Great news for self-employed users of QuickBooks: According to Intuit, the users will now be able to invoice through QuickBooks’ mobile and web solutions.
QuickBooks said that the need for this function was obvious, citing research from the Freelancers Union that found self-employed professionals are owed an average of $10,000 in unpaid invoices. Also according to the research, self-employed professionals spent an astounding average of over 35 hours working to track down a single missing payment.
Intuit vice president Alex Chriss said in a statement that for self-employed individuals who do not receive regular paychecks, the task of managing cash flow has become a cumbersome challenge and that adding the invoicing function to QuickBooks will help freelancers look more professional as well as give them added insights as to when their customers are viewing and paying their invoices. This functionality also makes it easier for customers to pay electronically.
Thanks to the extension of the invoicing function on mobile, users will be able to generate an invoice with automated formatting and data entry. They will also be able to easily and quickly send a bill to the client and also access a summary view of invoices sent.
The ability to digitally invoice enables freelancers to get paid faster electronically as their clients will be able to make payments via credit card or a check as soon as they get an invoice.
Additionally, QuickBooks users can expect even more robust capabilities with its invoicing tools for freelancers in the near future. Currently being called SmartInvoice, the newest solution will provide quick visible access on the status of any invoice generated.
If you need any assistance with the mechanics of using and creating the new invoicing function, give Fusion CPA a call and we’ll be happy to take a look at what you have.
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