#INVOICING SERVICES INSTALL#
#INVOICING SERVICES PROFESSIONAL#

There is no particular format notified for an invoice. If you have a GST registered business in India, you have to provide GST compliant invoices to your customers to sell services or goods. It eliminates any doubt about when the payment is due and eliminates the possibility of denying information about the payment.

Since an invoice is a legal document that is part of a sale, including the due date in the invoice will keep the consumer informed. These dates signify that the payment is due and will result in several penalties and interest if the payment is not received by the due date. In a general business context, the due date refers to the latest date by when a payment can be made on an invoice before it becomes overdue or late. When it comes to invoicing, including a due date will help facilitate prompt payment. Read our article on the time limit to issue invoices and bill of supply to know more about it. There are separate time limits to issue the invoices for the supply of goods and services. However, the time of raising tax invoices is generally determined by the GST law.

Again, a 30-day credit period is applied from the date of the invoice. When it comes to the rendering of services, invoices must be raised monthly by the end of the month. In general trade parlance, for the supply of goods, invoices are raised as soon as the goods are delivered with a usual credit period ranging up to 30 days from the invoice date.

To keep track of business income for tax purposes.

Invoice can be used as historical data to predict future revenue.

To track the inventory of the business.

To keep an account of the sales or supplies.

Invoice forms the basis for requesting clients or customers to make payments on time.

Businesses use invoices for several reasons, such as follows:

#INVOICING SERVICES PROFESSIONAL#

It is issued by every business and professional to keep track of sales made and services provided. Invoices are primarily used for keeping track of all the sales transactions by any business organisation with its customers. Who uses an invoice, and what is the purpose?įor accounting, invoices are used as a source document. Invoice can be defined as “a list of goods sent or services provided, with a statement of the sum due for these a bill.”, as per the Oxford English Dictionary. Invoices are the business records that allow companies to get paid for their services, so invoicing is critical for small businesses. An invoice details how much your client owes you when payment is due and what services you rendered. Invoices are the foundation of a small business’ accounting system.

#INVOICING SERVICES INSTALL#

If it’s not enabled, then enabling it will install the Timesheet app.An invoice is a document that describes the goods and services that a company offers to a customer and specifies the customer’s responsibility to pay for those products and services. There is a setting in Projects to “Log time on tasks” and this should be enabled if the Timesheets app is installed. You can therefore select a Project Template to be used: Re-Invoice Expenses If you select either of the last two options, a new project may be created. If not a new project will be created based on the template (see below).

If the sale order has a project this will be used.

Manually enter the quantity delivered (you can record time if you wish, but this will not be used for invoicing.

Milestones (manually set quantities on order).

This is the option to use if you want to invoice the customer based on timesheets.

An invoice can be created at any time, based on the ordered quantity (If timesheets are in use, the time will be recorded but not use for invoicing).

There are several different options: Service Invoicing Policy If the Sales, Project and Timesheet apps are installed the following options should be shown in the Sales tab for Service items: You can then invoice the customer based either on time recorded or milestones. When the Sales Order is confirmed, a project and/or task can be created automatically. This allows you to create sales orders for services and then invoice the customer. Odoo has integration between the Sales app and the Project and Timesheet apps.

Invoicing services