How E-Invoicing Can Benefit Your Business
Once the work is completed, getting paid quickly and easily is important to keep your business cash flow positive. E-invoicing is the simplest way to send your customers or clients a digital invoice, which you can now issue directly from your smartphone or tablet within Square Point of Sale.
What is an e-invoice?
Better known as an electronic invoice, an e-invoice is a method used between business owners and their customers or suppliers to send transactional information that ensures trading agreements are being met, and prompt payment can be made.
Why send an e-invoice?
Sending e-invoices is very convenient, will save you time and help business get paid faster. Australian businesses are owed over $19 billion in outstanding invoices, costing time, money and growth opportunities. By sending e-invoices with Square you can get paid 80 percent faster when compared to traditional invoicing processes (such as printing and posting.)
11 benefits of e-invoicing for your business
- Free to use — Send unlimited e-invoices from Square Point of Sale for free.
- Save time — Create and send invoices quickly while you’re on-the-go. Save time issuing and chasing invoices after you’ve finished a busy work day.
- Get paid faster — On average, e-invoices sent with Square are paid in less than three business days, meaning cash is in your bank faster.
- Convenient for customers — Customers can pay quickly and securely online with their credit or debit card, which is faster than processing a manual deposit.
- Simple to manage — Track and sort your invoices by paid, unpaid, overdue, sent, or drafted, right from your smartphone or tablet.
- Send reminders — Sometimes customers can forget to pay. Send a polite reminder requesting a payment.
- Let customers pay later — Bill trusted, regular customers for in-person payments when they don’t have their credit or debit card handy.
- Reduce phone payments — Increase your business security by allowing customers to enter their payment details through Square’s secure, PCI-compliant payments platform, rather than taking payments over the phone (which can increase the risk of fraud.)
- Search features — Search for a specific e-invoice by entering a customer’s name directly into the search bar.
- Integrate your accounting — Connect Square with accounting software such as Xero or QuickBooks Online to streamline your bookkeeping.
- No fees for your customers — Square Invoices are very affordable. Send unlimited invoices for free, and pay only 2.2 percent per invoice paid online. Your customers are never charged a fee to pay.
Sending e-invoices from Square Point of Sale
Square’s e-invoicing features are now conveniently located inside the free Square Point of Sale app. Send unlimited e-invoices for free from anywhere, anytime.
How to send an e-invoice with Square
Send an e-invoice directly from Square Point of Sale with these simple steps:
- Download Square’s free Point of Sale app, which lets you accept card payments and send e-invoices right from your smartphone or tablet.
- Select Invoices from the navigation menu.
- Tap Create Invoice.
- Enter your customer’s name and email address, then tap Add to Invoice.
- If you want to send this invoice at a later date, tap the Send option and schedule a future send date.
- Tap Add Item to add items from your item library, or enter a custom amount.
- Tap Send.