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GST compliant invoice for stripe #billing #invoice

Sat, 02 Oct 2021 05:23:00 +0000

Stripe supports outstanding invoice, i.e. statements of amounts owed by the customer and receipts after payment. But in India's GST regime, tax invoices are to be provided after delivering the service i.e. after payment and has very specific rules for how the invoice should be.

Stripe's invoice is not compliant with the India's GST invoice regulations(lack of required fields), Forcing me to generate my own invoice; Which is fine for the SaaS products where I have back-end to process the invoice but on services where there's no back-end e.g. static websites I have to generate the invoice manually.
I have a separate Stripe account for each product/service for convenience under single GST registration which requires the invoice number across accounts to be in same sequence but is not possible with Stripe.

These are some of the major need-gaps I have noticed with Stripe's invoicing service in India, It may or may not be applicable to GST regimes of other countries. Companies with revenue over 50 crores (500 million) can use Govt's E-Invoicing API and so this need-gap affects only small businesses and indies.

3 points posted by Abishek Muthian

What will be my AWS bill after free 12 months #calculator #billing

Mon, 02 Aug 2021 13:41:00 +0000

My free 12 months AWS ends soon and I am trying to calculate the future bill after it ends. But AWS only shows $0.00 for all the items in the previous month bills because its negated from the credits.

AWS has a forecast tool but it's useless for this scenario as previous bills were all $0 and so it forecasts the current month where the AWS free tier ends as $0 as well.

In order to estimate the future bill I have to individually calculate cost for each item with its price and usage or wait till the free-tier ends and find it out from the first bill.

3 points posted by Batuhan

Invoice fraud #billing #frauddetection

Mon, 10 Feb 2020 12:03:00 +0000

Recently, a manager in the company I work for got caught for siphoning off money via fake invoices to the company. I came to know via my friends that this is a common occurrence and has occurred in some of their companies as well.

There are different types of invoice fraud, employee perpetrated fraud seems to be one of the common ways. Some has even gone to the lengths of setting up fake business to bill out $6 Million from their employer.

In other forms of invoice fraud, criminals convince account payable of businesses to payout a false invoice; even behemoths like Google and Facebook have fallen victim to this. Invoice fraud is said to cost small businesses Billions every year.

I think there is a need gap in detecting false invoices and streamlining the process of invoice payments altogether.

2 points posted by Doku