What exactly in an online invoice maker software?

As Investopedia defines it, an invoice is a time-stamped commercial document that itemizes and records a transaction between a buyer and a seller. If goods or services were purchased on credit, the invoice usually specifies the terms of the deal and provides information on the available methods of payment. An online invoice maker software is one that does all this for you without letting you worry about the storage space, system upgrades, trained staff, and the whole documentation. Online invoice maker is like a virtual account section of any organization with the control being in the hands of the owner. Live updates give the user, flexibility, and more time to focus on important aspects of his business.

How does an online invoice maker software work?

Every online solution has a different Modus Operandi but the baseline more or less remains the same. The user generates an invoice using Online Invoice Maker and sends it to the client through various means. The client verifies it and does the payment. The same is the case with expenses. It sounds simple but has a complex code running behind it. To add to the confusion comes the “Tax” part and the “TDS” where most of the existing manual or nonautomated systems used to create blunders. With online invoicing solutions, all the above have been taken care of. Solutions like InvoiceTra, make the whole ordeal simple like a click of a button.

Do you really need an online invoice maker software?

Yes, You need it. The users are everyone from freelancers, SMEs to big businesses. Financial management and robust payment solutions are the essence of any successful business. With the world going mobile and everything being global, an invoicing solution is inevitable as it takes care of invoicing/expenses/taxes from anywhere, anytime. Nowadays, we even have online wallets to take care of personal finances. As a famous saying goes “Finally everything is about money”. Online Invoice maker software is an asset which will help you and your business grow financially.

Are online invoicing systems safe?

The invoices in any invoicing system are hosted in the cloud and securely protected by an SSL-enabled server. Most of the invoicing business are certified for cyber essentials and have insurance against cyber fraud. They also have a security policy in place as an inherent culture of any online business. The fact cannot be denied that every company is vulnerable to cyber fraud despite the above-mentioned measures but again this is taken care of by human firewall, verification methods, vigilance, and awareness. By far, online invoicing is much safer and efficient than any manual cheque or bank transfer. Top indian startups like UnlistedZone, InvestorZone etc. use Invoicetra.

What are the added benefits of an Invoicing System?

An online invoicing system is not just for generating invoices. InvoiceTra, for instance, offers multiple features like customizing invoices, proforma invoices, and expenses, tax handling, auto report generation, and updating. These are the basic features that any startup or SME would need to manage their finances. There are other invoicing solution with paid versions that offer multiple features enabling big business to handle numerous clients globally.

So many online solutions in the market… Do I need to spend?

online-invoice-makerThere are many online invoicing solutions available in the market. Few which offer free versions with all basic features loaded are InvoiceTra, FreshBooks, QuickBooks, Zoho, Invoicely, etc. These also offer up-gradation to respective premium versions with more features but of course at a cost. Invoicetra, for instance, is an online invoice maker that gives you the option to generate unlimited invoices to unlimited clients free of cost with no hidden charges.

Has it to GST/TDS compliant?

GST is an important factor to be considered if the online invoice maker is designing invoices for an Indian client. HSN number for a product and SAC number for any service is required to be included and the GST is accordingly included in all the calculation with respect to invoices and expenses. One problem that companies face is during tax return filing when it is required to compile all the TDS info from the invoices “paid against” during that duration. Again this muddle has been taken care of in Invoicetra where you just need to mention the GST rate and tax reports are auto-generated in various formats at the month-end.

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