3 Top Invoicing Tools (Free & Paid) for Hong Kong
Invoicing is the process of making a formal request for payment from customers. Once the goods have been delivered or services have been performed for the customer, then payment is requested. In order to facilitate customers, the entire process needs to be quick and as efficient as possible to encourage the customer to make timely payments.
We have prepared a list of our most commonly used invoicing tools for Hong Kong.
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Invoicing with Invoice Software
Invoicing software can be thought of as tool which is designed to facilitate businesses in creating and sending invoices to their customers. Using invoicing software automates the invoicing process. This is done by integrating different functional modules such as a customer database, product or services module, and the overall organization of the invoicing process.
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PROS
- Invoice Delivery by Email
- Easy to Manage Invoices, Customers and Products / Services
- Payment Reminders
- Statistics
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CONS
- Requires the Internet Connection
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PRICE
- HK$78.00 / Month
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Invoicing in Excel or Word
Invoicing in Excel means that an Excel invoice template is used to create an invoice. This process is a manual method of invoice management and allows the users to save a considerable portion of their time. Similarly, a Word invoice means that a Word invoice template is used to generate an invoice.
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PROS
- Easy to Start
- Eco-Friendly
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CONS
- Hard to Maintain and Manage
- Time-Consuming
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PRICE
- Requires Microsoft Office Subscription or License
Download a free invoice template for Hong Kong, modify and deliver it to your customer:
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PDF Invoice Generator
PDF invoice generator is a single-function online invoicing tool designed to create invoices in PDF format. It makes the overall invoicing process efficient, convenient, easily accessible, highly accurate as well as professional. An added bonus of using invoice generator is that it is a completely free tool.
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PROS
- PDF Invoices
- Easy
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CONS
- Time-Consuming
- Hard to Maintain and Manage
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PRICE
- Free
PDF Invoice Generator for Hong Kong-
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How does Invoicing Work in Hong Kong
Issuing an invoice can be done in the following simple steps:
Choose invoicing tool
In the invoicing process, the first step is to choose the appropriate invoicing tool for your business. For instance, you can select to create an invoice using an invoicing software, a PDF invoice generator, using Excel or Word invoice templates.
Create invoice
Create an invoice by filling out all the vital details that are required on the invoice such as product, price and quantity. It is standard practice to double check all these details to ensure that there are no errors or irregularities.
Deliver the invoice to your customer
Ensure that you send the invoice to your customer’s correct email or billing address. It may seem obvious to double check your customer’s details but it is good practice to do so. This attention to details will save you from any accidental situations which could lead to a breach of confidentiality.
Send invoice copy to your accountant
Sending a copy of invoices to your accountant is a necessary step in your invoicing processing system. This is because your accountant needs to process these invoices in order to calculate any tax owing to the tax authorities. By doing this on a regular basis, you can avoid any tax problems, which is the last thing that you need to worry about as a business owner.
Track received payments
Stay on top of your invoices that you send and also, your received payments. By keeping up to date and tracking all your received payments, you will have a solid idea of your current cash flow situation which is crucial to running your business.
Archive the invoice
Archiving the invoice is a necessary step to be compliant with the laws. Invoices can be stored in digital or paper form.