Time is a precious resource that every business wants to save. It is highly imperative for general contractors who are racing against time to ensure the project's completion within the due deadline. However, you do not want to spend your precious time going around clients for payments after finishing the project.
Therefore, you need robust invoicing tools that enable you to send and manage invoices in no time. But with so many options regarding invoicing tools available for general contractors, you might wonder which one is the best for your business.
To help you out, we will list some of the top invoicing tools. But before that, let's understand what invoicing tools are and the vital features they should have before you choose them for your subcontracting business.
Features Digital Invoicing Tools Should Have
Various invoicing tools offer you different features. You can choose any one depending on the business needs. However, it should include the features below.
1. Gives you Different Invoice Templates
An invoicing tool should have a set of different templates that you can choose from as per your preference. Though you do not need an invoicing tool with colorful vibrant templates, it should help you design a personal invoicing document. It will make it easy for your client to spot your invoices.
Moreover, it should also allow adding details as per your personalization. The invoicing tools should let you add your general contracting business logo, address, banking details, or any other details you want.
2. Follows Up with Clients
Another vital feature you should look at in an invoicing tool before choosing it is contact follow-up. You can get updates from clients who have their payments due or did not respond to any quote.
There are a few invoicing tools with advanced capabilities for follow-ups. They can automatically detect any invoices past the due date and notify the clients without human support.
3. Processes Payments Digitally
Sending your client's invoices, waiting for the check, and depositing it in the account can be time-consuming. Therefore, you need to have a method that allows your clients to pay you instantly. And that is what you need to look for when finding an invoicing tool.
The invoicing tool should allow your clients to make the payments directly. To prevent any confusion, you can include a payment linked to the invoice. As a result, it will speed up the process of receiving payments and help you maintain a healthy cash flow.
4. Creates Automated Reports
The invoicing tool should give you a clear report to help you find out about the outstanding payments and the payment cycle. Such reports can be useful for general contractors to know regarding their business cashflows. Also, it should enable you to download the report in different formats to share it.
5. Integrates with Other Tools
Last but not least, the invoicing tool must integrate with the other business tools, such as accounting software, ERP, CRM, etc. It will save time and energy for your workers since they won't have to enter client details from the CRM into the invoicing tool manually.
Best Invoicing Tools for Your General Contracting Businesses
The above features are the basic ones that the invoicing tool should have. You can look for an invoicing tool with additional features to cater to your general contracting business needs. Here are some best invoicing tools for you, along with their top features.
As the name suggests, PaySimple is a user-friendly invoicing tool that opens up general contractors to many benefits. It has a comprehensive range of features, making it easy to send your invoices to clients and receive payments from them quickly. Here are the top features of PaySimple.
- It has a unique customer portal through which you can send and keep track of all the invoices
- The invoicing tools accept credit card payments to receive payments from your client as soon as you send an invoice
- You can also get the options for recurring billing and gives you in-person payment solutions
Another great tool on our list of invoicing tools is AND.CO. It is great for freelance general contractors and general contracting companies due to the vast functionalities it offers. You can get a wide range of features from this tool for invoicing and cash flow management. The top features of AND.CO include:
- Allows your business to have recurring payments from numerous clients
- Easy task management to help you find out the clients who have missed their payment deadlines
- Enables you to create a contract and generate a proposal through its exceptional features
Sunrise is the best invoicing tool for people who understand financial statements and invoicing management. They can use the free version to get their hands on the various features from this invoicing tool. And if you are not financially savvy, you can always switch to Sunrise's paid plan. Let's look at the top features.
- You can get the options for recurring billing
- It gives you the option to estimate and convert it into invoices
- You can use the SunrisePay to receive payments from your clients
- There is a feature for a tax estimator to help you calculate taxes
If your general contracting business is expanding, you need Tipalti invoicing tool. Automation in billing and invoicing is imperative for a growing business. The amazing features for scalability and other things make it the best for expanding general contracting business. Let's go over the features Tipalti gives.
- It has an easy integration process with your ERP system and other software
- You can get a supplier portal to keep a record of all your invoices
- You can receive invoices from suppliers and send one to your accounts receivable using the email or web
General contractors can use these invoicing tools to help them with managing their invoices and getting their payments on time. These invoice tools also offer additional features which you can take as per your business requirements.
And to save you from any hassle, we have an all-in-one solution, VERGO. It is a complete package with functionalities catering to the general contractors' business needs. So, choose it for your business to enjoy the perks of digital banking, virtual project app, and much more.
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