Invoicing is an important step for any business before receiving payment. For store owners on Shopify, it is increasingly important to have a powerful POS system to help handle these repetitive tasks. But how does Shopify POS support invoice management at a brick-and-mortar store?
What is an invoice?
Simply put, an invoice is a paper that merchants give to receive money owed to them for services or things they’ve sold. In essence, an invoice is a bill that shows the date of operation, payment due date, and what services were provided for a particular order.
An invoice also aids in establishing a contract between the supplier and the customer, requiring the customer to pay the supplier for the services or products (according to the terms stated in the agreed document).
How does Shopify POS support invoice management?
Choose the right types of invoices
In a world of bills, invoices, receipts, and purchase orders, it can be useful to have an automatic system choose the type of invoice that is suitable for your case.
This is because invoices may be used by retailers for a range of purposes. Some of these purposes can be:
- Your customers may want to see the estimated total costs of their selected items.
- You are doing a large and time-consuming project, and don’t want to wait until the end to know about pricing.
- You want to only generate an invoice for each part of the whole project.
A POS system can not only help you choose the suitable invoice type but also process each type with distinctive features. The list can be much longer than above, so try having a suitable Shopify POS system to assist you with invoice management.
Manage invoices online
With a cloud-based Shopify POS, you can manage your invoices online and access them at any time with an Internet connection. Long is the time when invoices have to be processed manually in printed versions. This advantage is highly suitable for companies with large quantities of invoices. Keeping all of them in a cloud-based POS can be a more organized and efficient way.
Another benefit of online invoicing is the ability to adjust details. Many times, customers change their minds and a new invoice is required. With a POS, you can save the history changes and make more accurate and timely adjustments.
Delays in the invoicing process happen many times, especially in larger businesses when the number of invoices to be made is often high. Delays can be a result of many factors, ranging from miscommunication, mistakes from the Billing Department, or not enough staff to handle the excessive amount of work.
However, POS can support electronic invoicing and payment tools, which speeds up this process. The faster the invoices are generated and sent to customers, the sooner the request will be paid.
Research has shown that hacking is the most common type of cybercrime that results in a data breach in 2019. Imagine the hackers know your customers’ purchasing intentions and have their email addresses. Your customers can receive a look-a-like invoice from your store and pay to the hackers’ bank account. Cyber-attack cases like this are no longer a rare situation in the eCommerce world.
However, when it comes to security and eCommerce, Shopify nails almost every ‘best practice‘ without the need for any customizations. They comply with all six PCI Standards categories, have GDPR-compliant features built right into the platform, support two-factor authentication, and so on. Moreover, Shopify supports an SSL certificate as part of their platform.
Therefore, having a secure POS system on Shopify can make sure that your invoicing and payment processes are safe. These processes contain a lot of sensitive information which can be easily cyber-attacked if not strongly protected.
Without a doubt, having a Shopify POS system can help businesses to leverage their invoice management in various ways. If you are a Shopify merchant looking for a POS system that can do so, consider ConnectPOS with excellent invoice management features. We are always ready to discuss – contact us today.