Invoice printing

Invoice printing is a traditional way of recording a sale transaction. Sending an invoice copy to the customer reminds him of the goods sold or work completed as the case may be. 

What does invoice printing mean?

An invoice is a commercial document used to record a transaction between the buyer and the seller. Printing an invoice means keeping or storing a physical copy of the sale transaction. A business owner should first check the invoice fully before printing it. Nowadays, computer-generated invoices are very common. They are then printed and sent to the customer on demand.

Physical invoice copy is not mandatory if the invoice is created as per rule 48(4) of the CGST Rules and it has a Quick Response Code and an Invoice Reference Number embedded on it.

Steps involved in printing invoice

Below steps should be followed before printing an invoice:

Step 1: Open the invoice in your respective software.

Step 2: Check the details mentioned in the invoice, such as date, amount, payment due date, tax, the amount payable, etc.

Step 3: Check whether the invoice complies with the e-invoicing requirement if the turnover exceeds Rs.50 crore.

Step 3: Check the print preview.

Step 4: Click on the print option to get it printed.

Advantages and disadvantages of printing invoice

Advantages:

1. Record keeping- Printed invoices are used for record-keeping and assessing tax liability.
2. Easy to read- Printed documents are easy to read when compared to electronic documents.

Disadvantages:

1. Increases cost- Printing an invoice costs money. You need to spend on a printer and toner. On the other hand, electronic documents cost minimal compared to printed ones.
2. Damaged environment- Creating pages lead to the killing of trees. Also, the printer and toner consume a lot of power. Toner consists of many chemicals which damage the environment.
3. Increased time- Employees waste a lot of time printing, sending and tracking invoices manually. This time can be saved if digital invoices are used. They can be stored on the cloud and can be accessed from anywhere.

Industries or sectors where invoice printing is prevalent

Invoice printing is prevalent in the following sectors:

• Supermarkets and shopping malls
• Retail sector
• Healthcare sector
• Restaurants

The best alternative to invoice printing

Printing invoices can be tough, especially when your business is in a growing phase and generating hundreds of invoices daily. One can eliminate the need for physical invoices by using various online invoicing tools available in the market. These tools help in creating, emailing and tracking invoices payments. Team Clear also provides an online invoicing tool that does more than invoicing- known as ClearOne. One can easily email the invoices created from these online generating tools to avoid hassles.