Top 5 Invoicing Softwares for SMEs

an invoice template along side a title: Invoicing Software top 5 ranked

Online invoicing is a necessary tool for businesses looking to get paid on time. Invoices make it easy for you to bill your clients after a service has been rendered or when an order is ready for pickup—and it’s simple for your customers to make a payment.

Invoicing is one of the oldest forms of accepting payments, and in fact, there is evidence that invoices have been around since before the Romans! Apart from being one of the oldest payment methods however, they are also one of the most useful.


-Invoicing For Services

Here’s our top 5 picks of the best online invoicing softwares for small businesses:

1. Helcim (Best for Payment Processing)

Helcim is the best invoicing software out there for payments. The Helcim online invoicing tool generates an invoice template that you can then customize with your business’s logo, address, and the service or product information you need displayed. Though it lacks some extra features like expense tracking and payroll capability, users can integrate their Helcim account with QuickBooks if they need additional functionality. Some of the key features of Helcim invoicing include:

Pricing: $0 per month, average rate of 2.47% + 25 cents per transaction.

Helcim Tutorials | Creating a New Invoice

2. Wave

Wave invoicing is also free to use but carries a higher processing rate than our number one pick. With Wave you’ll pay 2.9% + 30 cents per payment. Some of the key features of this invoicing software are as follows:

  • Accounting and expense tracking
  • Ability to scan receipts
  • Run multiple businesses from one account
  • Payroll for $20/month (Base fee, pay $6 per employee).

Pricing: Starts at $0 per month, 2.9% + 30 cents per transaction.

3. QuickBooks

QuickBooks is an all-in-one invoicing and accounting software for businesses of all shapes and sizes. Plans start at $10 per user/month but you can get 50% off for the first three months. Key features of QuickBooks include:

  • Automatically balances your books for tax purposes
  • Works with Apple Pay
  • Send reminders
  • Track time, mileage, expenses, and income
  • Lets you organize receipts
  • Payroll for $20/month (Base fee. Pay $3 per employee)

Pricing: Starts at $10 per month, 2.9% + 25 cents per transaction.

4. Zoho

Zoho is an all-in-one software solution that’s great for small businesses. Apart from invoicing, inventory, and expenses, Zoho also has workplace collaboration software and customer management tools. Here’s a breakdown of the basics:

  • Free plan for businesses with less than $50,000 in annual revenue.
  • Maximum of 1000 invoices with the free account
  • For $20/month you can get 5000 invoices and custom fields
  • Expense tracking
  • Inventory tracking
  • Integrates with PayPal, Stripe or Square

Pricing: Starts at $0 per month, plus transaction fee (e.g. 2.9% + 30 cents with Stripe).

5. FreshBooks

FreshBooks was made primarily for freelancers and small businesses and the only real downside we could see is that there is a limit to how many clients you can service with their entry level accounts.

  • Track time
  • Send reminders
  • Optional late fees
  • Upfront deposit option
  • Auto tax calculation
  • Gusto integration for payroll

Pricing: Starts at $15 per month, 2.9% + 30 cents per transaction (powered by WePay).

Which One Should You Choose?

Picking the right invoicing software for your business boils down to two things: the features you need and the overall cost. If you just need to invoice clients in a fast and convenient way, our #1 pick is probably the best solution for you (and most cost-effective). 

However, if you’re looking for additional capabilities, you may want to consider integrating with QuickBooks or using it exclusively. 

Finally, if you want to start small and don’t mind paying slightly more in processing fees, we’d recommend Zoho as a software that has the most features, allowing you to add more as your business grows.

Disclaimer: Our rankings are objectively evaluated by cost and functionality and ordered from 1 to 5 in accordance with which software offers the most value for the best price. See our company’s mission statement. 

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