Every company or business needs to check and derive any shortcomings facing in the invoicing front from time to time to improve productivity. However, most of these companies have long been using an invoicing platform and have got used to the existing systems and resources. But in order to improve productivity – finding out the budget and overstretched teams does not contribute much. And neither does the system integration part as you would have dedicated too much time and with not enough resources. Hence, in a way, there are many tasks and hidden problems and underlying cost associated with the B2B invoicing and also draining your productivity and profits. So, what can be done to tackle this issue? The best foot forward is to shift your focus from the dreadful invoice mechanics to providing a user-centric invoicing experience. One can avoid all such conundrum by introducing an online invoicing application that can provide not only professional invoice but also online expense tracker and many other features.

Nowadays, with lots of products and services introduced by a firm to the market is much ahead than at which your invoicing is evolving. Flint Lane, CEO of Billtrust stated in a survey said that “e-Invoicing and e-Payment drive real savings to the bottom line while also strengthening customer relationships.” Since through the medium of this, businesses can get paid quickly and on-time will result in reducing the cost of administration in the billing department. Moreover, not only that the online invoice maker has improved cash flow and reduced expenses but also automated invoices which offer more security and fraud protection. It has become nearly impossible for customers to understand their invoice without needing an extra pair of hand.

Majority of the invoicing inquiries is not about the incomplete payment or adjustment requests but to understand the charges levied in the invoices? The basic questions of the customers are what are these charges, why it was charged and how can be sure that it is an accurate charge?

These small inquiries can quickly grow into complex investigations and you’ll need to dedicate resources or a team to find the answers. Even your staff has to go through systems and data in order to pinpoint the problem – just like your customers. Customers are least bothered about the loopholes in your invoicing system and servers, all they care about is getting the accurate information they need to process invoices and payments as efficiently as possible.

The format should be clear and concise while a detailed itemized invoice would add a cherry on top of the cake. Listing all the products and services with a description of price per unit, total price, tax, etc is necessary. As long as it is fairly indicative and yet simple to understand you are good to go ahead and can expect it to get paid on time. We are living in the era of digital payments and other related options, so your clients or customers should not be limited to only cheque or cash payment option. Hence many businesses have started to opt for online payment and other options which are safer and faster also. Professional free invoice maker provides multiple payment methods.

Summary:

Moon Invoice, designed and developed to simplify the invoicing process for small, medium and large businesses. It has highly advanced feature-set, fully automated invoicing processing that helps companies to be more efficient & productive. Invoice processing via Moon Invoice is done with maximum accuracy and removes any such probable errors associated with manual entry as it supports recurring invoices and many such other features.

Moon Invoice mobile app is available for iOS, Mac OS X, Android, and Windows. Download our free app today and leave all your invoicing worry with us. There is a 7-days free trial period for you to try before you buy!

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.