In any business, small or big, there is a need to prepare an invoice for various reasons. A bill is a written document detailing goods or services sold to a customer. The bill is prepare by the service provider and handed over to the buyer. In olden days, bills were prepared manually by entering all the details related to every business service. But with advancements in technology, you can use a billing software that will help you prepare your bills, speed up the process and also improve accuracy. A bill will contain the essential details like name, address, contact details of the seller and the buyer. There will be details including bill number, cost of product sold or service offered, tax details, and payment instructions for easy tracking.
Features Offered by Billing Software
Online billing software available in the market offers many features that make business life easier. You only have to install the software once and you can generate bills in future.
- Invoice Generation – This is the basic feature of every billing software in India that will generate a professional invoice by extracting the project, time and customer details.
- Customer record creation – Some advanced billing software helps in summarizing customer details and purchase information. The smart system will separate the details under each customer’s name for easy retrieval and reference.
- Processes credit cards – A billing software built for a business like a restaurant will process custom credit cards and also provide a reminder on payments due.
- Customized Template – This feature will allow the business to prepare an invoice and customize it based on the customer’s needs and specifications. Thus this one time exercise will make future bills quick and accurate.
- Tax Report Generation – The best online billing software should be able to generate tax reports. Dependence on any external system for generating tax reports can be prevented with the help of this feature.
GST Billing Software
It’s been 3 years since the Goods and Services Tax (GST) was implement by the Government of India and small businesses want to set things up to manage their taxes. GST ensures a very minimal cascade of taxes which makes it an inflation- Creates anti-law. With the help of GST, there has been a huge reduction in the cost of doing business. Free GST billing software allows users to calculate GST and file tax in no time. The time has come and it is necessary that all businesses produce GST invoice for every business transaction.
How to Choose the Right Free Billing Software?
- Make sure the software is secure and whether it will keep your information confidential.
- Next comes accessibility. It must be ensured that the billing software is compatible with different platforms and can be accessed through laptops, PCs, smartphones irrespective of the operating system.
- Then there is the ability of the billing software to integrate with existing ERP and other software to keep the business afloat.
- It should be able to get all the tax-related details and save the business time in accounting. A smart system is important.
- Finally, check whether it is lightweight and responsive so that even a layman or a simple person can easily learn to use it.
Benefits of Billing Software for Small Business
Billing software will not only provide automated billing, but can also help in many ways. Such as handling finances in a better way and making every small business profitable.
There is many free online billing software that saves costs and is ideal for small business players. But also, these can reduce manual entry time, and thus you do not need to appoint a person specifically for that purpose. Therefore, you also save the cost of human resources. Generating an accurate bill at the cost of nothing is a boon for business owners.
Intelligent Management System
Details of each customer can be updated only once on the software and the customized solution offered by the software will carry over the details from the next time. This will allow the business to avoid having to enter the customer address every time and focus on trivial things like other personal details, which must be in manual entry. It also saves time and a lot of efforts, making it an effective management system.
Error free means mistake free
System calculations are error free in this online software. The only possible error that can occur is when data is enter into the system. But the smart features of the billing software will extract the data from the customer’s file online. Therefore, the calculations are done without any errors making it a hassle-free process.
Safe and secure
The online systems are secure and all these software are encrypt which will not let any confidential details out. Both businesses and customers can feel assured about data security.