Every business needs complete software that can make their tasks easier. But it is difficult to find such complete software. Customized software is preferred that can be changed according to the requirements. A software generally comes with a long list of features that are not required for every business. There are just a few features that are necessary for completing day-to-day work quickly.
The use of billing software has increased. There are very few businesses that are preparing the invoices still manually. With the help of software, work can be done quickly and accuracy is ensured. But it must have certain features that are compatible with your business. Certain generalized features are necessary for every business. Let’s discuss all those must-have features in detail:
Customized invoicing
Invoicing is the basic thing without which a business cannot work. Every business needs to issue an invoice according to their requirements. A billing software must allow the customization of the invoice so that a business could add or delete the details as required. There are many details such as logo, signatures, transport details, e-way bill number, etc. to the invoice. These days GST details, shipping address, billing address, party details, bank details, etc. are some of the important things that need to be mentioned on the bills. But it is not mentioned in standard invoices which is the reason customization of the invoice is required. Logo or signature may be of different sizes for every business that needs to be customized. Moreover, software must be capable of issuing certain necessary documents such as credit notes, debit notes, Purchase orders, sales orders, etc.
GST related features
Today GST compliances are many and every business needs software that will help in fulfilling them. For example, it is compulsory to issue an e-way bill if the invoice limit exceeds. Your software must have an automatic e-way bill generation feature that will save them time and things will be done quickly. Every month a business needs to file returns that become a difficult task without software. If your software has GST returns-related features, you can directly upload the data to the GST portal from the software and there will be fewer chances of errors. Your GST input and output calculations will be done automatically. Moreover, if your work is managed by some expert, you can even send the GST data directly from the software. Your software must be capable of generating GST reports and returns in all formats. It will make the working easy.
You can use TaxAdda Billing Software for generating GST returns with ease.
SMS or WhatsApp integration
These days invoices are emailed to the clients or sent through WhatsApp. Your software must have the feature that will send the invoices directly to their email or WhatsApp numbers. It will save them time and orders can be delivered quickly. The software should also show the history of invoices emailed or sent for future reference. It will help in better customer management and delays can be avoided in sending invoices and receiving deliveries. You can even send reminders for payment through the software directly to their numbers.
Online payments
Your software should allow online payments by creating encrypted codes for each invoice. It will help in matching and reconciliation and automatic payments can be made. The payment reminders can also be sent to the customers from whom payments need to be received. Your software will do all the calculations and you can know within seconds about the pending payments and receivables.
Online backup
Your software must have the feature that will take the backup of the data online automatically. It will keep the data secure and you need not worry about the loss of data. Some businessmen try to save money by buying offline software but losing business data suddenly is like a nightmare. It is better to buy software that works online. This way you can even save your data in two places.
User’s activity
The software must allow multiple users to work on it. It will help in completing the work more quickly as they can work at the same time. No need to wait for another user to finish the task first. Moreover, there should also be security features with which you can allow the software access to the users according to the need. If unnecessary rights are given to all the users, data can be misused. There should be a feature to give definite rights to the different users according to their work. For example, if you are giving access to your CA, you need to activate audit rights. He should not have the right to make any changes. It will keep your data secure even if others are using it. There should be a feature that allows copying the entries. It will help in those businesses where the same type of entries need to be made and data is vast. By clicking on one button, the entry should be copied. It will save time from entering the same data again and again.
Reporting
Your software must generate maximum reports. It will save you time as no need to prepare manual reports and you can have an analysis of your business in detail anytime in different ways. For example, your software must have an outstanding analysis feature through which you can check the payments that are pending for long period.
Stock reporting
Stock in the manufacturing business is of great importance. If it goes negative, the production may hamper. A billing software must have a feature that will warn you when the stock reached reorder level. Sometimes the orders of the raw material need to be made in advance, the reordering level feature will help in making timely orders and the production part can go smoothly. Software should also allow checking stock status anytime. Moreover, stock reporting will also help in checking moving and non-moving items. Stock calculations can also be done automatically by the software if your software allows.
The features are many and they differ according to the business requirements. The above-mentioned are general must-have features that will save you a lot of time.
