If you're a small business owner, you know that invoicing is a necessary part of your day-to-day operations. You also know that it can be a pain to manage all of the different invoicing software options on the market.
An invoicing system helps you keep track of the money that is owed to you by your customers. It also allows you to manage your expenses and create reports that can help you make better business decisions.
What to look for when comparing systems
The most important thing to look for is ease of use. You want a system that is going to be easy to set up and use on a daily basis. You also want a system that offers features that are relevant to your business.
Five popular invoicing options for Australian businesses are Xero, MYOB, Quickbooks, Rounded, and FreshBooks.
Each of these systems has its own unique set of features and pricing plans. We'll take a closer look at each one below.
Xero
Xero is one of the most popular invoicing software options on the market. It's known for being easy to use and for offering a wide range of features. It's a cloud-based invoicing software that is suitable for small businesses. It is easy to use and has a user-friendly interface. Xero also offers a mobile app, so you can manage your invoices on the go.
PROS:
- It's user-friendly
- It has a mobile app so you can use it on the go
- Cloud-based, so you can access it from anywhere
- You can import files and transition details
- It calculates payroll, payments and tax.
- It supports multiple currencies
CONS:
Xero as limited features compared to other options on this list.
You can check out Xero's price options here:Pricing Plans | Xero AU
MYOB
MYOB is another cloud-based invoicing software option that is popular among small businesses. MYOB offers a variety of features, including the ability to track inventory and create custom reports.
PROS:
- Cloud-based, so you can access it from anywhere
- It helps you keep track of your cash flow, invoices, inventory, bills and payments, payroll and taxes.
- You can create custom reports
- It runs your BAS reports
- It supports multiple currencies
CONS:
MYOB has limited customer support options.
MYOB has a range of pricing options, from small business lite plans to premium plans. They also have a separate Payroll plan. You can see their full pricing here:Compare Accounting Software (myob.com)
Quickbooks
Quickbooks is one of the most popular invoicing software options on the market. It offers a variety of features, including the ability to track expenses and create estimates. Quickbooks also offers excellent customer support.
PROS:
- It has a large variety of features available
- You can track expenses and create estimates
- It has excellent customer support according to its reviews
CONS:
Some users find the interface difficult to use.
Quickbooks has 4pricing plans – Self-Employed, Simple, Essentials and Plus. You can find their pricing here:Pricing and Plans | QuickBooks Australia (intuit.com)
Rounded
Rounded is a newer player in the invoicing software market. It offers a simple, user-friendly interface and accepts international currencies. Rounded has very helpful customer support, so it’s a great option for people new to electronic invoicing.
Rounded also integrates with a variety of other business tools, such as Slack and Dropbox.
PROS:
- It has a simple, user-friendly interface
- It supports multiple currencies
- It can integrate with some other business tools
CONS:
Rounded has limited features compared to other options on this list.
Rounded has Starter and Pro packs, you can find their pricing here:Affordable invoicing and accounting software | Rounded
FreshBooks
FreshBooks is another cloud-based invoicing software option that is popular among small businesses. Designed for service-based businesses, it offers a variety of features, including the ability to track expenses and create custom reports.
PROS:
- It's cloud-based, so you can access it from anywhere
- There is a huge variety of features available
- You can track expenses and create custom reports
- Reviews indicate that Freshbooks has excellent customer support
CONS:
Some users find the interface difficult to use.
Freshbooks has four pricing plans – Lite, Plus, Premium and Select. You can see their pricing here:FreshBooks Pricing, Lite, Plus and Premium Packages | FreshBooks – Australia)
The verdict
When it comes to invoicing software, there are a lot of options available on the market. It can be challenging to know which one is right for your business.
Take some time to consider which features are most important to you and your business before making a decision. And if you're still not sure, each platform has a free trial option, so you can try it and see what works for you.
You can find more small business tips on our blog.
