In times like this, where the businesses are going global, companies are looking for effective ways for billing and accounting process. E-invoicing provides amazing benefits and solutions to everyday challenges of business in terms of taxes, payments, reports, compliance, etc.

E-invoicing is nothing but an electronic form of an invoice. Being part of the electronic billing process, e-invoicing or online invoicing makes it easier for all the parties involved and even for the resources to access and process billing records via email. Moreover, you can be sure of quicker approval, faster payments and even instant rectification of any errors in the invoices. This, in turn, saves time and cost of paper, printing, and postage.

There are many companies offering professional invoice services and one-stop solution for all your invoicing needs. Below listed are the latest E-invoicing trends that will help your business work with more efficiency and necessary invoicing tools to keep in mind while preferring the best invoice generator.

1) Automation

Automation of invoicing and billing process makes E-invoicing a preferred choice as compared to traditional invoicing methods. It simplifies the process and requires fewer resources to manage billing and accounting. This leads to faster payments and maintains easy cash flow for the business.

Receiving initial payments on time concludes to avoid chasing late payments via phone, emails, etc and sending second invoices with late payment and surcharges. E-invoices eliminates all these situations. Automation also helps in reducing time to correct the mistakes in invoices and are generally more secured against any fraud. Most of these E-invoicing or online invoicing platforms offers robust security with SSL (Secure Sockets Layers) encryption which provides an additional layer of security to the invoices.

2) Invoicing Apps

As E-invoicing is grappling the moment in this digital era and most of the companies are into transitioning to adopt this, mobile invoicing is also trending. Online invoicing apps allows accessing all the cutting-edge features anywhere, anytime.

3) Adopting To Cloud-based Structure

More and more offices are adopting to cloud-based architecture not only for invoicing but for all the other office systems. E-invoicing via cloud-based software or SaaS (Software as a Service) will help user access invoicing data even while they are on the go. The cloud-based invoicing software allows the user to manage and accomplish daily invoicing needs even from outside of the office such as recurring payments, estimate and purchase order, tracking time and expenses, etc.

4) Big Data

Large organizations dealing with huge data and up to some extent, even tax authorities are showing a keen interest in big data. Big data allows institutions and organizations to manage data easily and make the most of the invoice data. It leads to better invoice management and reduces tax error and fraud. Big data also helps in understanding consumer pattern and key insights into the user behavior.

5) Blockchain Integration

The blockchain is the process of recording every transaction that occurs via bitcoin or any other cryptocurrency. Many industry sectors have already started taking advantage of blockchain as it eliminates the need of the third party and makes the transaction process more speedy and secure. Majorly, banking and financial institutions are the ones that could benefit most out of it and applying same to invoicing.

6) Single Entity Platform

With so many features & functionalities that contribute to the benefits of using E-invoices adding to improving accuracy, costs, and speed of the invoicing process, a unified platform can actually bring a lot to the table of the invoicing world! This trend is adopted by many businesses to move towards online invoicing and in near future will be able to merge the markets into a single entity platform for invoicing. It has already started with a few big vendors from the industry joining the move towards enlarging the E-Invoicing platform.

Moon Invoice always lets you know beforehand about invoices & expenses becomes overdue. So that you can easily automate payment reminder and get paid on time. Moon Invoice is the easiest online invoicing apps which have simplified payment with multiple options as well as to bill in any currency as per your clients’ needs.

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.