{"id":248,"date":"2019-05-07T04:38:59","date_gmt":"2019-05-07T04:38:59","guid":{"rendered":"https:\/\/www.smartadmin.co.in\/blog\/?p=248"},"modified":"2020-04-14T13:43:17","modified_gmt":"2020-04-14T13:43:17","slug":"what-is-invoice-management-selecting-right-tool-for-gst-invoicing","status":"publish","type":"post","link":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/","title":{"rendered":"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing"},"content":{"rendered":"

An invoice<\/a> is a commercial cum legal document that summarizes a transaction between a buyer and a seller.\u00a0 If goods or services were purchased on credit, the invoice usually specifies the terms of the deal, and provides information on the available methods of payment.\u00a0 It includes VAT, Sales Tax, GST amount for the bill.\u00a0 An invoice is also known as a bill\u00a0or sales invoice and such naming is done according to the regulatory guidelines of a country.<\/p>\n

Invoice\u00a0processing involves the handling of incoming\u00a0invoices\u00a0from arrival to post.\u00a0 The main department that\u00a0processes invoices\u00a0is known as accounts payable department.\u00a0 The\u00a0process\u00a0involving a supplier\u00a0invoice\u00a0is also known as purchase-to-pay.\u00a0 Payment terms<\/a>\u00a0are usually stated on the invoice.\u00a0 These may specify that the buyer has a maximum number of days in which to pay and is sometimes offered a discount if paid before the due date.\u00a0 The buyer could have already paid for the products or services listed on the invoice.<\/p>\n

Invoice management\u00a0is an internal business function linked to procurement and is responsible for managing and processing invoice documents from vendors and suppliers.\u00a0 An invoice provides a detailed account of the products or service and a set of other information that can vary a bit depending on the requirements in the country the invoice is issued and the type of product or service being sold.<\/p>\n

Invoice management involves steps like receiving the invoice, extracting invoice information, validating and verifying the invoice information, approving payments and finally archiving the invoice for future reference.<\/p>\n

Invoice Statement created through GST invoicing software<\/a> can be automated by entering the amount.\u00a0 By going for software to generate invoice one can get data for filing monthly\/quarterly\/annual returns. \u00a0Invoicing software is helpful to get invoice through emails or invoice in PDF and other format.\u00a0 By this we can see invoice as prepared we need.<\/p>\n

Invoice includes invoice number<\/a>, date the product, contact information and name of the seller, name and contact details of the buyer, terms of payment, line detailing the product\/service, cost per unit of the product and the total amount that is owed. Smart Admin has an invoicing tool which helps to generate invoice based on the tax structure of the country. One can configure it to meet the compliant requirements.\u00a0 Smart Admin<\/a> is a cloud based application and priced reasonably to meet the needs of majority of users.<\/p>\n

SMART ADMIN is a cloud-based software for generating GST Compliant Invoice, Payroll management, Timesheet and Project Tracking \u2013 visit\u00a0SMART ADMIN<\/strong><\/a>\u00a0for FREE Trial and Registration.<\/p>\n","protected":false},"excerpt":{"rendered":"

An invoice is a commercial cum legal document that summarizes a transaction between a buyer and a seller.\u00a0 If goods or services were purchased on credit, the invoice usually specifies the terms of the deal, and provides information on the available methods of payment.\u00a0 It includes VAT, Sales Tax, GST amount for the bill.\u00a0 An invoice is also known as a bill\u00a0or sales invoice and such naming is done according to the regulatory guidelines of a country. Invoice\u00a0processing involves the handling of incoming\u00a0invoices\u00a0from arrival to post.\u00a0 The main department that\u00a0processes invoices\u00a0is known as accounts payable department.\u00a0 The\u00a0process\u00a0involving a supplier\u00a0invoice\u00a0is also known as purchase-to-pay.\u00a0 Payment terms\u00a0are usually stated on the invoice.\u00a0 These may specify that the buyer has a maximum number of days in which to pay and is sometimes offered a discount if paid before the due date.\u00a0 The buyer could have already paid for the products or services listed on the invoice. Invoice management\u00a0is an internal business function linked to procurement and is responsible for managing and processing invoice documents from vendors and suppliers.\u00a0 An invoice provides a detailed account of the products or service and a set of other information that can vary a bit depending on the….<\/p>\n","protected":false},"author":1,"featured_media":249,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[6],"tags":[67,43,68,58,27,23,70,69],"jetpack_publicize_connections":[],"yoast_head":"\nWHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin\" \/>\n<meta property=\"og:description\" content=\"An invoice is a commercial cum legal document that summarizes a transaction between a buyer and a seller.\u00a0 If goods or services were purchased on credit, the invoice usually specifies the terms of the deal, and provides information on the available methods of payment.\u00a0 It includes VAT, Sales Tax, GST amount for the bill.\u00a0 An invoice is also known as a bill\u00a0or sales invoice and such naming is done according to the regulatory guidelines of a country. Invoice\u00a0processing involves the handling of incoming\u00a0invoices\u00a0from arrival to post.\u00a0 The main department that\u00a0processes invoices\u00a0is known as accounts payable department.\u00a0 The\u00a0process\u00a0involving a supplier\u00a0invoice\u00a0is also known as purchase-to-pay.\u00a0 Payment terms\u00a0are usually stated on the invoice.\u00a0 These may specify that the buyer has a maximum number of days in which to pay and is sometimes offered a discount if paid before the due date.\u00a0 The buyer could have already paid for the products or services listed on the invoice. Invoice management\u00a0is an internal business function linked to procurement and is responsible for managing and processing invoice documents from vendors and suppliers.\u00a0 An invoice provides a detailed account of the products or service and a set of other information that can vary a bit depending on the....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/\" \/>\n<meta property=\"og:site_name\" content=\"smartadmin\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-07T04:38:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-14T13:43:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smartadmin.co.in\/news\/wp-content\/uploads\/2019\/03\/WHAT-IS-INVOICE-MANAGEMENT-Selecting-right-tool-for-GST-Invoicing.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"smartadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"smartadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/\",\"url\":\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/\",\"name\":\"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin\",\"isPartOf\":{\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/#website\"},\"datePublished\":\"2019-05-07T04:38:59+00:00\",\"dateModified\":\"2020-04-14T13:43:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/ed226607aa010ec5256260a72d3de42e\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smartadmin.co.in\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/#website\",\"url\":\"https:\/\/www.smartadmin.co.in\/news\/\",\"name\":\"smartadmin\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smartadmin.co.in\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/ed226607aa010ec5256260a72d3de42e\",\"name\":\"smartadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ec44953d50a6948ab594df6bca392263?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ec44953d50a6948ab594df6bca392263?s=96&d=mm&r=g\",\"caption\":\"smartadmin\"},\"url\":\"https:\/\/www.smartadmin.co.in\/news\/author\/smartadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/","og_locale":"en_US","og_type":"article","og_title":"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin","og_description":"An invoice is a commercial cum legal document that summarizes a transaction between a buyer and a seller.\u00a0 If goods or services were purchased on credit, the invoice usually specifies the terms of the deal, and provides information on the available methods of payment.\u00a0 It includes VAT, Sales Tax, GST amount for the bill.\u00a0 An invoice is also known as a bill\u00a0or sales invoice and such naming is done according to the regulatory guidelines of a country. Invoice\u00a0processing involves the handling of incoming\u00a0invoices\u00a0from arrival to post.\u00a0 The main department that\u00a0processes invoices\u00a0is known as accounts payable department.\u00a0 The\u00a0process\u00a0involving a supplier\u00a0invoice\u00a0is also known as purchase-to-pay.\u00a0 Payment terms\u00a0are usually stated on the invoice.\u00a0 These may specify that the buyer has a maximum number of days in which to pay and is sometimes offered a discount if paid before the due date.\u00a0 The buyer could have already paid for the products or services listed on the invoice. Invoice management\u00a0is an internal business function linked to procurement and is responsible for managing and processing invoice documents from vendors and suppliers.\u00a0 An invoice provides a detailed account of the products or service and a set of other information that can vary a bit depending on the....","og_url":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/","og_site_name":"smartadmin","article_published_time":"2019-05-07T04:38:59+00:00","article_modified_time":"2020-04-14T13:43:17+00:00","og_image":[{"width":500,"height":333,"url":"https:\/\/www.smartadmin.co.in\/news\/wp-content\/uploads\/2019\/03\/WHAT-IS-INVOICE-MANAGEMENT-Selecting-right-tool-for-GST-Invoicing.jpg","type":"image\/jpeg"}],"author":"smartadmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"smartadmin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/","url":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/","name":"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing - smartadmin","isPartOf":{"@id":"https:\/\/www.smartadmin.co.in\/news\/#website"},"datePublished":"2019-05-07T04:38:59+00:00","dateModified":"2020-04-14T13:43:17+00:00","author":{"@id":"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/ed226607aa010ec5256260a72d3de42e"},"breadcrumb":{"@id":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.smartadmin.co.in\/news\/what-is-invoice-management-selecting-right-tool-for-gst-invoicing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smartadmin.co.in\/news\/"},{"@type":"ListItem","position":2,"name":"WHAT IS INVOICE MANAGEMENT? Selecting right tool for GST Invoicing"}]},{"@type":"WebSite","@id":"https:\/\/www.smartadmin.co.in\/news\/#website","url":"https:\/\/www.smartadmin.co.in\/news\/","name":"smartadmin","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smartadmin.co.in\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/ed226607aa010ec5256260a72d3de42e","name":"smartadmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smartadmin.co.in\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ec44953d50a6948ab594df6bca392263?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ec44953d50a6948ab594df6bca392263?s=96&d=mm&r=g","caption":"smartadmin"},"url":"https:\/\/www.smartadmin.co.in\/news\/author\/smartadmin\/"}]}},"jetpack_featured_media_url":"https:\/\/www.smartadmin.co.in\/news\/wp-content\/uploads\/2019\/03\/WHAT-IS-INVOICE-MANAGEMENT-Selecting-right-tool-for-GST-Invoicing.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/posts\/248"}],"collection":[{"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/comments?post=248"}],"version-history":[{"count":2,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/posts\/248\/revisions"}],"predecessor-version":[{"id":408,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/posts\/248\/revisions\/408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/media\/249"}],"wp:attachment":[{"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/media?parent=248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/categories?post=248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smartadmin.co.in\/news\/wp-json\/wp\/v2\/tags?post=248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}