Like business owners, individuals need to create invoices. Currently, there are several platforms, such as Google docs, Microsoft Excel, Microsoft Word, etc., to create an invoice. However, if individuals are unwilling to use any mediums, they can rely on an invoice generator available online and create invoices for free. An invoice generator helps business persons and accountants create and credit notes in a standardised format. Read on to know about invoice generators in detail.
Invoice Generator - A Brief Overview
An invoice generator is an online tool that generates invoices for goods and services. The calculation process occurs automatically where the user has to enter essential business and customer-related information and price of products/items in a ready-made template. Once they enter all the required details and click on submit button or Generate PDF, they will get a comprehensive invoice. As stated earlier, businesses and accountants can depend on Google docs, Microsoft Excel, or Microsoft Word to create an invoice. However, this online invoice generator tool helps create professional invoices according to the regulations set by the Government of India. In India, taxpayers with an annual aggregated turnover of more than Rs. 100 crore must generate and store e-invoices. The Indian Government decided (w.e.f 15th November 2021) to make e-invoicing compulsory for business entities with an annual turnover of Rs. 50 crore. Online financial solution platforms like KredX offer free invoice generator. Here, business persons or accountants can easily create an invoice. Apart from using an invoice generator (for free), businesses can easily resolve working capital challenges by opting for Invoice Discounting. For this, they need to upload their unpaid invoices at the KredX platform, and once investors purchase their invoices, they can receive money in 24-72 hours. Businesseswilling to take advantage of hassle-free Invoice Discounting and at the same time create invoices for free can find KredX an ideal platform. Want to know the process to create an invoice through an invoice generator? Read the following section.
Process To Create Invoice Through Invoice Generator
Here is a step-by-step guide on creating invoices through an invoice generator: Step-1- Provide company-related information, such as company name, address, GSTIN, state and country name. Step-2- Enter correct details of clients, such as the name of the customer, business or full address. Step-3- Next, put invoice related details, including the name of the item, description, rate, quantity, amount, etc. Step-4- At last, click on the Generate PDF button and download the invoice. Now that individuals know the process to create an invoice through an invoice generator, let’s learn about the benefits of using such an online tool.
Advantages Of Creating Invoice Through Invoice Generator
Following are a list of benefits of generating invoice through the invoice generator,
The invoice generator uses a standard template that abides by the Government rules and produces an invoice that has a professional touch and catchy look.
Organised Invoicing System
When a business grows, its sales and customer base expands. In such a scenario, manually creating and managing multiple invoices becomes hectic. Here, an invoice generator helps businesses streamline invoicing systems in a paperless manner and store them on cloud services.
Invoice generator allows businesses to get shareable and printable invoices, which would otherwise become problematic with other mediums like Google docs, Microsoft Excel, and Microsoft Word.
As the invoice calculating process is automatic, there are zero chances of error. This helps maintain a robust relationship with customers.
When manually creating an invoice, businesses have to invest much time in writing, calculating and stamping, and putting them in envelopes. On the contrary, businesses only need to enter certain details while using an invoice generator. Some online tools, such that are available at KredX, offer a free invoice generator where businesses need not sign up every time for creating invoices which means they can save a considerable amount of time.
Free online tools like invoice generatorsenable businesses to create invoices in a hassle-free manner in a standard format and store them on cloud services. This ensures an organised invoicing system and timely payments if the accounts receivables are adequately taken care of and, in some cases, easy credit facility from leading financial institutions.
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