Late payment of invoices is a major issue in the UK economy with 17% getting paid more that 60 days after providing an invoice, 37% say their payment terms have increased. (Source: Federation of Small Business Q3 2019 Voice of Small Business Index)
What are the issues?
The first issue is simply finding time to create the invoice. Many customers currently use Microsoft Word or Excel which is very time-consuming.
The second issue is knowing what to bill. Monitoring the progress of each job and knowing what materials were purchased for that job is not easily tracked without using the correct technology.
Sending out an Invoice which is later queried by the customer can prove time-consuming to resolve and neither does it impress the customer.
How can Rhino help?
The Rhino Small Business App lets you generate a professional Invoice in seconds using your phone. You may even use the voice function on your iPhone to dictate the content of the Estimate.
With the press of a button, the Invoice Document is created together with your Logo and Business Contact Details. The Invoice Document can be emailed directly to the Customer with a few clicks.
Creating Invoices from an Estimate.
You also have the option to create an Invoice based on an Estimate. Rhino transfers the data from the Estimate into the Invoice where you can save it or even refine the content of the Invoice.
As customers payments are received, you can log them against each Invoice thereby staying in total control of who owes you money and when payments are overdue.
Your Books are automatically Prepared
Many Small Business Owners talk about spending evenings and weekends getting everything ready for their Accountant. By providing your Accountant with access to Rhino, they can automatically browse the Invoices that you created and you will no longer need to ‘prepare’ your books.
VAT & Tax Returns
With a few clicks, Rhino will submit your VAT Return and Self-Assessment Tax Returns.