When you work for yourself, a huge amount of time is spent on the process of getting paid. From actually creating and sending invoices, right through to chasing payment and accounting reconciliations. There’s no finance team to do the hard work for you!
That’s the problem we set out to solve when we built the Coconut invoicing tool last year.
With Coconut you can create and send branded invoices in minutes, and we’ll notify you when you get paid and automatically match the payment to your invoice. Since then our customers have sent over 47,000 invoices.
And we’ve just made some updates to give you even more control and flexibility when it comes to getting paid.
Late payments are a complex problem, but one of the things that can slow companies down is the payment process. Finding out how your client prefers to pay ahead of time and setting that as the payment method from the off could help to shorten the time to payment.
To support this, we’re adding another payment method. We’ve teamed up with PayPal, so you can add card payments as an option to your invoices.
Instead of having to set up a new payee in their bank account and wait until their next payment run, clients can now pay you straight away using their credit or debit card details. Or if they have a PayPal account of their own, they can pay using that too.
You can already connect all your accounts to Coconut to see all your finances in one place, and now can get paid into these connected accounts through the invoicing tool too.
Previously you could only add payment details for a Coconut current account to invoices, but now you can choose from any of the accounts you have connected to the app.
To give you a bit more control, we’re introducing read receipts on invoices. This lets you see if a client has opened your message and seen your invoice or not. We’ll even tell you if it’s ended up in the Spam folder.
We already show you when an invoice is due (or more importantly when it’s overdue). But it can be tricky knowing when and how to follow up with your client to chase that payment, especially if you’re not sure if they’ve simply overlooked it. So now, when you send invoices via the app we’ll let you know if and when they saw your message.
We'd love to hear what you think about these latest updates, and what you'd like to see next! Tell us over on Coconut Bite.
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