Searching for the best billing and invoicing software for your business?

Save yourself time and stress. We’re here to help you find the right billing and invoicing software solution for your work.

What is billing and invoicing software?

Billing software organizes and automates the billing and invoicing process. This helps ensure timely and consistent collection of payments and reduces errors due to manual data entry. A wide variety of industries employ billing and invoice software, including: - Utilities and telecommunications providers - Architects - Freelancers - Professional firms such as legal or medical services

What 5 key Billing and Invoicing Software features should I look for?

Time tracking

Assign rates based on the project, employee type, or billing cycle. Track billable time, and export timesheets to create client invoices.

Creating invoices

Customize invoices with your company logo, payment terms and conditions, client information, and more.

Sending invoices

Set up one-time or recurring invoices. Some systems will send you a notification when an invoice has been viewed by the recipient.

Online payment

Send payment reminders, and add a late fee to overdue invoices. Accept online payments via credit cards, automatic bank transfers, or payment gateways (e.g., PayPal, Stripe).

Reporting

Generate financial statements and reports, including expense reports, profit and loss statements, payments collection reports, and accounts aging reports.

Compare All Billing and Invoicing Software

Filters

Apply Filters:

X

Your Industry

Your Company Size

Price

Sort by

Recommendations: Sorts listings by the number of recommendations our advisors have made over the past 30 days. Our advisors assess buyers’ needs for free and only recommend products that meet buyers’ needs. Vendors pay Software Advice for these referrals.
Reviews: Sorts listings by the number of user reviews we have published, greatest to least.
Sponsored: Sorts listings by software vendors running active bidding campaigns, from the highest to lowest bid. Vendors who have paid for placement have a ‘Visit Website’ button, whereas unpaid vendors have a ‘Learn More’ button.
Avg Rating: Sorts listings by overall star rating based on user reviews, highest to lowest.
A to Z: Sorts listings by product name from A to Z.
Showing 1 - 20 of 387 products
Filters
Showing 1 - 20 of 387 products

Tipalti

Tipalti is a cloud-based accounting management solution that helps users automate their accounts payable process. It offers a variety of features, including invoice automation, payment remittance, regulatory compliance management,...Read more

4.62 (73 reviews)

4 recommendations

NetSuite

With an integrated system that includes ERP, financials, commerce, inventory management, HR, PSA, supply chain management, CRM and more – NetSuite enables fast-growing businesses across all industries to work more effectively by a...Read more

No reviews yet

21 recommendations

Chargebee

Chargebee is a cloud-based accounting solution for businesses of all sizes across various industries such as telecommunication and media, e-commerce and IoT. The solution is PCI Level 1 certified and offers features such as subscr...Read more

4.31 (45 reviews)

Zoho Invoice

Zoho Invoice is a 100% free cloud-based invoicing solution designed to help small businesses with invoicing, tracking expenses and, accepting online payments.Key features include project billing, time tracking, reporting, customiz...Read more

PandaDoc

PandaDoc is cloud-based document management software that helps users in creating proposals, quotes, human resources documents, contracts and more. The solution is mostly used by sales and marketing teams and company leadership. ...Read more

Bitrix24

Bitrix24 is a client management solution that provides a platform for businesses to organize and track interactions with potential or existing clients and partners. The software allows users to log and manage client interactions, ...Read more

Elorus

Elorus is an online invoicing, time-tracking, billing and expense management platform. At heart, it is the ideal professional solution for every freelancer, small business and creative agency. Since 2014, Elorus has been working h...Read more

4.85 (80 reviews)

Odoo

Odoo Point of Sale (POS) is part of Odoo’s integrated suite of business applications. The module is available both on and offline and provides unified data across stores and has an integrated inventory management function. Od...Read more

Invoice Home

Invoice Home is a billing and invoicing software designed to help small businesses and freelancers create personalized invoices using built-in templates. The platform enables administrators to download and email invoices to custom...Read more

4.69 (13 reviews)

Zoho Subscriptions

Zoho Subscriptions is a cloud-based accounting solution catering to small and medium-sized businesses across various industries such as SaaS startups, gyms, wine clubs and daycare facilities. The solution offers a native mobile ap...Read more

4.49 (79 reviews)

Software pricing tips

Read our Billing & Invoicing Software Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Tridens Monetization

Tridens Monetization enables service providers to quickly launch innovative digital subscription and usage-based services that differentiate against competitors, develop recurring revenues, and deepen customer relationships. ...Read more

4.94 (17 reviews)

Scoro

Scoro is a cloud-based professional services solution for small to midsize companies in advertising, consulting, IT and other industries. The solution provides a control hub that displays pending tasks, account information, key pe...Read more

Sage Intacct

Sage Intacct is a provider of cloud-based financial management and accounting software. Sage Intacct's software solution is suitable for small to midsize accounting firms and can provide financial reporting and operational insight...Read more

4.17 (312 reviews)

17 recommendations

Learn More

MineralTree Invoice-to-Pay

MineralTree’s TotalAP accounts payable automation solution digitizes and automates the entire invoice-to-pay process to make paying your suppliers easy, impactful, and profitable. Our cloud-based accounts payable solution can scal...Read more

4.37 (78 reviews)

3 recommendations

Learn More

ChargeOver

ChargeOver is a cloud-based standalone billing and invoicing solution designed for businesses across all industries. The platform offers functionalities including standard or customized reporting, a self-service customer portal, b...Read more

4.75 (63 reviews)

Learn More

Insly

Insly is a cloud-based accounting solution that is designed for brokers, agents and accounting professionals. Key features include accounting and billing management, debt management and reporting. Insly helps in managing sale...Read more

4.88 (17 reviews)

Learn More

QuickBooks Desktop Pro

QuickBooks Pro helps to automate the billing and invoicing process and work order management from a single reconciliation window. With 'Bank Account Reconciliation' feature, users can link their bank accounts and define workflows ...Read more

Learn More

TallyPrime

TallyPrime provides business functionalities including accounting, finance, inventory, sales, purchase, point-of-sales, manufacturing, job costing, payroll, and branch management. The accounting module enables support tasks such a...Read more

Learn More

Zoho Books

Zoho Books comes with automatic bank feeds, collaborative client portal, accounting and taxing, online payments, invoice templates and analytical reports. The system allows users to manage multiple time sheets of different project...Read more

Learn More

Wave Accounting

Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses...Read more

Learn More

Popular Billing & Invoicing Software Comparisons

Buyers Guide

Last Updated: March 10, 2022

The billing and invoicing software market is highly variable, especially considering the ways different organizations operate their accounting workflow and billing processes. Some organizations use the billable hours model, while others bill by the percentage of project completion. Also, the invoicing and billing process is related to how a company presents its image to clients, so there’s a degree of relationship management involved as well.

But that’s only the beginning of how billing software applications can differ. Other factors that impact a business’s billing and invoicing needs include:

  • Size of the customer base
  • Method of invoice transmission
  • Length of the billing cycle
  • Time frame of processing payment

A wide range of billing and invoicing software tools is available on the market, but it’s not easy to find a billing system that perfectly fits all of these categories. This guide will help you understand the various factors you must consider when shortlisting an invoicing and billing software solution.

Here’s what we’ll cover:

What is billing and invoicing software?

Billing software organizes and automates the billing and invoicing process. It ensures timely collection of payments, tracks multiple invoices, flags any unpaid invoices, and reduces manual data entry errors.

Billing and invoice software is used in various industries including utilities, telecommunications, and professional services firms such as legal and medical billing services.

Due to the range of industries served, most vendors offer customizable systems that can support various business models, pricing structures, and payment types (e.g., ACH payments, recurring payments). Features can also vary significantly based on the organization the software is meant to serve.

For example, it’s common for law firms to bill for the time spent working on a project. A manufacturing company, on the other hand, may charge its clients upon the delivery of goods or tangible items.

If you use time as the main billing measure, look for software that tracks time as your tasks are completed, so you don’t have to guess the total hours your team members have logged against a project. And if you bill clients upon the delivery of products or items, select a software tool that can track the product status as it progresses from the shop floor through shipping.

Creating new billable entries in Bill4Time (Source)

Common features of billing and invoicing software

Different vendors offer different features as part of their billing and invoice software. Selecting software with the right features is easier when you know what the common features are and what they do. Here’s a look at some of them:

Time tracking Assign rates based on the project, employee type, or billing cycle. Track billable time, and export timesheets to create client invoices.
Creating invoices Customize invoices with your company logo, payment terms and conditions, client information, and more.
Sending invoices Set up one-time or recurring invoices. Some systems will send you a notification when an invoice has been viewed by the recipient.
Online payment Send payment reminders, and add a late fee to overdue invoices. Accept online payments via credit cards, automatic bank transfers, or payment gateways (e.g., PayPal, Stripe).
Reporting Generate financial statements and reports, including expense reports, profit and loss statements, payments collection reports, and accounts aging reports.
Third-party integration Integrate your billing software with other software tools such as customer relationship management (CRM) and project management software.

What type of buyer are you?

Before you start evaluating billing and invoicing software options, you'll want to know which buyer category you belong to. Most buyers belong to one of the below categories.

  • Stand-alone system buyers: Some buyers demand a high level of customization and flexibility in their billing solution. These buyers are often focused more on billing than other business processes and may simply need a stand-alone system. With a stand-alone tool, they can focus on their unique billing needs and handle other business processes differently.
  • Integrated system buyers: Some buyers need a billing and invoicing module that’s part of a larger accounting system. These buyers prefer a holistic software experience in which billing and invoicing modules can automatically log collected payments into the accounts receivable portion of the general ledger. These buyers usually value specific billing functionality over integration with other systems.
  • Buyers with unique billing requirements: These buyers have such unique billing processes that they need software tools designed exclusively for their industries or line of business. In the most extreme cases, they need to build their own systems or outsource the software development process to a third party for custom work.

Benefits of billing and invoicing software

While some benefits of billing and invoicing systems may be clear from our discussion above, we've listed the most notable ones in this section.

  • Avoid missed or late payment: By streamlining your billing and invoicing needs with the right software system, you’ll find that it’s much easier to collect payments on time. Keeping your information organized empowers you not to miss or delay a collection, thus staying profitable in the process.
  • Provide a summary of bills and invoices: A billing and invoicing software solution offers a centralized dashboard that shows the real-time status of your bills, invoices, and monthly estimated revenue. Some billing software systems also track when your clients open their invoices, which you can view in real time on the dashboard.
  • Eliminate paperwork: Manual billing and payment processing involves a lot of paperwork. Moving your billing, payment, and invoicing online ensures you don't have to print anything because all documentation is indexed, archived, and stored electronically. This helps your business cut down on paperwork as well as manual efforts.

Key considerations

Listed below are some factors to consider when purchasing a billing and invoicing system.

  • Mobile app availability: Check if the billing and invoicing software you’re planning to purchase offers mobile apps for iOS and Android devices. A mobile app will let you create and send invoices to your clients, even if you’re offline or have limited access to the internet. Data collected offline will sync automatically once internet connectivity is restored.
  • Customer support: Inquire about the type of support provided by your shortlisted vendors: 24/7, 24/5, or only during business hours. Also, verify if they offer your preferred support channels, such as email, phone, or live chat. Support services will help fix any software issues that can lead to delays in receiving payments from clients.

Market trends to understand

Businesses looking to invest in a billing and invoicing system should keep the following market trends in mind as they evaluate solutions:

  • Software-as-a-Service (SaaS)-based billing systems are gaining popularity. SaaS-based billing systems are gaining widespread prominence among businesses due to benefits such as low upfront costs and easy implementation. Consider using a Sa aS solution if these advantages are important to you.
  • The use of artificial intelligence (AI) is expected to increase in billing and invoicing systems. AI technology is expected to play a critical role in the automation of billing and invoicing processes. AI can help identify billing frauds, reduce errors, and automate the billing settlement process. Due to these benefits, the use of AI-based billing and accounting software will continue to grow in future.

Note: The application selected in this article is an example to show a feature in context and isn’t intended as an endorsement or a recommendation. It has been obtained from sources believed to be reliable at the time of publication.