Zoho does invoices
On the down side, you can only create and send up to 5 invoices per month with a free account. For $5 per month, you can send up to 25, while $15 per month will get you 150 invoices, $25 brings you to the 500 invoice level, and if you do a lot of business you can create up to 1500 invoices for $35 per month. Meanwhile, services like Invoice Journal and Invotrak let you create as many invoices as you like for free, but they lack some of Zoho Invoice's features.
The other thing that makes Zoho Invoice worth checking out is the fact that it's just one of more than a dozen online services offered by Zoho. If you like the idea of managing your office documents, web conferencing, and HR management all through the same company, Zoho's got you covered. For a small fee.