Tag: Billing Software

Are you still using paper and pen to manage stocks and make invoices? If yes, it's time to change and embrace advanced ERP solutions for automation, cloud backup, security, and improved overall productivity.   Here are some highlights from the McKinsey & Co. report to substantiate why your business needs advanced billing and inventory software.   20% improved inventory management with predictive analytics   15% better supply chain efficiency   Automated billing saves time & reduces errors   80% drop in transport inventory backlogs   40% boost in overall productivity   Therefore, modern inventory and billing software like Marg ERP is crucial to accelerate your business growth and infuse efficiency through automation. Let us explore the importance of invoicing and accounting software for small and growing businesses.   Book Demo What is the significance of modern billing and inventory software for SMEs in India?   Automate Invoicing & Billing for Precision and Speed   Modern billing software like Marg ERP automates the entire invoice cycle—from templated invoice generation and automatic payment reminders to reconciliation with your accounts. Automation reduces manual entry. In 2024, only about 60 % of invoices were manually entered into ERP/accounting systems, down from 85 % in 2023—showing a growing shift to automation.   This faster, accurate billing process improves customer experience, shortens payment cycles and lowers the risk of duplicate or incorrect invoices.   Strengthen Cash Flow and Financial Management   Advanced billing software features like payment tracking, integration with gateways, connected banking, and automated reminders speed up collections and improve cash flow. Optimised cash flow ensures better financial management. Marg ERP’s connected banking and automated notifications eliminate tying up cash in unsold stock and keep you agile.   Real-Time Inventory Visibility and Control   Inventory is often one of the largest costs for small retailers—accounting for up to 17–25 % of budgets, per recent data. Inventory software tracks stock in real time, so you avoid stock‑outs or overstock situations.   Perpetual inventory systems tie point‑of‑sale and procurement together, updating stock continuously. This reduces manual counts and improves accuracy. With such visibility, you can optimise reorder points, reduce holding costs, and fulfil customer orders more reliably.   Better Decision Making Through Data & Analytics   Moving beyond spreadsheets matters. Software today offers dashboards that show sales trends, fast‑ and slow‑moving items, turnover rates, and reorder alerts. This empowers you to make data‑driven decisions on pricing, promotions or supplier negotiations. Turning data into strategy is no longer optional—it’s expected.   Scalability & Cloud-Based Flexibility   As small businesses grow, manual billing and stock records quickly become unmanageable. Cloud‑based billing and inventory platforms scale effortlessly—you can add users, transaction volume, and even new locations without upgrading hardware.   Mobile access means owners or field sales staff can invoice on the go and see stock available on their phone or tablet—essential in today's remote and hybrid work environment.   Integration Into a Unified Business Ecosystem   Leading platforms, such as Marg Compusoft’s billing software offerings, integrate billing, inventory, point‑of‑sale, and accounting in one system. That integration eliminates silos—sales automatically update stock, invoices flow into finance, and reports consolidate across modules.   Marg ERP’s retail billing software supports GST compliance, multi‑store setups and real‑time inventory tracking, making it a practical choice for Indian small retailers and franchises.   With cloud ERP or billing‑inventory software, you avoid duplicated data entry, mismatched records, and reconciliations. Seamless flow supports efficiency and reduces cost.   Enhanced Accuracy & Regulatory Compliance   Billing and stock entry by hand often leads to human errors—mis‑pricing, tax miscalculations, incorrect stock counts. Software enforces uniform invoice formats, accurate tax calculation, stock level validation, and cost accounting. That fosters trust in your data and helps ensure compliance with tax authorities and audits.   Customer Experience & Brand Professionalism   Professional invoices and fast order fulfilment build customer confidence. Customizable invoice templates—with your logo and branding—make your business look polished. Inventory accuracy prevents sell‑outs, backorders, and mis‑shipments. As Townsquare points out, this improves repeat business and positive reviews.   Future Trends: AI, Analytics & Automation   Looking ahead, automation continues to accelerate. Finance automation tools are expected to grow globally at over 14 % annually from 2024 to 2032. AI will automate approval workflows, detect errors or fraud and drive predictive forecasts. Businesses are already adopting agentic AI for invoice processing and payment follow‑ups—these trends are set to deepen further.   Globally, the billing & invoicing software market was around USD 4.5 billion in 2023, projected to surpass USD 10 billion by 2032—with Asia Pacific growing fastest at a 12+ % CAGR. This shows rising trust and reliance on digital tools among small and mid‑sized businesses worldwide.   Cost-Effectiveness & Return on Investment   Billing‑inventory software often offers tiered or subscription pricing, making it affordable for small businesses. Many offers free trials or starter plans before upgrading. Compared to the cost of errors, stock waste, slow payments and manual time loss, ROI is fast—often within months.  Visit Marg ERP to explore its free trial, demo, and affordable packages, suitable for all budgets.  What are the benefits of Marg Billing Software for small and growing businesses?   Marg ERP, no. 1 inventory and accounting software in India, is tailored for small and growing businesses. It serves over 10 lakh businesses with more...

Manual and human labour-intensive traditional business practices consume a lot of time and are often prone to errors. Automation and AI have transformed the fabric of how businesses used to operate. This brave new world offers tools that nourish your day-to-day business practices, making them efficient and productive.   Billing software is much more than just generating bills. It enhances cash flow, optimises sales & revenue, minimises errors, and boosts overall productivity. Are you wondering how optimised day-to-day business practices can enhance your overall productivity?   We will explore the same in the following sections.   How do businesses Improve Their Day-to-Day Operations with Billing Software India?   Automation & AI: Speeding Up Billing with Precision   Modern billing platforms automate invoice creation, reminders, payment posting, subscription management, and even revenue recognition. By 2025, more than 60% of finance professionals expect full accounts payable invoice automation, with AI cutting human errors by up to 40%.    SaaS billing systems now incorporate AI for predictive invoicing, anomaly detection, and intelligent dispute resolution—significantly reducing manual workload and preventing revenue leakage.   Usage-Based (Consumption) Billing: Align Value with Cost   Usage‑based billing is booming. The global market was estimated at USD 6.40 billion in 2024 and is expected to reach USD 6.86 billion in 2025 (CAGR 7.5%). Around 67% of SaaS firms now employ consumption-based pricing, up from 52% in 2022.   This model charges customers based on actual consumption (API calls, data storage, minutes used, etc.), offering tiered, per‑unit, or hybrid pricing. Businesses benefit from flexible, transparent pricing, higher customer satisfaction, better scaling, and more accurate forecasting.   Real-Time Data & Analytics: Make Decisions Fast   Billing software now delivers live dashboards and analytics on sales, outstanding invoices, DSO (Days Sales Outstanding), churn risk, and usage patterns. Small business billing platforms highlight real-time analytics as a must-have feature for informed financial decisions.    For SaaS businesses, real‑time metrics reshape forecasting by connecting revenue trends directly to usage behaviour.   Integration and Seamless Workflows   Today’s billing tools integrate tightly with CRMs, ERP and accounting systems, payment gateways, and customer portals. This seamless connectivity eliminates manual entry, ensures data consistency, and removes friction across customer life cycle touchpoints.   Blockchain and Temper-Proof Invoicing   Emerging research explores blockchain‑based billing systems that ensure transparency, traceability, and fraud prevention, particularly in markets susceptible to tax evasion. Although still experimental, blockchain billing promises a tamper‑proof record of each exchange—beneficial for audit, tax reporting, and regulatory compliance.   RPA & Structured Data Extraction   Robotic Process Automation (RPA) is being deployed to scan invoices, payment advices, purchase orders, and extract structured data with near-zero error rates and much greater speed than manual processing. This automation streamlines accounts payable and receivable workflows, boosting reliability and lowering labour costs.   Industry Innovation & New Pricing Models   Traditional consultants are re‑thinking billing models like token‑based subscriptions to AI‑powered services, replacing time‑based billing with usage-driven fees—much like software‑as‑a‑service does. Expect more industries to adopt similar models as generative AI proliferates.  Compliance & E-Invoicing Mandates   Globally, governments are mandating structured e‑invoicing for B2B transactions. The EU began enforcing mandatory e‑invoicing in July 2024; Poland’s national e‑invoicing platform (KSeF) launched in mid‑2024; other countries like Malaysia and the UAE are also rolling out mandates.   Automated billing software that complies with these standards ensures legal compliance, faster tax filing, and reduced audit risk. It is becoming a reality in India also.   Book Demo Why Marg ERP is the best billing software for your day-to-day business functions?   Marg ERP is a 32-year experienced software company with 850+ sales and support centres across India. Over 50% pharma and FMCG billing happens over Marg Billing Software. It serves over 10 lakh businesses of all sizes.   Here are its core features that make it ideal for your daily business operations.   GST Compliant  Marg ERP helps you create GST invoices easily. You can upload them in Excel, JSON, or CSV formats. File GSTR-1, 2, 3B, 4, and 9 directly from the software. E-invoicing and return filing is fast, simple, and error-free.  Faster PoS Billing  With Marg’s smart PoS system, billing becomes 50% faster. You can bill with a touchscreen, reduce errors, and quickly access customer or product details — all in one tap.  Safe Cash Handling  Connect a cash drawer to handle payments securely. Track cash flow, monitor each transaction, and manage user access — all in real time.  Quick Barcode Scanning  Scan product barcodes instantly to speed up billing. It also helps with better stock tracking and accuracy — saving time every day.  Custom Invoice Templates  Add your logo, business name, and colours to your invoices. Branded bills look professional and leave a strong impression on customers.  Connected Banking  Make NEFT, RTGS, and other payments right from the Marg invoicing and accounting software. Marg ERP connects with 140+ banks for auto bank reconciliation and offers integrated banking services with J&K Bank, ICICI Bank, Axis Bank and SBI.  Smart Discounts & Offers  Run discount schemes, combo deals, and loyalty offers. Use live data to plan offers that increase repeat sales and customer loyalty.  Inventory Control  Track stock in and out, monitor expiry dates, and spot dead stock. You can also set reorder alerts...

In an era of automation and cloud-based solutions, your business must have advanced billing software for smarter, faster, and more productive business growth. However, it is overwhelming to choose the right billing software in India among dozens of options available. So, how to choose the best ERP for billing and accounting needs?   You should start by browsing essential features that your invoicing software must possess. We will explore the best features of a billing software that you should check, and why Marg ERP is the best invoicing and accounting software in India for small and growing businesses.   Let’s begin.   What are the most important features of the right billing software in India?   Government push for digital transformation, e-invoicing, GST compliance, real-time tax filing, and rising integration of emerging technologies have necessitated the use of a billing software for comprehensive growth in your business performance.    Marg ERP offers demo options for its software. Small and growing businesses can request a free demo to explore the functionalities and features of Marg Billing Software, including GST billing, accounting & invoicing solutions, and inventory management. You can download the software for a free trial or access a demo online.   We will explore how you can access the free trial or demo in the latter half. First, let’s explore essential features to consider when choosing the right billing software for your business.   Book Demo GST Compliance with Auto-Filing   With the latest GST norms and real-time data validation by the GSTN, billing software must offer:   Auto-generated GST invoices   Direct GSTR-1, 3B, 9 filing integration   E-invoicing with QR code and IRN generation   E-way bill generation linked to transport and inventory records   This eliminates manual errors, saves time, and ensures you’re always audit-ready.   Inventory and Stock Management   Small businesses often struggle with tracking stock movement. Modern billing software in 2025 comes with:   Real-time inventory tracking   Batch-wise, lot-wise, and expiry-wise management (especially for pharma, FMCG, and electronics)   Low-stock alerts and auto-reorder suggestions   Barcode scanner integration   This ensures zero wastage, no stockouts, and timely fulfilment.   Multi-Device & Mobile Accessibility   With the rise of remote work and on-the-go business operations, having a mobile billing app is crucial. Today’s billing solutions support:   Cloud sync across devices   Mobile-based billing and reporting   WhatsApp invoice sharing and payment reminders   Role-based user access with data security   This empowers business owners and sales staff to manage operations anytime, anywhere.   Customisable Invoice Templates   Professional billing is about brand impression. Good software allows:   Fully customisable invoice formats with logo, signature, and terms   Support for regional languages   Multi-currency billing (especially useful for export businesses)   This adds credibility and professionalism to your business dealings.   Integrated Payment & UPI Links   Indian customers today prefer digital payments. Modern software embeds:   Direct UPI, QR code, and payment link integration   Payment reconciliation dashboard   Auto-reminders for pending payments via SMS/WhatsApp   It reduces follow-up efforts and improves cash flow.   Customer & Vendor Management   An efficient billing solution in 2025 offers:   Detailed customer and vendor master data   Purchase and sales history tracking   CRM-lite features for managing dues and loyalty   This helps build long-term relationships and better business insights.   Data Backup & Cloud Security   Data is the new currency. The latest software provides:   Daily cloud backups   Encrypted data storage and access logs   Multi-level admin control for sensitive data   This keeps your business safe from loss or cyber threats.   Reports, Analytics & Business Dashboard   To grow, you need to measure. Billing software should offer:   GST-ready reports (Input/Output, HSN summary, etc.)   Profit & Loss, stock ageing, and sales trend analysis   Custom dashboards for real-time business overview   It transforms data into smart decisions.   Why is Marg ERP the best invoicing and billing software in India?   With 32 years of trusted experience and 850+ sales and support centres across India, Marg ERP is the leading choice for billing and business management. Over 10 lakh businesses rely on it every day, and more than 50% of India’s pharma and FMCG billing happens on Marg.   Here's why Marg ERP is the best all-in-one billing software for small and growing businesses in India:   GST-Compliant & E-Invoicing Ready   Marg simplifies GST billing like no other. Create GST invoices in just a few clicks and upload them in Excel, JSON, or CSV formats. File GSTR-1, GSTR-3B, GSTR-4, and GSTR-9 directly from the software. E-invoicing is fully automated—no need for extra tools.   Fast PoS Billing with Cash Drawer Support   Use Marg’s smart touchscreen PoS to speed up billing by up to 50%. Connect a cash drawer to manage payments safely. Every transaction is recorded and easy to track.   Barcode Scanning & Stock Management   Scan barcodes instantly to speed up billing and improve stock accuracy. Track stock levels, expiry dates, returns, and reorder points with ease.   Invoice Personalisation   Create professional, branded invoices by adding your logo, brand colours, and business details. Impress customers while building brand identity.   Connected Banking & Auto Reconciliation   Make NEFT, RTGS, and other payments from within Marg ERP. The Marg billing software provides connected banking service with SBI, Axis, ICICI, and J&K Bank and auto bank reconciliation with 140+ banks. It is automatic, saves time, and avoids errors.   Offers, Discounts & Loyalty Programmes   Create combo offers, discounts, and loyalty schemes with real-time sales data. Run targeted promotions to increase repeat purchases.   Reminders & Notifications   Set automatic payment reminders. Marg Billing...

What invoicing challenges do small businesses face as they grow? And how can invoice software help solve these problems?  As businesses expand, handling invoices manually becomes difficult. Errors, delays, and compliance issues start piling up. And cutting corners to save time often leads to bigger problems like cash flow gaps and unhappy customers.  To manage invoicing efficiently and maintain accuracy, small businesses need a powerful, secure, and easy-to-use invoicing solution.  That solution is a reliable small business invoice software like Marg ERP. It helps streamline your invoicing, stay GST-compliant, and maintain control over your finances—all in one place.  Why Choose Marg ERP for Invoice Generating Software?  Marg ERP is a complete invoicing and accounting software made for Indian small and medium businesses. It offers a wide range of features, including:  GST-ready billing  Inventory and stock management  Advanced accounting tools  Reporting and MIS  e-Invoicing and e-Way bills  Connected banking  POS (Point of Sale) solutions  Order management  Error checking and data validation  Multi-layered data security  Customer and supplier tracking  In the sections below, we will explore seven common invoicing problems faced by small and growing businesses—and how invoice software like Marg ERP solves them.  Book Demo What are the Prominent Invoicing Challenges for Small and Growing Businesses?  Manual Invoicing and Billing Errors  Businesses relying on manual invoicing often face mistakes like:  Incorrect product names, prices, or quantities  Wrong tax calculations (e.g., GST miscalculation)  Duplicate or missing invoices  Impact: These errors delay payments, cause compliance issues, and lead to poor customer experiences.  Delayed Invoice Generation  Invoices are often generated late because of:  Preparing them only at the end of the day or week  Waiting on accountants or bookkeepers  System downtime or outdated tools  Impact: This leads to slower payments, cash flow gaps, and delays in the entire business process.  With Marg ERP, invoices can be created instantly and shared in just a few clicks—keeping your cash flow on track.  GST Compliant Challenges  Small businesses often struggle with:  Choosing correct HSN/SAC codes  Applying proper GST slabs (CGST, SGST, IGST)  Filing GSTR-1 and reconciling with GSTR-3B  Impact: Mistakes can lead to penalties or denied input tax credits.  Marg ERP auto-applies tax rules, generates GST reports, and supports timely filing—keeping you compliant and stress-free.  Lack of Integration with Orders and Inventory  Without integration between billing and inventory:  You may invoice out-of-stock products  Stock levels can mismatch  Double entries may create confusion  Impact: These issues cause delays, errors, and unhappy customers.  Marg ERP connects your orders, inventory, and invoicing in real-time. It ensures you only bill available products and automatically updates inventory levels after each sale.  Poor Payment Tracking and Outstanding Dues  Manually tracking payments often leads to:  Missed payment deadlines  Inaccurate reconciliation  Growing outstanding balances  Impact: Cash flow suffers, and it becomes hard to manage customer credit.  Marg ERP helps by automating payment tracking, sending reminders, and offering reports that highlight overdue invoices. It simplifies your collections and improves cash flow.  Data Loss and No Backup  Traditional invoicing tools like Excel or registers can be risky. They:  Are hard to access during audits or disputes  Can be lost due to crashes, human error, or theft  Offer no real-time backup  Impact: Data loss causes delays, stress, and even legal issues.  Marg ERP is cloud-based, with automatic backups and secure access from anywhere. You never lose your data—even in emergencies.  Unprofessional and Rigid Invoice Formats  Still sending plain or handwritten invoices? These often:  Lack proper branding and layout  Miss important info like terms, contact details, or taxes  Are hard to customize or edit  Impact: Your invoices may look unprofessional, affecting client trust and your brand image.  Marg ERP offers customizable templates with your logo, business info, QR codes, payment links, and terms. You can create professional, branded invoices in minutes.  How Invoice Generator Software Helps?  Let’s recap how small business invoice software like Marg ERP helps overcome invoicing problems:  Automates Billing and Reduces Errors  Product and tax details are auto filled. No typos or wrong calculations. Bills are accurate and GST-compliant.  Speeds up Invoice Generation  Templates, saved customer data, and product catalogs make it easy to generate invoices in minutes—even without accounting expertise.  Ensures GST Compliance  The software updates tax rules automatically, generates GST reports, and simplifies return filing.  Syncs with Orders and Inventory  Real-time inventory updates avoid over-selling and errors. Stock status is always accurate.  Tracks Payments and Improves Cash Flow  Reminders and reports help manage receivables. No more missed payments or rising dues.  Protects Data with Cloud Storage  Backups are automatic. Access your data anytime, from any device, with high-level encryption.  Builds Brand Image with Custom Invoices  Use branded invoice templates to look more professional and improve client trust.  Why Marg ERP is India’s Most Preferred Invoicing Software?  Let’s look at the powerful features that make Marg ERP ideal small business invoice software;  GST Billing & Return Filing: Generate GST invoices, file returns, and upload files in Excel, JSON, or CSV formats directly to the GST portal.  Inventory Management: Track near-expiry, slow-moving, or dump stock. Set reorder points and use the Push Sale feature to avoid shortages.  WhatsApp Billing: Send invoices directly via WhatsApp to save paper and get faster payment responses.  e-Invoicing with 7-Layer Security: Issue e-invoices seamlessly with full data protection and zero downtime.  Marg Pay: Simplifies bill-by-bill reconciliation and improves payment accuracy.  Barcode Management: Helps you track and bill products more accurately.  Connected Banking:...

The days of bahi-khata (a traditional way to maintain accounts including handwritten entries in ledge format) are long gone, it's the automation era we are living in, and businesses are adopting advanced accounting software as a strategic business move. AI, blockchain, cloud, and other emerging technologies are minimising human errors, and logistic losses while enhancing overall productivity significantly.   From the first accounting software for businesses in the late 1950s and early 1960s, handling the increasingly large volumes of financial data of large corporations to cloud and AI-backed billing and inventory for all businesses (small to large) in 2025, accounting software has itself evolved phenomenally over the decades.   As a business owner, you must know the latest movers & shakers the accounting software industry is going through. Here we are going to explore the same to help you amp up your business potential to newer heights.   We also recommend exploring Marg ERP 9+ as the best accounting software in India with advanced integrations, cloud backups, 7 layered security, and market dominance in the pharma and FMCG sector. Keep scrolling for more.    Book Demo Top Trends in Accounting Software in India for Small and Growing Businesses   Emerging Technologies: Reshaping Accounting Universe   GenAI, deep learning, machine learning, and natural language processing together are proving game-changers for accounting teams and processes alike. Businesses are using these technologies to automate repetitive tasks, minimising errors and losses, and generate actionable data-based insights.   Small and growing businesses use these technologies for automatically categorising expenses, predicting future cash flows based on historical data, flagging duplicate invoices, and much more. Your team can utilise freed time thanks to emerging tech and focus on strategic analysis and sustainable growth initiatives.   The Cloud Supremacy: The Dominance of SaaS   Cloud-based invoicing and billing software, delivered through a SaaS model has become the industry standard, Business of all sizes SMEs, MSMEs, Startups, PSUs, and MNCs are utilising the cloud platform for flexibility, scalability, and accessibility.   Emerging Cloud Features and Types for Accounting Software India  AI-powered smart invoice processing including data extraction, matching of invoices, purchases, and reducing manual entries   Automated bank reconciliation, smart expense tracking, and predictive analytics   Multi-factor authentication, regular security audits, and real-time data access   Industry-specific tailored cloud solutions   Cloud solutions designed with open APIs for seamless integration with other apps   Optimised for mobile devices (smartphones, tablets, etc.)   Automation for Core Accounting Functions   Small and growing businesses are using automation at a much larger scale including core accounting functions such as invoice processing, generation of financial reports, and bank reconciliations.   Marg ERP, India’s no.1 small business accounting software, provides a wide range of automated features to streamline business operations, including automated invoice generation, inventory management, and payment processing. It also automates repetitive tasks like reordering and sends auto-reminders on WhatsApp, reducing manual effort and potential errors.   Advanced-Data Analytics and Visualisation   Advanced new-age accounting software has evolved into a powerful business intelligence tool. You can leverage it for analysing and interpreting the story behind numbers, tracking KPIs in real-time, extract specific data points to explain the drivers of your business revenue and expenses. Data-empowered reports help businesses make informed decisions for sustainable growth.   Seamless Mobile Accessibility   Mobile and multi-device accessibility is the need of the hour for every business. From taking online orders, advertising, and raising awareness, to scaling your business, you require software that helps you manage business online.   Mobile and user-friendly accounting software helps small and growing businesses to generate invoices, capture receipts, and manage cash flow anywhere anytime. You can explore Marg ERP for its several mobile-friendly features and apps.   Marg ERP provides mobile-accessible features, primarily through its integrated mobile apps, including eRetail, eOrder, eOwner, and eDelivery apps. These apps allow users to manage orders, track inventory, view ledgers, and monitor sales, collections, and GPS tracking on the move.   Seamless Integration Across Apps and Platforms   Seamless integration across apps empowers small and growing businesses to streamline their operations by creating a unified ecosystem where data flows effortlessly between departments. This eliminates data and process silos, reduces the need for repetitive manual data entry, and minimizes the chances of human error.  Whether it’s syncing inventory with sales, aligning marketing campaigns with financial goals, or automating invoicing and order management, integrated systems provide a centralised and consistent view of business activities. As a result, business owners gain real-time insights across departments and functions—from sales and marketing to inventory and finance—enabling faster, more informed strategic actions and improving overall efficiency and productivity.  Enhanced Security and Fraud Detection   Online security threats have become a major cause of concern in a digitised world. Your accounting software must provide assurance for secured data with advanced security protocols in place. Multi-layered protection, multi-factor authentication, encryption, and security audits are some of the features that you should check before buying an all-in-one accounting software in India.   Known for its exceptional security protocols, Marg ERP is your best bet for seamless accounting and invoicing without worrying about breaches. Join Marg users for;   7-layer data security   Secure cloud access   28-automated data backups   Advanced malware protection   Use...

In today's world, businesses need to keep pace, and it takes tools to keep up, such as auto billing software. Sounds fancy, but in essence, it is a way for companies to simplify the invoicing process. If ever adults complain about how long it takes to send out bills, this solution is all they need. Auto-billing software does all the hard work for you - ensuring everything just gets right, on time, and hassle-free.  What Is Auto Billing Software?  Just imagine that you would need to write down all the bills manually and send alerts to your customers. That would take a while, right? Now, think of a robot that would read your mind, know what you did, and automatically send to your parents that list. That is precisely what auto billing software does for businesses: it automates the sending of bills to customers based on the purchases or services that they have availed themselves of. They no longer need to track the number of every single transaction. This software makes all the calculations and sends precise invoices without the company making even the slightest effort. It is magic-but actually, it is working.  Why Auto Billing Software?  There are a multitude of reasons why businesses love auto billing software. To begin with, it saves time. Time is money, and the more time a business wastes on manual activities, producing invoices, for instance, the less time spent on higher value items in a business such as serving customers or branding. Here are a few more reasons:   Error-free: Humans make mistakes. When someone is entering thousands of numbers manually, he or she might record the wrong charge on an invoice. But automated billing software? It'll get it all right, of course, it will because it's a computer program. No more oops moments where some get charged incorrectly.  Saves Money: So much less paperwork means that businesses don't have to employ as many people just to get out invoices. The software will handle these, and this saves the business cash.  Sends Invoices in Time: Have you ever failed to do your homework? Well, it's easy to forget those little things sometimes. You can forget to send invoices as well. Not so with auto billing software, though. It doesn't forget to send bills, and clients will always get them on time.  Easier for Customers: Automation in invoices means the receipt of bills by the customers is instantaneous. They can pay on time, and therefore, businesses receive their payments instantly as well. No more late payments.  How Does an Auto Bill Generation Software Work?  By now, you have probably been asking yourself: how does this tool work? Let's take a close look at the details but in a really simple way.  Customer Information: An auto billing software keeps in it all the customer information including names, addresses, and payment history. Therefore, as the moment comes when an invoice has to be sent, the software already knows which customers are meant to receive the invoice and what the bill is supposed to contain.  Transaction Monitoring: The software works like a super detective monitoring every sale or service. At the time when a customer makes a purchase, it keeps a record of that.  Invoicing: It is only after this record has been made that the software generates the invoice automatically. All the relevant details in the name of the product or service, price, tax, and due date are added by it.  Send the Invoice: Once created, auto bill generation software sends it out – whether by email, SMS or through postal mail if need be. No-one needs to click the send button.  Reminders: Whenever a customer forgets to pay, well, the auto billing software will send reminders not making a business run around asking people to pay.  Payment Processing: Even some of the best auto billing tools have an integration that lets customers directly pay on the invoice with just one click, so it's super easy.  Why Does Automation Matter in Billing?  The simple answer is it just makes businesses run smoother. So, if a business has 500 customers, and every invoice takes five minutes to create, that's a tremendous amount of time spent just churning out bills. With automation, it happens automatically in the background while the team is busy on other things.  Finally, automation implies that there are fewer errors. Remember, the best of human beings can err, but the best of software adheres to rules and checks everything before it goes out. In fact, errors in billing can cost businesses a lot of money and even upset customers.  Benefits of Auto Billing Software   The requirement for auto billing software in businesses is quite visible at this point, but let's make it absolutely crystal clear. Here are some benefits:  Time-Saving: It's fast. What may take hours to do manually takes minutes or sometimes even seconds.  Error-Free Invoices: No one likes math errors, and the good news is that auto...

Imagine you have a business, then imagine the type of business you want to have. Let’s say you are a manufacturer of medicines. You have a huge clientele, and your daily transaction need to be tracked down. Would you be able to do it manually? NOWhat if you run a grocery shop and you need to keep track of all transactions and money you lent! Would you be able to do it manually? Again, the answer is a definite no.To run any business nowadays, you need software that takes care of all of your transaction history, billing, and accounting so that you can focus on the strategic part. Any business, big or small, has the main goal of selling, and with sales comes billing, hence every growing business needs billing software.Without billing software, managing payment details, creating invoices, and managing records will be a nightmare. But first of all, let us explain what billing software is and what its usages are. What Is Billing Software? In simple terms, billing software is a tool that helps small, medium, and large businesses to create, send, and track invoices, transactions, and revenue. It also manages customer information, reports, and the history of expenses. It is like a digital accountant that handles all your financial transactions and gives you reports of your business that will help you with better decision-making. Why Do You Need Billing Software? Improve Accuracy: Accurate data is the key to success, but human error is inevitable. But if you try to manually maintain data, it won't be error-free. With billing software, you can reduce the risk of mistakes in your invoices and payments. Billing software ensures that all information is accurate and up-to-date. Save Time: Manually creating invoices, tracking payments, and managing customer accounts is a hectic and lengthy process. Billing software automates these tasks by taking the burden off your shoulders and frees up your time to focus on other aspects of your business. Enhance Efficiency: Billing software streamlines your business processes, making it easier to manage your finances and track your revenue. This can lead to increased efficiency and productivity. Improve Customer Satisfaction: A well-organized billing system can help you provide better customer service. You can easily access customer information, generate invoices quickly, and respond promptly to inquiries. Track Your Finances: Billing software provides detailed reports and analytics that can help you track your business's financial performance. This information can be invaluable for making informed decisions and identifying areas for improvement. Types of Businesses That Need Billing Software Small Businesses Small local shops, boutiques, or home-based services are considered small businesses, which often operate on tight budgets with minimal staff. Owners or employees frequently multitask, managing inventory, sales, and customer service simultaneously. For such businesses, investing in billing software can be a game-changer. Easy and efficient billingWith just a few clicks, invoices can be generated, printed, and given to customers. Your customers won't be waiting in long lines. It will quicken your work and will save you a lot of time. Tracks Inventory: Billing software can automatically adjust inventory levels, reducing the risk of stockouts or overstocking. Now you won't have to give ours to maintain inventory manually. Ensures Compliance: It helps small businesses comply with local tax regulations by calculating taxes automatically. As a business, it is important to stay up-to-date with tax information, and having billing software will ensure that you and your business stay updated. Retail Stores Retail stores, whether a single outlet or a chain, require billing software to manage daily transactions efficiently. A huge number of customers buy their daily needs from retail stores; hence, for retailers, speed and accuracy are crucial, especially during peak hours. An effective billing software ensures: Quick Checkouts: Faster billing reduces waiting time for customers, enhancing their shopping experience. Sales Analysis: It provides detailed sales reports, allowing retailers to understand customer preferences and adjust their stock accordingly. Stock analysis: After a day of peak sales, retailers would be able to check what inventory needs to be reordered and what product has less demand Loyalty Program Integration: Many billing software options can integrate with loyalty programs, helping stores reward repeat customers. Service-Based Businesses From freelancers to agencies offering digital marketing, graphic design, or consulting services, billing software is essential for anyone who bills clients based on time, projects, or deliverables. Customizable Invoices: Service-based businesses can create customized invoices based on hourly rates, project milestones, or fixed prices. Automated Reminders: It sends payment reminders automatically, reducing the time spent on follow-ups. Expense Management: Helps track expenses related to specific clients or projects, making it easier to bill accurately. Healthcare providers Healthcare providers, such as clinics, hospitals, or individual practitioners, have complex billing processes. Patients might pay directly, use insurance, or require special payment plans. Manages Multiple Payment Modes: Billing software can handle various payment methods, including cash, credit cards, and insurance claims. Reduces Errors: It minimizes billing errors, which can lead to disputes or delayed payments. Tracks Patient Records: It integrates with patient...

The Indian government has introduced the Goods and Service Tax as an initiative to simplify tax compliance processes. Under this regime, the government has further introduced, the E-Way bill system. E-Way bills serve as electronic documents that are required for the movement of goods that are worth over specified value both intrastate and interstate. What Is an E-Way Bill? To learn to generate an E-Way bill, we first need to understand what is an E-Way Bill. An e-Way bill is a mandatory permit needed for the interstate transportation of goods worth more than Rs.50,000.  It was made obligatory for inter-state supplies from the 1st of April 2018 and for intra-state supplies from the 25th of April 2018.  Some latest updates that were implemented on the E-Way Bill system are:-  Delhi. Starting from the 16th of June, E-Way bills are only required for the transportation of goods that are worth more than 1 lakh, within Delhi, i.e., intrastate. Non-requirements for E-Way bills were implemented for registered sellers and unregistered customers. West Bengal. Starting the 6th of June E-Way bills are only required for the transportation of goods that are worth more than 1 lakh within West Bengal. Tamil Nadu Starting the 2nd of June E-Way bills are only required for the transportation of goods that are worth more than 1 lakh within Tamil Nadu. An E-Way Bill entails its contents in two parts. Part A includes:-  GSTIN of the recipient PIN Code of the place of delivery. Invoice or the Date of Issue.  The value of goods being transported. HSN Code. Part B:- A) Transport Document Number (Goods receipt number/ Railway Receipt Number/ Airway bills number/ Bill of lading number) Step-by-step process of an E-Way Bill Generation Here is a step-by-step detailed explanation on how to generate an e-way bill using the GST portal. https://youtu.be/Pw5MiZJGHD8?si=o7ky9WJYqCg7HOqC Step 1: Log in to the GST Portal The first and foremost step in e-way bill generation is to log in to the GST portal using their respective credentials. As a new user, you need to register on the portal to proceed further. Step 2: Navigate to the E-Way Bill Section After logging in, Navigate to the “E-way Bill” section on the portal, under the “Services” tab Step 3: Select 'Generate New' From the E-Way Bill section, select the option to “Generate New E-Way Bill”. This will redirect you to the E-Way Bill generation form. Step 4: Fill in the Required Details In the E-Way Bill generation form, you need to give every of the fundamental details according to the prerequisites. Key data to be incorporated are:  - Invoice number: Enter the unique receipt or report number related to the transfer. - Invoice Date: Determine the date on which the receipt was given. - Value of Merchandise: Enter the sum value worth of the products being moved, barring charges. - Details of the transporter: Give the details of the carrier, including the carrier ID, vehicle number, and method of transportation. - Party Details: Enter the GSTIN or UIN of both the shipper and the agent, alongside their locations. - Item Subtleties: Determine the details of the merchandise being shipped, including amount, depiction, and HSN code. Step 5: Validate the Information After all the required credentials have been entered, recheck the details and complete the process. Make sure to validate the information provided and make the required corrections before you proceed further. Step 6: Generate and Download the E-Way Bill After you validate your information, click on “ Generate E-Way Bill” to generate an E-way bill electronically. A unique E-Way bill number (EBN) will be allotted to you along with a QR code. Step 7: Print or Save the E-Way Bill After the E-Way bill has been generated, it can be printed or saved electronically for future reference. The E-Way bill has to accompany the goods during transportation, in physical or electronic form. Other Optional Cases of E-Way Bill Generation Update Transport Details In any case, if your mode of transport or vehicle details are supposed to change after an E-Way bill system generation, you can update your transport details on the E-Way Bill GST portal, ensuring that the E-Way Bill system remains a complaint throughout the process. Generate a Combined E-Way Bill  Businesses that are involved in the transportation of multiple consignments in a single vehicle can generate a combined or Consolidated E-Way bill on the E-Way Bill portal. It eases compliance by combining multiple E-Way Bills into one single document. What Must Be the E-Way Bill Validity? An E-Way validity bill depends upon the type of conveyance of the cargo.  For other than non dimensional cargo an e-way bill is valid for one day for a distance of less than 200 km and with every additional 200 km additional day’s validity is added to the EWB. For Non-dimension cargo an e-way bill is valid for one day for a distance of less than 20 km and with every additional 20 km an additional day's validity is added to the EWB. Goods That Don't Require E-Way Bill There are certain situations where the goods are...

Marg ERP is an Inventory and Accounting solution software that has been serving the industry since 1992 and possesses 850+ support centres with advanced features that contribute to managing and overcoming business problems. This software is specially produced to help small-scale businesses and provide them with equal opportunities to ease their success journey. The software also helps all businesses to improve their billing, inventory, and accounting performance. Unlike the manual method, Marg ERP automates all business operations, helping them save time and prepare accurate reports. Additionally, this allows entrepreneurs to record, evaluate, and interpret financial transactions, helping them to simplify complex banking and accounting processes and providing enough time to focus on other business operations.   In addition, users can upload data online and directly store it in Google Drive or OneDrive. They can access the data from anywhere and restore the backup as per their needs. It doesn’t end here, Marg ERP is beyond this.  https://youtu.be/oRpi2fy3REk?si=A6UqetIJLtKR1k1P What is an ERP System? An ERP solution is a comprehensive software that entails several business functions into a unified platform. Plus, it allows companies to control and automate key procedures. ERP software provides savvy services to make informed decisions and drive operations efficiency with consolidated data and real-time data visibility. Some of the ERP software examples other than Marg ERP, are Zoho ERP software, Tally, and more. In this article, we’ll discover how Marg ERP simplifies your business operations effortlessly. Maximise Efficiency Using Marg ERP, you can significantly mitigate the requirement to enter data manually with the cloud ERP software. This ERP solution efficiently manages data by making the data entry process manual-free, eliminating errors and repetitive processes. This allows you to free your workforce from daily activities and use them more efficiently. Thus, MARG ERP software for the manufacturing industry maximizes the overall operational efficiency of a business. Save Cost & Time The system lets you know near-expiry items months or a few days before the due date, that you can either sell fastly or return to the supplier before expiry, avoiding losses on expiry wastage. Additionally, you can create customized invoices with the company name, logo, and identity in the local language that you can send on WhatsApp to your customers which saves you costs on printing. Also, the software itself is very affordable. Financial Management Marg, the best ERP software in India possesses smart financial management features, such as accounting, financial reporting, billing, GST filing, POS, and more. The software automates financial processes, enhancing financial control, transparency in cash flow, and making informed financial decisions. Using this software, you also can create 100% Free e-invoices and upload them directly into the portal. It also helps you easily file GST bills and returns and make accurate GST reports by running an internal GST audit inside Marg. Centralized Data Management Marg ERP solution facilitates centralized data management and eliminates the requirement of multiple single-use systems and manual entry of data. When data is stored in a unified database, companies can ascertain data integral and access updated and accurate insights across the company. Supply Chain Management Marg ERP systems integrate supply chain management functionalities, enabling companies to optimize their procurement, inventory, and logistics procedures. This ensures efficient supply chain operations, minimizes costs, decreases stockouts, and improves customer service.  Live Insights and Reporting This ERP software for the manufacturing industry provides live visibility to all business operations via smart reporting features. Business owners can access accurate and upgraded data on several business aspects, like finances, inventory, billing, sales, and accounting bookkeeping. You can have live updates regarding expiry and reordering, and all billing transactions. This enables them to make data-driven decisions and faster management. Automate Repetitive Tasks Marg ERP system automates repetitive tasks, including re-order, inventory management - expiry, shortage, & excess, and auto-reminders on WhatsApp. Automation within the system eliminates manual efforts, reduces error possibilities, and speeds up the pace of processes, leading to improved productivity and saving cost and time that you can utilize to create something more creative and productive. Scalability & Flexibility Marg ERP system is designed in a way to scale with increasing business requirements. As your organization expands, this ERP system provides you with additional users, locations, features, and functions that ensure effortless processing and remove the extra cost of replacing the system. Regulatory Compliance All industries necessitate compliance with regulations and standards for small as well as large-size businesses. Marg ERP inventory and accounting software comes with built-in features that help enterprises comply with legal and industry-related requirements which mitigates the risk of potential and non-compliance penalties  Strengthen Customer Relations The best ERP software in India comes with features that help businesses strengthen their bond with customers. Marg ERP allows its users to create Loyalty Points and several other offers, schemes, discounts, and vouchers for customers that help retain them for longer. Marg ERP helps increase customer experience by letting users send auto-payment reminders and invoices and providing them with a customized...

              📢 𝗔𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗢𝘄𝗻𝗲𝗿𝘀!  📢 Introduction Not being a matter of compliance, staying ahead in the business finance’s dynamic world means strategic necessity. With respect to MSME (Micro, Small and Medium Enterprises) vendors’ payments, the Finance Act of 2023 introduces an amendment to Section 43B of the Income Tax Act, which would ensure payment towards the goods supplied by MSMEs within 45 days. This is as per provisions provided under Section 15 of the MSMED Act, 2006, to ensure prompt payments so that MSMEs will not be affected by delays in any fund flow issues. This amendment will be effective from FY 2023-24 onwards and it is expected to revolutionize financial planning for businesses at large. This legislative revision demands attention and adaptation among business owners. It revamps the framework under which payments to MSMEs must be processed while setting out specific timelines that if not followed could affect deductibility of these expenses in your tax returns. Understanding every part of this change is necessary towards maximizing your tax efficiency, meeting deadlines, and keeping adequate cash flow. In addition to the introduction that serves as a backdrop for comprehending the importance of the amendment of section 43B and its aspects relating to businesses particularly when dealing with MSME vendors. This blog aims at providing a breakdown for Section 43B amendment in terms that are easy to understand and implement. Our focus shall be on how this will affect your organization, taking illustrative examples into consideration as well as giving practical steps that can allow for seamless transition. Moreover, we shall also look at how technologies like Marg ERP’s Auto WhatsApp Payment Reminders can play an important role in enhancing efficiency, and streamlining your payment processes. Free Download Inventory & Accounting Software Send Your Queries Understanding Section 43B Amendment The recent amendment to Section 43B of the Income Tax Act under the Finance Act 2023 has ordered for a more structured payment approach for MSMEs. This legislative change looks forward to ensuring that MSMEs get paid on time so that they can have an improved cash flow hence their financial stability.  Any purchases made from MSMEs now must be paid within 15 days from date of purchase except if it is agreed upon that there will be a credit period whereby such payment should not exceed 45 days.  In order to claim deduction in FY 2023-24, payments must be made within the specified period. Should this not be done, then during this financial year, the said deduction will fail to be allowed and will be pushed forward to whenever such payment is eventually done.  SCENARIO-BASED UNDERSTANDING To better understand what the amendment means, consider the following scenarios. Scenario 1: On January 15, 2024, a business buys goods worth Rs. 1 lakh from an MSME without specifying any credit terms. The amendment requires that this amount be paid by January 30, 2024 for tax deduction to be claimed in the financial year 2023-24. Scenario 2: In case there is an agreement between the business and an MSME on a credit period of forty-five days, March 1, 2024 becomes the payment due date. This flexibility allows better cash flow management whilst ensuring adherence to tax deduction norms. Scenario 3: For instance, if payment is made by March 31st, it will fall within the fiscal year and therefore the expenditure will be deductible during FY2023-24. However, failure to affect such payments past this time frame transfers such deductions over to next financial periods. Actionable Steps for Compliance In reaction to the change to Section 43B, groups are recommended to take proactive measures to make certain seamless compliance and preserve economic fitness. Here's how: Stay Informed: Keeping abreast of legislative adjustments is crucial. Understand the specifics of the Section 43B modification to make knowledgeable choices approximately your financial planning and operations. Strategic Payment Planning: Adjust your price schedules to align with the state-of-the-art price timelines. Planning your payments within the stipulated length no longer best optimizes tax benefits however additionally helps the economic balance of your MSME organizations. Record Keeping: Accurate and precise document-preserving is greater important than ever. Ensure which you have comprehensive information of all transactions, along with buy dates, fee amounts, and charge dates. This will not most effectively help in proving compliance however also in handling cash flows more effectively. The Power of Auto-WhatsApp Payment Reminders in Streamlining Collections With the modification to Section 43B of the Income Tax Act growing a new paradigm for business transactions with MSME vendors, there's a heightened attention on optimizing financial operations to make sure efficiency and performance. An essential factor of this optimization is streamlining the gathering manner, a challenge that has traditionally consumed significant assets and time for groups. In this context, the introduction of technology driven solutions like Auto WhatsApp Payment Reminders has emerged as a game-changer, offering a plenty of benefits with an aim at...