The easy way to monitor your accounts and important payments
Monitoring your invoices can turn into what feels like a full-time job if you don’t stay on top of it. Fall behind, and you end up missing payments, losing track of who owes what, and forgetting when major invoices are due.
All of a sudden you’re missing money, working on duplicate invoices, or unsure when the last time you were paid. The last thing you want to do, whether you're sending or receiving invoices, is to lose track.
Keeping a detailed report of your invoices means you know exactly what you’re owed and when. An invoice tracking template can help you stay up-to-date on payment dates, customer names, any outstanding amounts, and what’s been paid already.
Keep all your invoices and accompanying payment information stored in one central place so your entire team can stay in the loop and access it at any time (or choose who you want to be involved with).
What is an invoice tracker template?
Anyone working in finance will know how important it is to keep on top of invoicing - it directly impacts your cash flow, and billing issues can prevent you from effectively managing your business and generating revenue.
An invoice tracker template is a structured document that makes the whole process much easier and faster. It helps users keep track of their invoicing activities, monitor payment statuses, and manage that all important cash flow.
Invoice tracker templates can be created using spreadsheet software like Microsoft Excel or Google Sheets. While this option can work fine for simple invoice management, business' are increasingly turning to project management software like Teamwork.com to track invoices, make payments, and monitor finances.
Benefits of using our invoice tracker template
With Teamwork.com's invoice tracker template, you'll have everything you need to keep on top of your payments, track statuses, and keep key stakeholders up-to-date at every stage of the cycle. Plus, the template is completely free to use and can be easily customized to suit any of your invoicing requirements.
Here are just some of benefits you can expect to receive:
Group invoices together
Segment invoices by month so you can track monthly revenue, or group them by client and project to make sure you have everything you need all in one place.
Assign invoices to relevant stakeholders
Give team members or clients an insider look at their invoice status. You can assign team members to monitor and manage different invoices while keeping an eye on which clients owe what.
Track the status of each invoice
Stay on top of payments by tracking each invoice. Quickly see how much is owed, who owes it, and when the invoice is due.
Get a quick overview
Enjoy a top-level view of your invoices in the same place. Check when each payment is due and which invoices are still outstanding – all from the same dashboard.
Why our invoice tracker template works better than Excel templates
It's possible that you're currently using Excel templates for managing invoicing-related tasks, and you may even be happy with how it performs for simple invoicing requirements. But when you're managing multiple (and complex) billing processes, Excel probably isn't going to be up to the job.
Our invoicing template has so many benefits that Excel can't keep up with. Here are just a few examples:
Integration: Say goodbye to constant app switching between Excel and the other tools you rely on. Our template seamlessly integrates with accounting software like QuickBooks and FreshBooks, so you can easily export invoices directly from Teamwork.com to your invoicing platform.
Advanced reporting: Get a real-time view of your financial performance for each project and by client, and track against budgets to keep on top of your figures at all times.
Scalability: As your business grows, your invoicing needs may become more complex. Teamwork.com was built to scale with you, and can accommodate a larger volume of transactions and has additional built-in features such as time-tracking, resource management, and budgeting.
Invoice tracker template - FAQs
Can I customize this template to suit the specific needs of my business or industry?
Absolutely! One of the key advantages of using our templates is its flexibility and adaptability to specific needs. While the templates provide a general framework, you can customize it to align with the specific requirements of your project and the unique characteristics of your organization.
Why is this invoice tracker better than an excel template?
Our invoice tracker template is better than an Excel template for a number of reasons - especially for larger teams managing complex billing. It offers better automation, advanced reporting, collaboration features, and integrates seamlessly with accounting software such as QuickBooks and FreshBooks.
Can multiple team members collaborate and input data into the invoice tracker using this template?
Yes! With our invoice tracker template, you can invite team members, clients, and other stakeholders to collaborate on tasks, share updates, and store documents in one place.