What's Inside CompassBill: Products and Services

Because billing is a task that should take as little time as possible. If more time is spent on sending invoices, keeping track of overdue accounts, and recording charges, less time is available to spend time on your actual line of work. Minimizing the amount of time spent on billing is crucial to our business, and is the core principle behind CompassBill. This is the basis for the Products and Services area of CompassBill.

First off, lets be clear what Products and Services in CompassBill is not. It isn't an inventory management system. If you are in need of this feature, there are many other great applications out there for that purpose. CompassBill is for invoicing, and our experience comes from a service business background.

So what is the purpose of Products and Services? Quite simply, to make entering customer charges quicker.

For example, say you are a web developer. Assume for the purposes of this example that you have already added a couple of services, including one which is "Ultra Deluxe Starter Site". You've just finished a UDSS (your company likes using a lot of acronyms), and want to charge AngelFish, Inc. for this. On the add charge screen, you could type this in manually, add the price manually, and apply any taxes that are applicable manually. This doesn't take long, but if you are doing this many times a month, it can get tedious.

Fortunately, you took the time to set up a list of your products and services. Just select the item from the "Product" dropdown menu, and it will populate the other fields for you. At this point, you can update the fields as necessary, and save the charge. With two clicks, you have saved the charge. Now, you can get your billing done sooner, and get to work building a great site for Angel Fish!