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What is a Billing Software?
Billing software in simple words is software intended to deal with time and billing, tracking, and invoicing of services & products sold to customers. It can digitize the entire process & track the working hours of employees & expenses related.
Software for Billing is an essential aspect of accounting and finance, and there are sellers that offer free billing software for small & medium enterprises. Nonetheless, the billing framework software with GST billing can go from the least complex and generally essential to the further developed billing software for PC with modern highlights.
What is the need for GST Billing Software?
The main purpose of GST billing software is to eliminate the manual data entry work & make sure the accounting procedures carried out are error-free. Accounting procedures & processes are very important for any business and this is why the need for the best billing software arises. GST billing software is utilized to eliminate manual errors so that the accounting reports are 100% error-free.
In addition to this, if you are from a retail segment, you need many more features & shortcuts that will increase your billing speed. Software specifically designed for retail stores with quick features & reduces customer waiting time at the billing counters.
Retail Billing Software provides multiple features like invoice creation, reminders, online banking, MIS reporting, database, records management, multiple payment options, etc. But as per the current situation, business owners must not look for only free software, rather they should go for the best billing software irrespective of the billing software price. Although it is very important to manage your expenses & you must be looking for affordable software. There are many software in the market that provide the best features at the best price.
Some features of billing software
The best billing software for the retail shop should have the following features:
Customized Invoice Creation:
The billing software associated with your business must be capable of creating beautiful customized invoices. A professional invoice is the face of your business, the branding you will create with an invoice will last forever. Therefore any business irrespective of its size & style should give away beautiful invoices with brand logos & company details to the customer leaving a great impression.
Maintaining customers’ records:
Creating & maintaining customers’ records is another very important thing to keep in mind. Creating a personal experience for your customers leaves a great impression on your company. If you take the records once & then offer some extra gifts & discounts according to customer buying behavior, no one can stop you from being successful. Only billing software can help you achieve this.
Multiple payment modes:
As per the current scenario, customers are willing to pay via multiple modes, & mostly the online & contactless methods. Therefore to compete & stay ahead in the market you need a robust billing system that will empower you with digital payments. Also, there are some payment platforms launched like Margay which can be easily integrated with your ERP system & makes your reconciliation effortless.
GST Billing & Return filling:
Nonetheless, we need to mention that the software you opt for your business must be GST-ready. You can simply create GST invoices at the time of billing & put transactions directly into the GST portal in JSON, Excel, CSV, etc format. These reports are error-free & save you precious time in filing GST returns manually.
Tax Reports & invoices:
Good retail billing software should reduce the chances of manual error in tax calculation & report creation. It must eliminate the dependency on external sources like CAs, Tax practitioners, or external systems for tax reporting. The best billing software allows you to perform business transactions & operations including tax calculation, reporting, etc.
By yourself without losing hours doing repetitive tasks. The software for billing empowers you & your business by saving a lot of time that goes wasted in summarizing information daily. It also saves you from doing repetitive monotonous tasks on data entry.
Conclusion:
With GST (Goods & Service Tax) being mandatory in India, businesses will need robust GST billing software. The government has offered some free GST software also, but being a smart business owner you must look for software that is suitable for your business. You can easily analyze how the software will do in your business by taking a free demo or some software like Marg ERP also offer 7-day free trial. First, try & then invest in the software. Remember it is not an expense, it is an investment.