Every month suppliers will be required to upload their invoices to GSTN portal and those will be matched with the purchases from customers. So, invoice matching is going to be a monthly affair for businesses. Use of IT systems for bookkeeping and tax compliance work will be seen even in many small and medium…
If sell products or services in India, you must be issuing invoice to your customers. Every business in India needs to know about the new GST invoice rules going forward. In this article, we’ve explained how to create GST invoice, various components that must be there on invoice, format of GST invoice and much more.…
ProfitBooks offers the simplest way to create professional invoices. However, creating and sending an invoice to your customer is a job half done. Most of our users tell us that it takes them average 18 days to receive money once the invoice is sent. So, to solve this problem, we had integrated Instamojo payment gateway with…
When I first started my business, I was sending out invoices with vague payment terms like “Due upon receipt” and wondering why I was constantly chasing payments. After years of trial and error (and a few scary cash flow moments), I’ve cracked the code on writing invoice payment terms that actually work. Sometimes, your invoice…
Setting up Taxes in ProfitBooks is easy. Just to go Accounting menu and click on Taxes. In this article, we’ll explain how to setup Service Tax, Swacch Bharat Cess and Krishi Kalyan Cess: Important Notes Here is a quick calculation for new service tax rates that is effective from 1st June 2016. Taxes are…
Now, get paid faster with ProfitBooks. You can now add a payment link to invoices when you email them to your customers. This guide shows how to integrate your Instamojo account and start receiving payments directly in ProfitBooks. Meet Instamojo Instamojo one of the best payment gateways in India. You can enable your customers to pay you…
I have been working in my company for more than 12 years now. And I still see entrepreneurs making the same invoicing mistakes I made when I started. Those mistakes cost me thousands of delayed payments and countless hours chasing clients. Look, creating professional invoices isn’t just about getting paid. It’s about setting the right…
If you are providing your services to foreign clients, you might want to create invoices in currency that is different than your base currency. ProfitBooks supports multi currency accounting and invoicing. While creating new customers or vendors, you need to specify their currency & ProfitBooks will use that currency in invoices or other vouchers. Lets…
Lets first understand What is Proforma Invoice and where it is used. According to this definition on Investopedia, Proforma Invoice is like a preliminary bill of sale sent to buyers in advance of a shipment or delivery of goods. Typically, it gives a description of the purchased items, notes the cost, as well as other important…
ProfitBooks makes it very easy to create beautiful invoices. Lets see how to create an invoice for the first time. With ProfitBooks you can create 3 types for invoices: Credit Invoice (Used when the payment is expected in future) Cash Invoice (Used over the counter sales) Time-Based Invoice (Used for billing against tasks) Lets see how to create…