Operating a business and managing a remote team at the same time can be challenging. Several responsibilities come with it, including the excruciating process of generating, processing, and sending out invoices. Unfortunately, the task is indispensable in any business. According to a survey conducted by Ardent Partners, 55% of businesses consider the accounts payable process as ‘exceptionally’ or ‘very’ valuable to the enterprise as a whole.
Why Are Detailed Invoices Essential?
An article posted on EXIM.gov shares that 60% of invoices processed by small to medium-sized enterprises are paid late. This problem stems from various issues generated by invoice processing. E-invoicing Platform reported that companies processing 350,000 invoices a year spend 160,000 man hours per year to resolve these problems. These issues could have been avoided if accurate and detailed invoices are created in the first place.
By using free printable invoice templates, you’ll have an easy and convenient method for creating detailed invoices. Consequently, you will spend less time on that task and focus on more valuable things that will grow your business. Here are some of the best invoice templates you can get for free!
Wave provides a free generic invoice that can help you track your expenses and income. It allows you to create financial statements, generate unlimited invoices, and connect your bank accounts. All these you can do for free. Moreover, it has a feature that lets you track your unpaid invoices. The tool also allows you to manage your businesses by importing your bank and credit card transactions.
While Wave is a good invoice template free for all to use, it does not have a time tracking feature. So, your remote workers will still have to create their timesheets manually for the invoice. Aside from that, it does not have an online chat support which can be crucial if you have emergency concerns.
Another user-friendly business invoice template tool is Invoicely. It has the necessary features that lets you generate professional-looking invoices quickly and conveniently. To make the process easier, you can create a template invoice with your company’s billing details and other vital information. What’s more, it allows you to customize the currency, hourly rate, and other details.
While Invoicely has a free version, it entices you to upgrade to a paid plan. Unfortunately, you cannot perform custom branding in the free printable invoices. Mileage and time tracking features are also quite basic. If you’re after customization, then you might want to consider other bill template tools.
You can also customize the free invoice template PDF files on Square. It allows you to incorporate your brand colors and company logo in the professional-looking invoices you generate. Moreover, if you email your invoice to your customer, Square will monitor its status and let you know if the recipient has viewed the file. Since you’re managing remote workers, you’re handling recurring payments. With Square, you can create automatic monthly payments for them.
Keep in mind that Square does not have a feature for generation A/R reports. You need to go to the dashboard to keep track of unpaid invoices. Moreover, if you’re simply testing the free version of the program, you will be required to submit personal details like your birth date and Social Security number. Square may be a secure program, but requiring you to enter sensitive data just for a sample invoice template can be off-putting.
Jotform’s free invoice template download can make online billing a lot easier for you and your remote team. You don’t have to pay a fee just to create professional-looking, consistent, and accurate invoices. You can access JotForm’s quick customization options via a drag-and-drop feature. What’s more, you can conveniently export your data to a PDF file.
Unfortunately, if you want a tool that offers free invoice template Word download, JotForm is not for you. You may be disappointed with the weak integration of web-based services and Microsoft products. Many users have complained about the inability to directly export invoices to a Word document. As of this writing, the tool only allows users to download invoices in PDF format.
Now, if you’re running a startup and you’re paying remote workers on a project basis, Due may be the ideal invoicing tool for your employees and clients. You can use the program to generate unlimited and customizable invoices. What’s more, it allows you to track the status of every invoice, ensuring that you won’t miss a single payment. On the other hand, if you have recurring payments, you can set the invoice generation to a weekly, monthly, or quarterly basis.
Unfortunately, as with Square, you cannot generate A/R aging reports on Due. On the other hand, you can keep an eye on the dashboard to check any unpaid invoices. This way, you can still ensure that your clients never miss a payment.
It can be challenging to find invoice templates free for use on the Internet. Solna understands this problem, which is why it offers its web-based invoice application for free. You can easily customize the template because there are plenty of empty fields to fill in. If you’re running an online retail ship, you can use Solna for the invoices and add a discount or charge for VAT. What’s more, the tool allows you to quickly change the currency. This way, you can conveniently charge clients in various currencies when necessary.
You can also save and re-use your preferred configurations. This way, you can use certain elements from one of your invoices on the others. For example, if you’re using one invoice setting for multiple clients, you can easily fill in the sections. All the while, you can still enjoy the flexibility that your dynamic invoice template can bring.
On the other hand, you may not like the built-in credit score feature of Solna. Whenever you send invoices to your clients, the tool tracks their credit scores. Some people may feel uncomfortable with this and may consider that they’re giving away too much information.
The Best Option for Free Invoice Templates
Indeed, you can significantly reduce the time you spend creating invoices when you use free templates. However, what if we tell you that we can help you make the process even easier and faster? Well, with Traqq, invoicing won’t ever feel like a chore again.
What’s great about Traqq is it was designed as an easy-to-use time tracking application. So, when you let your remote team members use it, they won’t have to create timesheets manually. Finally, you can save yourself from the frustration you experience whenever you ask for updates regarding your freelancers’ timesheets.
You’ll also love how Traqq monitors the time that each employee spends on set tasks and projects. Moreover, the tool notifies your worker if they forget to turn on the tracker while working. So, they won’t have to worry about unpaid work minutes. If you thought Traqq’s features could not get any better, well, you thought wrong. Because of the simplified stopwatch and monitoring features of this tool, it can generate bills automatically. All you need to do is submit your employee’s payment details and rates once, and you can enjoy automated invoicing moving forward.
Of course, you’re getting more than a free invoicing template from Traqq. This app can also improve your remote team’s productivity. It monitors the amount of time every employee spends on each task, activity, website, or application. So, you can determine the elements that affect the quality of work they produce.
By looking at the examples we shared, you might have realized that traditional invoicing can be inefficient and slow. Gone are the days when you review individual timesheets and calculate their work hours. By choosing the manual invoicing route, you’re not saving time, maximizing revenue, and speeding up payments.
You can dramatically reduce the time you spend on generating invoices by using the templates we shared in this article. However, if you want to kick things several notches higher, then try Traqq. You’ll get a free invoicing and time tracking tool that comes with various fringe benefits.