Invoice management - reinvented

Invoice management refers to the process of organizing, processing and storing both incoming and outgoing invoices within a company.

1. Invoice management involves collecting invoice data, reviewing and approving invoices, preparing and executing payments, and archiving documents for accounting and compliance purposes.
2. The management of outgoing invoices encompasses proper invoicing, tracking invoice status, and sending payment reminders when needed. As part of preparatory accounting, incoming transactions are matched to their corresponding invoices.

The aim of invoice management is to increase efficiency in financial management, minimize errors and fraud risks, meet payment deadlines, avoid penalties, and maintain a clear overview of company financial obligations.

As digitalization advances, companies are adopting automated invoice processing systems that streamline and accelerate operations through digital capture, workflow optimization, and real-time reporting.

At Qonto, our digital solution for automated invoice management integrates directly with your business account. Using OCR technology, the system automatically captures invoice data and prepares payments. You can define custom workflows and responsibilities, such as payment approval processes. The system also automatically matches incoming payments to their corresponding invoices.

As mandatory e-invoicing comes to the B2B sector, Qonto is ready with a comprehensive e-invoicing program that enables the processing and archiving of e-invoices.

Invoicing software costs can vary greatly, depending on the range of functions, provider and usage model you’re using. They range from free basic versions to extensive packages that can cost hundreds of euros per month.

Many providers work with a subscription model where prices vary depending on the number of users, invoices, and additional features such as automated accounting or advanced reporting functions.

At Qonto, invoice creation software and supplier invoice management are integrated directly into the business account. This means there are no additional costs for using Qonto’s core invoicing tools. Users only pay the regular fees for their business account.

Qonto’s invoicing software is available in all Qonto plans starting with the Smart Plan. The other Qonto plans, with the exception of the Basic Plan, also include the invoicing program as well as a number of free transactions, at least one Mastercard card and many other accounting and financial services. In this way, users benefit from other useful tools for their financial management in addition to the classic banking services.

Discover Qonto plans

Qonto offers you an innovative and automated solution for both quote and invoice creation, as well as for the management of supplier invoices, which is tailored to both the needs of self-employed people and small- to medium-sized companies.

Here are some of the key benefits at a glance:

• Qonto's invoicing software is integrated directly into your business account, allowing you to store and manage everything in one place. There are no additional costs involved for the core invoicing features.
• Thanks to smart accounting tools, you can prepare your taxes in the smoothest way possible.
• Seamless integrations and DATEV interfaces enable smooth export to your accounting tool and ensure optimal collaboration with your accountants.
• SMEs can also define workflows, approval processes, and responsibilities to optimize processes, avoid errors, and save time in invoice management and auditing.
• The accounting program is user-friendly and intuitive - no need for a long period of getting used to it.
• OCR technology reduces manual input. This helps avoid errors and saves time.
• Central storage of invoices guarantees clarity: you can see invoice status at a glance as well as access, filter, and understand the documents at any time. They are also protected against loss by GoBD-compliant archiving.

Qonto's invoicing solution includes the following features, among others:

• Create your quotes and invoices  directly in Qonto, set up practical features such as automatic invoice numbering and filter invoices by category and customer. Once a quote has been accepted, you can turn it into an invoice with one click. You also have the option of creating a file for each customer and entering their address. The data is saved and you do not have to enter it manually again for future invoices. The automatic allocation of payments and transactions helps with invoice reconciliation and preparatory accounting.
• Easily collect and manage incoming invoices.
• Automatically forward your invoices received by email to your dedicated Qonto email address.
• Import or drag and drop all your invoices into your account at once.
• Have your invoices automatically imported from your Google Drive or Dropbox folder. Your digitized invoices are then stored centrally and in accordance with GoBD so that you can access them anytime. Track the status of your invoices in your dashboard overview - whether "Received," "Planned," or "Paid" - and filter according to your categories. Using OCR technology, the system reads invoices and records relevant data for automated payment preparation.
• Let managers pay invoices if you want  - you can authorize payments with one click. Payments can be made with real-time transfers, for which Qonto charges no additional fees, or with SWIFT transfers in foreign currencies. You can also schedule your payments in advance for the due date or a date of your choice.

Good to know: If you run a company, regardless of size, you're required to keep invoices for 10 years. Digitally stored invoices save space, costs, and time in organization because they're archived in one place and sorted chronologically. Filing cabinets filled with folders should by now really be a thing of the past. With modern solutions, you can access your digitized documents whenever and wherever you want.

When invoicing your customers, it is essential to include all mandatory details and other relevant information are included, such as:

• Name and address of contractor and client
• Tax number or VAT identification number
• Date of invoice issue
• Sequential invoice number
• Description of services and products
• The service period
• Price, payment terms, and payment deadline
• VAT, tax rate, or tax exemption
• Reductions such as discounts, rebates, credits, or offsetting.

To help you with invoicing, we offer an integrated invoicing software. We have also created a free invoice template for small businesses that you can download.

Yes! To give your invoices a distinctive look and a personalized design, you can upload your logo in JPEG or PNG format to your Qonto business account. It will then be saved and automatically added to each invoice. Of course, you can also delete your logo at any time in the settings and replace it with a new one.

To create invoices for free, Qonto got a practical solution for you. As a Qonto customer, you can benefit from invoicing tools integrated directly into your business account, which simplifies the process of creating invoices and quotes, as well as managing incoming invoices.

Qonto also provides free invoice templates and estimate templates that you can download, customize, and use for your business operations.

Thanks to its integrated invoicing software, you can create professional invoices and manage incoming invoices in a clear and time-saving manner without having to use additional software or services. This is particularly beneficial for self-employed people and companies who are looking for an efficient, cost-effective and innovative invoicing solution.

Tip: read our blog to find out how you can issue invoices as a business owner and what freelancers should consider when writing invoices.

Qonto offers several features and tools to help you save time in digital invoice management, including:

1. Instead of processing invoices manually, they can be quickly scanned, digitally transferred, and stored centrally in one place using the Qonto app on your smartphone.
2. Digital invoice management can automatically sort and classify your invoices based on criteria such as supplier, invoice date, and amount.
3. Since digital invoice management allows recurring processes to be automated, human errors that often occur in manual processing are minimized. This saves time and hassle.
4. Digital invoice management with Qonto also makes it possible to process invoices faster, as they’re sorted and classified automatically and do not have to be processed manually.
5. Qonto saves time in invoice management by automatically extracting the details such as amount, due date, and IBAN from the invoice and preparing them for accounting. This allows you to submit your VAT return with peace of mind and minimise the risk of incorrect information.

Invoice management and financial planning are closely linked to financial accounting. By keeping an overview of your income and expenses, i.e. your incoming and outgoing invoices, you can put your cash flow planning on a solid foundation.

For smaller companies, accounting software and a flexible business account help with financial planning and accounting. Qonto offers numerous partner integrations such as DATEV, Lexware Office, sevdesk and many more, which can be easily connected to your Qonto account. This way, you can always keep an eye on your cash flow and manage your financial planning flexibly.

With Qonto, you can simplify the processing of your incoming invoices and better organize payments to your suppliers. You collect your digital invoices and upload them to your Qonto desktop app. The invoice information is automatically read by the digital invoice processing, and you pay with just a few clicks. If the payment method is a real-time transfer, Qonto immediately archives it in the “Paid” section. For other types of transfer, this step takes place after the payment has been received. Until then, you can find the invoice under the “Scheduled payments” menu item.

You can assign a VAT rate and a category to all suppliers - every future transaction will be automatically sorted accordingly. Particularly practical: Qonto also assigns the transaction to the appropriate invoice. This way, you always keep track of your incoming invoices, benefit from a business account with integrated accounting and never miss a payment deadline again.

Your outgoing invoices can also be clearly organized in Qonto. You can create your customer invoices in just a few clicks and track the payment status under the Invoicing section. This way, you can keep an eye on your cash flow and send reminders in good time to respond to outstanding invoices.

All customer invoices are categorized into issued, paid, and cancelled invoices. Qonto detects when an invoice with the same reference number has been paid and automatically changes the status to "Paid". Alternatively, you can perform this step manually.

There are numerous accounting tools that can help you manage invoicing and payment collection. Thanks to our partner integrations, you can easily link your Qonto account to your favorite tool.

Lexware Office, for example, offers you the option of creating and sending reminders or payment notices in just a few clicks. An invoice created with Lexware Office can also be quickly converted into a payment reminder.

Sevdesk is also a user-friendly online tool for invoice management that supports you in creating offers and invoices as well as payment collection and monitoring.

In addition, Qonto is a DATEV marketplace interface partner. It offers a direct connection to DATEV companies online with DATEV bank data service via RZ-Bankinfo or PIN/TAN and DATEV document image service.

Invoice collection and processing are closely linked to financial accounting, as Accounts Receivable departments deals with all outgoing invoices and the debtors of a company. They take care of the payment of outstanding invoices and keep an eye on the company's liquidity in order to react in a timely manner in the event of payment defaults. Accounts Receivable accounting can also be outsourced and taken over by external service providers.