irritated.
You can’t automate Excel spreadsheet version control, so you’ll have to put in hard work. Also, when you need to track invoices against payment, online invoice payment software helps better than a word or excel templates.
It makes it difficult to add and alteration using excel and word formats
How often have you been forced to make last-minute adjustments to an Excel spreadsheet? There are times when your customer comes back with a new request, which turns out to be chargeable. And there you have it, your bill.
Excel makes it difficult to add another row after doing computations in columns or calculating a sum in a group of cells. It’s tough to add or remove items from an excel sheet. The use of manual formula input and pointers always results in mistakes.
The online invoicing software enables you to create, modify, and customize the invoice as per the client’s need.
Also, when it comes to a bill based on an estimate or a quote, you need to go back to another excel in which you have prepared an estimate and then prepare the statement. While using online invoice payment software – you can convert any estimate into a bill using a single click.
Invoicing with excel and word is attached to Your Desk
Using Microsoft apps like MS Office, have you ever attempted to create an invoice on your phone? Please take a look at it and see whether it’s for you.
There is no point in creating or modifying an Excel invoice on a laptop or desktop computer. Consequently, there is no escape route. At this point, it may not seem like a big deal, but as time passes, it might become an issue.
Invoices may be generated at any time and from any location thanks to cloud-based online invoicing software.
Sticking to Excel and Word, you are missing out on a lot of things
Things can be done more efficiently than they are now. Imagine a future where you could write and print invoices on your phone in two minutes and monitor billable hours and spare yourself from avoidable business losses.
Online invoicing software has brought a new era. Anywhere you go, you’ll be able to access and modify your invoices. Clients have the freedom to choose how you charge them. Maintaining a consistent set of invoices is still possible. They’re also visually appealing.
Key advantages of using online invoice payment software
While Word and Excel will suffice, for the most part, they do have certain drawbacks that may be addressed by switching to another programme. Specific online invoicing software provides these benefits.
It helps in maintaining a steady flow of funds
Avoiding cash flow issues is a top priority for all company owners. Unfortunately, if you utilize Excel or Word invoices, the entire procedure will require far longer than it should in this day and age.
For instance, if you send an email attachment containing a Word invoice, the receiver receives it. However, while this is a legal method of making payments for a company, it has one big drawback: it takes a long time. For example, waiting for a cheque might take weeks of refreshing your email inbox.
If you choose to utilize one of the latest online invoice payment software, you’ll be able to take your payment process to a whole new level. Invoicing and payment processes will be shortened for all parties involved, shortening their payment wait times.
lowering the likelihood of misplaced invoices
On your computer’s hard drive, choose an invoice form, input the client’s information and store it in one of several folders.
However, if you’ve got a lot of work to do and your focus is flagging, you may save the invoice in the incorrect folder.
Consequently, you won’t be able to discover it when you need it. Some examples include collecting invoices for your tax return or reminding a late payer of their bill.
If you can’t find that document in your files, you won’t be able to send that customer a reminder. Even more, regrettably, you won’t be able to claim this cost on your tax return either.
But all of these cannot happen when you use online invoicing software.
Eliminating the need for tedious physical labour
Suppose you use Word, Excel, or any similar tool to complete your invoicing. In that case, you’ll be completing two independent activities simultaneously.
When it comes to invoicing, there’s a lot of work. On the other hand, after processing payments or issuing invoices, you’ll want to go back and update your spreadsheets with the most recent calculations. A mismatch is inevitable when moving in this direction simultaneously as the other two.
Today, you can quickly fill up and submit an invoice with a few taps on your smartphone. Specifically, several invoicing applications are available for smartphones and tablets.
You’ll save a lot of time by decreasing the manual effort that Word and Excel invoices need. In addition, a productive mentality and enthusiasm for new tasks are both enhanced by taking time off for recreational pursuits.
There are several methods for creating invoices. You may still use some old features like Word and Excel, but there is some online invoicing software that can make your job a lot simpler.