How to create an Invoice and accept payments

Invoice:

A document was given to the buyer that lists the products and services for the business and establishes a duty for the client to pay it. The following detail includes the cost of the product purchased or services rendered to the buyer. It can also serve as the legal records when it contains the name of the seller and its client, product description, price of goods or services, and terms of payment.

Why do we use it?

An invoice serves as the important purpose of small business accounting. It provides the documentation of all your business financial history which helps you to track all the revenues flowing into your business through sales and can help you gauge your profits and cash flow. Invoices set your payment terms and enable you to get paid faster for your services.

Details to be present in Invoice:

An e-Invoice contains details and information of the transaction including the details of both supplier and the recipient. 

It includes

Name of the invoice
Suppliers information
Recipients information
Item details
Sum of items
Purchase order Excise duty
Sales commission

VAT Invoice:

Business registered with VAT, supplying the taxable or a mixture of standard or exempt goods or services to another VAT registered business, then the  VAT invoice needs to be provided. Under VAT in UAE, a Tax Invoice is to be issued by all registrants for taxable supplies to other registrants

Foloosi Invoice

Create, send invoice & get paid instantly. Create Invoice. Manage your customers. Record payments, Instant Notifications

To create an invoice in the Foloosi Dashboard:

1. Navigate to the Create an invoice page
2. Enter Invoice Name that suits for the business activities
3. Enter the details on Summary that based on project name/description of invoice
4. Add your VAT No. on  Invoice is to be issued by all registrants for taxable supplies to other registrants
5. Select + Add new customer and fill out the Name, Account email, and Description fields based on Individuals/Business Invoice 
6. Choose Currency that you would like to accept payments from your clients/customers.
7. Enter an item description and price.
8. On your goods or services is a way to quickly draw in potential customers. So, offer discount on your potential customers by clicking on discount%
9. Adding VAT TAX is an optional. It’s a consumption tax that applies to all goods and services, whether physical or digital.
10. Fill the fields for customer notes for the specific customer and terms and conditions of your service/business
11. Click Preview to check all the details and Create invoice.
12. Once the Invoice created share the link and also send an invoice via mail to your customers/clients
13. You can edit, view your invoice and share the link with your customers and if the invoice that created also can be delete on invoice action