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The government introduced GST as one tax nationwide for tax transparency. With this tax came frequent invoicing and invoice for every transaction. An invoice is the basic document of recording and maintaining the accounts. GST ready invoice template was provided by the government. The template includes all minute details like supplier’s name, shipping and billing address, Place of supply, date of issue, rates etc. Each one registered under GST, has a unique Identification Number known as GSTIN. The invoice also includes GSTIN along with codes and nomenclature for different goods. Moreover, invoice needs to be submitted monthly. With all these, generating invoice suddenly became an issue. Moon Invoice is one of the first invoice apps, created to address this issue. It not only provides a system to generate and maintain invoices but also enables us to make instant payments for them.

Invoicing and Billing

Moon Invoice App enables you to generate invoice on daily, monthly and yearly basis. The Invoices saves the GSTIN for all your customers and clients. The built in pdf invoice generator generates invoices within the GST format with the saved details, like GSTIN already filled in. All you need to do is fill in the empty data. You can also preview the invoice that you created before submitting. If incorrect, you can edit or delete the invoice. PayPal support button is for the convenience of international transactions through PayPal. Also, Moon Invoice enables you to generate invoice for multiple businesses at the same time. It serves as a handy almanac for maintaining all kinds of invoices for every business.

Timely Notifications and Reporting

You are immersed in your business and your payment of invoice gets overdue. What next? You need an assistant to remind you every time. Get a perfect assistant in Moon Invoice. It sends you reminder every time a payment is overdue. No matter if the app is closed, the clock in built in the application keeps on ticking and takes care of your payments behind your back. A quick look on the summary page will update you on availability of product stocks, top customers, expenses and purchase orders with them. All this data will be represented in the most convenient display with help of charts and filters. You can generate reports on all your customers, vendors, products and purchase.

Customer friendly Customizations

There are total 22 PDF templates, which you can customize with your own image and colors. This enables you to make your invoice personalized or different for every business you handle. Print feature takes this app a level closer to your convenience. You can import/export and print any kind of reports, invoices and purchase orders that you generated. Moreover, you have the iCloud sync support. You are just one touch away from Backup and restore option.

Moon Invoice was created keeping every kind of user in consideration. Be it an individual freelancer or business holder. It acts as subconscious you, keeping a track of all your engagements and expenditure. Just download the app, pay one time and it’s all yours. Feel free to generate unlimited invoice. All operating devices like Android, Apple and Windows are compatible. What else? You can install it in your phone and carry your business around with you. When encountered with any issue in the app, online email support is readily available. Moon Invoice is fully compliant with GST format. It is not only the first but best application so far, created solely for making your business a success along with GST.

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.