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Billing software enables businesses to generate automatically customised and professionalised invoices and send them to the customers. It is especially beneficial for large businesses having complex invoicing processes. The invoice generating and managing process becomes complicated as the business grows. Therefore, small businesses are advised to invest in good billing software to provide enhanced customer services and improve cost-efficiency.
MS Excel is a free program that helps users simplify the invoice generating process. Users can choose from a gallery of customisable templates or build invoices from scratch.
Here is a step-by-step guide for businesses to generate an invoice using an Excel template:
Like an Excel invoice template, Microsoft Word is also a free program that allows users to choose an invoice layout from their template gallery or opt for a more time-consuming process of creating an invoice from scratch.
Mentioned below is a step-by-step guide for you to generate an invoice for your business using a Word Template:
An invoice or billing software helps businesses automate the time-consuming process of generating invoices and other documentation by monitoring the products and services delivered to the customers. Using billing software can offer the following benefits for businesses, irrespective of size:
|Billing Excel Template||Billing Software||Billing Word Template|
|Does not provide any payment option.||Fastens payment by providing a “pay now” option and linking online payment options.||Does not provide any payment option.|
|Businesses must manually enter invoice numbers, product details, company details, etc.||Reduces errors by auto-filling invoice numbers, product, and company details.||Businesses must manually enter invoice numbers, product details, company details, etc.|
|The invoice generation process is manual and time-consuming.||Reduces time by automating the invoice generating process. It also notifies clients about late payments.||The invoice generation process is manual and time-consuming.|
|Does not ensure business record safety in case of hard drive failure||Stores and manages data in the cloud, ensuring data safety in case of hard disk failure||Does not ensure business record safety in case of hard drive failure|
|Requires the use of a computer or laptop for generating invoices||Allows users to generate invoices from any location using mobile apps||Necessitates the use of a computer or laptop for generating invoices|
|Offers less variety of templates||Offers more variety of templates||Offers less variety of templates|
|Offers only invoicing templates||Offers several other documentation options apart from invoicing||Offers only invoicing templates|