The COVID-19 pandemic has adversely affected the Indian Markets. Businesses are walking to halt on a microscopic level. Operating with minimum employees has made it tough to manage cash flow. Can hiring the best billing software help with tax compliance and other business operations?

Amidst the ongoing economic crisis, India’s government has offered several relaxations under the Income Tax Act and other tax laws. The GST Council has extended the deadline to file GSTR-3B for June and August.

Here’s what you need to know about filing GSTR-3B. Know how best billing software in India can ease filing GST returns.

What Is GSTR-3B?

GSTR-3B is one of the simple tax return forms implemented by the Central Board Excise and Customs (CBEC). Businesses registered under the GST regime must file GSTR-3B for July and August. The GST-1, GST-2, and GST-3 forms must be filed by September.

Who Needs to File GSTR-3B?

Taxpayers registered under the GST regime must file GSTR-3B. Businesses must file their tax returns even when Zero transactions have been made in a month.

However, the following classes of taxpayers are exempted from filing GSTR-3B amidst COVID-19

1. Input service providers
2. Non-resident taxable person
3. Composition dealers
4. Suppliers of OIDAR (Online Information & database access or retrieval Service)

Is It Possible to Revise GSTR-3B?

Once you file GST returns, the Income Tax Department will tally your claims according to the transaction reports.

In case your invoice details do not match with your preliminary information. You will be in serious trouble. It is impossible to revise the GSTR-3B form. Thus, file your GST returns carefully.

Make sure your details are accurate before submission. To rid from errors, file your GSTR-3B returns on Imprezz. File your returns with our exclusive invoice templates and solutions.

Penalties for Not Filing or Delayed Filing of GSTR-3B Form

The CBIC department has recently announced that there will be no charges penalized for the delay in filing GSTR-3B. It is applicable in cases when the liability of the taxpayer is NIL.

However, other taxpayers must pay RS. 50/- per day for failing to file or delay in filing GSTR-3B.

Avail the Updated GSTR-3B Format on Imprezz – the Best Billing Software

The updated GSTR-3B form on Imprezz is a standard format of filing returns. It includes:

• Your registered GSTIN number
• The name of your business registered under the law
• Details of sales and purchase orders accountable for reverse charges.
• Details of interstate sales made to the buyer under composition scheme, unregistered buyers, and UIN (Unique Identification Number) holders.
• Eligible Input Tax Credit
• Value of non-GST, nil-rated and inward supplies
• Payment of tax
• TDS/TCS credit

How to File GSTR-3B with Imprezz Software? – Best Billing Software in India

Imprezz automates filing GSTR-3B form. It can save a lot of money and a lot of time during the COVID-19 pandemic. You can focus on other significant business operations instead.

The auto-complete feature on Impress updates all the required details in just a click. The preview option enables you to edit the updated details from the GSTR-3B form before filing.

Our GST Export Tools will assist with the GST income form and help you file the GST return. We aim at reducing Tax Compliance time and significantly save costs. We are here to help you achieve all your GST goals with our Invoice Software Solutions.

Imprezz is one of the best invoicing and billing software in India. Avail online software at affordable prices.

The Process of Filing GST Returns Simplified – Latest Update

The GSTN has finally simplified the application of GSTR-3B. The aim is to create a less rigid and error-free system. The app is now updated to be user-friendly to enrich the user experience. Concerning several issues incurred in the past, changes have been made to make filing returns easier for the taxpayers.

According to PWC, the following changes have been made in the GST returns filing form:

1. Tax Payment:

The updated form enables the public to see the different payment modes in tax liability before submitting it. Unlike earlier filing, the taxpayer can now make changes even after filing the returns.

2. Challan Generation:

The manual challan generation process is now outdated. You can now generate challan with just a few clicks. The renewed process generates the challan with the cash amount payable from the balance available in the bank account.

3. Draft Return and Facility to Download:

The simplified version of filing GST return now has the downloading option available to save the drafts. It enables the taxpayers to re-check the returns filed offline.

At Imprezz.in, The draft can be downloaded at any stage of the filing process to verify the saved details offline.

4. Auto-Fill of Tax Amount:

Unlike earlier, the taxpayers have to fill either CGST or SGCT/UTGCT now. It saves time and rids taxpayers from errors. Other tax information is auto-filled manually.

File the tax compliance without errors and automate the entire process. Start 14 days free trial – to avail the free billing software on Imprezz.in – the best GST billing software for small businesses.

Conclusion

GST has abolished the cascading effect that taxes had on revenue by consolidating different taxes into one. The impact of GST has developed a transparent, ethical system. It has also helped India get better recognition in the international market.

However, Indian markets have dropped down drastically in the light of COVID-19. The government has released several reliefs and modifications to help taxpayers. Several amendments have been bought to light to ease the process of filing GST returns.

The implementation of lockdown and the current lifestyle phase has made it impossible to file tax returns offline. Automate the returns filing process by hiring the best billing software in India to cut costs and focus on higher management tasks.

Imprezz.in is the #1 professional invoice and accounting software option. To know and understand various services provided by our software, visit the official website Imprezz.in.

The government of India approved the Standard GST Invoice Template on its 37^th GST Council Meeting. In January 2020, the e-invoicing was accepted by the GST Council.

Like the new GST filing system, the electronic invoicing standard will be applied on a voluntary basis. The new GST invoice template is implemented to ensure that one software can read the invoice created by the other.

The new update in the GST invoice template supports the ability to operate in the GST system. It can easily read and eliminate the errors resulting from data entry.

The GST Council has decided to introduce e-invoice billing in the upcoming 39th meeting. This is applicable for all goods and services under the GST scheme. The council plans to implement a QR code application starting from October 1, 2020, in light of COVID-19

The latest amendments aim to reduce the GST evasion. Thus, apply only to businesses whose turnover exceeds a specific threshold limit set by India’s government.

What is E-invoicing?

Any business engaged in selling goods and services locally or globally must already be familiar with Invoicing. Different types of invoices are created concerning tax, retail, and excise. Click here to know more.

Who Should Issue the GST Invoice?

Any GST registered business or vendor selling goods and services to its customer must issue a GST-complaint invoice. Click here to know more.

Role of IRP Under the GST System of E-Invoicing

Companies and individuals mainly use the e-invoicing API for reporting organized B2B invoices to the GST system. Moreover, the real-time reporting of transactions eliminates the discrepancy caused due to suspension.

IRP is the first portal to allow registration of online invoices in the system by configuring the API. It integrates the e-invoicing system with the taxpayer’s commercial invoicing system.

Master data and essential code extracts are provided for an accurate understanding of logic and concepts. This portal helps businesses to improve their API performance.

Mandatory Contents on Updated GST Invoice Template

1. Invoice Number
2. Date
3. Name of the Customer/Client
4. Billing & Shipping Address
5. Registered Taxpayer’s GSTIN (Optional)
6. Place of Supply
7. SAC /HSN Code
8. Product Details (description, quantity, unit & total value)
9. Tax value & Discounts
10. CGST/SGST/IGST – Rates and Amount of Taxes
11. Applicable Reverse Charge (If only it does)
12. Signature of the Supplier/Vendor

At times, the bill of a recipient who isn’t registered might exceed RS. 50,000.  In such cases, the contents of an invoice template must include:

1. Name & Address of the Recipient
2. Delivery Address
3. Name of the State & Code

Busy invoicing? Here, find the updated GST invoice template in the image below. For accurate GST invoice processing and automation, check out Imprezz.in

How Many Copies of the Invoice Should a Business Create?

It is necessary to have three copies after sending your invoice in case of a supply of goods, namely:

• Original (a copy issued to the recipients)
• Duplicate (a copy issued to the transporters – not applicable for suppliers with invoice reference numbers from GST portal)
• Triplicate (a copy retained by the supplier)

It is necessary to have two copies in case of a supply of services, namely:

• Original (a copy issued to the recipients)
• Duplicate (a copy retained by the supplier)

When to Issue an Invoice?

The time limit to issue a tax invoice, revised GST bill, debit, and credit is followed as per the GST Act.

The due dates to issue invoices to customers are mentioned below.

When to Not Issue a Tax Invoice?

A supplier cannot issue a tax invoice under certain circumstances.

• When a recipient does not require an invoice
• When a recipient is not registered under the GST system.

How to Personalize GST Invoices Templates

Adding your company logo personalizes your GST invoice. Are looking for the best GST billing software in India that can create invoices, design invoices, and customize invoices? Start a 14 days free trial on Imprezz.in for free invoice templates.

Revising Invoices Issued Before GST?

Under the GST regime, businesses must have a provisional registration before getting the original registration certificate. Thus, you can revise an invoice before GST.

However, the protocols for issuing a revised invoice include:

1. Invoices issued between –

• Date of implementation of GST
• Date of issue of registration certificate

2. Issue of revised invoice –

• Within one month of registration

The protocols are applicable for invoices issued between:

• The GST implementation date
• And, the date on which the registration certificate has been released

Both, Large & small businesses must issue revised invoices against existing invoices within one month from the date of the registration certificate.

E-Invoicing Under Special Cases

The government provides relaxation on the invoice format under special cases. It is applicable for the banks, passengers, transports, etc. Click here to know more

Conclusion

Union FM Nirmala Sitharaman discussed and approved the standard of new e-invoice mechanism in the 37^th GST Council Meeting. This was published with the schemes on the GST portal.

Stay updated with the GST format and themes, automate your GST invoicing process. Start with us, #1 Imprezz.in – Create and send professionally designed custom invoice templates.

Managing financial transactions is crucial for a business to succeed. Often, Small business owners are self-reliant and choose to manage everything themselves. Using accounting software in such a case is one great way to save some extra money.

The software designs vary with scope. They are designed differently concerning the business scale. In today’s technologically advanced world, using accounting software has become vital for business growth.

The following page will guide you through everything you ought to know about small business accounting software.

Keep up the Business With Online Accounting Software

Small businesses often come across customers who create serious credit problems. Vendors tend to ignore the bills and invoices until quarterly payment arises. Usually, the lack of an accounting system in retail businesses creates a cash flow gap, which goes unnoticed by the owner.

You can keep your business data updated and current by hiring accounting software instead of an accountant. Online accounting software enables you to record day-to-day transactions and bi-weekly transactions electrically. It forces your business to stay tuned with the monetary pulse.

Automation also helps you make data-driven business decisions. It enables you to maintain a happy relationship with both clients and customers. Moreover, you can also automate invoice processing and payment reminders through online invoicing software to rid from troublesome clients and vendors.

Take small steps, begin with Imprezz.in. Start a 14days free trial. Advance your business with our upcoming accounting solutions.

Importance of accounting software for small businesses

Centralized Finance Management

Accounting software centralizes various aspects of finances under a single program. It enables multiple features such as:

• Creating Invoices
• Inventory management
• Payroll
• Bank collections
• Bank reconciliation
• Dashboard
• Bills and expenses management
• Information security
• Mobile applications
• Project management
• Customer relationship management

Filing Income Tax Compliance

The software not only shows the amount of tax payable but allows you to prepare income tax reports. It simplifies Tax compliance by giving easy access to financial data to complete and file the government income tax forms. Some advanced software provides options to file the compliance directly.

Accurate Calculations

Small business accounting software carries all the calculations from smaller to complicated ones. This, in turn, ensures accuracy in financial data. The software provides easy access to all accurate information. Like, client’s mailing address, outstanding amount, or the number of stocks available.

Analysis Tools

Accounting software works more like a financial advisor. It provides real time reports which help analyze different aspects of the business. It provides data and forecasts that enable you to make expert financial decisions. It offers various tools like balance sheets and reports to manage accounts payable.

Using Cloud-Based Accounting Software to Simplify Your Business Workflow?

Cloud-based accounting software enables you to access and control your business transactions from anywhere. Most software empowers business owners to access the same from their iPhones/iPads or Android devices through uniquely designed mobile apps.

These applications carry out some of the vital accounting functionalities. For instance,

• Invoice automation through mobile devices
• Complete access to client and invoicing dad
• Recording expenses and creating expense reports
• Importing contacts and data from a mobile device
• Tracking billable time and more

The inexpensive accounting software also enables your accounting team to have easy access to books. It frees you from manual and electronic file transfer.

How Does an Accounting Tool Work?

Accounting is one of the complicated business functions to manage. However, businesses must do it right. Small business accounting software makes it easier and hassle-free.

Using an accounting tool is no different from using productivity applications online. The content on any accounting software is divided into logical modules that provide navigations and toolbars.

The software can be modified as per your preferences during the installment or through settings.

The homepage or dashboard provides an overview of financial data. The financial data is shown through charts which include income, expenses, balance, invoices, and bills. The tools also show automation links that help you take immediate action.

The software is usually operated through a standard web convention. The software gives access to various accounting features through the menu, dropdowns, navigations, and more. Each software is designed uniquely with colors, infographics, fonts, which makes it appealing and pleasant.

How to Implement Accounting Software?

The implementation of accounting software can take anywhere from a couple of hours to several, depending on your business needs. These usually charge a subscription fee along with a free trial period.

The initial signing up procedure includes providing your contact details. You can either choose to upload your company logo or not. However, uploading a logo is vital to appear on the sales and purchase form.

Further, you can choose to use or disable features in the tool, such as inventory tracking, purchase orders, etc. You can then move on to uploading your fiscal year if you use any account numbers.

If you want the software to provide access to your transactions, log in with the necessary info and password. The software will automatically import all your recent transactions to an online register.

If you want to provide payment options for your customers, you will have to sign up with a payment processor.

Setting up Accounting Software for a Small Business

Firstly, you need to analyze both administrative and financial requirements.

Secondly, you must have at least minimum literacy in finance. Although you automate bookkeeping, there are certain necessary things that you will have to do.

Thirdly, you read books or take classes to improve your skills to make decisions based on financial data.

Fourthly, Do you have an accountant or consultant working for your business? Consult them before making your final decision because they have a better understanding of your finances and business requirement.

Lastly, but importantly, you need to know your hardware situation. The software quickly occupies the space. Thus, if you are planning to implement one, you need to analyze your system storage capacity and back-up procedures.

Conclusion

Accounting software is a conventional bookkeeping method. Implementing accounting software not only reduces cost but eases the business workflow. It provides insights like determining overstocks, recognizing valuable services, and generating sales forecasts, unlike the manual bookkeeping system.

Subscribe to Imprezz.in #1 accounting software in India, to simply accounting process for your small business.

Traditional organizations still consider invoicing as a manual back-end operation. However, manually processing the invoice results in accounting risks. It includes:

• Late payments
• Time-consumption,
• Labor expenses
• Endless filing
• Routing and Approving invoices
• Complexity
• Lack of visibility

Why should businesses opt to automate invoice processing? Terminating manual errors and adopting an efficient digital invoicing system accelerates the AP workflow.

Imprezz.in is a GST billing software widely known for organizing and handling data related to accounts payable. It runs the collection, processing, and delivery of supplier’s data at configured intervals. The online GST accounting software scans interprets and files the invoice data without human interruption.

Conventional Businesses in today’s competitive world demand streamlined automation. Artificial Intelligence and Machine Learning have redefined the digital invoicing process. It not only automates the invoicing process but also helps defend against fraud.

What Is Automated Invoice Processing?

Automated invoice processing is cost-effective management of Invoice data, from arrival to payment, with the implementation of a cloud-based system. Moreover, it is an ideal way for businesses to get rid of manual invoicing or paper invoices. Also, Invoice automation enables organizations to gain better control over the accounts payable.

How to Automate Invoice Processing?

Automating invoice processing has significant benefits and minimal implementation risks. You can optimize productivity by implementing the integrated and smart management of invoice processing. Are you wondering how to automate invoice processing? Here is a complete guide on how to automate invoice processing with Imprezz.

1.      Creating an Invoice Template

The automated invoice processing is a contrast of manual procedure. Creating invoices on Imprezz is an easy task. You can create a detailed invoice with the UI builder once you have collected all the data.

The automation platform enables custom workflows with customized invoicing solutions. Secure compliance allows you to create an invoice based on tasks or rates. Imprezz is a smart software that will enable you to incorporate branding like custom logos, text, etc.

The image below demonstrates the single dashboard which offers creative templates. Visit Imprezz.in to automate invoice processing.

The template includes tables for various essentials like:

• Invoice Number
• Specified table for suppliers/clients/customers/vendors (name, address & contact info)
• Number of items
• Total amount to be paid
• Remarks & etc.

As you can see in the image below, you can easily automate invoice processing with essential options available on Imprezz.

With easy automation, you can make efficient use of your accounting team. Automate invoice processing with Imprezz.in. Check out the official website to get a free trial.

2.    Specifying the Approval Conditions

While creating an invoice, you must specify how the invoice has to be approved. Defining the same makes it easier to carry out the invoicing procedure further.

• Specification of the authorities (Approving authority/secondary authority)
• Terms and conditions for approval
• Well-defined step for future procedures to be carried out

At Impress, we understand that each company has diverse preferences. The template can be edited according to your requirements. Once the invoice has been created, you can automate the circulation among different levels of the organization.

3.    Clearly Defining the Terms and Conditions for Approval

You must clearly define the terms and conditions for invoice approval. It stimulates the functionalities of invoice processing. Likewise, Imprezz offers a unique option to hide the terms from a specific team member and provide access to members involved in the invoicing process. You can also access the additional security options and restricts the rights for modifications to you alone.

4.     Effortless Workflow

Once you mention all the essentials in the software, the workflow in the organization is automated. You can fax or email your suppliers through the software. Automatic notifications are sent to different levels of the organization to maintain a smooth workflow.

Why Automate Invoice Processing With Imprezz?

1.      Execute Transparency

Transparency is when you have access to all the invoice data. Get access to everything from invoice status to spend patterns. Imprezz provides 100% visibility. It also gives access to the status of all invoices ever created.

The online software allows us to monitor the expense report, like what is being spent, where, and when. The tools give a clear picture of the business pay-outs. This helps the accounting team to make data-driven decisions.

2.     Effortless Invoice Processing

Imprezz provides invoice updates and 27/7 visibility. Country specific VAT- regulations offer is essential for an automated system. With the use of an integrated automation solution, you can control the invoice management on a global scale.

• Capture: – The data capture solution reads and interprets all invoice files, regardless of any format.
• Validation: – It means division and validation of captured invoice data, as per the available purchase order, goods receipt, and master data.
• Resolution workflow: -It means flagging of any discrepancies and missing data for user verification.

3.     Maintain Quality Relationships With Everyone

The automation of the invoicing process rids the management system from the burden and helps focus on higher management tasks. This, in turn, helps keep them happy. Having an efficient accounting system also helps maintain a good relationship between the organization and suppliers. With impress, you can benefit from the automation solutions and advanced online payment options.

The image below demonstrates various invoices and payment methods. Automate invoice processing with our software. Avail the free trial today.

Conclusion

In conclusion, Automated invoicing is gradually beneficial for organizations. Get rid of the traditional methods and lean on technology for the implementation of cost-effective processing automation.

Cut down on unnecessary paper invoicing and implement Imprezz, the #1 GST invoicing tool in India. We are a certified company bound by information security for handling finances. Let us help to ace the race in today’s competitive world.

Check out Imprezz tutorials to understand the electronic invoicing.

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As a small business owner, you try to streamline your business finances from the start. It is necessary to generate and send effective online invoices to the customers and also create a payment reminder if your invoices are not paid on time. Once you create an online invoice, you send it out immediately when the job is over.

Despite you being organized, however, it’s crucial to know how to handle the inevitable situation. That is, few of your customers will fail to make their invoice payments on time. It would be best if you handled such cases with ease and at a professional level.

How to send a payment reminder at the ideal time is not a very complex process. While addressing the late payment reminders to the client, you do not want to confront or sound harsh to customers. As some times, due to various reasons, a payment can get delayed.

You need to create a balance while sending the payment reminders by being professional, without letting go of your hard-earned money. Sometimes delayed payments can create a threatening situation for your business cash flow.

You can overcome the above-mentioned challenges by using GST invoicing software. Imprezz.in is a GST billing software that rids you from all the accounting hurdles. The online quote maker comes with automated features that enable you to send payment reminders on time.

What is the payment reminder?

An invoicing software offers a recurring payment reminder option. Through a payment reminder, you inform your client about the delayed payment that has not been made on time. You end up requesting the client to clear the amount.

It is not easy to chase and remind delinquent customers again and again,  who always creates an issue when making payments. But instead, you build a compelling email template reminder that ensures that your customer pays your invoice as soon as possible.

Implement quick tips for payment reminders

 It’s crucial to formulate proper, timely procedures to boost your possibilities of getting paid that is due on the due date. It will help you recover the cost of outstanding claims from clients to pay.

As a business owner, you are worried about the ideal time to send payment reminders to customers? Time is the essence when it comes to business cash flow. The more you delay the reminder process on due invoices, the more likely your cash flow will decrease.

Send a reminder when payment is due

Your customer or client must remain aware of unpaid invoices. It would be best if you informed them about the outstanding amount, which needs quick attention. If required, you can send a reminder even before the due date for an on-time payment release.

Remember to include all the required information necessary for payment on time before forwarding it to the client.

Check with the client to confirm that they have received the invoice. Do acknowledge that the invoice is not yet overdue.

It is good practice to ask about whether any issues would delay payment. It’s helpful to know the expected date of payment if an invoice is going to be late.

Refer the invoice for the quick response

You need to specify the invoice number, the invoice amount, and the due date while sending the reminder to the client. Mention the products or services for which the invoice has been sent. It will help the client to access the invoice and pay faster.

Mention payment terms

Imprezz.in provides a range of payment terms that organizations or businesses can choose while creating their invoices. Choosing invoice payment terms influence the payment process. Mentioning your payment terms helps get paid faster. As you can observe in the image below Imprezz.in allows you to choose the duration within which you want the customers to clear the payments.

When the payment is 14 days overdue, you are legally entitled to add interest and compensation to the payment amount. If you decide to exercise these rights for your business, then state the payment terms for reference of the client. Send a clear message that you need quick action for the particular invoice to be paid.

Explain the consequences of late payments

In extreme cases, you need to mention the charges of late payment to the client and even what the costs are. If the client denies or fails to pay the extra costs, you can take legal action. This way, your customer knows what to expect and will be more inclined to pay your bill quickly. It helps to escalate the severity of the late payment.

Transparent communication

An outstanding invoice can cause a lot of frustration. It would be best if you keep your communication, polite and businesslike while inquiring about late payments. It’s suitable to send the first communication to chase the debt if invoices are overdue by 14 days. You can send a reminder in a language that the customer can understand easily.

Automate your payment reminders

If you want to run a flourishing business, then it’s crucial to manage your credit control. With the help of an automated system, you can manage the customer data centrally. It helps you to give a powerful insight regarding payments of good and bad customers.

Sometimes the client forgets to pay for the invoices, and you need to remind them of the outstanding balances.

Automatic payment reminders save a lot of time and money.

Imprezz offers and online software to track all your financial cash flow. A transparent view of clients and cash flow allows you to make a quick decision for the future. It enables you to tackle issues, take action, and the company’s cash in a favorable position.

With easy clicks, you can send an unlimited number of invoice payment reminders before or after the invoice due date. The software offers a variety of payment options as per clients’ convenience, for example, PayPal, credit card, etc.

How to set automating payment reminders?

Imagine if you have to deal with payment reminders regularly? The amount of all those emails you have to go through while checking on your customers daily. About money, the clients owe you or approaching the due date.

It is a very time-consuming task that needs constant attention.

You can deal with this tedious task with Imprezz online invoicing tool. You can easily create customized invoices and also has the option to set automatic payment reminders.

The recurring payment setting allows you to create individual payment reminder invoices. The recurring settings automatically send the invoice emails to the client on a set due date.

If required you can change the settings for discounts etc. The easy to handle feature minimizes the workload and helps to receive your payment quickly.

The automated cloud-based software is easy to access globally. We help you schedule a smart sequence of reminders, which are automatically sent at the right time. It will save time and, more importantly, significantly reduce the risk of late payments.

Implement a successful reminder schedule

• Send a payment reminder email 7 days before the due date.

• The day invoice is due to follow up again.

• Add additional payment reminders for each past day in a collective chunk (7 days, 30 days, 60 days, 90 days).

• A final email/letter on-demand on 120 days after the due date.

• Get ready to take legal action or hand over to the collection agency.

Conclusion

There can be many reasons for the delay in payments, but maintaining a calm attitude is of utmost importance.

You require to take a firmer approach towards reclaiming your compensation. Timing and language are the two critical components for a valid payment reminder. Always give your customer a final chance before sending a legal notice.

Check out www.imprezz.com to understand the user-friendly features to generate invoices, reminders, and more.

For a small, large, or startup business owner invoicing is an integral part that needs attention for smooth functioning. If you fail to generate an accurate and timely invoicing, then your cash flow suffers hugely. Therefore, create severe damage to your business and thus it is important to wisely choose a good invoice software.

With the use of online invoice software, work efficiency increases. The online software helps to remove human errors, and are easy to access. The online generated invoices are accessible from any part of the world through any device, be it mobile or desktop. Invoicing software is any day better than buying an invoice template.

5 Important things to look in an invoice software

Every time you sell a product or service, you need to create an invoice with an invoice number. Invoice is a document that you create for your customer to whom you sell your product or service. If you are managing a business in any part of the world, how to reduce invoicing costs becomes the biggest concern.

An invoicing software saves your time, price, and create efficiency in the work. It creates a seamless and accurate process to manage all your financial operations.

I. Creating customized invoices

Invoicing software offers the ability to conveniently customize invoices to impress your clients as per your branding. It’s easy to insert your company logo, opt for colours of your choice while creating a personalized invoice.

A customer relies on accurate information when it comes to getting billed. Correct address, phone number, pricing details etc, need to be visible on the invoice. A transparent invoicing process, gives an opportunity to build trust amongst your customers.

The automated invoicing method also reduces the work of writing and rewriting invoices over and over again.

A wide variety of invoice templates allow you to choose invoice format based on your industry/preference. For instance, you can pick templates based on service/product on hourly rates.

II. Easy customer management system

When you have multiple clients, it’s not easy to remember and maintain a record for each individual. When creating invoices, if you have to look up for each client’s information, it further slows down the entire work process.

An invoicing software saves all the contact information details in its database. Imprezz offers accounting software that allows you to save and edit all goods and service related customer data centrally. You can freely access data at any time from anywhere.

The software stores each customer detail, discounts, the total amount owed, and delivery conditions etc. The credit note feature allows you to provide a unique identifier number to manage any discrepancy after the payment is made. It gets attached to the existing invoice while maintaining your invoice sequence.

Dashboard overview and other tracking capabilities help you to keep a check on your cash flow, recurring invoicing, reminders, and notifications.

This way, you save your valuable time, and the entire customer database is kept secure and organized.

III. Multiple Payment Options

A professionally designed invoice gives your customer a piece of clear information and message. An online invoice focuses on the action that matters most to everyone, i.e., fast payment.

In Excel and Word invoice templates, you cannot provide a wide variety of payment options. With invoice software, your customers can make payments with the convenience of credit card, via bank account or Paypal. When you offer various secure and convenient payment modes to your customers, then the odds of getting paid faster increases.

Online invoices have on the spot “pay now” button attachment, so the customers can pay quickly when they view your invoice. Email and push notification facilities are useful to see updated account activities, such as accepting quotations, receiving payments etc.

IV. Tax, discounts, and shipping many powerful tools

Online invoice accounting software securely stores all your products, prices, customer, and tax details. Each time when you create an invoice, you can quickly generate any information with a few clicks. You can give a different reference number to all your customers as per their purchase order history. For instance, using the shipment number or purchase order number.

The software also provides insight to help you identify where the majority of your income comes from.

All the information related to regular payments and data about the selling of products, etc., is available without any trouble. Additionally, customer payment data is stored in a PCI-compliant way ( Payment Card Identity Data). It means that both you and your customers have no problems regarding the security of payment details.

When you opt for online invoice software options, your data is stored, managed, and processed in the cloud. In simple words, your information is securely stored online in the same way as the computer’s hard drive.

In case if you encounter any problem with your computer, the online data remains safe. The data is backed up on multiple servers.

At Imprezz, you can create GST compliant invoices with the click of a few buttons. With the GST Export tool, the receipts of your income and expenses are accessible to export for your GST returns filling.

V. Fully automatic process

The automated features in the software help you process all your invoices requirements. Following customers for bill payments is one tedious task. Invoice software takes all your problems away and sends automatic reminders to customers who haven’t paid on the given due date. It reduces the chances of getting your payment late or unnecessary delays.

For regular customers, you can easily automate your invoices. So that the clients release payments on a recurring schedule (a set date every month).

With a set recurring payment schedule, the reminders are automatically sent to the customers over a 30 days cycle. You can easily modify the settings at anytime. It can be regularly done via credit card or bank transfer details through a recurring invoice.

How to enable the recurring option?

• You can set a recurring invoice for a client.
• Enable the various payment options on the recurring invoice.
• You can instantly send a recurring invoice to the client.
• Enable the “Yes” option to Accept Credit Cards and a Recurring Schedule while setting a recurring invoice.
• The client can enable, remove, or update a recurring payment option as per requirement.
• You can also disable the recurring option at any time.

Imprezz offers the best invoice software with real accounting functionality to manage all the financial operations with ease. All financial data and records remain stored in one place. Hence, you manage your taxes without worry and stress.

Conclusion

In the end, small businesses need to pick an invoicing software, which makes their work efficient and hassle-free. The software should ensure that it meets all your business need. It should quickly implement in your business operations without bringing any significant change in the functionality.

Imprezz solutions and services offer professionally secure software with excellent customer support. The team helps you guide through all the processes with ease and competence. Check out more information on www.imprezz.in

A simple and professional invoice is a good idea to spend less time on billing. It builds trust amongst your customers, and encourage your clients to pay you faster. So why is it important that you should write your invoices online?

An invoice is used for a payment request but also helps to maintain a connection with your customers. It is required for business owners to make a good impression with clients with a valid invoice number.

Your invoice speaks for the client and the job you did for them. The client needs to identify with the charges instantly. Otherwise, your invoice most likely will end-up unnoticed into a pile. Hence you will end up sending reminders for the release of the payment.

How should an invoice look like?

Many times you have noticed an invoice or bill that looks all mixed up. The reasons are bad layout and information scattered all around. Sometimes the bills are so unclear that the client wastes a lot of time understanding what they’re charged for.

It is essential that like your business, product, or service, even your invoices need to stand out from the rest. Moreover, the look and language of your invoices are critical to getting you paid on time. It should perfectly blend with the rest of your branding and the message you’d like to deliver.

At Imprezz solutions, we offer customized services for creating an invoice as per your requirement.

10 benefits of an online invoice for every business

As a small business owner, you invest a considerable amount of time creating and sending out invoices to your clients. Depending on the company or business size, this type of activity consumes a lot of time. As your business grows, so is your problem related to generating invoices and receiving payments.

However, due to the new and advanced technology, with invoice apps, you transform invoicing operations in no time. Through online invoicing, all the accounting work is easy to maintain on a regular 30 days cycle. Online invoices enable your clients to pay through various means, for instance, PayPal, credit cards, etc. on the due date.

Quick Solutions

Filling/writing invoices by hand at the end of the month is a slow task, which takes a lot of time. With online invoicing, all of the work gets done automatically. In an online invoice, you add the client’s contact information and payment terms only one time. Then the same data is automatically populated every time into the invoice with just a click of a button.

Easy for the clients

Invoices set the tone for your clients, so it needs to look professional. When you opt for online invoicing, you quickly reduce the clutter on your client’s desk. This process increases the chances that they will notice your invoice immediately before it sinks to the bottom billing pile.

The easy to understand invoice can make your client pay you faster. Imprezz helps you create a legally secure and professional invoice.

Quick delivery of invoice

Gone are the days to send out invoices through courier or speed post. An automated invoicing service allows you to send invoices instantly and on time, whether it’s a weekday or weekend. The automatic invoice process will allow you to send multiple invoices quickly once you have completed the job.

No risk of misplacing invoice

When we send invoices through regular post or courier, there is always a small risk that the invoice might get lost. Such issues further delay the payment process. When a client receives an invoice through a post, there is still a chance of losing or forgetting about the invoice.

An online invoicing system eliminates both of these crucial problems. You always have a backup copy of your invoice for later reference.

Enhanced tracking capabilities

With the use of advanced online accounting software, you get alert or notification whenever your client receives your invoice. With the use of dashboard and overview tracking capabilities, you keep a tab on overdue invoices or upcoming expenses.

It makes the work convenient, instead of sending constant payment reminders to your client. The client cannot refuse or deny any payment due to a digital record of your invoice and a valid invoice date. It helps in maintaining a clear record of transactions between you and the client.

Eco-friendly work

There are times when unnecessary paperwork takes up the valuable workspace on your desk. Online invoicing removes this problem by keeping all your invoices stored as data files on your computer. You can easily access them whenever you require them. This approach makes your work hassle-free and convenient.

Cost-saving

The less use of paper also helps to reduce the cost of invoicing for your business. The cost of the paper, postal envelopes, stamps, and postage are a few expenses that are easy to save.

All of the unnecessary costs will help you save a lot of money without additional help. With invoicing automation, there’s no paper, no envelopes, no postage, and you complete the task in less time.

Detailed reporting system

With an online invoicing system, the data remains organized due to comprehensive reporting capabilities. All of your invoices get quickly and efficiently organized by date, client, job type, or any other metric you choose.

You can effortlessly customize the invoice as per your need. With this system, you can see invoices that are being timely paid, pending payments, and even the awaiting amount. It will give a clearer picture of your business’s cash flow projections, making accounting that much easier.

Mobile Enabled

With cloud-based software, you can access your invoicing data from anywhere, even while traveling to any part of the world. You can forward an invoice to your clients right away, without having to wait to get back to the office. You can even finish your work from home with minimum disruptions and also get paid faster.

Customized invoice

Online invoices look more professional than the handwritten invoices. So many times in handwritten invoices, the chances of mistakes are more. An invoice with errors seems very improper and confusing.

Online invoicing templates allow you to make customized changes and make your organization look more updated with advanced smart technology. It presents an impressive picture to your clients about your company, products, and services.

Conclusion

Professionalism is vital for businesses to succeed in the long run. Creating professional invoices helps get paid faster and automate transactions. It rids you from paper-work and other hassles of manual invoicing procedures.

Imprezz accounting software offers an unmatched convenience in sending out GST compliant online invoices, along with all other benefits. Checkout our invoice tutorials to learn more about creating a new invoice.

Consider a godsend opportunity if a client asks for a quotation, and with a quick and right response, a business deal comes your way. A business owner needs to know the art of pricing the right quote at the right time.

Quotation usually formulates based on certain requirements, and the client generally conditions it. It is a formal document that withholds the information which offers to sell goods or services at a specific price and under specified conditions.

It allows a potential customer to understand the cost of goods or services before purchasing them. When the seller sends the quote, it engages them to the correct price. That is why quotations are mostly valid when costs are relatively stable and provide an accurate estimate for the services/goods (labour, cost of raw materials, etc.).

Sometimes due to inaccurate estimations, the pricing can go high or low, which can create severe damage to the business. With the help of a quotation, you can decide pricing for a job or order, and the customer gets a precise cost for the work.

Importance of right quotation

If a customer approaches you for a quote, it means they’re interested or considering to do business with you.

The client’s approach shows that your service has value. And you look forward to closing the deal, but no need to celebrate just yet.

For many, quotation processes seem like a mere formality, but it isn’t. Many business owners can win or lose the game at this stage. So it’s very important to handle this situation correctly.

With the right approach, quote price works in your favour, and you can get a better response. Above all, you can pitch your services at the best price as per your condition.

Why is the quotation needed?

Price quotes are an integral and essential part of any business, especially if we talk about service businesses.

• A quotation creates an understanding between customers and your business.
• Clearly explains the price, terms, and condition of your business.
• It helps a customer to make the right decision and finalize the sale.
• A legitimate and formalized way to do business with buyers is via valid quotations.
• You can structure pricing and services as per your condition.
• The process generates a transparent way of functioning between you and the customer.

What does all a quotation include?

The quotation details should be relevant to the job or service you’re planning to offer to your customer.

Standard business information: It includes information about your company name, address, the client’s details, a customer ID number, and a quote number.

Price: The pricing includes overall total and itemized entries explaining each component. The information contained is open and detailed, but not too much detailing as it becomes more confusing.

Any applicable taxes: It includes sales tax or GST of your registered business.

Due dates: The specified time indicates for delivery of the products or services.

Payment terms: Go through all the invoice payment terms options at Imprezz for useful tips on getting paid faster.

A validity date: A regular quotation date lasts for 30 days, starting from the quote date.

Terms and conditions (T&Cs): The terms and conditions should be written in plain language to avoid confusion.

E- signatures: Your and customer’s E-signature should be present, along with the date. It helps potential clients to approve quotes and provide instant receipts.

Note:- A good quote is brief yet accurate and comprehensive. Reliable accounting software helps to prepare price quotes that look professional, with all the necessary information.

 Imprezz software quickly converts your quotations to invoices. You can generate unlimited customized quotes with the help of few clicks.

The requirement of validity date

A useful quotation tool allows you to calculate the cost and the profit margin efficiently. One should know how long a quotation time is valid for? The quotation template clearly states the price and terms of your offer with a valid period, such as 30 days.

It’s advisable to use the date of the proposal as the beginning of the validity period. The fluctuations in the market don’t affect the accepted quote for that particular time. The validity period allows the customer to make a final decision within a fixed time frame.

Otherwise, in many cases, the customers negotiate and only accept the date as valid, the day they receive the document.

At Imprezz software solutions, users can customize the quotation template or use a standard quotation template. The personalized quotations are valid for 30 days from the date of issue and process your work faster.

The quotation tool includes time with a specific validity. Once the quotation period is expired, a new quotation will be needed.

When can a quote change?

A price quote doesn’t change once accepted by the customer. But sometimes, due to unforeseen conditions, the customer may change their requirements.

For example, you run a small company dealing with computers for a specific client. If a client requires machines with more GB in the new PCs, you may change the specified quotation due to upgrading.

In such situations, it’s acceptable to negotiate a price increase. In other words, it would be best if you discuss everything in detail with your client first. Hence you can provide a new or updated quote covering the changes.

Note:- If a customer rejects your quote, ask them politely for the reasons. It helps to improve your sales and to quote processes.

Conclusion

In the end, a quotation is the first formal document any customer receives from you. If you manage to project it right, that first impression will count and lasts forever.

However, a secure and transparent procedure is useful in the long term. Do opt for an excellent software tool that can help you streamline your quote and sales cycles, cut down on approval time, boost client engagement, and increase conversion rates.

Our accounting software allows you to learn and improve your quote process. At Imprezz, we help you guide through all the steps.

Do small business owners need a GST Id number, to run the business in India? As per the GST Act, if your financial turnover is above Rs 40 lakhs, then you need to register under GST. For northeastern states and hill states, the limit is ₨ 10 lakhs.

A GST or The Goods and Service Tax is a single or indirect tax applied by the Government of India. If you are running any online business or providing service like the hotel, restaurant, shopping, factories, etc., the Government charges GST.

Under the GST regime, every business holder gets Goods and Services Tax Identification Number (GSTIN) or a GST Number. Every registered person receives a unique identification number. The Tax identification number help income tax authorities to maintain records of GST dues and payments.

Note:- No organization or business can carry on business without registering under GST guidelines.

No organization and business can carry on business without registering under GST guidelines. Incorrect GST Returns entries, results in rejection of the input tax credit, in addition with penalties.

Who is eligible for the GST number?

Before applying for registration process for GST, one needs to meet the following criteria:-

• For the manufacturing sector, the financial turnover is Rs 40 lakhs or more.
• For the service sector, the financial turnover is Rs 20 lakhs or more.
• In Northeastern and hill states, Rs 10 lakhs or more.

Other requirements

A small business owner is eligible for GSTIN under these guidelines:-

1. You are located in one state but selling goods or services in another state.
2. If you are using e-commerce platforms like Flipkart or Amazon to sell your products.
3. Your business involves the export and import of things.
4. If you are generating tax invoices for your customers.
5. For the reverse charge mechanism, you are eligible for tax.
6. In case you work on behalf of the registered taxpayer.
7. Working as an Input service provider (ISD).
8. If your company involves as a Casual Taxable Payer in any event outside your residing state.
9. Operating an e-commerce site or have an aggregator business ( one who supplies service under his brand name).
10. You are providing overseas OIDAR (Online Information Database Access and Retrieval) service to India.

Benefits of registering under GST

As a small business owner, you can find many advantages of GST registration. The benefits are easy to reap in the long run.

1. The sales tax paid to the Government can come down. You only need to pay for the added value done by your business.
2. The GSTIN is basically a symbol of validity. It helps to give you identity for your clients, e-commerce platforms, government tenders, banks and financial institutions, MNCs, and more.
3. As per GST council guidelines, only one return to be filed under GST. Hence there is fewer compliance you need to follow to claim services tax GST.
4. GST has explicit provisions on the inter-state movement of goods for e-commerce brands.
5. Composition Scheme, a simple and easy scheme for small taxpayers. The scheme comes under GST for taxpayers. It reduces tedious GST formalities and pays GST at a fixed rate of turnover. It is ideal for any taxpayer whose turnover exceeds is less than a crore.

What are the consequences in case your business evades GST laws?

If your business comes under recommended guidelines of Goods and Services Tax, then applying for GST registration is essential. If you don’t follow the prescribed rules and regulations, then your business is liable to pay fine.

In some cases, you might lose your business. The reason behind it is, that various vendors, suppliers, and customers with whom you are working have to register under GST. Hence, if you are not paying taxes, then others who are working with you, will pay additional charges on your behalf. This type of work management doesn’t last for a long time.

Therefore if you are a self-employed person or have a startup business owner GST registration is a must. Even though if your annual income is less than Rs 20 lakh, it’s better to get yourself registered.

Note:- Through GST, the Government of India rates your business. The buyers and sellers of your business are well informed about the rankings.

Under Compliance Rating Score (CRS) in GST rules, the Government ranks your business as per your GST tax-paying habits. Depending on the ratings, your business can suffer badly.

How to register your small business with GST?

Registration for GST is a straightforward and easy process. With the GST portal, you can easily apply for GST registration. Several firms provide professional services for online registering your business with GST.

Imprezz solutions offer a wide range of services compliant with GST. We have multiple features that create a secure work environment for your business. From GST invoices or filing the returns, we offer assistance at every step.

Essential documents required for GST registration

To register for GST, the following documents are required:

• Company PAN Card
• Photographs (passport size)
• Identity proofs like Aadhar Card/Passport/Driving Licence
• Proof of address for your offices
• Bank details via a statement/cancelled cheque or passbook
• Certificate of association for Private Ltd Company or LLP/ OPC
• Partnership deed for partnership firms

How to file GST returns?

In India, for every business, there are a total of 37 returns to be filed every year. It includes three returns per month and one annual return.

Note:- It is only applicable if your business is covered only in one state.

But if your business is operating in multiple states, then the total number of returns filed is more. Nowadays, online and digital format is accessible to finish all the work. Nowadays firms no longer entertain paper ledger books and account books.

Imprezz software offers an easy and quick solution for its clients. Our GST Export tool assists you in exporting a GST income file, which saves a lot of time. It helps to file your GST returns effectively and on time without any delays.

How do we help?

In India, as a small business owner, it is essential to be GST compliant. At Imprezz we offer a wide of accounting software which is simple to understand and helpful to claim GST. Our company tools are highly advanced to create GST compliant invoices, customized quotations, record expenses, track inventory.

For GST tax returns, you can access income and expenses through an easy export of file for your GST returns filling.

Conclusion

Lastly, with GST registration, you can do business functions legally. It is useful to establish your brand as a trustworthy, authentic one in the marketplace. With the simplified processes at the GST portal, it has become easy to obtain GSTIN. Applying for registration to filing returns through a few clicks, the task gets completed easily.

GST registration is the first step to manage your company taxes efficiently while maintaining a clean record. Imprezz assists all its customers in a convenient, transparent, and hassle-free procedures.

Get all and more features through Imprezz, register here for a free 14 days trials.

Nowadays, making a business successful needs innovation and quick money. Your business climbs the success ladder if you get your payment money faster. In present times everyone wants to master the tricks of good payment terms to get money faster. In other words, the cash flow remains intact, and you efficiently manage the money cycle for set number of days.

The good payment terms are important for getting paid on time. There is no hidden science behind this approach. With the use of simple and secure financial tools, you can get your money faster.

Regular cash flow is the most important factor in managing a business. It provides a promising picture to the investors regarding the company’s growth. But to create such an image, one needs to have a steady cash flow.

The biggest concern faced by many businesses is the timely payment of invoices by clients within 30 days. Even though after issuing invoices, most companies don’t get timely payment for their services. And to keep up with a positive business cash flow, it is essential to get money faster.

5 Effective payment terms to use

1. The art of writing payment terms in invoices

It is necessary to learn how to write proper payment terms in invoices. Otherwise, if such things are left unattended, it may cause major damage to your business.

Firstly, the payment terms should be short and precise. It should keep the customer’s attention to stay alert. And also conveys a clear signal to the customer to pay up on time.

Secondly, the late fee terms/rules mentioned in the invoices helps the client to understands them correctly. Similarly, offering an incentive to the customers is one of the best options.

It is helpful to secure a better payment term for your small business. For example, you can offer free shipping or new discounts for future business.

Thirdly, offer a variety of payment methods to the clients. For example, PayPal, credit card and even bitcoin etc. Allow the clients to opt for comfortable payment options. A trusting payment method ensures the payment of invoices is on-time.

Imprezz financial tool has created a perfect blend of useful technology for generating effective invoices. The trusted invoice tool allows the customer to develop secure and customized invoices for easy payment. It also helps to keep a tab on accounts receivable of payment.

2. Effective payment terms reminders

Sometimes a client cannot make timely payment of invoices due to various reasons. If you give a certain amount of time extension for the payment, then it may cause further delay. The client might forget about the invoice at times.

Sending friendly reminders to clients is a simple way of getting paid on time. One should email or send SMS to the client before the deadline of the invoice.

Such reminders about the pending invoice do help in up-to-date processing of the payment. Besides, sending out reminders also allows the owner to up-sell his products and services.

Imprezz software tools offer innovative reminder options to their customers. Our service ensures to optimize digital communication processes for the customers by using the Dunning process.

The practical option allows companies to control the reminder messages for payment defaulters. The emails sent to your customers inform them about the payment failure. It suggests them to make the payment or update the payment method.

3. Easy way to understand Dunning Process

With the use of this feature, you can send email reminders to your customers. It helps them to update payment details and schedule payment retries at intervals. Hence it ensures money is easy to recover. Dunning applies for various payment options.

• Online payments
• Offline payments
• Direct debit payments
• One-time payments

4. A good customer relationship

A good customer relationship helps to prioritize the payment and quick release of the money. To create a valuable customer relationship, proper etiquette and minding manners help release fast payments. While generating timely invoices, this emphasis of words looks quite influential.

Using simple words like ‘please’ and ‘thank you’ for customers looks professional. It further helps to reduce payment delays and conveys the customer that the company keeps its interest as its priority.

A specific discount on early payment of invoice helps to improve and strengthen the customer’s relationship with the company.

Our company Imprezz creates payment reminders for their clients as per the requirements. Any payment delays are quickly informed to the customers by the efficient tool. You can send invoice reminders manually, through call or the software system sends automatically for the clients.

5. Personalized text payment terms reminders

Regular payment delays by clients further delay the set financial goals for your company. Hence it affects the delay in salaries of employees. So pushing clients to release payment on time becomes challenging at times.

Defaulters, payment reminders, late payment notices, and other traditional money collection approaches result in huge expenses and reduced profits. Therefore digital messages for payment reminders are an efficient, effective, and quick way to reach out to the clients.

With the use of compelling text messaging platforms, you can automatically send payment reminders to late payers. Personalized messages, along with account details, follow up confirmations, are a few of the helpful methods. Imprezz solutions allow customized invoices payment terms to their clients.

Similarly, customized text reminders create a sense of urgency. It reinforces the value of timely payments to customers. Due dates and other useful information included moving customers to submit their payments on time.

Nowadays latest automated messaging software templates allow you to create a message with full instructions. The concise text message includes the crucial details which are easy to follow up by their customers.

Various payment reminder/ message

• Soft Reminders
• Strong Reminders
• Final Reminders
• Informing about legal action
• Thank you messages

Invoicing software tools are helpful

With the use of invoicing software tools, payment management saves a lot of time. It reduces manual work, saves time, and is automated on days to pay.

Checkout www.imprezz.in to create personalized invoices securely for small business owners.

• Invoices are useful in checking the company’s gains and losses with automatic currency conversion tools.
• It generates automatic bill payment on the set due date.
• You have control over your cash flow.
• It helps to make better business decisions.
• The software offers customized and quick solutions for all the payment problems.
• Advance payment options are available.
• Automatic late fee and payment reminders.

Note:- With the help of invoicing software tools, cash flow is regular and hassle-free.

Conclusion

Lastly, many companies face payment delays due to various reasons. But advancement in technology has made this an easy task, now you get paid faster. With effective and innovative ways, you can offer your client with good payment terms. It helps to create a satisfying customer relationship for future business.

A streamlined invoice process is necessary to stay in the competitive world.

Timely payments largely depend on the ability to make customers happy. To achieve this, excellent services and quality relationships is the key. Keep things short and straightforward when dealing with clients. A wide variety of features regarding software tools offered by us ensures that you get paid on time.

Imprezz is the place to explore to understand the accounting software.