Invoice and Billing Software

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Invoice and Billing Software


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Online Invoice and Billing Software Starts at Rs. 20000.00 / -
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About Invoice and Billing Software

If you have a GST registered business in India, you have to provide GST compliant invoices to your customers to sell services or goods. There is no particular format notified for an invoice. However, the invoice must have specific fields compulsorily given in Rule 46 of the CGST Rules. Starting 1st October 2020, the country has moved from voluntary to mandatory e-invoicing requirements, being implemented in a phased manner based on turnover. e-Invoicing involves submitting an already generated standard invoice on a common e-invoice portal or invoice registration portal for validation and authentication by the GST Network. Under GST, a tax invoice acts as evidence for supply and becomes a crucial document for the buyer or recipient to claim Input Tax Credit (ITC). It is mentioned under Section 16 of the CGST Act that the recipient should hold an invoice to claim the ITC. Apart from GST, the Indian Customs law refers to commercial invoices for import and exports. According to current Customs procedures, an importer or exporter must send a commercial invoice and packing list along with the Customs declaration form, i.e. Bill of Entry/Shipping Bill, for both import and export.

Advantages

Time-saving

Automating the invoicing process saves time compared to manual methods, allowing businesses to focus on other important tasks.

Accuracy

Invoice and billing software reduces the risk of errors associated with manual data entry, ensuring accurate financial records.

Improved Cash Flow

Timely invoicing and payment tracking help businesses maintain a healthy cash flow by minimizing late payments and identifying overdue invoices.

Customer Satisfaction

Professional-looking invoices and efficient billing processes contribute to a positive customer experience, enhancing satisfaction and loyalty.

Financial Insights

Detailed reporting features provide valuable insights into business finances, helping businesses make informed decisions and identify areas for improvement.

enhanced scalability

The software typically offers features such as batch invoicing, automated invoice generation, and customer management tools.

DOCUMENTS REQUIRED FOR REGISTRATION

  • Business Information : Company name, address, contact details, and tax identification number.
  • Customer Information : Details of the customers to whom invoices will be sent, including name, address, and contact information.
  • Product/Service Information : Description, quantity, and price of products or services provided.
  • Payment Terms : Terms and conditions related to payment, such as due dates and accepted payment methods.
  • Tax Information : Tax rates applicable to products or services, as well as any exemptions or special considerations.

Steps Required for Invoice and Billing Software

Set Up :Register for an account and configure the software with your business information, tax rates, and payment terms.

Create Invoices :Use the software to create professional invoices, including relevant details such as customer information, products/services provided, quantities, prices, and tax calculations.

Send Invoices:Send invoices to customers via email or print and mail them depending on your preference and customer requirements.

Track Payments :Record payments received against invoices and track outstanding balances to manage cash flow effectively.

Generate Reports :Use reporting features to gain insights into your business finances, including revenue, expenses, and outstanding invoices.

Follow Up :Set up reminders or automated follow-up emails to remind customers of overdue invoices and facilitate timely payments.

Reconcile Accounts :Periodically reconcile your invoicing records with your accounting software to ensure accuracy and consistency in financial reporting.

Process

Research and Select Software

Research Options:Explore different invoice and billing software solutions available in the market.

Evaluate Features: Consider features such as invoicing, payment processing, reporting, and compatibility with other tools.

Read Reviews: Look for reviews and testimonials from other users to gauge the reliability and usability of the software.

Compare Pricing: Compare pricing plans and consider factors like subscription fees, transaction fees, and scalability.

Set Up Your Account

Sign Up: Register for an account with your chosen invoice and billing software provider.

Configure Settings: Input your business information, including company name, address, contact details, and tax identification number.

Customize Templates: Customize invoice templates with your logo, branding elements, and preferred color scheme.

Set Payment Terms: Define payment terms such as due dates, accepted payment methods, and late payment penalties if applicable.

Create Invoices

Enter Customer Information: Input details of the customer to whom the invoice will be sent, including name, address, and contact information.

Add Line Items: Specify the products or services provided, along with quantities, prices, and tax rates.

Calculate Totals: Let the software automatically calculate totals, including subtotals, taxes, and any discounts applied.

Review and Edit: Review the invoice for accuracy and make any necessary edits before sending it to the customer.

end Invoices

Choose Delivery Method:Select the preferred delivery method for sending invoices, such as email, postal mail, or electronic invoicing platforms.

Attach Documents:If necessary, attach any supporting documents, such as receipts or contracts, to the invoice.

Schedule Delivery: Send the invoice immediately or schedule it to be sent at a later date based on your payment terms and the customer's preferences.

Track Payments

Record Payments: Record payments received against invoices in the software's payment tracking system.

Update Invoice Status: Mark invoices as paid or partially paid to keep track of outstanding balances.

Send Payment Receipts: Automatically or manually send payment receipts to customers upon successful payment processing.
Testimonials

Ankita Mehrotra

One stop for all your legal solutions. Mylegalroute offers the best services on time.Highly recommended.

Sarthak Rajpal

One can expect the best legal advice & timely completion of the work.

Neha Khan

Thankful to team Mylegalroute. They are like your true friend, you ask for favour & they are always for you to provide you with the best.

Swapnil Kushwaha

Commitment, transparency, timely delivery, patience etc , are the words to describe the services of Mylegalroute. They are simply the best.

Akbar Mehtab

When you think for corporate solutions ,you think for Mylegalroute.

Ajay Singh

Ease of doing business = Mylegalroute.

Prashant Sharma

You name it,they provide it. Mylegalroute provide the best services in the market.

Surendra Kumar

You can trust Mylegalroute for long venture. I have been associated with Mylegalroute for quite sometime & they have never disappointed me .They have always fulfilled their commitment.

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About Us

    Regd Office: C-2/170, 3rd Floor, New Ashok Nagar, New Delhi-110096,India

    Corporate Office: 430, 4th Floor, Angel Mega Mall, Khaushambi, Ghaziabad-201010,India

    Branch Office: 2/152, Vivek Khand, Gomti Nagar, Lucknow, Uttar Pradesh-226010,India

    (+91) 9716778456

    info@mylegalroute.in

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