Invoicemonk vs Stripe Invoicing
Reviewed by the Invoicemonk editorial team
Stripe Invoicing charges 0.4–0.5% per paid invoice on top of payment processing fees. Invoicemonk Pro is a flat $15/month with no per-invoice fees. Here's the full comparison.
Stripe Invoicing is an add-on to Stripe's payment processing platform. It lets you create and send invoices that your clients pay online via Stripe Checkout. It's functional, but it's designed as a billing tool for developer-led SaaS companies — not as a standalone invoicing solution for freelancers, contractors, or service businesses.
The key difference is cost. Stripe Invoicing charges 0.4% per paid invoice (or 0.5% for invoices not using Stripe Checkout) — on top of the standard 2.9% + $0.30 payment processing fee. For a $5,000 invoice, that's $20–$25 in invoicing fees alone, plus $175 in processing fees. Invoicemonk charges $0 for invoicing on all plans, including the Pro plan.
Invoicemonk is a purpose-built invoicing platform with expense tracking, receipt scanning, estimates, client management, and multi-currency support. Stripe Invoicing is a feature within a payment platform. If invoicing is your primary need, Invoicemonk delivers more functionality at a fraction of the cost.
Ready to switch?
Get started with Invoicemonk Pro from $15/month. Upgrade, downgrade, or cancel anytime.
| Feature | Invoicemonk | Stripe Invoicing |
|---|---|---|
| E-invoicing mandates supported | 18 mandates across 17 jurisdictions (ZATCA Ph1/Ph2, MyInvois, GST IRN, Peppol EU, SdI Italy, NRA Bulgaria, FIRS MBS, MTD UK, KRA eTIMS, GRA e-VAT, BIR CAS, SARS, ZIMRA, SRC, SEF Brazil, US B2G, CRA+Peppol) | 0 (no CSID/IRN/UUID issuance) |
| Invoicing cost | Free on all plans | 0.4–0.5% per invoice |
| Professional invoice templates | Basic | |
| Estimates & quotes | ||
| Expense tracking | ||
| Receipt scanning | ||
| Built-in accounting | ||
| Client portal | Checkout page | |
| Multi-currency invoicing | ||
| Automatic payment reminders | ||
| Recurring invoices | ||
| Credit notes | ||
| Invoice verification portal | ||
| No-code setup | ||
| Developer API required | Recommended | |
| Mobile invoicing | Dashboard only | |
| Pro plan | Yes (5 invoices/mo) |
Pricing: Stripe Invoicing fees vs Invoicemonk
Invoicemonk
No per-invoice fees on any Invoicemonk plan. Payment processing fees are charged by your payment gateway — not by Invoicemonk.
Stripe Invoicing
Stripe Invoicing fees are in addition to standard Stripe payment processing fees. A $5,000 invoice costs ~$195 in total fees (invoicing + processing).
For a business sending 50 invoices/month averaging $2,000 each: Stripe Invoicing fees alone cost $400–$500/month. Invoicemonk invoicing: $0.
Ready to switch?
Get started with Invoicemonk Pro from $15/month. Upgrade, downgrade, or cancel anytime.
Choose Invoicemonk if you…
- Want free invoicing with no per-invoice fees
- Need expense tracking, receipt scanning, and accounting in one tool
- Send estimates and convert them to invoices
- Want professional branded invoice templates
- Need a no-code solution that works immediately
- Are a freelancer, contractor, or service business
Choose Stripe Invoicing if you…
- Already use Stripe for payment processing
- Need developer-level customization via API
- Run a SaaS business with subscription billing
- Want invoicing integrated directly into your Stripe dashboard
Switching from Stripe Invoicing to Invoicemonk
Export your client list
Download your Stripe customer data as CSV and import it into Invoicemonk.
Set up your business profile
Add your logo, business details, and payment instructions in Invoicemonk.
Connect Stripe for payments
Keep using Stripe for payment processing — Invoicemonk integrates with Stripe for online payments while eliminating the per-invoice fee.
Start invoicing for free
Create and send your first invoice in under 5 minutes. No invoicing fees, ever.
Invoicemonk vs Stripe Invoicing: pros and cons
Each tool with its "best for" label, price, and the honest trade-offs.
Invoicemonk
Pro $15/moBest for flat-price invoicing with expenses and compliance included
Pros
- Unlimited invoices, clients and currency accounts
- Up to 5 team members on the entry plan
- Receipt scanning and expense tracking included
- E-invoicing mandates live in 17 countries
Cons
- —No time tracking
- —No payroll
- —Free plan capped at 3 invoices/month
Stripe Invoicing
Percentage of invoice valueBest for teams already billing through Stripe
Pros
- Native to Stripe payments
- Strong hosted invoice pages
- Good developer API
Cons
- —Cost rises with invoice value
- —No expense or receipt management
- —Limited mandate e-invoicing coverage
Frequently Asked Questions
How much does Stripe Invoicing cost?
Stripe Invoicing charges 0.4% per paid invoice (or 0.5% for invoices not paid through Stripe Checkout). This is on top of Stripe's standard payment processing fee of 2.9% + $0.30 per transaction. For a $5,000 invoice, total fees are approximately $195.
Can I use Stripe just for invoicing?
Yes, but Stripe Invoicing is designed as an add-on to Stripe's payment processing. You need a Stripe account, and invoicing fees apply per paid invoice. For standalone invoicing without per-invoice fees, Invoicemonk is a better fit.
What is the best alternative to Stripe Invoicing?
Invoicemonk is a strong alternative for businesses that primarily need invoicing. It offers free invoicing on all plans, plus expense tracking, estimates, receipt scanning, and accounting — features Stripe Invoicing doesn't include.
Can I use Invoicemonk with Stripe?
Yes. Invoicemonk integrates with Stripe for payment processing. You get purpose-built invoicing (free) while still accepting online payments through Stripe — without the additional 0.4–0.5% invoicing fee.
Is Stripe Invoicing free?
No. Stripe Invoicing charges 0.4–0.5% per paid invoice in addition to payment processing fees. There is no Pro plan for Stripe Invoicing.
Does Stripe Invoicing include expense tracking?
No. Stripe Invoicing only handles invoice creation and payment collection. For expense tracking, receipt scanning, and accounting, you need a separate tool like Invoicemonk.
Which is better for freelancers — Stripe or Invoicemonk?
Invoicemonk is built for freelancers with features like estimates, branded templates, expense tracking, and a Pro plan. Stripe Invoicing is designed for developer-led businesses and SaaS companies.
Ready to switch?
Get started with Invoicemonk Pro from $15/month. Upgrade, downgrade, or cancel anytime.
E-invoicing mandates supported
Invoicemonk is built for the 18 live e-invoicing mandates worldwide — coverage general invoicing tools don't offer.
18 mandates live across 5 regions:
Fatoorah Phase 2, Fatoorah Phase 1, MyInvois e-Invoicing, GST e-Invoicing (IRN + QR), Peppol BIS Billing 3.0 (B2B and B2G), FIRS Merchant-Buyer Solution (MBS) e-Invoicing, Making Tax Digital for VAT, eTIMS (Electronic Tax Invoice Management System), Certified Invoicing System (E-VAT), EIS, SARS Tax Invoice Requirements (VAT Act s.20) + e-Filing VAT201, Fiscalisation Data Management System (FDMS), VAT Act tax invoice requirements + SRC e-Filing, NF-e (Nota Fiscal Eletrônica) and NFS-e (services), Invoice Processing Platform (IPP), CRA GST/HST tax invoice + Peppol BIS Billing Canada, FatturaPA via Sistema di Interscambio (clearance), SAF-T BG reporting + B2G Peppol BIS Billing 3.0 and planned domestic e-invoicing.
Stop paying per-invoice fees
Switch to Invoicemonk — free invoicing with expense tracking, estimates, and accounting. No per-invoice fees, ever.
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