Franchise businesses come with their own unique set of challenges, particularly when it comes to billing and payment processing.
Keeping track of the numerous payments coming in from customers can get complicated quickly without the right software in place.
That’s why having reliable franchise billing software is so important for business owners.
The right franchise billing software can help simplify the billing process and make it easier for franchise owners to track payments, manage invoices, and more.
To help you find the best software for your needs, we’ve compiled a list of the ten best franchise billing software options on the market today. Read on to find out which one might be the perfect fit for you.
What Is Franchise Billing Software?
Franchise billing software is designed to help franchisees manage their billing and financial tasks efficiently.
The software helps automate several processes, including creating invoices, tracking payments, reconciling accounts, and more.
It simplifies and streamlines billing and financial operations, making it easier for franchise owners to stay on top of their finances.
Franchise billing software offers many advanced features that help businesses save time and money.
For example, some software solutions offer automated payment reminders, which help ensure that customers pay on time.
Other features include detailed reporting capabilities, setting up recurring payments, and managing multiple franchises from one central location.
Some franchise billing systems also help streamline other aspects of a franchise’s operations, such as inventory and customer relationship management.
By using billing software, franchises can keep better track of their stock and inventory while creating better customer relationships.
This helps ensure that customers are satisfied with their purchases and that the franchise runs smoothly.
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Types Of Franchise Billing Software
Franchise billing software comes in various forms, each providing unique benefits to the franchisee.
Here are a few common types of franchise billing software:
1. Accounting Software
As the name implies, accounting software helps franchises track and manage their finances. It can be used to reconcile accounts, create invoices, generate financial reports, and much more.
2. Contract Management Software
With contract management software, franchisees can manage their contracts and other essential documents, including application forms and agreements.
This type of software also helps with compliance and legal issues, such as filing and tracking contracts.
3. Payment Processing Software
Payment processing software helps franchisees streamline their payment processes.
It can be used to process customer payments, track payments, and handle related tasks such as refunds and cancellations.
4. Subscription Management Software
For franchises that offer subscription-based services, subscription management software can help manage payments and customer accounts.
It can set up recurring payments, track subscriptions, offer discounts and promotions, and more.
5. Customer Relationship Management (CRM) Software
Although not specifically designed for billing, CRM software can help franchises manage customer relationships.
It enables franchisees to better understand their customers and offers features such as contact management, sales automation, and lead scoring.
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10 Best Franchise Billing Software
Now that you understand the types of franchise billing software available let’s take a look at the ten best franchise billing software solutions.
1. Square Invoices
Square Invoices is one of the most versatile and powerful billing solutions for franchises.
It offers a free or low-cost plan for in-person and online invoicing. With an unlimited number of invoices, franchisees can quickly create and send out bills to their customers.
Paid users can add custom fields to invoices and set up milestone-based invoices for long projects. This ensures that each customer is billed accurately and on time.
Square Invoices also seamlessly integrates with other Square products, so product-based businesses can use inventory management with invoices.
Similarly, online, brick-and-mortar or mobile stores can use Square’s point-of-sale (POS) options. The interface is straightforward to navigate, and even novice users should be able to manage it easily.
With Square Invoices, franchisees can streamline their billing process and ensure that customers are always satisfied with their purchases. This makes Square Invoices one of the best billing solutions for franchises.
Features:
- Create and send invoices seamlessly
- Customize invoices to suit your business needs
- Integrates with other Square products, including inventory and POS
- Payment tracking and reconciliation tools
- Set up milestone-based invoicing for long projects
Pricing:
- Free: $0/month
- Plus: $20/month
- Processing Rates: Online: 2.9% + 30¢; In-Person: 2.6% + 10¢; Bank: 1%; Over Phone: 3.5% + 15¢
2. FreshBooks
FreshBooks is an all-encompassing invoicing solution that simplifies the process of creating, distributing, and monitoring invoices for clients.
Unlike most billing systems that have a multi-step process, FreshBooks allows you to generate a new invoice effortlessly on a single screen.
Its intuitive customization options enable you to develop a distinct, branded design that keeps your business front and center.
In addition to its core features, FreshBooks is renowned for its seamless integration with numerous third-party apps, enhancing its utility for various business needs.
Its built-in time tracking tool is particularly useful for businesses that bill clients based on hours worked, ensuring accurate invoicing and preventing disputes.
FreshBooks streamlines invoice dispatch and payment collection with just a click.
It enables automation for recurring services, sparing you the need to manually create invoices each month.
Moreover, clients can conveniently pay their invoices directly from the document, expediting the payment process and reducing overdue accounts.
Features:
- Send unlimited customized invoices
- See when clients view and pay invoices
- Track time, expenses, and taxes
- Set up recurring payments for regular services
- Integration with third-party apps
Pricing:
- Lite: $8.5/month
- Plus: $15/month
- Premium: $27.5/month
3. Xero
Xero delivers an all-encompassing solution, catering to businesses of all sizes and types.
Not only does it automate and streamline the billing process, but it also simplifies accounts receivable management, tracks payments, and centralizes everything in one easy-to-navigate platform.
One of the notable features of Xero is its analytics capabilities. This allows users to monitor their cash flow, tracking both income and expenses, which can help inform better business decisions.
With Xero, you can have confidence in your financial management, knowing that your bills are paid on time and that you are always up to date on your invoices.
Xero also integrates with over 1000 third-party apps, providing flexibility and customization to adapt the software to your specific business needs.
The platform has a user-friendly interface, and its mobile app allows for convenient management of financial tasks on the go.
Overall, Xero can be an excellent choice for businesses looking to improve their billing and financial management processes.
Features:
- Create custom-designed professional invoices
- Set up recurring invoices
- Integration with third-party apps
- Track income and expenses
- Analytics capabilities for better financial management
Pricing:
- Early: $13/month
- Growing: $37/month
- Established: $70/month
4. Zoho Books
For small and medium-sized businesses, Zoho Books offers a comprehensive invoicing solution that simplifies the billing process and helps keep finances in check.
This powerful software enables businesses to track their expenses, manage inventory, and generate invoices.
Zoho Books’ user-friendly interface makes it easy for non-accountants to use it.
The software features a clean and intuitive dashboard, allowing businesses to keep track of their financial performance and critical metrics.
Additionally, users can generate professional-looking reports in just a few clicks, giving them a comprehensive view of their finances.
What sets Zoho Books apart is its integrated suite of accounting tools, which can come in handy for businesses with multiple aspects of their financial operations.
It also integrates with hundreds of third-party apps, allowing users to customize the software according to their specific needs.
Whether you are an individual or a small business, Zoho Books is an excellent choice for simple and efficient billing.
Features:
- Create customized invoices
- Track expenses, inventory, and cash flow
- Generate professional reports like Balance Sheets, Cash Flow Statements, and P&L
- Inventory tracking for businesses with multiple products
- Integration with third-party apps
Pricing:
- Free: $0/month
- Standard: $10/organization/month
- Professional: $20/organization/month
- Premium: $30/organization/month
- Elite: $100/organization/month
- Ultimate: $200/organization/month
5. QuickBooks
QuickBooks is a comprehensive accounting software widely used by businesses of all sizes to manage their financial records.
It is a user-friendly and efficient tool that offers a variety of features to streamline financial tasks and improve accuracy.
One of the key benefits of QuickBooks is its simplicity. The user interface is intuitive and easy to navigate, making it accessible even to those without a background in accounting.
This means that business owners can spend less time managing their finances and more time focusing on growing their business.
In addition, QuickBooks integrates seamlessly with other accounting tools, such as payroll and inventory management software, to provide a complete financial management solution.
This allows businesses to consolidate their financial data and streamline their accounting processes.
Security is one of the most important aspects of any financial management software, and QuickBooks delivers in this regard.
It employs multiple security mechanisms to protect user information and ensure the confidentiality of financial records.
Features:
- Manage inventory and invoices
- Integration with third-party apps
- Payroll processing
- Bank reconciliation
- Track expenses, profits, and sales
Pricing:
- Simple Start: $17/month
- Essentials: $26/month
- Plus: $36/month
6. PaymentEvolution
PaymentEvolution is a reliable and efficient payment processing software that offers a streamlined solution for billing and payment management.
With PaymentEvolution, users can easily create, share, and manage invoices, making the payment acceptance process hassle-free.
The software helps users maintain a record of all payments made and received, keeping billing and payment tracking simple and secure.
PaymentEvolution is equipped with a range of capabilities, such as integrations with popular accounting software, payment gateway connectors, and secure payment solutions.
These features ensure that users can easily generate invoices, collect payments, and manage their customers’ payments without any complications.
One of the standout features of PaymentEvolution is its versatility, as it can be easily customized to suit the specific needs of different businesses.
For instance, users can customize invoices according to their brand’s aesthetic and even send automated payment reminders to ensure timely payment collection.
Features:
- Secure payment gateway integrations
- Generate invoices and track payments
- Automated payment reminders
- Customizable invoices
- Multi-currency payment acceptance
Pricing:
- Growth: $0/month
- Business Basic: $2.5/employee/run
- Business Plus: $2.0/employee/run
7. Sage 50cloud Accounting
SMBs will love Sage 50cloud Accounting, a cloud-based accounting software developed by Sage, a leading provider of business management software and services to small businesses.
With over 40 years in the industry, Sage has been helping SMBs streamline their financial operations since 1981.
Released in 2016, Sage 50cloud Accounting combines the familiarity of a desktop-based product with the anywhere, anytime access of cloud-based computing.
It provides SMBs with a comprehensive set of tools to help them better manage their finances and more effectively run their businesses.
Sage 50cloud Accounting includes features such as invoice creation and tracking, bank reconciliation, budgeting and forecasting, payroll management, accounts payable and receivable solutions, and inventory management.
Additionally, the software integrates with Microsoft 365, making it easier for SMBs to collaborate and access data anytime and anywhere.
The software comes with a long list of features and a packed user interface, which may initially feel overwhelming.
However, with a bit of time and effort put into understanding it, businesses can quickly get the hang of it.
Features:
- Invoicing and tracking
- Bank reconciliation
- Budgeting and forecasting
- Payroll management
- Inventory management
Pricing:
- Pro Accounting: $45.74/user/month
- Premium Accounting: $73.60/user/month
- Quantum Accounting: $121.94/user/month
8. KashFlow
KashFlow is a comprehensive cloud-based solution that offers small businesses and start-ups an all-encompassing method to manage their accounting and finances.
Its cloud-based nature ensures that users can access it from any device with an active internet connection, making it easy to monitor all financial information in one place.
What sets KashFlow apart is its ability to offer a wide range of tools and customization options, which makes it an excellent solution for maintaining an orderly system.
It offers features like cash flow management, budgeting, bookkeeping, billing, and customer relationship management to small businesses, so they can focus on their core operations without worrying about finances.
KashFlow also offers several advanced features, such as an integrated mobile app KashFlow Go and an e-commerce platform with payment gateway integrations so that users can manage their finances on the go.
Lastly, its integration with WorldPay, GoCardless, and PayPal allows users to securely accept payments from customers.
Features:
- Cash flow management
- Budgeting and bookkeeping
- Billing and invoicing
- Customer relationship management
- Integrated mobile app
Pricing:
- Starter: £10.50/month + VAT
- Business: £22/month + VAT
- Business + Payroll: £29/month + VAT
9. Acumatica
Acumatica is a Software-as-a-Service (SaaS) application that provides SMBs with an enterprise-grade ERP solution.
It’s one of the most popular ERP solutions, particularly among smaller businesses, and it offers all the tools and resources required to manage, control, and optimize a business’s finances.
With Acumatica’s integrated financial management module, users can easily manage their financial records and accounts, allowing them to keep track of their finances seamlessly.
Moreover, the platform offers analytics tools that provide users with valuable insights into their operations and performance, helping them to make informed decisions.
Acumatica’s reporting capabilities are also powerful, allowing users to monitor their financial success and better understand how their business is performing overall.
The software’s flexible deployment options enable users to deploy it on-premises, in the cloud, or in both locations simultaneously.
This gives them the freedom to choose the deployment method that suits their needs best.
Overall, despite not being an exclusively accounting-focused solution, Acumatica provides SMBs with a powerful suite of financial management tools that can help them make better decisions and remain financially efficient.
Features:
- Financial reporting and analytics
- Accounts payable and receivable
- Payroll management
- Asset management
- Project accounting
Pricing:
- Depends on resource consumption
10. BQE Core
Last but not least, there’s BQE Core — an all-in-one franchise billing software that is ideal for small businesses and larger enterprises alike.
It includes all the essential tools you need to manage your finances, including invoicing, expense tracking, project management (PM), and accounting modules. Plus, it’s built modularly, so you can only purchase the features you require.
For starters, BQE Core offers time and expense tracking capabilities that help record accurate data about time spent on projects and their associated costs.
Additionally, its invoicing system allows users to create and send professional-looking invoices quickly and securely.
Furthermore, the software’s accounts receivable feature helps keep track of payments due from customers — making sure that no payment is delayed or forgotten.
BQE Core also provides financial reports such as profit and loss statements, cash flow statements, balance sheets, and more that help you get an accurate view of your financial performance over time.
To sum it up, BQE Core is an ideal choice for small businesses or large companies to efficiently manage their finances — from invoicing to expense tracking to accounts receivable and beyond.
Features:
- Time and expense tracking
- Invoicing
- Accounts receivable
- Financial reports
- Project management (PM) module
Pricing:
- Custom
Comparison Of Top 10 Franchise Billing Software
| FreshBooks | 2003 | Available | $8.5/month | 4.5 | Toronto, Canada |
| Xero | 2006 | Available | $13/month | 4.4 | Wellington, NZ |
| Zoho Books | 2005 | Available | $10/organization/month | 4.4 | Chennai, India |
| QuickBooks | 1983 | Available | $17/month | 4.3 | Mountain View, CA |
| PaymentEvolution | 2010 | Available | $2.0/employee/run | 4.2 | Toronto, Canada |
| Sage 50cloud | 2016 | Available | $45.74/month | 3.8 | Atlanta, GA |
| KashFlow | 2005 | Available | £10.50/month | 4.2 | London, UK |
| Acumatica | 2008 | Available | Depends on resource consumption | 4.5 | Bellevue, WA |
| BQE Core | 1995 | Demo available | Custom | 4.5 | Torrance, CA |
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Wrapping Up
Accounting software helps you measure and manage your finances in a much more efficient way than manual methods do.
From invoicing to accounts receivable to financial reporting and beyond, the ten solutions discussed above provide businesses with the necessary tools to streamline their financial operations and remain financially efficient.
Ultimately, the best accounting software for you will depend on the size of your business and its specific needs.
Frequently Asked Questions
Why Do I Need a Billing Software for My Franchise?
Billing software for franchises is a must-have if you want to accurately track and manage your financial records.
It helps you track expenses, invoice customers, and gain insightful information about your business’s performance.
Most importantly, it allows you to closely monitor your finances from one central place.
What Are The Main Features of Franchise Billing Software?
The main features of franchise billing software include time and expense tracking, invoicing, accounts receivable, financial reports, and project management.
These features help you keep an accurate record of your finances so you can make informed decisions about your business.
What Are The Benefits of Having a Franchise Billing Software?
Having franchise billing software offers many advantages, such as improved financial efficiency, better decision-making capabilities, and increased customer satisfaction.
Furthermore, it helps you stay organized and ensures your finances are in check. All in all, it’s an invaluable tool for franchise owners and managers alike.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.