In this article you will be going to know about:
- What is the Invoice?
- What is the difference between a receipt and an invoice?
- Paytabs Invoices Features
- Invoice Payment Workflow
- Dealing with Invoices on Merchant Dashboard
- Dealing with Invoices via Paytabs Transactional APIs
What is an Invoice?
An invoice is a document that you send to your client after the purchase of goods or services from you, both as a means of recording the sale and of requesting payment from them.
What is the difference between a receipt and an invoice?
Invoices are issued prior to the customer sending the payment, whereas a receipt is issued after the payment has been received. The invoice acts as a request for payment, on the other hand, the receipt acts as proof of payment. For more business information about this please check the difference between a receipt and an invoice solution article.
Paytabs Invoices Features
Paytabs provides you with several features through her invoice service, that can help you to manage your business more professionally.
PayTabs invoice is an electronic invoicing system designed to help you manage, send and receive payments digitally.
Accept Instant Payments
This means that you can Send, Receive and Share invoices via QR code, Email, SMS, or social media channels.
Customize and itemize your invoice
You can customize your invoice theme and fields. Also, there is a multi-currency option that supports your invoices as per your product listing.
With PayTabs, you can set up a recurring process to settle payments daily, weekly, monthly, or even annually.
Recurring feature is only available with our APIs, SDKs, and Plugins integration methods. It can not be done from the dashboard.
Invoice Payment Workflow:
- The merchant creates an invoice.
- Then he sends the Invoice Link to the customer.
- Once the invoice activation date comes and before the expiration date, the customer would be able to pay the invoice.
- The customer opens the invoice link and clicks on “Pay Now”
Note that if the date is before the activation date or after the expiration date, the invoice payment would be disabled.
- Payment Page would be opened, customer walk-through the payment till the payment is done.
Once the invoice is paid, the link to the invoice will redirect to "the invoice is paid" page
- Merchant can view all invoices via Merchant Dashboard.
Dealing with Invoices on Merchant Dashboard
Without any integration required, merchants can issue invoices from the dashboard by simply filling out the standard form which includes some main information. Also, it provides you the option to save the invoice for later, you can save and send it by the email provided or even send it by SMS. All of these features and how to deal with them can be found in our Dealing with Invoices on Merchant Dashboard article.
Dealing with Invoices via Paytabs Transactional APIs
Invoices APIs enable you to create, cancel, or query any invoice you want via APIs endpoints. Only using Invoices APIs enables you to recurring payments via creating an invoice with tokenization. To know more about this you may like to check our Dealing with Invoices via Paytabs Transactional APIs article.