Benefits of Using Invoicing Software. Simplifying your company’s accounting

Posted on August 27, 2021 by admin

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The invoicing computerized solution is designed to generate bills by sellers for products or services sold to their customers. Creating invoices by hand is a cheap method that brings companies, including small businesses, many disadvantages. Not organized documents and kept in no single place makes it difficult to recall the invoices, perform queries, create reports, generate statistical data, and make other operations. Therefore, organizations, even small businesses, prefer to use invoicing or billing software instead of the manual writing invoices.

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The main benefits of using invoicing software are:

organizing and storing data, including billing data, in a single place;
availability of many different features such as auto-fill date, etc.;
easy creating and sending invoices to customers;
customizing the templates of invoices for each product and service;
creating customized invoices;
reduce the paperwork and less using of paper;
saving the employees working time and improving their efficiency;
ability to save the products and customers information for the later recall;
improving the accuracy of invoices;
ability to clearly show details of the product and price;
automating the process of creating invoices and reducing business costs;
ability to handle more clients and increasing the client base;
the ability of invoices to be easy recalled and retrieved;
ability to create invoices from anywhere via the online invoicing app;
sending out the multiple invoices simultaneously;
keeping records and easy finding not paid transactions;
keeping on the cash flow and tracking the business expenses;
identifying customers who need to make their payments;
controlling payments and receiving payments timely;
ability to send invoice reminders;
scheduling invoices for being sent automatically;
ability to attach receipts to invoices and photos to receipts;
generating various types of report and financial statements;
saving money on paper, printing, and postage via using online invoicing or billing software;
integration with the company’s accounting system;
ability to generate multilingual and multi-currency invoices;
minimizing the invoice data entry errors;
simplifying the company’s accounting.

Using the billing software is a wise investment that allows any organization to save its time and money.

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Everything You Need to Know About GST E-invoice

Posted on August 25, 2021 by admin

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What is an e-invoice and an e-invoice under GST?

E-invoicing, often known as electronic invoicing, is a GST-compliant electronic authentication technique. All B2B and export invoices generated by a business must be registered with the government system, the Invoice Registration Portal (IRP), and each invoice must be assigned a unique identification number called an Invoice Reference Number (IRN). In addition to IRN, the IRP will create a digitally signed QR code with selected invoice details and digitally sign the invoice data that is provided.

As a result, an e-invoice is a document that contains an IRN and a digitally signed QR code printed on it.

After an IRN has been generated and an invoice has been authenticated, the details of the invoice must be made available on the GST and EWB portals.

Who requires the creation of an E-Invoice?

Based on AATO (Aggregate Annual Turnover):

E-Invoice has been gradually introduced in the country, based on the companies’ aggregate annual turnover. On October 1, 2020, the first phase went live for companies with a turnover of more than Rs.500 crore. On January 1, 2021, the second phase went live for enterprises with a turnover of more than Rs.100CR.

On the basis of the fiscal year:

AATO in any preceding Financial Year from 2017-18 onwards must be evaluated to determine the applicability of the E-Invoicing obligation, according to Not. No. 13/2020, as amended by Not. No. 70/2020 and Not. No. 88/2020. The AATO is calculated based on GST returns. On the E-Invoice Portal, the GST System has also made it possible to examine the applicability.

Based on the Entity Type:

Suppliers are the only ones who can generate an e-invoice. E-Invoices cannot be generated by recipients or transporters. On behalf of the sellers on their platforms, e-commerce operators can generate e-invoices. E-Invoicing is something that E-commerce operators should be aware of.

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Who doesn’t need to create an E-Invoice?

According to GST notification No. 13/2020-Central Tax dated March 21, 2020, the following individuals are exempt from issuing e-invoices:

Company that provides insurance.
A financial institution.
Financial establishment.
NBFCs.
GTA.
Passenger transportation service provider.
Admission to the screening of cinematograph films in multiplex screens is provided by a service provider.

What kind of documents must be reported to the GST system as part of the E-Invoicing process?

The following papers must be reported to the e-invoice system by the taxpayers.

Supplier’s invoice.
Supplier’s Credit Note
Supplier’s Debit Note

As a result, E-Invoicing does not require the reporting of Bills of Supply and Delivery Challan/Job Work Challan.

How can I create an electronic invoice?

The taxpayer’s system generates an invoice, which is subsequently transmitted to the Invoice Registration Portal (IRP) for approval. The invoice data is updated with IRPs digital signature and a QR Code, as well as the Invoice Registration Number, once it has been authorised (IRN). An E-Invoice is what this is called.

What should an e-invoice receiver look for?

The extra-information relating to invoice reference number will now be included in the e-invoices received from suppliers (to whom the mandate applies) (IRN). As a result, recipients of e-invoices must be aware of the mandate’s applicability to their vendor list. Not only that, but the receivers must also know ahead of time the documents they will get.

What influence will e-invoicing have on the procurement cycle?

As a recipient of standard e-invoices, the accounting systems can now automate the recording of purchase invoices, resulting in increased efficiency and accuracy of data in source systems. Furthermore, because IRN is unique to each invoice, it might be useful for identifying similar invoices and hence for reconciliation.

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Zoho Account to access the client portal

Posted on August 18, 2021 by admin

Do customers need a Zoho Account to access the client portal?

It is not necessary for your customers to have a Zoho account. Once you send an invitation to your customers to access the portal, upon accepting the invitation they can login to the portal by using the email address with which they were invited.

Can we delete the comments added in the client portal?

No, you cannot delete comments added in the client portal.

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How do we check if our client has viewed the estimate/invoice have sent him?

You would receive a notification in the bell icon on the top right corner stating that your customer has viewed the invoice/estimate.

Also you can simply click on the particular estimate or invoice and check if it has been viewed by the client. A tiny eye icon on the right corner suggests that the client has seen it.

Alternatively, go to the estimate or invoice tab on the home page of Zoho Invoice. Click on the drop down next to All estimates or All Invoices and select Client viewed.

You can now see only the client viewed estimates/invoices.

Will be able to change customer’s email address? Will he now able to view the old invoices in the client portal?

Yes, you can change the email address of a customer. Send him a portal invitation again using the new mail ID, using which he can create a password and log back into the portal. Once this is done, he can view all old invoices you’ve sent him

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What is the use of client portal

Posted on August 18, 2021 by admin

What is the use of the client portal?

The client portal is an organized way to view the invoices, estimates and retainer invoices sent to your customer. If you’ve enabled the client portal for your business in Zoho Invoice and configured it for your customers, they can view their transactions with you by logging into the portal. This includes viewing and accepting/declining their documents, adding comments to the document and making online payments.

Can I customize the portal invitation mail content?

Yes, you can. Here’s how:

Go to Settings icon on the top right and select Email Templates.
Navigate to Client Portal Invitation and select Show Mail Content .
Now you can edit the text and click Save after you’re done.

I am getting a “Portal name already taken” message.

This is because the name that you have specified for your client portal is already taken by another Zoho Invoice user. Since portal name has to be unique, you need to specify another name for your client portal.

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Can I change my portal name? Will this cause any impact?

Yes, you can change your portal name. To do this,

Go to Settings – Organization Profile
Click on Change Portal Settings

Make the necessary changes and click on Save.

Now, the portal URL is modified accordingly. You will have to invite each of your customers again in order to enable them to view transactions and make payments through the portal.

Can I set a password for the client portal? If yes, how do I do it?

Yes, you can. Here’s how you can do it:

Open the contact for whom you wish to set the portal password.
Click on Configure Client Portal, if you have already enabled it for the customer. If not, click on Enable Client Portal.
In the pop-up that follows, you can set the password by clicking on the Set Password option.

Note: Using this option, you can set passwords for the contact as well as the contact person associated with the contact, by checking the box next to the contact or contact person.

An alternate method for setting portal password for the contact person is by opening the gear icon beside the contact person’s name, clicking on Edit and typing in the password (provided you have checked the box Enable portal access).

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Once the password is set, the contact and/or the contact person will receive an email with the username and the password.

Note: If you haven’t set up a password, the contact will be asked to set a password of their choice.

Also, once your client logs into the client portal with the password you have set for them, they will have an option to Reset Password anytime later.

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Brexit FAQ: How prepared are you?

Posted on August 16, 2021 by admin

Q. What is Brexit?

Brexit stands for “British exit.” It refers to the United Kingdom’s decision to leave the European Union. On June 23, 2016, the UK voted on the Brexit referendum, and the result was a slight 51.6% majority in favor of leaving the EU.

The UK officially left the EU on 31 January 2020, which marked the beginning of a transition period that is set to last until 31 December 2020.

Q. Why has Brexit taken so long?

David Cameron, the Prime Minister at the time, campaigned for Britain to remain in EU. After the referendum results, he resigned. To avoid leaving the EU without a deal (known as “hard Brexit” or “no-deal Brexit”), the government provided an extension twice to create time for negotiations.

A deal with the EU is important. No country has ever left the EU before, so this has created a lot of issues for the UK parliament and EU government to work out. Through negotiations, the UK hopes to retain a thriving economy and appease those that were not in favor of leaving the EU. Meanwhile, the EU provides its member countries with certain benefits, like trade agreements and the freedom for EU citizens to travel from country to country without strict visa requirements. The EU government does not believe it’s fair to allow the UK to leave but still hold on to those same benefits.

After Cameron stepped down, Theresa May took over the Prime Minister’s position. While in power, she aimed to pass the deal which she had negotiated with the EU, called the Brexit withdrawal agreement. After parliament rejected this proposition three times, May stepped down from her position on June 7, 2019.

Q. When is Brexit happening?

The UK already left the EU on 30 January 2020 at 11pm (BST). At the moment, the UK is in a transition period that will end on 31 December 2020.

Q. Is the withdrawal agreement completed? What does it cover?

Yes, the withdrawal agreement has been decided. It sets the rules for the UK to leave the EU in an orderly manner. The document covers information on common provisions, citizens’ rights, problems due to separation across borders, a negotiable transition period, financial settlement, and more.

If there is a “no-deal” Brexit, there will be no withdrawal agreement.

Q. Will a no-deal Brexit happen?

As the end of transition period draws closer, the UK is facing another no-deal situation. Without this agreement in place, the EU’s laws and other agreements will no longer be applicable during interactions between the UK and the rest of the EU.

In the absence of a deal, the EU will treat the UK as a ‘third country,’ and trade between the UK and the EU will be regulated by the World Trade Organisation (WTO). This sudden change in rules may lead to higher trade tariffs.

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Q. How else will Brexit affect trade?

The consequences of the UK leaving the EU will depend on how trade costs change post-Brexit. There are two scenarios in this situation. One, the UK could enjoy the same status as that of Norway with respect to its EU trade relations. Norway has a free trade agreement with the EU, which means no tariffs. It is also a member of the EU single market and complies to the policies and regulations in place to reduce non-tariff barriers.

Two, the UK is unable to cut a trade deal with the EU. Should this be the case, then following Brexit, trade between the UK and the EU will be governed by the World Trade Organization’s rules.

Post-Brexit, the UK will no longer be a part of the EU free trade area. This situation will have a spiralling effect. A few of the affected areas will be the import and export of goods and services, the employment of EU citizens in the UK and vice versa, transport and logistics, copyright, trademarks and patents, environmental industrial standards, and the transfer of personal information across borders.

Operation Yellowhammer mentions the worst-case scenarios in the event of a no-deal Brexit. Some of them include new immigration checks, an increase in prices for gas and electricity, and interrupted financial services across borders. Petroleum prices and the flow of data will also be disrupted.

Q. How will Brexit affect small scale business?

Small and medium scale enterprises (SMEs) are preparing themselves for Brexit however they can. The following are a few key areas that will be affected the most:

Employment: Tighter immigration rules are likely to raise concerns when it comes to talent acquisition. Small businesses have to revamp their skill strategies before hiring. Reports say that there has been a drop in the number of EU nationals joining UK based companies. The uncertainty caused by Brexit is causing a skill shortage across the country.

Finance: The Bank of England believes that UK banks can manage the turmoil due to Brexit. However, this would cause market fluctuations, thus restricting the banks ability to lend money to businesses. To ease this issue, the UK government might establish the UK Shared Prosperity Fund (UKSPF). The responsibility of this fund is to fight social inequality by raising productivity in economically backward areas of the country.

Growth: The UK was one of the fastest growing economies amongst the G7 countries until the June 2016 referendum was announced. The International Monetary Fund (IMF) has predicted that the growth rate for the UK will remain just above 1.5 percent as long as the UK leaves the EU in an orderly fashion. The sectors which are most concerned with growth are import and export firms.

Q. How long will it take for my business to adapt to these changes?

It is difficult to be specific about the time frame, although reports suggest that an average of 15 months is required to prepare for the change. The EU states an ideal period of nine months. Businesses will be in a transition period until the end of 2020.

If the UK walks out without a deal, the transition period for businesses will remain uncertain. It is important that businesses start planning and setting measures to cope with the change.

Q. How will Brexit affect UK businesses with mostly UK customers?

All businesses in the UK will be affected in some way or another. So, all businesses must prepare to make modifications to their business processes. For example, if you are a product manufacturing company serving UK customers, consider whether your parts are imported from outside Britain. Operation Yellowhammer clearly states that there could be import delays because of HGV congestion. Delays can even occur in custom clearance areas. Owners may now have to seek replacements from local suppliers to keep their business going.

Service based companies, like marketing agencies, may be able to serve only domestic customers. There might be delays in sharing data until GDPR regulations are changed because some businesses may hold personal information on their EU employees that will no longer be permissible to share.

Aside from finding measures to overcome potential problems, the scope of business opportunities will also decrease. Businesses should consider this when drafting their preparedness plans.

Q. What is the Northern Ireland Protocol?

This means that Northern Ireland will comply with the regulations set up by the EU and will also follow the VAT rules during the movement of goods to, from, or within the Northern Ireland region.

However, Northern Ireland will continue to be a part of the UK’s VAT system. During the exchange of services, HMRC will collect VAT and revenue in the Northern Ireland region. If the businesses in this region are already VAT registered, then they do not need to register separately for the sale of goods within Northern Ireland.

Q. How will VAT be applied on goods exchanged between Great Britain and Northern Ireland?

During the exchange of goods between Great Britain and Northern Ireland, the applicable VAT regulations will stay the same. Sellers will charge their customers VAT on invoices, but sellers cannot reclaim it as input VAT. The customer can produce this invoice to reclaim the levied VAT as input VAT.

If businesses need to move their own goods from Great Britain to Northern Ireland, VAT will be applicable and it will be counted as output VAT in the VAT return. On the other hand, when businesses move their goods from Northern Ireland to Great Britain, then VAT will not be applicable unless the goods need to be sold.

Q. What is postponed VAT accounting?

In the Brexit Omnibus Bill 2020, one of the measures introduced is postponed VAT accounting. Once the UK leaves the EU on 31 January 2020, VAT and customs rules will be applicable on goods imported from 1 January 2021.

In the post Brexit scenario, you wont be required to declare the import VAT beforehand. Using, Postponed VAT Accounting, you will be able to declare and recover import VAT on goods on the same VAT return form. It will be applicable for goods imported into Great Britain from anywhere outside the UK and into Northern Ireland from anywhere outside the UK and the EU.

If you are not prepared to pay at the port, you can opt for postponed VAT accounting. You can record the import VAT in the VAT return under the reverse charge procedure. You may need to notify HMRC before you activate this process for your business. You may also be required to mention the EORI number and VAT number on your customs declaration form.

Q. How will Brexit affect business travel to most EU countries after the transition period?

If you are travelling from the UK to the EU, the UK passport holders travelling to the EU for work will have to follow the regulations set for the entry of personnel from a third country or non-EU nation. Visa-free travel is possible for UK passport holders visiting specific countries for certain business activities. This usually includes meetings with clients or attending conferences related to trade or work. Anything apart from this will require you to present your work visa.

You may need to confirm the purpose of your travel, show suitable arrangements for accommodation and funds, confirm that you have at least six month left on your passport before its expiry, and make sure that the trips are not more that 90 days in 180-day time spans.

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Different options to create and send recurring invoices

Posted on August 14, 2021 by admin

Follow these steps to customize how and when recurring invoices are sent out.

Click on the gear icon on the top right corner and select Preferences from the drop down.
Now click on Recurring Invoices, here you can select how you want to handle recurring invoices,

Create Invoices as drafts – Your recurring invoices are only saved as drafts. You can review them, make changes and send them out manually.
Create and send invoices – Your recurring invoices are sent out to the customers for payment automatically once they’re created.
Create, Charge and send invoices – The customer’s credit card associated with the recurring invoice is charged automatically and invoices are sent out for their reference.

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How Zoho Books Works |Getting Started| Help|

Posted on August 14, 2021 by admin

Zoho Books is cloud-based smart accounting software which takes care of all your accounting needs. To fully understand how Zoho Books works, go through modules below in the given order.

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Accessing Zoho Books

To access Zoho Books, you’ll have to sign up for the free 14-day trial period during which you can test the product for free. The free trial version of Zoho Books contains all the features in the Professional plan of Zoho Books. If you are already a registered user, then you can directly log in to Zoho Books. Learn more.

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Plans

After your free trial expires, you can subscribe to any one of the paid plans to continue using Zoho Books. Learn more.

Migrating from another software

If you are migrating from another software to Zoho Books, you would need to import various modules such as the opening balances, items, customers, vendors, and sales and purchase transactions. Learn more.

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Dashboard

The Dashboard will give you a clear picture of your company’s finances. It gives you an overview of the Total Receivables, Total Payables, Cash Flow, Income & Expense, Top Expenses, Projects, and Bank & Credit Cards. Learn more.

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Opening Balances

Before you start accounting with Zoho Books, you would need to import the closing balances of your previous financial year as the opening balances for the current year. Learn more.

Customize your Zoho Books account

Set up Zoho Books as per your business needs. Learn how to update your email address and password, change the theme of your organization, change the default organization, and various other functions in Zoho Books. Learn more.

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Items

Items are the goods or services in your organization. Add or import items and price lists into Zoho Books. Learn more.

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Customers & Vendors

Add your customers & vendors in Zoho Books to create various sales and purchase transactions for them. Learn more.

Start Invoicing

Create and send invoices to your customers. Receive payments for all the invoices online or manually mark them as paid. You can track all the payments received in different accounts and also record partial payments for invoices. Learn more.

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Sales transactions

Create different sales transactions for your customers, such as:

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Purchase transactions

Create different purchase transactions for your vendors, such as:

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Accountant

The Accountant module takes care of all accounting-related aspects in Zoho Books. This module consists of:

Settings

Configure general and module-specific settings of your organization. You can configure Users & Roles, Currencies, Templates, Reminders, Reporting Tags, Automation, Data Backup and Domain Mapping. Learn more.

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Banking

With the Banking module, you can learn how to set up your bank or credit card account in Zoho Books, receive bank feeds, reconcile transactions, and perform various other banking operations. Learn more.

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Banking

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Transaction Approval

Transaction Approval allows you to verify and approve the transactions that your employees create in Zoho Books. You can choose which users get access to this module by giving them the required level of access. Learn more.

Time Tracking

The Timesheets module is for businesses that charge their customers based on the time spent in finishing a project. Record time using timesheets and bill your customers for the projects you create for them. Additionally, the Client Approval allows you to get your time entries verified and approved by the clients you’re working for. Learn more.

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Documents

The Documents feature in Zoho Books will help you streamline and store all your documents in one place. You can upload any document like receipts and attach them to transactions like expenses or bills. Learn more.

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Client Portal

The Client Portal allows your clients to keep track of all the transactions that have taken place between them and your business. Bid goodbye to lengthy emails and collaborate efficiently. Learn more.

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Integrations

Zoho Books can be integrated with various third-party apps as well as its own apps like Inventory, CRM, etc. You can also integrate Zoho Books with multiple payment gateways to receive payments from your customers. Learn more.

Web Tabs

Web Tabs are similar to browser tabs, but accessible within Zoho Books. It enables you to access web pages or applications that provide you with an embed URL, to be embedded within other applications. Learn more.

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Checks

Pay your vendors by writing and printing out a check directly from Zoho Books, ensuring a secure form of payment. Learn more.

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Reports

The Reports module in Zoho Books contain 40+ reports related to your business, accounting and taxes. Learn more.

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Manage Accounts Receivable remotely using an online invoicing tool

Posted on July 9, 2021 by

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Remote work has been steadily on the rise over the past decade. Recent research by GetApp found that remote work nearly quadrupled over the past 10 years. With added impetus from the COVID-19 situation, remote work has become the new normal for many workers. This shift may be here to stay—a recent survey by Gartner found that 74% of CFOs intend to shift some employees to remote work permanently.

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As a business owner, your primary concern about remote work may be the productivity of your employees. The good news is that there’s a lot you can do to help them be productive. If you put the proper tools in place to allow them to carry out their usual tasks efficiently while working remotely, they’re more likely to show the kind of productivity you’re looking for.

This is especially true for Accounts Receivable, which is an area where many businesses end up using Excel for invoicing. A 2017 article by Small Business Trends revealed that a whopping 69 percent of small businesses trust spreadsheets to track their invoices and spending. The reasons are obvious—Excel is good with numbers. Calculations are easy, and it’s simple to manually correct small errors like an item value that’s entered wrongly.

But for an invoicing team to function remotely, it needs more than a tool that can calculate. Team members need to be able to send estimates and invoices, collect payments, share insights and information easily, and most of all, stay up to date. This is where spreadsheets tend to fail, and where online invoicing tools can help.

In this article, we’ll look at the different aspects of the invoicing process and how online invoicing tools offer an edge over Excel for remote work.

1. Collaboration

In a traditional office setting, a lot of information gets exchanged during face-to-face interactions. Since this is out of the question with remote work, it’s important to ensure that your team members are still able to collaborate and keep the show running.

Shared notes:

If messages regarding financial transactions are exchanged via collaboration tools like a chat group or email thread, it means they are not linked with the corresponding transactions. As a result, your team members have to go back and forth between their messages and their invoicing tasks to get the right information.

Since online invoicing tools are designed for a multi-user environment, they allow your team members to communicate in a space that’s connected to the work they’re doing. Users can record important details regarding invoices or estimates as comments that can be viewed by other users in the organization.

Shared access:

With Excel, it’s challenging to provide your team members with access to the information they need, while maintaining the security of sensitive financial information. Online invoicing tools, on the other hand, allow you to give users specific role-based access—you can define what they can and cannot view or modify.

Shared reports:

Collaboration is not just about conversations—it’s also about making sure everyone is in the loop. Online invoicing tools allow you to schedule sales and other reports to be automatically emailed to your team members. This helps them stay up-to-date on the team’s activities, wherever they are.

2. Organization

If your company does invoices in Excel, each invoice has to be created in a separate file for recordkeeping and sending to the customer. Organizing separate files for each invoice means a lot of nested folders, which makes it hard to find the individual files later. A better solution would be a central repository where all the invoices are stored, searchable, and available for your team members whenever they’re needed.

Online invoicing tools provide this setup by default—since they are cloud-based, all the transactions are saved on secure servers, and team members with permission to access them can find and view them instantaneously.

3. Keeping track of invoice numbers

Accidentally duplicating invoice numbers can cause a huge and possibly expensive headache for your company. Besides making it difficult to match up incoming payments, it can also cause confusion during the end of the fiscal year and tax season.

Keeping track of invoice numbers becomes more challenging during remote work when employees are working less closely with each other. You can avoid duplication by assigning number batches to different staff, but that requires an extra layer of manual coordination, and it makes it more likely that you’ll have gaps in your invoice numbers (which in turn makes it harder to check for duplicates).

Online invoicing tools eliminate this problem by centralizing the invoice numbering system. Once you set up how you want the invoices to be numbered, the application ensures that all your invoice numbers are unique and continuous, even if multiple users are creating invoices concurrently. This eliminates gaps and duplicates, making it easy for you to find and match transactions.

4. Errors in transactions

Excel, as good as it is for calculation, can’t keep track of your customers and items. When you create invoices in a spreadsheet, these details are mostly copied from other sources, like emails or previous transactions. It’s easy for errors to happen during this copy-paste process, especially if you have a high volume of invoices. If you find one mistake, you can advise your team members to be more careful. But if you see these errors happening often, maybe it’s time to question the tool!

Online invoicing tools give you the option to save your customer and item details separately from the individual invoice. This means that while creating invoices, you just need to pick the right customer and select the products from a list. This eliminates a lot of the errors that can happen when you type these details each time manually.

If there are certain fields that must be filled in on all your invoices, an online invoicing tool allows you to actually make them mandatory.

In short, you are setting rules to make sure everything goes right. This ensures that your invoices are error-free when they reach the customer, even without having a second staff member review them.

5. Tracing errors

If you notice an error in one of your invoices that’s already been sent, it may have already caused a ripple effect and caused errors in other invoices too. When Excel is used for invoicing, it’s very difficult to figure out which invoices have been affected. If you can’t search your files for the specific issue involved in the error, tracking down the affected invoices is time-consuming at best, and at worst, may not even lead to finding them all.

Because online invoicing applications record a time-stamped history for each transaction you create and save everything in a centralized location, you have many more options when trying to track down an error. Once you notice an error in a transaction, you can cross-reference that with other transactions created around the same time, using the same new product, addressed to the same customer, created by a specific user, or anything else that may be involved in the error. Since online invoicing tools come with elastic search functionality, you have the power to narrow down your search based on any of these criteria.

Also, online invoicing applications offer something called an audit trail. It’s just a record of each version of the invoice so that you can compare two versions of the same invoice to see what has changed and when. As its name suggests, this can be very useful during audits, but it’s also helpful for tracking down errors.

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Right Time Tracking Tool Can Keep Your Business Ticking

6. Approval process

Many businesses have a process for approving sales transactions before they’re finalized. For example, the person who creates an invoice might run it by their supervisor, then by the sales manager, and only then send it out to the customer.

In companies that use Excel for invoicing, these approvals usually happen over email, which can consume a lot of time even under normal conditions. In a remote work environment, where team members can’t follow up on these emails with face-to-face conversations, you can end up with delayed invoices and even delayed payments.

An online invoicing application lets you define your approval hierarchy and have all of your invoices automatically sent to the next approver. At each stage of the approval process, the submitter and approver are notified about the invoice’s status, eliminating the need for follow-up calls and emails.

Does Zoho Invoice support barcode scanning? If yes, how does it work?

7. Project invoicing

If you charge customers based on the time you spend on their projects, Excel invoicing becomes more challenging. Each employee involved in the project has to log their time, then send it over for the AR team to apply the correct hourly rate and generate an invoice. For consultants who generate their own invoices, this whole workflow falls on one person; in larger organizations, it may be spread out among so many staff members that it creates another communication hurdle. In both cases, the manual calculations offer another opportunity for error.

Most online invoicing solutions come with extensive time tracking capabilities. If you employ temporary workers or independent contractors, you can give them access just to log their time without viewing any information about the customer or project. For your on-staff employees in leadership positions, you can use role-based access to allow them to view and manage the time entries of other users involved in the project.

The time that’s logged within your invoicing system can then be converted to an invoice with a much simpler process and no manual calculations. In addition, any billable expenses incurred during the project can also be included in the invoice automatically.

Overall, your online invoicing tool can act as the central hub for project information and keep project invoicing functioning like clockwork.

8. Invoicing on the go

How many times have you received calls from customers or colleagues with questions about invoices and payments when you are not at your desk? Keeping all your invoicing data in Excel requires you to have your laptop or PC access to even the simplest information. Since remote work increases the chance of anyone in your organization being away from their work computer, a mobile-friendly solution might come in handy.

Most online invoicing tools come with a mobile version. Though they might not have all the features of the desktop version, they enable your team members to perform a lot of basic operations on the go—whether it’s sharing a payment link, recording the payment for an invoice, or pulling up last month’s sales report.

Here’s your takeaway:

If you want your invoicing team to be productive while working remotely, one of the best things you can do is to have an online invoicing solution in place. This keeps all of your invoicing information in a single application, eliminating the need for hundreds of separate files. It also keeps everyone in the loop without distracting and back-and-forth email threads.

[/et_pb_text][et_pb_social_media_follow _builder_version=”4.9.3″ _module_preset=”default” text_orientation=”center” global_module=”10723″][et_pb_social_media_follow_network social_network=”facebook” url=”https://www.facebook.com/zoho” _builder_version=”4.9.3″ _module_preset=”default” background_color=”#3b5998″ follow_button=”off” url_new_window=”on”]facebook[/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”twitter” url=”https://www.twitter.com/zoho” _builder_version=”4.9.3″ _module_preset=”default” background_color=”#00aced” follow_button=”off” url_new_window=”on”]twitter[/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”linkedin” url=”https://www.linkedin.com/company/zoho” _builder_version=”4.9.3″ _module_preset=”default” background_color=”#007bb6″ follow_button=”off” url_new_window=”on”]linkedin[/et_pb_social_media_follow_network][et_pb_social_media_follow_network social_network=”instagram” url=”https://www.instagram.com/business_tools_online/” _builder_version=”4.9.3″ _module_preset=”default” background_color=”#ea2c59″ follow_button=”off” url_new_window=”on”]instagram[/et_pb_social_media_follow_network][/et_pb_social_media_follow][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.9.3″ _module_preset=”default”][/et_pb_section]

Is it possible to sync my CRM products in Zoho Invoice?

Posted on July 2, 2021 by admin

[et_pb_section fb_built=”1″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_row _builder_version=”4.9.3″ _module_preset=”default” custom_margin=”|auto|10px|auto||”][et_pb_column type=”4_4″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_text _builder_version=”4.9.3″ _module_preset=”default” custom_margin=”-39px|||||”]Yes, Zoho CRM-Zoho Invoice integration supports two way product sync.

Navigate to Gear icon > Integrations > Zoho Apps.
From the Zoho CRM app listing, select Show Details.
Under Enable modules to be synced, you will find the Contacts and Item configuration.
Under the Item configuration, select Configure Now for setting up item sync for the first time, or click on Edit if already configured.
In the Sync Items page, you will have 3 section.

Extent of the Sync :
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Fetch from CRM – Select this option if you wish to sync Zoho CRM records into Zoho Invoice.
Sync both ways – Select this option if you want to have a two way sync of the record.

Clone – The record is cloned and both the original and duplicate records exist.
Overwrite – The duplicate record overwrites the existing record.
Skip – The duplicate record is not synced and the existing record is retained.

Field mapping for items in product sync is automated. Zoho CRM product fields are identified and automatically mapped to Zoho Invoice item fields.
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Q) I get the error message “File contains empty string as column header(s). Please check the content and try again.” when I try to import a .csv or a .xls file. What should I do?

The error may be caused because of an additional separator (Comma in the case of a CSV file, Tab in the case of a TSV file) or an empty column present on a particular line.

Remove the separator and empty columns and save the file. Finally, import the file into Zoho Invoice, match the corresponding fields and it should work perfectly fine

P.S: Also, while importing files or invoice integration , please make sure the columns do not have unnecessary separators(Commas or Tabs) or characters as this might lead to causing the above error.

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_row _builder_version=”4.9.3″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_video src=”https://youtu.be/4g9T20wRdio” _builder_version=”4.9.3″ _module_preset=”default”][/et_pb_video][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_row _builder_version=”4.9.3″ _module_preset=”default” custom_margin=”-58px|auto||auto||”][et_pb_column type=”4_4″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_text _builder_version=”4.9.3″ _module_preset=”default”]

Q) Can I upload images and add SKU information to my items?

[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.9.3″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.9.3″ _module_preset=”default”][et_pb_text _builder_version=”4.9.3″ _module_preset=”default”]The first step in doing this would be to enable the option from the Preferences section. In order to do that, kindly follow the steps mentioned below:

Click on the Gear icon present on the top-right corner and select Preferences -> Items
Scroll down to the Additional Information section. Select the checkboxes under Enable against SKU and Item Image to enable these additional fields while creating an item.
Select Show in all PDF option if you wish to display SKU or item image in the Invoice PDF.

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Click on the Save button for the changes to take effect.

Once this is done, whenever you create/edit an item, you will be able to upload an image and enter SKU information.
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When I export my invoices as PDF, my items are not shown. Why is that?

Posted on July 1, 2021 by admin

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If you’re using foreign characters (such as Chinese, for example) on your invoice, you need to make sure the template you’re using in Zoho Invoice for this transaction, supports these characters. This will ensure that these characters are supported when the invoice is printed or exported as a PDF.

Click the Gear icon on the top right of Zoho Invoicing software and select Templates sub-tab. Hover over the template you’re using and click Edit.
Under Template Properties, select the font of your choice from the drop down under PDF font.
As you flip through the font styles, a pop up at the bottom announces the language that particular style supports (Chinese, Japanese etc.). This will assist you in selecting the right font style. Save your changes before proceeding.

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Q) Can I specify item prices in currencies other than my base currency in Zoho Invoice?

Yes, In Zoho Invoice you can. Simply create a price list and select the option Enter rate individually. Here, select the desired currency and go on to specify the individual prices for each item. You can now associate this price list to a customer and carry out transactions with him in this currency in .

To do all of the above said, please follow the below mentioned steps:

Click on the gear icon (settings icon) and select Preferences > Items > select Would you like to enable Price Lists? and click on the Save button.
Now go to the Price Lists module on the left pane. Click on the + icon to go to the price list creation page.
Give a name, select Enter the rate individually for each item in Item Rates and choose the currency.
In the item table you can enter the customized rates for the items.
Click on the Save button.
Now go to the Contacts section, click on the Edit button and associate this price list to the contact.

By doing so, whenever you create a transaction for that contact, chosen items will possess the custom rates.

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Q) I would like to provide additional information about my item and display them on my invoices. How do I do that in Zoho Invoice?

The default input fields you come across while creating an item such as the item name, price, etc. is designed to capture information that is common to all businesses. But, apart from the available fields, you would want to store additional information that is unique to your business. Custom fields for items will allow you to do that.

With custom fields in the invoicing software, you can receive input in different forms such as number, text, email, etc.

To create custom fields for items,

Click on the Gear icon on the top-corner of the page and select More Settings.
Under Settings head to Preferences and click on Items.
Click on the + New Custom Field link present under the Additional information section.
A pop-up will appear on the screen.
Enter the name of the custom field in the Label Name field and choose appropriate datatype (Number, Text, etc.)
- Now, choose whether you want this input field to appear while creating a transaction.
- Once done, you can choose whether you wish to display the custom field and its value by configuring the Show in all PDF section.
- Click Save to add your newly created custom field.

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The main benefits of using invoicing software are:

What is an e-invoice and an e-invoice under GST?

Who requires the creation of an E-Invoice?

Based on AATO (Aggregate Annual Turnover):

On the basis of the fiscal year:

Based on the Entity Type:

Who doesn’t need to create an E-Invoice?

What kind of documents must be reported to the GST system as part of the E-Invoicing process?

How can I create an electronic invoice?

What should an e-invoice receiver look for?

What influence will e-invoicing have on the procurement cycle?

Do customers need a Zoho Account to access the client portal?

Can we delete the comments added in the client portal?

How do we check if our client has viewed the estimate/invoice have sent him?

Will be able to change customer’s email address? Will he now able to view the old invoices in the client portal?

What is the use of the client portal?

Can I customize the portal invitation mail content?

I am getting a “Portal name already taken” message.

Can I change my portal name? Will this cause any impact?

Can I set a password for the client portal? If yes, how do I do it?

Q. What is Brexit?

Q. Why has Brexit taken so long?

Q. When is Brexit happening?

Q. Is the withdrawal agreement completed? What does it cover?

Q. Will a no-deal Brexit happen?

Q. How else will Brexit affect trade?

Q. How will Brexit affect small scale business?

Q. How long will it take for my business to adapt to these changes?

Q. How will Brexit affect UK businesses with mostly UK customers?

Q. What is the Northern Ireland Protocol?

Q. How will VAT be applied on goods exchanged between Great Britain and Northern Ireland?

Q. What is postponed VAT accounting?

Q. How will Brexit affect business travel to most EU countries after the transition period?

Accessing Zoho Books

Plans

Migrating from another software

Dashboard

Opening Balances

Customize your Zoho Books account

Items

Customers & Vendors

Start Invoicing

Sales transactions

Purchase transactions

Accountant

Settings

Banking

Banking

Transaction Approval

Time Tracking

Documents

Client Portal

Integrations

Web Tabs

Checks

Reports

1. Collaboration

Shared notes:

Shared access:

Shared reports:

2. Organization

3. Keeping track of invoice numbers

4. Errors in transactions

5. Tracing errors

6. Approval process

7. Project invoicing

8. Invoicing on the go

Here’s your takeaway:

Q) I get the error message “File contains empty string as column header(s). Please check the content and try again.” when I try to import a .csv or a .xls file. What should I do?

Q) Can I upload images and add SKU information to my items?

Q) Can I specify item prices in currencies other than my base currency in Zoho Invoice?

Q) I would like to provide additional information about my item and display them on my invoices. How do I do that in Zoho Invoice?