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What is Billing Software?

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It may be that there are as many types of billing software as there are businesses. But there are basic similarities among them all. The point of all billing software is to convey to a client or customer how much money is owed for a product or service. After receipt of the invoice, customers and clients are then expected to pay the amounts owed in a timely manner. When they make their payments, those payments must be accounted for and balanced within company records. If payments are not made when expected, businesses must contact those customers again in order to collect the amount owed, while at the same time maintaining a friendly relationship that allows for doing business together in the future.

There are programs designed with specific businesses in mind, such as medical and dental offices. There are others designed to assist with billing for legal offices or other businesses for which the time of professionals is billed to a certain client. Other businesses send invoices for products or services purchased. And still others assist construction companies with job estimations and material estimates as well as final cost accounting and billing.

In each case the software program is used to keep track of accumulated costs and then invoice the client or customer for those costs. Billing software is often the basis for recordkeeping for accounts receivable and thus is called upon to perform multiple functions. Some functions that can be performed within the parameters of billing software are:

• Time and Attendance
• Project Costing and Estimates
• Supply Expenses
• Overall Expense Tracking
• Insurance Invoicing
• Accounts Receivable
• Client Contact Information, and last, but not least,
• Billing or Invoicing

Next Page: Web Based Billing Software

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