These days, it’s rare for companies not to do business with organizations and individuals at a global level. Whether you’re selling to global patrons or working with a small business owner, the global economy means there’s no shortage of transactions happening daily. And, odds are, you’ll find yourself selling goods or services to someone in India.
India is the most populous country on earth and home to a burgeoning economy that’s growing bigger by the day. As a result, Indian consumers and companies are looking beyond their borders for goods and services—often, sourced from the United States.
When it comes time to transact, you’ll need to send an invoice to your Indian counterpart to collect the funds you’re owed. Here’s a look at how to invoice someone in India, with a mind for making the transaction as simple, expedient and transparent as possible.
First things first: to send an invoice, you need to compile the right information. The recipient needs to know exactly what they’re paying for, how much they owe and any other pertinent details used for their own record keeping or accounting. Here’s a quick smattering of information that most standard invoices can and should include:
One more important consideration when doing business in India is currency. Generally, it’s standard practice to send a foreign invoice in the local currency—in this case, the Indian Rupee (INR). Companies need to adjust the amount of the invoice to account for currency conversion and make a note of that adjustment somewhere on the invoice.
Once you have the information necessary for an invoice, it’s necessary to digitize it. For many businesses, it’s easy enough to enter this information right into invoicing software. However, lots of businesses still do paper invoicing, which necessitates the use of digital capture data. Through a payment platform like Veem, you can actually scan documents and drop them into the software, to have an invoice automatically created. It’s a simple way to create digital transparency in a world that’s slowly leaving paper invoicing behind.
Through a platform like Veem, there are even easier ways to send an invoice to someone in India through entirely digital means. Specifically, using Pay Links.
Pay Links are exactly what they sound like: links that a business can include anywhere, that link to an invoice with the means to make a payment using a digital transfer. Drop the Pay Link into an email, send it through a messaging platform or even send it via text message—so long as the recipient can click it, they can get the link to pay their invoice.
There’s one more final piece of the puzzle to consider when invoicing someone in India: accounts receivable. If you’re using a platform like Veem, the answer comes in the form of integration. Syncing your digital invoicing and payments platform up to your bookkeeping software is a simple way to make sure all funds are recognized and accounted for, without delay. Whether that’s QuickBooks, Xero, Botkeeper or some other software, make sure you’ve got the accounting automations to keep your books balanced.
When it comes to sending an invoice to someone in India, the simpler and more straightforward you can make the process, the easier it is to get paid. Veem provides businesses all the tools to create, send, receive and audit digital invoices, no matter where in the world you’re sending them. From useful features like Pay Links and data capture to bookkeeping integrations and automations, it’s never been easier to get paid.
Ready to create, customize and manage your invoices like never before? Schedule a demo with Veem today and learn how to make invoicing the easiest part of doing business abroad.
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