How to Find the Best Invoicing Software for Contractors
Are you spending too much time in the trailer shuffling paper and not enough time on the job site?
You’re not the only one…
Unfortunately, it’s all too common for contractors to lose precious hours every week worrying about administrative tasks such as submitting invoices — but it doesn’t have to be that way.
In this guide, we’ll tell you about the best invoicing software for contractors that was specifically designed to automate the entire construction administrative process and get you paid sooner.
Table of Contents
- Flexbase: The Best Invoice App For Contractors
- Construction Billing Software: What Is it?
- 11 Important Construction Invoice Software Capabilities
- #1: Paperwork Automation
- #2: Compliance Automation
- #3: Error Minimization
- #4: Intelligent Payment Reminders
- #5: Legal Notice Delivery
- #6: Customer Collaboration and Communication
- #7: External Software Integration
- #8: Fast Access to Working Capital
- #9: Simple Expense Tracking
- #10: Affordability
- #11: Easy to Use
- The Best Invoicing Software for Contractors Will Have ALL of the Above Capabilities: Enter Flexbase
- How is Flexbase Different From Other Construction Billing Software Programs?
Flexbase: The Best Invoice App For Contractors
Construction invoicing is both a time-consuming and tedious task for contractors.
Invoices must be thorough and not every generic invoice template will cover the individual requirements of each client.
Flexbase has automated the entire paperwork process, from:
- Construction invoices
- Lien waivers
- Stop notices
- Change orders
- And more
Consider us as your all-in-one construction billing software.
Alleviate yourself from the manual administration work that takes you away from the job site, and let Flexbase do the work for you.
We’ve streamlined everything so that you no longer have to worry about…
- Human error
- Missed invoicing deadlines
- Sending reminders; or
- Filing legal documentation
…because our system is designed to do that for you.
Flexbase is the best invoicing software for contractors because it’s free to use.
Eliminate expensive monthly subscriptions that you’re expected to pay even when you don’t get paid.
Flexbase operates on a commission of 0.5% — but, if you don’t get paid, we don’t get paid.
Construction Billing Software: What Is it?
In many cases, construction billing software is a collection of programs that serve various accounting and administrative functions for contractors and construction companies, including:
- Accounts receivable
- Accounts payable
- General ledgers; and
- Some construction-specific functions.
However, many of the original software programs operate exclusively of one another, which can lead to issues with tracking and organization.
Flexbase integrates seamlessly with existing accounting software programs and ERPs so that contractors can manage all of their administrative tasks on one app.
Not only does this eliminate costly errors and miscommunication, but it also ensures total accountability on the project.
11 Important Construction Invoice Software Capabilities
The best invoicing software for contractors will do more than send out monthly invoices. When shopping around, be sure to reference our list of the most important construction invoice software capabilities.
#1: Paperwork Automation
Having all of your paperwork visible and accessible in one contractor invoice app not only reduces the possibility of costly errors, but it eliminates miscommunication on the job site.
Invoicing is one of the most crucial steps to managing your company’s financial health, but creating an accurate invoice is only one step in the process.
Other important paperwork and functions that should also be managed within your construction billing software include:
- Payment applications
- Purchase orders
- Schedule of values
- Receipt tracking
- Change orders
- Stop notices
- Lien waivers
- Payment reminders
- Legal notices
- And more
It’s estimated that small business contractors spend a minimum of 20-40% of their time on administrative functions.
The best invoicing software for contractors will both reduce the headache and hassle of stacks of paperwork and automate the process entirely to ensure prompt payment every time.
#2: Compliance Automation
Subcontractors require insurance that provides protection against liability for workplace injuries and accidents.
A good invoicing software program alerts contractors when COIs are about to expire and will auto-request an updated copy from subs.
#3: Error Minimization
Human error is a reality and oftentimes in the construction business, it’s a costly reality.
- Misplacing receipts
- Forgetting to send an invoice as per the contract
- Not properly documenting job progress or change orders
- Failing to send payment reminders
- Not attaching supporting documentation
- And more
…can result in major delays in payment or even non-payment, which is detrimental to construction cash flow and overall profitability.
Good construction billing software should automatically update your customers on all things payment related and more.
#4: Intelligent Payment Reminders
Having someone dedicated to collections in construction is not uncommon.
But with the right construction invoice software, you can rest assured that payment reminders are being sent automatically, and to all parties listed on the contract.
Sometimes a missing payment is a matter of human error on the other end of the invoice, and a simple and friendly reminder is all that’s required to prompt a payor to send the missing funds.
#5: Legal Notice Delivery
If you’re not getting paid, despite numerous reminders, you may need to deliver a letter of intent to lien or another legal notice.
However, there are usually strict timelines for when these can be delivered to be considered valid, and missing a deadline can render your notice useless.
A good construction billing software will automatically send legal notices as required and on time so that you never have to worry about forfeiting an opportunity to get paid.
#6: Customer Collaboration and Communication
All too often, important communication can get lost in a sea of:
- Text messages; and
- Phone calls.
But, a quality contractor invoicing app will have a communication system built directly into the platform that allows all parties to ask questions and make comments on job statuses or changes.
Having flawless communication flow ensures accountability on the job site.
#7: External Software Integration
Adding a contractor invoice app to your existing arsenal of software should not complicate your flow — it should improve it.
The best invoicing software for contractors will integrate seamlessly with your existing accounting and project management platforms so that you don’t have to keep track of multiple moving parts.
#8: Fast Access to Working Capital
Every contractor needs access to working capital at some point, but with slow payments plaguing the industry, contractors can sometimes go 90-120 days before receiving cash for work completed.
In the past, this would mean gathering all of the necessary paperwork to apply for a construction loan at the bank. This is a time-consuming process that can cause major delays in construction as banks can take weeks to approve loans.
However, with Flexbase, you’ll be automatically pre-approved for funding that you can have deposited into your bank account in as little as 24 hours.
#9: Simple Expense Tracking
Keeping track of physical receipts can not only be annoying and messy, but can also result in lost records and, ultimately, lost profits.
Quality contractor invoice software platforms will have an integrated expense tracking system that allows contractors to immediately take photos of receipts and attach them to ongoing projects within the app.
The last thing any contractor needs is to add to the growing list of items that negatively affect cash flow.
The best invoicing software for contractors should be free to use. Expensive software programs that charge exorbitant monthly subscription fees can be a huge burden for contractors.
Luckily, the Flexbase app is 100% free to use. When you create your profile you’ll instantly have access to every tool within the app with no upfront costs or hidden fees.
With Flexbase, you’ll never have to dip into your cash reserves to pay for software that isn’t doing the job. Flexbase operates on a commission of 0.5% and we don’t get paid unless you do.
#11: Easy to Use
Contractors are busy and often work 6 days a week — especially when construction delays result in a major crunch at the end of a project.
The last thing any contractor needs or wants is to have to deal with a software learning curve when there’s a job to be done.
The best invoicing software for contractors should be intuitive and user-friendly so that contractors can focus on the job at hand.
The Best Invoicing Software for Contractors Will Have ALL of the Above Capabilities: Enter Flexbase
Invoicing errors should never be a problem for your business. You can reduce the hassle and time spent on your invoicing process with a free subscription.
With Flexbase, you’ll be able to:
- Generate invoices and payment applications for every client
- Request payments
- Track projects, materials used, and receipts
- Communicate directly with your clients through our app
- Send late payment reminders
- And more…
Mitigate the risk of human error and cash flow problems by automating your billing procedures with Flexbase.
Some of the many benefits of the Flexbase app include:
- No licenses or subscriptions are required
- Our complete platform is available for use immediately after getting started; and
- You don’t pay unless you receive a payment.
One of the biggest issues facing the construction industry today is cash flow. But, Flexbase can help.
When you create your free account, we use your construction company’s payment data to secure pre-approved financing with one or more of our 85 preferred lenders.
This means no more gathering paperwork, looking for lost or missing documents, and waiting weeks to hear back from the banks.
With Flexbase, you can have working capital deposited to your bank within 24 hours.
How is Flexbase Different From Other Construction Billing Software Programs?
When shopping for the best invoicing software for contractors you’re bound to come across many options, but not all are created equal.
It’s very common for contractors to pay for multiple subscriptions and software platforms to get exactly what they need.
For example, some applications focus on the legal course of action for non-payment, rather than preventing non-payment to begin with.
While others will provide basic invoicing features, they lack the functionality to keep everyone on the job site informed.
Cash flow is a concern among most contractors, so they often find themselves searching for funding from banks or construction lending apps that offer nothing more than high-interest rates and big monthly payments.
Put a stop to the madness with Flexbase. Our app is designed to streamline the invoicing process to ensure contractors get paid sooner. The result? Far fewer cash flow problems.
But, we also know that in the construction industry working capital is needed to…
- Fund materials
- Pay for labor; and
- Initiate any project
…which is why we also automate the construction loans process.
We work with 85 lending institutions to automatically pre-approve our customers so that when funding is needed quickly, Flexbase can deliver within 24 hours.
Forget trying to piece together software platforms to find that perfect solution. Instead, schedule your free demo with Flexbase today.