Invoicing is a crucial aspect for a business owner to manage financial operations. People always prefer to opt for efficient, cost-effective alternatives in today’s landscape. That’s why we came up with an Overview of the best free invoicing software for small businesses. 

The software allows users to manage invoices with much less effort and send them without any hassles. There is no need for extra processes or efforts when you have such software around you. Invoicing software has numerous benefits, enabling one to manage billing and payments effectively. 

So, let’s dive in together and figure out some of the best invoicing software for small businesses. 

Paymo

If you are looking for the best invoicing software with project management and time-tracking features, look no further than Paymo. The software has always strived to be the best management software for small businesses. 

If you are a small business owner or agency, you can generate numerous invoices, estimates, and expenses to manage projects. In addition to managing projects and tasks, you can monitor your time and seamlessly incorporate time entries into your invoices. These invoices can then be customized to your preference, including translation into multiple languages. 

You can also apply taxes or discounts and enjoy the flexibility of receiving payments in 95 different currencies. Furthermore, you can set up to three late fee reminders when an invoice is overdue. This year, Paymo has introduced its online payment gateway, PM Payments, which offers a secure platform for your clients to make direct payments via credit card and ACH. This functionality is available exclusively to clients within the United States. 

Pros and Cons of Paymo

Pros:

• Generate estimates, track time, and convert to invoices effortlessly.
• Automate recurring invoices as per your preferences.
• Utilize project management tools like Gantt charts and resource schedulers.
• Enhance project profitability tracking through invoices and estimates.

Cons:

• Lacks accounting functionalities

Invoice Ninja

Invoice Ninja is one of the best invoicing software out there. It is not just limited to invoicing, but it is focused on PM features like time tracking. With this software, you can send unlimited invoices to 50 clients, create inventory lists, manage projects, and benefit from other general features like billing. 

Moreover, you can ask for payment from 45 different payment gateways. Regarding invoicing, Invoice Ninja provides notifications when clients have reviewed or settled an invoice. Additionally, it presents a client portal secured with a password, enabling clients to access and review their invoices and payment records.

Pros and Cons of Invoice Ninja

Pros:

• Extensive free offering for client coverage.
• Wide range of 45 payment gateways, including Apple Pay and Alipay.
• Secure password-protected client portal.

Cons:

• Limited integrations.
• Subpar user experience.

Hiveage

Hiveage is a powerful software for freelancers whose set up is very straightforward. The team behind Hivage, doesn’t want their users overwhelmed because of the cluttered user interface. This software recognizes the tracking time and estimates at a single place. 

Hiveage boasts a hidden gem: the multi-profile feature. It allows you to manage various companies within a single account. With numerous payment gateways and 30 language options, Hiveage becomes an affordable invoicing tool ideal for controlling multiple ventures.

Pros and Cons of Hiveage

Pros:

• Clean, uncomplicated design.
• Manage multiple companies with one account.
• Supports 30 languages and diverse payment gateways.

Cons:

• Limited accounting functionalities like bookkeeping and bank reconciliation. 

Harvest

Harvest is another popular time-tracking tool with all invoicing functionalities for freelancers and small business owners looking for a non-complicated user interface. 

In the ‘Invoices’ section, the ‘Overview’ tab displays all invoices issued within the current year and the total balance. However, a glitch emerged when marking some invoices as paid – the credit failed to update in the Overview, and the timeline remained unaffected.

Additionally, a valuable ‘Report’ tab provides filtering options based on timeframes, clients, or status. This feature proves handy for generating detailed CSV or Excel breakdowns of your invoices. 

Pros and Cons of Harvest

Pros:

• Recurring invoices and expense attachments.
• Retainers aid in tracking advance payments.
• Online payment acceptance and compatibility with QuickBooks, Xero, and 50+ apps.

Cons:

• Complex accessibility tiers for admins, project managers, and users.
• Limited invoice customization options. 

Zervant

Zervant is another popular invoicing software for European small business owners and freelancers providing products and services to their clients. Once you set up your account, you will be taken through the tutorial, where you will learn everything quickly. 

The account setup process will be done with all the valid documents, such as company details, payment methods, and design. Zervant exudes the seamless functionality of an invoice generator, a core service they provide. With an emphasis on intuitive in-line editing, Zervant mirrors the familiar interface of such tools. Generating a new invoice necessitates manual input of products previously entered in the ‘Products’ section.

Zervant’s invoicing approach centers on products, a feature that contrasts with traditional service-based models. However, adapting web development services to be regarded as products is feasible. Remarkably, invoicing based on time units, like hours, must be more robust.

Due dates aren’t customizable; instead, adherence to specific NET payment terms is expected. While setting owing dates is unavailable, discounts can be applied—whether by value or percentage. Customer information can be drawn from the ‘Customer’ tab, or new customers can be swiftly added. The Free plan limits you to five clients.

Pros and Cons of Zervant

Pros

• Sales dashboard, top customers, and top products views
• Supports multiple trade names/entities
• Offers online payments through Stripe

Cons:

• Unstable interface
• Relatively high cost compared to rival invoicing software

Conclusion

Invoicing software can benefit small businesses in numerous ways to manage their financial operations significantly. These tools offer an essential gateway to streamline processes, enabling efficient invoice creation, client management, and payment processing without cost burden. However, while these solutions cater to budget constraints, weighing the features against your business’s needs is crucial.