Billing application to generate invoices with GST

Last udpated: Nov. 4, 2017, 9:12 p.m.

If you are registered under GST and supplying goods or services or both, then you have to issue a tax invoice which should follow the compulsory requirements specified under law.

The tax invoice issued by you to your client or customer should contain the details required by law.

A tax invoice under GST should contain the following details:

  • GSTIN of supplier and recipient, if B2B
  • Billing address and shipping address (If interstate supply)
  • Product details such as HSN code, Quantity, Rate
  • Rate of tax charged such as CGST, SGST or IGST
  • Amount of Tax charged.

These are the minimum requirement of a tax invoice.

Along with these if you are issuing invoice for an export of goods or services or both, then you have to mention whether supplied with a bond or after payment of IGST.

If you are looking for a billing software for your newly started startup or an existing business, you should evaluate the billing software based on certain factors.

Features in a billing application

Before you select an billing application, it is very important to understand your requirements.

  • Are you looking for offline application or
  • An online application

You should check the advantages and disadvantages of both type of applications.

I personally prefer an online application compared to an offline software.

My reasons for selecting an online billing application are:

  • I can create invoices anytime from any place
  • I do not have to worry about data corruption or virus attack in my system
  • I am not depended on a single system to create invoices for my clients
  • Online applications are easier to use
  • I can provide access to my team for accounting and auditing
  • I can account invoice receipts at real time from any place of my choice
  • I can view the invoicing reports at any time and at any place

The most valid reason that I use an online application is that

I have coded an invoicing application for my own purpose and which is now released to public for free. You can use this invoicing application to manage your billing requirements.

Similarly you can choose the KYG-INVOICING for your billing requirements. If you have your own set of requirements you can select any of the paid software available for offline usage.

Normally, a billing software should have following features to make you life easy and let me remind you that these features are available in KYG-INVOICING.

  • It should have facility to store customers/clients details.
  • It should have facility to store details of your products.
  • It should be able to generate invoices which comply with applicable tax laws, in our case it is GST.
  • It should be able to generate reports for better analysis of:
    • Sales
    • Products sold
    • Most active customers
    • Tax liability and
    • Balances due
  • Facility to account receipts against invoices
  • Alert facility to highlight overdue or long pending balances
  • Provide reports for filing your GST tax returns.

Most important feature of any product is Customer Support. With KYG-INVOICING you get support from others who are using it and I personally address each and every issue of each user.

When you select a software for your billing requirements, do make a list of features you require and make the final decision.

Cost should be the last factor, an underpaid badly coded software can result in wastage of valuable time and can increase your opportunity cost.

Final words

Give a try to KYG-INVOICING application on this website and let me know your experience. Remember your suggestions will help all users to enhance this application.

Posted by Pulkit Sharma under GST

A Chartered Accountant by qualification. Love to code and share knowledge. On a mission to create the largest knowledge library for finance and taxation professionals. Check Profile

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