7 important features of invoicing software (that you won’t find in Word or Excel!)

Written by Kate Kate , 15 July 2019

Many small businesses and freelancers start issuing invoices with Word or Excel. Initially, this makes quite a lot of sense – you already know how to use them and they’re already installed on your computer. But as your business grows, you’ll soon realise that Word and Excel aren’t the best options for invoicing, simply because that isn’t what they’re designed for.

On the other hand, while it might seem like an unnecessary expense to pay for an additional program just for invoicing, investing in invoicing software is the smarter option in the long run, not least because specialist software has many options and functions that simply aren’t available in Word or Excel – including these 7 important features.

Invoicing software has several important features that you won't find in Word or Excel. Here's 7 of them.

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Taxes for sole traders and small businesses in Australia

Written by Kate Kate , 10 July 2019 in Australia Taxes

When you run a small business or work as a sole trader, you become responsible for managing your company taxes, which involves charging sales tax, lodging tax returns, and claiming tax credits. It’s therefore important to understand which taxes you might be accountable for if you run your own business in Australia.

In this blog post, we take a look at some of the main business taxes in Australia and explain how they might affect sole traders and small business owners.

Debitoor invoicing and accounting software helps small businesses and sole traders stay on top of company taxes

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Invoice templates for sole traders

Written by Kate Kate , 3 July 2019

Most business owners issue invoices on a regular basis. This can become repetitive and time-consuming if you manually create each and every invoice, but using a pre-made invoice template can save you time and make sure that your invoices contain all of the necessary details. Here’s what sole traders should look for in an invoice template.

An invoice template for sole traders, created with Debitoor invoicing software

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Business name or trading name: which should I use?

Written by Kate Kate , 1 July 2019

The name of your business is a key part of your brand and identity – it’s displayed on signs and paperwork, it’s promoted through your advertising and marketing, and it’s stated on all of your financial reports and tax returns.

When limited companies incorporate, they’re required to register an official name with Companies House; however, they also have the option of trading under another name. But why would your business use two different names, and what are the pros and cons of doing this? Here’s what you need to consider when using a trading name.

Find out whether you should use your business name or a trading name with Debitoor invoicing software

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Invoice templates for CIS subcontractors

Written by Kate Kate , 28 May 2019

If you run a business or carry out freelance work, you’ll be used to issuing invoices. But as a subcontractor working in construction, you'll need to make a couple of adjustments to standard invoice templates if you want to get paid correctly.

In this article, we explain how to add CIS deductions to an invoice template, how to handle CIS and tax, and how you can use Debitoor to create CIS-compliant invoices.

A CIS subcontractor with a laptop and documents

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The cashless economy: how your business can keep up

Written by Kate Kate , 23 May 2019

The UK’s economy is becoming increasingly digital, with cash being used for fewer payments than ever before. In order to keep up, it’s important that small businesses adapt to the changes that lie ahead. Here’s the steps you should take to make sure that your business doesn’t get left behind in the cashless economy.

A women holiday a credit card and text saying 'Cashless economy, are you ready?"

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Accounting software without an accountant?

Written by Kate Kate , 20 May 2019

Many freelancers, entrepreneurs, and small business owners use accounting software as a way to save money and get more control over their finances; however, it’s a big mistake to think that your accounting software can replace your accountant altogether.

Debitoor accounting & invoicing software makes it easy to collaborate with your accountant

In this blog post, we look at why you need both an accountant and accounting software, how you can combine the two, and how you can use Debitoor accounting & invoicing software to collaborate with your accountant.

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Invoices vs. sales receipts: what's the difference?

Written by Kate Kate , 6 May 2019

As a freelancer, entrepreneur, or small business owner, you’re responsible for documenting your company’s finances, which involves keeping detailed records of the sales you make with either invoices or sales receipts.

In many ways, a sales receipt is essentially a simplified invoice. However, there are some important differences. This article explains how to distinguish between invoices and sales receipts, how to know which one to issue, and why they’re both important parts of your company’s financial records.

A photo of a sales receipt and an invoice created with Debitoor invoicing software

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Proforma invoices and VAT

Written by Kate Kate , 25 April 2019 in Taxes

It's common for freelancers and small businesses to issue proforma invoices when the final details of a sale haven’t yet been confirmed. But, because there are fewer official guidelines for proforma invoices than for finalised invoices, it’s easy to get confused about what information should be included, when they can be used, and how they should handle VAT.

To make things clearer, this article takes a look at whether you should include VAT on your proforma invoices and whether proforma invoices are considered official documents for tax purposes.

A proforma invoice created with Debitoor invoicing and accounting software

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New UK tax year: what 2019-2020 means for small businesses

Written by Kate Kate , 8 April 2019 in Taxes

Each April welcomes the start of a new tax year in the UK. As always, the new tax year means new tax rates and thresholds, many of which were announced in the 2018 Autumn budget.

Many of these changes have a big impact on business owners, freelancers, and the self-employed. So to help you understand how your business might be affected by the new tax year, we take a look at what's new for 2019-2020.

It's the start of the new tax year for 2019-2020. Find out what this means for your business with Debitoor invoicing software

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