Never-ending heaps of admin is enough to dull the spirit of any enthusiastic business owner. If you’re tired of keeping track of scattered documents, forgetting which invoices you’ve sent and haven’t gotten around to, and everything else that stands in the way of getting paid fast, you might want to keep reading!
Digital invoicing is a surefire way to fast-track payments for your business – and iK Invoice can help.
What is Digital Invoicing?
Digital invoicing is the levelled-up version of traditional paper-based invoicing, which has now taken a backseat to the convenience and efficiency of its online counterpart.
So, what’s the difference?
Digital Invoicing:
- Invoices are created and sent using digital platforms like an app or online
- Sales history is recorded online
- Requires no physical paperwork
Traditional Invoicing:
- Invoices are created using an invoice book
- Invoices are printed on paper
- Sales history is most often recorded in a book
What Does a Digital Invoice Look Like?
A digital invoice looks exactly like a paper one would. The only difference is that one is digital and the other, paper.
These components will generate automatically in digital invoices:
Your business’s information: Like a paper invoice, a digital invoice includes your business’s details like the name and contact details.
Invoice number: This is a unique identifier that’s assigned to each invoice, which makes it easy to track and reference.
Date: The date when the invoice is issued.
Payment information: Instructions on how to make payment, like via EFT or a payment link.
Terms and conditions: Any specific terms and conditions related to payment deadlines, late fees, or discounts offered.
And these two components will need to be filled in manually:
Customers’ details: This includes your customers’ name and contact details.
Itemised list: A breakdown of products or services, including descriptions, quantities, unit prices, and totals.
Subtotal, taxes, and total amount: The calculated sum of all the line items, including taxes.
7 Reasons Why Business Owners Love iK Invoice
iK Invoice is our free invoicing tool on the iKhokha App. It’s a game-changer for business owners like you who have much more important things to spend time on than tedious paperwork.
And here are seven reasons why:
1. Time and Cost Savings: Digital invoicing eliminates the need for manual paperwork and printing costs associated with traditional invoicing methods.
2. Faster Processing: Digital invoices are delivered instantly, reducing the time it takes to reach recipients, which means you get paid faster.
3. Reduced Errors: Have you ever written something and then, later on, struggled to understand what you’d actually written? Well, there’s no handwriting needed when you use iK Invoice!
4. Enhanced Tracking and Transparency: Businesses can track the status of their invoices in real-time, knowing exactly when they’re viewed, approved, and paid.
5. Eco-Friendly: An eco-friendly business is always in style! Do your bit for the environment and reduce your paper usage with digital invoicing.
6. Accessibility: Digital invoices can be accessed from anywhere with an internet connection, making it convenient for businesses and recipients, especially in remote or mobile settings. So, even if you’re an on-the-go business, iK Invoice will just tag along with you.
7. Embedded with Payment Links: Did you know each iK Invoice has an embedded payment link? So, customers have a way to pay as soon as they open your invoice. This speeds up the process and makes it much easier for customers to pay.
Keen to learn more about payment links? Check out these 11 Ways that iK Pay Link Can Help Grow Your Business!
Get Started with iK Invoice
Sending your first digital invoice with iK Invoice is as easy as 1,2, 3…
1. Download the iKhokha App
2. Sign into the app.
3. Create and send your first invoice!
If you’re new to iKhokha, simply create a profile and get FICA approved before following the steps above.
Take the Schlep Out of Invoicing
Although the admin regarding invoicing can be a pain, think of it as a task taking you one step closer to getting paid. By embracing digital tools, you’ll be able to save hours, and you’ll most probably be happier, too! We hope you take the plunge or at least give it a try – your business deserves it!
Need help getting set up? Check out our Help Centre!
