What is billing and invoicing software?

Billing and invoicing software generates invoices for the services and products provided by a company to a customer. Streamlining the billing process, invoicing solutions speed up the time it takes to get paid and provide real-time insights into your business's financial health.

What is the best invoicing software for small business?

BigTime is the best invoicing software for professional services firms from 1-500 employees. Offering customizable invoices based on your bill rates and industry, BigTime allows firms to shorten their billing and collection cycle.

What is the difference between invoicing and billing?

Technically there is no difference between invoicing and billing. Invoices and bills are both used to share the amount a customer owes a business for a good or service. Typically the language changes based on who is referring to the document. Businesses generate an invoice and customers receive it as a bill to be paid.

What are the benefits of billing and invoicing software?

Billing and invoicing software allows your company to generate professional invoices for clients. Additional features include: Invoice templates to speed up the creation process Customized invoices based on bill rates and client needs Collect online payments through ACH or credit card Review and approval process to eliminate errors Automate the collection of project time and expenses into an invoice Integrate with your accounting solution to enhance AR workflows Automatic payment reminders through a client portal Ability to forecast income with business intelligence

What are the billing types?

There are 5 common billing types including: Manual, Time & Materials (T&M), Fixed Fee, Item Based Billing, and Project Monthly Fee. Invoices can also be customized to offer mixed billing based on client needs. For professional services firms, the most common billing types include fixed fee, time and materials, and mixed billing based on custom client needs.

How many types of billing are there?

There are 5 billing types that are most commonly seen: Manual, Time & Materials (T&M), Fixed Fee, Item Based Billing, and Project Monthly Fee. However, each invoicing type can be combined in various ways to create customized invoices that meet individual client needs.

Is invoicing software secure?

Yes, invoicing software is secure if set up properly to protect your firm’s data. When selecting a billing software, ask about the following: PCI DSS compliance Level 1 PCI compliance End-to-end encryption and tokenization Fraud prevention GDPR compliance

How does billing software work?

Simply put, billing software takes the time and expenses tracked against a project budget to generate and send unlimited invoices to clients, and receive payment. Generally, invoicing tools are built into software that can automate the internal daily workflows for finance and operations teams.

How much is billing software?

The price of billing software will depend on the vendor selected and the invoicing features included. Learn more about BigTime’s plans and pricing at https://www.bigtime.net/pricing/.

BILLING AND INVOICING SOFTWARE

Maximize profits

BigTime’s Billing and Invoicing software improves A/R strategy to speed up cash flow.

Improve your time to bill

Leverage the tracked time and expense data entered to speed up invoice generation for a variety of billing models
Stand out from the plumber next door with professional, branded invoice templates
Catch small but costly mistakes by automating multi-level reviews and approval for invoices
Integrate with your existing accounting software to enhance existing AR workflows

Get paid faster

Make it convenient for clients to pay via credit card and ACH directly from the invoice in their inbox
Shorten your billing to collections cycle with automated invoice reminder emails
Give clients access to a portal for visibility into outstanding invoices, the option to pay now or schedule, and save payment methods

Boost profitability with centralized financial data

Gain data-driven insight with a customizable A/R dashboard
Develop realistic budgets by comparing to actuals and achieve better margins
Manage WIP efficiently to make faster, data-backed decisions
Improve forecasting to stay on top of pipeline and create predictable cash flow

Streamline your billing and invoicing process with integrations

Love at first sight?

Real BigTime customers and their initial reactions to our software.

Explore more ways BigTime improves productivity

“Being able to manage the invoicing and send automated reminders has helped tremendously with accuracy… and does help increase our receivables, without the necessary overhead of manually following up.”

Corey Ariss

Hakkoda

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Learn more about Billing and Invoicing software

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Your Ultimate Guide to Project Accounting in Professional Services

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Integrated Payments: How to Accelerate Your Cash Flow

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Streamline How You Invoice for Professional Services: Tips and Best Practices

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BILLING AND INVOICING SOFTWARE

Maximize profits

Improve your time to bill

Get paid faster

Boost profitability with centralized financial data

Streamline your billing and invoicing process with integrations

Love at first sight?

Explore more ways BigTime improves productivity

Resource Planning

Project Management

Analytics

Integrations

Corey Ariss

Learn more about Billing and Invoicing software

Your Ultimate Guide to Project Accounting in Professional Services

Integrated Payments: How to Accelerate Your Cash Flow

Streamline How You Invoice for Professional Services: Tips and Best Practices

Integrating Invoicing, Payments & Accounting