What Are The Different Types Of Invoices And How Hylobiz Can Help create them?

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How do invoices differ? As a business owner can I use the same template across all buyers?  Does the invoice mention the terms and conditions? Do I need to include my bank details?

All these questions and many more when a business or accounting team sits to send invoices. Just to make our customer’s life easier, we are here to help you with different types of invoices and how you can use Hylobiz for collections on time.

So let’s get started –

Proforma Invoice

What is Proforma Invoice?

As a Business Owner or Service provider, often the buyer asks for the costing of the product/services, this is where Proforma Invoice can help you.

Proforma invoices are not the invoice to request payment, but rather an estimated or a notice of the payment that will be due soon to the buyer. The Proforma invoice hash out the estimate part and offers a clear cost to the buyer.

The Proforma invoice also helps the teams, in case they are seeking budget approval before placing the order.

Hylobiz Can Help You To Create Proforma Invoice

  1. Register here at hylo.biz
  2. On the Dashboard you would find an option to send Proforma invoice

3. Fill in the details

4. Click on Action -> Save & Send

5. A confirmation pops up. Click YES

6. A confirmation saying ProForma Sent successfully would be displayed

7. Once you get approval to send the product, you can create an invoice from the Proforma invoice here

Final Invoice

What is Final Invoice?

For the businesses providing services or freelancers/Solopreneurs – once the project is completed, the final invoice is raised/sent to request the payment for the job completion.

A final invoice includes the following points –

  1. Total Cost of services and breakdown of each service
  2. Invoice Number
  3. A due date
  4. TAX/Other charges

Hylobiz Can Help You To Create Final Invoice

  1. Register here at hylo.biz
  2. On the Dashboard you would find an option to send invoice

3. Fill in the details

4. Click on Action -> Save & Send

5. A confirmation pops up. Click YES

6. A confirmation saying Final Invoice has been Sent successfully would be displayed

Sales Invoice

What is a Sales Invoice?

A sales invoice is a document/digital paper that is sent by a business to a client requesting payments for products or services.

The invoice will include a description of the products or services sold, their quantities, and their prices.

Hylobiz Can Help You To Create Sales Invoice

  1. Register here at hylo.biz

2. On the Dashboard you would find an option to send an invoice

3. Fill in the details for the Sales Invoice

4. Click on Action -> Save & Send

5. A confirmation pops up. Click YES

6. A confirmation saying Final Invoice has been Sent successfully would be displayed

Hylobiz is a Digital-first platform for all your Offline and Online Invoice Payments Collection on Time

Hylobiz is a platform that offers business owners, accountants, sales, and marketing teams a way to get invoices paid faster. Loaded with features of seamless integration to ERPs and Banks, it could boost your business in streamlining payments and recognizing revenues.

Hylobiz automates manual processes, lowers transaction costs, and speeds up invoice collection.

Here are some of the features Hylobiz offers –

Invoice Collection – Hylobiz Receivables help you digitize your collection process. You get the power to send your invoices or pro forma to your customers with secured payment links giving multiple payment methods to your customers to make digital payments

ERP Integration – Access your ERP with our pre-integrated ERP list with Hylobiz or just upload your invoice file to kick start your digital collections with a simple two-step process

Automated Reconciliation – Hylobiz helps you with automated reconciliations of your banking transactions. All your receivables and payables are consolidated and updated in a single report with a Unique Payment Identity Number.

Credit Card, loans, and Insurance – Get Business Credit Card, loans, and health or inventory insurance. You can also extend these benefits to your customer who pays on time.

If you want to know if Hylobiz and your company can be a perfect match, schedule a free demo today.

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