Best Invoicing & Billing Software In 2023 [Industry-wise]

Billing software are like snowflakes – no two are exactly the same! It’s crucial for businesses to have a billing system that’s custom-tailored to their unique needs.

After all, a one-size-fits-all approach simply won’t cut it in today’s diverse business landscape.

In this article, we will explore the unique billing requirements of different businesses and recommend billing software that can address those needs.

But before we get lost in the world of invoicing and billing software, let’s see why exactly different businesses need different billing software.

Why Do Different Businesses Require Different Billing Software?

1. Payment Methods

Different businesses accept different forms of payment. Retail shops and restaurants may accept credit cards, cash, and checks, while online retailers may accept credit cards, digital wallets, and cryptocurrencies.

Hotels may require deposits to secure reservations and accept various payment methods. Healthcare clinics accept payments from insurance providers, government programs, and patients themselves.

A suitable billing system must integrate with multiple payment gateways and offer reliable and secure payment processing.

Also Read: How to collect payment faster?

Restaurants have complex menus, and supermarkets have a vast inventory of products with varying pricing tiers.

A restaurant billing system must handle add-ons, substitutions, and special requests, while a supermarket billing system should handle discounts and promotions for specific products or groups of products.

A bar or nightclub billing system must calculate different drink prices based on size, type, and mix-ins and track inventory levels in real time.

3. Inventory Management

A retail shop may require a billing system that tracks inventory levels and generates purchase orders when stock runs low.

A distributor may need a billing system that handles multiple warehouses or shipping locations and tracks the status of each order.

A manufacturing company may require a billing system that manages inventory levels for raw materials, work-in-progress goods, and finished products in order to optimize production.

Rental businesses require a billing system that tracks inventory availability and manages reservations for different types of equipment.

4. Customer Data

Professional services firms such as law or accounting firms may require a billing system that handles complex billing arrangements such as hourly rates, flat fees, or contingency fees.

An e-commerce business may require a billing system that manages customer data across multiple channels and touchpoints, including websites, social media, and mobile apps.

The system should personalize customer experiences, track customer behavior and preferences, and manage loyalty programs and customer rewards program.

5. Reporting

Nonprofit organizations may require a billing system that generates detailed reports on donations, grants, and fundraising events; tracks donor information, and calculates gift amounts and tax receipts.

Financial services companies may require a billing system that manages complex fee structures and generates detailed reports on revenue, expenses, and profitability across different products and business lines.

6. Shipping & Handling

A business that sells physical products online or through mail orders requires a billing system that calculates shipping costs and handling fees based on weight, destination, and delivery speed.

This system should generate shipping labels and track packages to ensure timely delivery.

7. Subscription & Contract Management

A software-as-a-service (SaaS) company requires a billing system that manages subscriptions and recurring payments.

The system should handle various billing frequencies, such as monthly or annual, and send reminders and notifications for upcoming payments or expirations.

Businesses that work on long-term projects or provide ongoing services require a billing system that manages contracts and retainers.

The system should track payments against specific contracts, generate invoices for each contract, and provide reports on contract status and profitability.

Also Read: Creating and sending invoices to clients

8. Service Charges

Businesses that provide services, such as law firms or consulting agencies, require billing systems that handle hourly billing rates and track time spent on each client.

The system should generate invoices that itemize services rendered and expenses incurred.

9. Tax Compliance

Businesses that operate in multiple jurisdictions require a billing system that calculates and applies the appropriate taxes and fees for each transaction.

The system should generate tax reports and comply with local tax laws and regulations.

Also Read: Invoicing tips for e-commerce business

10. Payment Processing

Businesses that operate online require a billing system that integrates with various payment gateways and handles international payments in different currencies. The system should also detect and prevent fraudulent transactions.

Now that we have understood why your business might require a billing system that is tailored to your needs, let’s evaluate top billing solutions for different businesses.

Learn more : Best Invoicing Software

Best Invoicing & Billing Software For Restaurants

1. Urban Piper

Urban Piper is an end-to-end, web-based POS that helps you manage your entire restaurant operations whether they are online & in-store.

Major features

Billing & KOT
Integrated KDS
Inventory & Menu Management
Integrations to delivery systems
Reporting & Analytics

2. Petpooja

Petpooja is a comprehensive system for restaurant management that provides billing, inventory, menu, CRM, and online ordering solutions.

Major features

Kitchen-wise KOT printing
Online order management
Customizable bill format
Multi-terminal billing
Offline architecture
Raw material management
Purchase order management
Integrations with payment, loyalty, accounting, delivery, and other software

3. Marg

Marg is another evergreen billing software for restaurants that also comes with a free POS system.

Major features:

Table creation & table transfer
KDS & KOT system
Inventory & expiry management
Waiter wise reports
Loyalty program management
Smart purchase & reordering system

Check out our complete analysis of the best billing software for restaurants >

Best Invoicing & Billing Software For Hotels

1. Cloudbeds

Cloudbeds is an easy-to-use hotel management suite that offers hoteliers and hosts a centralized solution to help run their property simply and effectively.

Major features:

Pricing intelligence engine
Payment processing system
Revenue management
Built-in booking engine
Cash drawer to track & manage cash flow
Manage house-keeping
Integration with other accounting software

2. Nimble Property

Nimble Property is a simplified hotel accounting software that is easy to use and affordable.

Major features:

Multi property management
Auto bank reconciliation
Budgeting & forecasting
1099 payment tracking
Track Occupancies, RevPAR, ADRs, and other KPIs
Door lock system

3. Hotelier Books

Hotelier Books is a cloud-based accounting and bookkeeping software for small-scale hotels.

Major Features:

Dashboard to track KPIs
Budget forecasting
Daily sales automation
Track & manage payables & receivables

Best Invoicing & Billing Software For Retailers, Distributors, And Supermarkets

1. Vasy ERP

VasyERP has a wide range of retail-specific solutions for retailers and supermarkets whether they have a single outlet or a large retail chain.

Major Features:

Auto purchase management
Smart POS
Multiple billing counters
Loyalty, discounts, and membership support
E-commerce integration
Stock transfers
Delivery integrations
Smart kart & self kiosk
Warehouse management

2. Marg

Marg is a comprehensive software solution for retailers to manage billing, accounting, and inventory in one place.

Major features

Billing with quick searches, shortcuts, and barcodes
Touch screen POS
Cash drawers
Design, print, and scan barcodes
Manage inventory & expenses
Rack management
Manage discounts, schemes, and loyalty programs

3. Brightpearl

Brightpearl is an all-in-one retail operating software that helps you manage everything from inventory to accounting and fulfillment.

Major features

Real-time P&L and balance sheet
Multi-currency support
Amazon FBA reports
Inventory management
Warehouse management
Shipping & fulfillment
E-commerce integrations & reporting

Looking for a more comprehensive analysis? Check out Best Billing Software For Retail Shops & Distributors>

Have a travel agency? take a look at best billing & accounting software for travel agencies >

Best Invoicing & Billing Software For Freelancers, Agencies, And Small Businesses

Freelancers, agencies, and small businesses normally have limited budgets, less technical knowledge, and simpler requirements.

This requires billing software that is simple, easy to use, and affordable. Let’s take a look at some of the best software that meets these needs.

Also Read: Factors to consider while selecting an invoicing software

1. Refrens

Refrens is an all-in-one business operating system for freelancers, agencies, and small businesses. It currently serves 150k+ users across 178 countries around the world.