Making invoicing mistakes is something that might seem harmless at first, but it can in fact have a lot of problematic consequences that can end up costing you a lot of money. A misplaced letter or a wrongly placed decimal point could cause a lot of confusion, it could harm business relationships, make you look unprofessional and in extreme case even lose money. It therefore makes sense to do everything in your power to decrease the chances of something going wrong when creating invoices.
Avoid invoicing mistakes with proper software
A good invoicing software will make sure that you don't do any mistakes when creating invoices to be sent to your clients. It does this in a couple of ways, but the main method of how the mistakes can be reduced are by allowing you to have a database of both the clients and the products used during sales. This will considerably decrease the number of errors that are made when creating invoices.The way that databases are helpful is because they allow you to type in information about clients, customers and products only once. Normally when using Excel invoice templates, for example, you will need to type in info about the products/services that you're selling and the clients to whom the invoices are being sent. This usually means that you'll be needing to type in information about the products that you're selling manually for each client and each product that you're selling.
When creating invoices from inside more professional invoicing software, you can just use the information that you entered into the database. In IntroBills for example you'll be given suggestions about possible clients and products that you can add as you start typing in client name or the product information. This decreases the amount of time it takes to create an invoice and it also decreases the number of errors that are created during invoice creation.
You might now be wondering how exactly are the errors decreased when using a software that uses a database. Well the error rate is reduced because you need to type in the information about the products and the clients only once. The trick is to make sure that the info is type in properly when entered into the database.
Final thoughts and conclusions
Modernization of invoice management can have a lot of other advantages, not just a reduction in the number of errors that are made when invoices are created. We talked about these advantage to a great extent over here at the IntroBills blog. Make sure to go through it all if you're still on the fence whether or not you want to switch to hosted invoice management.