The world of ecommerce has greatly evolved and thus, the need for keeping up with efficient invoicing and payment processing can feel overwhelming. In today’s world, you don’t need to struggle with manual calculations or chase down paper checks.
Freelancers, independent contractors, and even small businesses now have a wealth of free online invoicing and payment processing software at their disposal. In this blog post, we will be looking at some of the top free invoicing and payment processing tools available.
What are Online Invoicing and Payment Processing Tools?
Online invoicing and payment processing are two must-have web-based tools that are essential for today’s businesses. Online invoicing helps you cut out the traditional paperwork when preparing an invoice. With a few clicks, you can easily use a template to prepare an invoice for a client without having to rack your head about how an invoice should look like.
Payment processing, on the other hand, deals directly with payment. It covers the process of payment from a payer and verifies and authorizes the payment, which is when the payee receives the money sent.
Online invoicing software is now integrated with payment gateways that allow your client to pay through the available payment options. This means that you can easily use online invoicing software to create an invoice and add your account to your profile. You will then be able to receive payment from your account directly.
What are the Top Free Online Invoicing Software Tools
To save you from endless research and the possibility of making an unpleasant mistake, I have gathered six (6) top online software that you can use. This software not only allows you to create invoices and send them to your clients but also lets you set up your payment method.
1. FreshBooks
FreshBooks is an online invoicing software that allows you to prepare a personalized invoice, send it to your client, and also receive payments. You can also use this software to snap and convert an invoice to a soft copy.
They offer a 30-day free trial to give you a feel of the paid plan. With FreshBooks, you can auto-schedule payments, track overdue, and even charge late payment fees. You can know when clients open your invoice, cool right? There’s more. You can send your clients invoices in their preferred language. Your client can easily make payments using their credit card or through ACH payments.
2. Square Invoicing
Square Invoices ing is one of the products offered by Square where you can create an invoice. When you open an account on Square, you can create an invoice, personalize it, and send it to your client. You can also track your invoice to know when your client opens it.
The interesting part is that Square also offers a point-of-sale card reader terminal. This means that they have a payment processor which can work with the invoice as well. When your clients receive the invoice, they see an option to make payment using their card.
They accept most credit cards as well as contactless payments like Gpay and ApplePay. This allows them to pay directly to your account. They can also pay onsite using the payment terminal. This makes it a great option for both in-person and remote payments.
3. Wave
Wave is another platform that you can use both for invoicing and payment processes. It’s an ideal platform for invoice and payment processing for small businesses. The platform allows you to design a professional invoice that will give your small business custom branding.
The billing software has automatic cloud backups. You can also track your invoice to know when it’s opened and set an auto-reminder for clients with overdue payments. Wave offers free access to their invoicing and accounting but you’ll have to pay to use their payment processing.
4. Zoho Invoice
Another online payment processing platform is Zoho Invoice. Zoho Invoice is a perfect tool for invoice tracking, time tracking, and expense tracking. Its invoicing tool allows you to generate an invoice and estimates. You can also use it to calculate your income tax.
Zoho invoice payment processor is integrated with products like PayPal and Stripe which makes billing seamless. You can also use Zoho Invoice to automate payment reminders and also bill in different currencies with Zoho. With Zoho Invoice, you can generate up to 1000 invoices in a year and you will have to contact their support team if you want to scale it up.
5. Invoice Ninja
Invoice Ninja is another user-friendly platform for your invoice and payment processing. It is an ideal platform for freelancers and people who are just growing their businesses. You can use Invoice Ninja to create customized professional invoices and automate reminders. Although you will have access to unlimited invoices, the free version carries a Created by Invoice Ninja” watermark. Also, as a free user, you can manage up to 20 clients with auto-billing, and custom taxation.
With Invoice Ninja, you can directly get paid, either in deposits or in partial payments which helps you streamline financial management. When you upgrade to the paid plan, you can even create a custom Invoice Ninja URL where your clients can click and pay invoices.
6. PayPal
This is a very familiar platform that most of your clients will love to have as their payment method. Aside from being known as a payment platform, PayPal also has an invoicing system. You can use it to create, send, and track invoices, using a standard template.
Paypal invoicing also allows you to see paid and unpaid invoices. Your client will receive the invoice through their Paypal and make payments from their available balance or through their linked card.
We hope you found our six top free invoice and payment platforms useful in your search for the best. If you are a Nigerian, make sure you read the article on how to use PayPal in Nigeria.
Conclusion
Regardless of what type of business you own, invoicing software will help you save time and get paid faster, but not all invoicing software is alike. In today’s competitive landscape, efficiency and professionalism are key to success. By automating tasks, improving cash flow, and simplifying financial management, online invoice and payment processing tools empower you to focus on what you do best – serving your clients and growing your business.
Take advantage of the free options of the 6 platforms mentioned above and explore the features that best suit your needs.
