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Bill Book Format

When we mention Bill Book, we are not referring to the traditional bill books which are used to record sales manually. Instead, we are talking about bill book software, which is a computerised and the most upgraded version of the traditional bill book. 

Even after the availability of the latest and modern softwares, the traditional bill books are still in use by many businesses, especially the micro, small, and medium enterprises, which cannot afford bill book software. It’s relatively fine to use the traditional bill book format when your business and sales are small in number. But when your sales are increasing month-on-month and when the business is expanding, sticking to the same old bookkeeping practices may not yield productive results. 

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In this article, we will brief you about the modern bill book software, the features and benefits offered by it and compare it with the traditional bill book format for your better understanding.

What is a Bill Book Software

A Bill Book software is a billing, accounting and inventory management software that replaces the traditional method of bookkeeping. A bill book software helps businesses generate invoices of all types, saves customer information and product catalogues, records expenses, tracks sales and payments, generates reports, helps file GST returns, manages inventory and provides many other accounting services. 

In a nutshell, a comprehensive billing software does all the manual work done by an accountant with less effort and in a short time. As both billing and accounting operations are integrated in the software both the operations are carried out by the software effectively.

Features of an Online Bill Book Software

Not all the bill book softwares are designed the same. However, there are some basic features that most popular bill book softwares offer. Listed below are such features. 

GST/Non-GST Invoice Generation: As the name suggests, the main function of bill book software is to generate invoices. Just like how a traditional bill book format does. Every bill book software provides an option to create invoices. Efficient billing software is one that provides both GST and non-GST invoices. With the entry of basic details, a bill book software generates sales invoices in seconds. You can either take a printout of the invoice or share it with your customers. 

In advanced bill book softwares, you will find options to customise invoices and create different types of sales invoices including quotations, estimates, proforma invoices, delivery challans, credit and debit notes, etc. Such softwares like myBillBook also provide an option to share the invoices directly with the clients through Whatsapp and e-mail. 

Add/Edit Parties: If your business runs on repeat customers, having a record of the clients helps you in many ways. A bill book format software has a provision to add customer details, edit them when required and use the same while generating invoices. This means you don’t have to enter the customer details every time you create an invoice for the same customer. Further, the record creation helps to track pending dues of the customer, sales records, products purchased, etc. 

Add/Edit Product Lists: Similar to recording customer information, the bill book software also records product information. You can either enter product details one by one or do it in bulk in the bill book format software. This product catalogue makes invoice generation easy by auto-populating the product details like price, tax, etc., by simply selecting the product name. 

Creates Different Types of Invoices: Not just sales invoices, a billing software also enables the creation of different invoices including quotations or estimates, proforma invoices, debit/credit notes, delivery challans, etc. 

Record Payments & Expenses: Once you have the record of all the invoices and customers, the bill book format software enables you to enter payments received from all the pending customers. It also allows the entry of all the business expenses, allowing you to track the business income and expenditure in one place.

Generates Reports: With all the features of a bill book software, it has most of your business sales data using which the billing software generates various analytical reports. Daily/weekly sales reports, P&L reports, inventory reports, party ledgers, expense reports, product reports, transaction reports, etc. These reports help you to know the business status and plan your future plans accordingly. They also help in filing GST returns. 

Advanced Features: While the above-mentioned features are more or less available on most popular bill book softwares, billing softwares like myBillBook provides some advanced features that could help users make the most of the software.
Retail point-of-sale (POS) billing, smart payments collect, staff management, cash & bank are some of the useful features offered by myBillBook.

Bill Book Software Vs. Traditional bill book Format

Now that you understood the various features offered by bill book software, you might already get the world of difference that the latter does to your business. However, to provide you with a better picture of the same here is the comparison between traditional bill book format and bill book software. 

  • Business Image: A well-formatted bill memo format always represents your brand in a professional manner. While a bill book software provides such a provision, the same would be missing in traditional bill book format where the details are typically hand-written.
  • Bookkeeping: The billing software takes care of all recording tasks and retrieves the same when required. In traditional bill book formats, there is no such provision and everything needs to be taken care of manually. All the hard copies of the cash memos need to be filed carefully and finding one particular bill or information would be a hectic task. 
  • Calculations: From the total price of the sale to applicable tax, bill book software does all the calculations while generating an invoice. A bill book format on the other hand makes you do everything manually increasing the risk of errors. 
  • Tax filing: When everything is in place, tax filing becomes cake on the walk with the bill book software. And with manual bill copies, we don’t have to explain how messy it becomes. 
  • Cost: Purchasing a bill book might cost you less when compared to subscribing to a bill boo software. But the benefits and the convenience provided by the latter undoubtedly outweigh the costs incurred. 

FAQs about Bill Book Format

What is a bill book?

A bill book is a book for keeping the financial records of a business such as bills, bills of exchange, promissory notes, etc.

What is a custom bill book format?

A custom bill book format is a modifiable template for creating bill books. You can make customisations as per your needs and generate personalised bill book formats for your business.

Where can I get a custom bill book format?

There are a number of online bill book softwares for generating and printing custom bill book formats. myBillBook offers one of the best features when it comes to creating customised bill books and invoices.

How can I customise mybillbooks?

The first step to customising your bill book formats is selecting a reliable online bill book generator. myBillBook offers a host of features to create professional bill book formats for all business types. Start customising your bill books by selecting one out of the many free and pre-designed templates, add the requisite details such as company name, logo, or company slogan. You also have the option of uploading your own design, but ensure that the resolution is of good quality.

What features can I customise in a custom bill book?

The best part about custom bill book formats is that you can modify different technical aspects of the bill book such as the size of the book, the quality of the paper, the type of cover (hard/soft), the number of sheets in a book, number of carbon copies (duplicate/triplicate), etc.

What paper sizes are available in myBillBook?

myBillBook offers regular printing (A4 and A5) as well as thermal printing (2-inch and 3-inch paper).

Can I create bills with GST on myBillBook?

Yes, you can. With myBillBook, you can create bills with or without GST as per your need.

What else can I create on myBillBook other than bills?

Besides bills and invoices, you can create payment receipts, purchase vouchers, purchase orders, quotations, purchase returns, sales returns, expense vouchers, and delivery challans on myBillBook.

Know more about  Billing & Accounting Software for Small Businesses