Paperwork isn’t exactly the most glamorous part of owning a business. But invoicing is essential to making sure you get paid quickly.
Invoicing is the process of creating a document that outlines the details of the sale or service you provided. Basically, it's a bill that a business sends to a customer with information like what was purchased, the amount owed, and when payment is due.
The problem? As your business grows, it may feel like you’re drowning in a sea of paperwork or spending extra time following up on unpaid invoices.
That’s where online invoicing comes in. You can quickly and easily create invoices that look professional and include all the necessary details in minutes. Plus, many programs will even send reminders to customers when payments are due, which can help streamline the payment process and save you time.
To illustrate how online invoicing can work for you, let’s look at Joe Harper, owner of Joe’s Golf Equipment.
Joe opened his golf equipment store in 2019 with a tight budget, two employees, and big plans. In the ensuing years, his business has grown considerably, especially now that he also sells goods online.
It’s no surprise that his trusty invoice book hasn’t been cutting it lately. He’s finding it harder to keep track of the invoices he’s sent, which ones have been paid, and when he received payment. He’s always enjoyed his experience with PayPal, so he decided to look into PayPal Invoicing to simplify his invoicing process.
PayPal Invoicing turned out to be just what Joe was looking for: a fast, intuitive, and accurate tool that made organization a breeze.
For starters, Joe was able to create a personalized, professional-looking digital invoice template quickly and easily with information like:
Joe can also create templates that can be reused for future transactions. For regular clients who frequently place repeat orders, he can copy and reuse existing invoices that carry over both the customer’s information and the items ordered, so he doesn't have to enter them manually.
Once he’s created an invoice, Joe has the option to send it to one person or add more people on the CC line, such as a business partner. Group invoicing — or billing multiple people for a service — is also available. And if he needs to, Joe can add attachments, like terms of service, a document to sign, or an image.
Once PayPal sends the invoice via email, the recipient can simply click the Pay Now button to make a secure payment either through an account with PayPal or a credit or debit card (an account with PayPal isn’t required).
After the customer has paid online, the money shows up in Joe’s PayPal account, usually within minutes. The client can also choose to pay cash or mail a check instead, and Joe can even opt to allow partial payments or a minimum amount. Once paid, the invoice will have a partially paid status until it’s been paid in full.
Keeping track of those funds is easy, too, because PayPal Invoicing lets Joe reconcile his invoices and payments automatically online. If he sees that he’s missing a part of the amount owed by a customer, he can send an email reminder with a single click.
He can also see a detailed history of his invoices, including due dates and a list of reminders he’s sent. And if the customer paid with a check, no problem — he can also use PayPal Invoicing to track payments made offline via cash or check. Joe can even create custom invoices on the go.
Another bonus Joe appreciates is that PayPal Invoicing doesn’t cost an arm and a leg. There are no fees for creating and sending invoices, no setup charges, no monthly fees, and no cancellation charges. Instead, he only pays a fee when he receives a payment online.
Best of all is the time Joe has saved by not having to sort through spreadsheets and files and track his outstanding invoices manually. That means Joe has more time to manage his business, inventory his stock, and work to expand his company.
It’s simple to customize your online invoices. For instance, you can:
Learn more about how to create invoicing solutions that are right for your business. Plus, take your invoicing to the next level with an invoice tracker.
Sending an online invoice is as easy as creating one. Follow these steps to get started:
Visit our Help Center to learn more.
Fast, simple, and secure — there are many pros to online invoicing. Here are some of the most common benefits:
Those are just a few of the advantages when it comes to paper invoicing vs. e-invoicing.
Joe’s story shows how much you stand to gain from implementing PayPal Invoicing in your business. Any business owner will agree that time is money — and the right invoicing service can help save you both.
Sign up with PayPal to simplify your business processes and take back lost time. Plus, create your first online invoice with our free invoice generator template, pay only when you get paid and experience the power of our invoicing solutions.
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