Trading and other business feature transactions-cum-deals allow customers and vendors to connect on a global platform. Vendors offer different products and services to which customers respond with a purchase and make payment for the same. To present the bill, an online invoicing method is considered to be fast, reliable and efficient for both the parties.

As soon as the invoice is generated and sent, vendors can expect the payment to be credited anytime soon. However, initially, there were some limitations as both the customer and vendors aren’t from the same geographical region and not necessarily transacting in the same currency. Hence, this presented a problem for vendors to get paid on-time. Moreover, the currency problem presented more of a challenge to startup enterprise and small business owners.

Currency Decimal Place Challenge:

As long as the task of product stocks, import/export reports, choosing a professional invoice template, etc needs to be carried out, an online invoicing tool seems to be a perfect choice. But when a vendor needs to calculate tax, enable additional fees to different items and manage payment amount in the invoicing, most of these invoicing tools or software present a problem. Well sometimes, no matter what currency you operate the amounts in invoice usually comes down in decimal places. To an international customer this might present confusion, for e.g, it is easier to get jumble between Japanese Yen (JPY) 100.00 and 10000 Yen as they aren’t much familiar with the decimal places.

Invoice Creation in Foreign Currency:

Not necessarily, the invoice currency has to be the same as your base currency which you might have set up in your invoice system. Usually, these online invoice makers aren’t able to format/create/edit invoices in foreign currency and in certain cases when they do, they are more complicated than being simpler in assisting vendor to allocate specific tasks/products/services to be shown in base currency. Needless to say that setting up tax configurations are altogether another task at hand. Facing such payment-cum-currency related inconsistencies could certainly limit any business’s resources & potential when it could excel from every direction.

Moon Invoice: Everything You Need In An Invoicing App

Moon Invoice is simple, easy and handy invoicing app that lets you generate, manage and track the invoices on the go. Moon Invoice offers you multiple payment options along with multi-currency support. In Moon Invoice from the “Company” tab, you can select the preferred currency for your invoicing system. It offers to select the currency for all the countries and hence, no hassle about the availability to transact in a specific currency.

Moreover, you could certainly allot discount on the items/invoices. You can add taxes to different companies and items. You can accept payment for the invoices generated using online payment options which ultimately simplifies the payment issue. Moon Invoice supports adding unlimited companies which enable to generate invoices for the multiple businesses. You can also manage credits against the invoices on the go using credit note feature.

Conclusion:

You wouldn’t want to lose your customer especially when your business is on the brink of acquiring new clients and exploring the potential market. On the contrary, you need an optimum business solution that could cater to any needs of your customers may it be having their invoices in their preferred currency or for any of the features mentioned above. Moon Invoice can be an integral part of your business with not much hassle. Try Now! Click here to download the Moon Invoice app for Mac OS, iOS, Android, and Windows.

Recurring Payments Vs Recurring Invoices

Recurring Payments	Recurring Invoices
Recurring payments charge the customer’s credit card account or debit card account on a predetermined schedule for the same amount as preapproved.	Send an invoice to your customer on a regular basis. The client receives the invoice but, money is not paid unless the customer approves.
A business that takes prepayment of money and sells a monthly subscription service and product. Subscription services are excellent examples of this.	A company that provides fixed services with billable hours is an excellent choice for recurring billing. For example law firms and consulting agencies.

Pros and Cons of Recurring Invoices

Pros	Cons
You eliminate the possibility of human error by automating the billing process. If you use a recurring invoice, you will not be concerned about forgetting to charge your customers for the things they ordered.	You must exercise caution while recurring billing to prevent issuing inaccurate pricing. This also holds for price changes that could take place right once an invoice is created.
If you provide your customers with the option for recurring billing, they are more likely to buy products regularly.	It could be difficult to cope with recurring invoices if a transaction fails for any reason.

Net 45	Invoice is due in full within 45 days with no early payment discount offered
2/10 net 45 terms	2% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/15 net 45 terms	1% discount if you pay within 15 days; otherwise full payment of the invoice is due in 45 days
1/10 net 45 terms	1% discount if you pay within 10 days; otherwise full payment of the invoice is due in 45 days
1/7 net 45 terms	1% discount if you pay within 7 days; otherwise full payment of the invoice is due in 45 days

Category	Net Method vs. Gross Method	Explanation
Calculation Approach	- Applies tax credits first; reduces taxable income before computing tax liability.	- Doesn't apply tax credits; computes taxable income without considering tax credits.
Tax Credit Eligibility	- Allows for greater likelihood of tax credit eligibility due to reduced taxable income.	- Limits tax credit eligibility because taxable income hasn't been reduced yet.
Itemized Deduction Requirement	- Lowers threshold requirement for itemizing deductions due to decreased taxable income.	- Raises threshold requirement for itemizing deductions due to higher taxable income.
Advantages	- Leads to lower taxable income and increases chances of meeting qualifications for other tax benefits.	- Results in higher taxable income compared to net method.
Disadvantages	- May miss opportunity to reduce tax burden if taxpayer doesn't itemize deductions or take advantage of tax credits.	- Increases taxable income and may result in higher overall tax bill.