ProfitBooks offers the simplest way to create professional invoices. However, creating and sending an invoice to your customer is a job half done. Most of our users tell us that it takes them average 18 days to receive money once the invoice is sent.

So, to solve this problem, we had integrated Instamojo payment gateway with ProfitBooks. That allowed our users to send a payment link along with invoices and get paid faster. However, payment gateway fee on every transaction was still a concern for many users.

Now, we are gone a step further and partnered with CashFree payment gateway service that offers extremely affordable transaction fee.

Pay just Rs. 99 or 1.9% on every transaction – whichever is lower.

No matter if the invoice amount is Rs. 10,000 or Rs. 10,00,000, you only pay maximum Rs. 99!

Your customers can pay with credit/debit card, netbanking and even with wallets like MobiKwick. Below are the transaction charges:
• Credit/Debit Card : 1.90% of the transaction amount
• Net Banking : 1.90% of the transaction amount or Rs.99 whichever is minimum.
• Wallets : 2.25% of the transaction amount.
Here are the steps to set it up:

Request For A New Account

For creating a new account, scanned copies of following documents are needed to be uploaded :

• Pan Card
• Letter of Incorporation
• Cancelled cheque

The document verification process takes around 2 business days to complete. After the account activation, the customer will be informed with an email containing the Application Id (App ID) and the Secret Key for account activation.



Configuring Payment Gateway

Login to ProfitBooks account and go to Settings -> Payment Gateways. Go to the section ‘Enable CashFree in Invoices’ and enter the details as received from ProfitBooks. The Bank account you wish to receive payments in should be the same as that of the bank account provided while activating CashFree account.

Additionally, you need to configure the expense account and expense tax account to record automated receipt and expense entries by system on behalf of you.

Expense Account: Payment Gateway Charges (if not present create an account from accounts section in ProfitBooks with the same name)

Expense Tax Account: As per the rule, the taxes to applied on gateway charges is GST @ 18 % on the purchase.



Link Generation

Now, create a new invoice or open an existing invoice. If the gateway is enabled in the account settings, a button with a caption ‘Generate Payment Link via CashFree’ appears. To ensure the identity of the customer, it is must to provide email and mobile number as shown in the screenshot below.



You can verify the details on the pop-up window that opens after clicking on the button.

In case any of the key invoice details such as amount is updated, it is required to update the payment link again. Just update the invoice and then click on ‘Update Payment Link’ button.

The history related to payment gateway can be viewed from the ‘show invoice history’ button as shown below.



 

Email Invoice Along With A Payment Link

While e-mailing invoices, check the add payment link option, then the link appears inside the textbox along with the existing mail content.



 

What Happens Once You Get Paid

After a successful transaction from your customer side, the Invoice status is marked as paid (based on the response from payment gateway),  a new receipt voucher for the received amount and an indirect expense entry along with service tax for payment gateway is generated.

 

That’s it !

Isn’t it easy to go cash free and get paid faster? Try it now.
Feel free to ask queries in the comment section below.

Also Read:
How To Integrate Instamojo With ProfitBooks
How To Write Effective Invoice Terms
How To Create Professional Invoices

The post Go Cashfree With ProfitBooks! appeared first on ProfitBooks.net.

Now, get paid faster with ProfitBooks. You can now add a payment link to invoices when you email them to your customers. This guide shows how to integrate your Instamojo account and start receiving payments directly in ProfitBooks.

Meet Instamojo

Instamojo one of the best payment gateways in India. You can enable your customers to pay you using credit/debit card or netbanking. Sellers just need a working bank account to enroll themselves at Instamojo, and start selling online. Instamojo charges 2% of the successful transactions and service tax extra. Instamojo will collect the money on your behalf and send the amount in your bank account within 3 business days. There is no other fee to use the service.

Signup Free With Instamojo. As a ProfitBooks customer, you’ll get faster approval.

Steps To Integrate Instamojo With ProfitBooks

You can now integrate Instamojo with ProfitBooks and start collecting payments for the invoices that are emailed to your customers from ProfitBooks. Its assumed that you have active accounts on both Instamojo & ProfitBooks. Here are the steps:

1. Get some information from your Instamojo account
   Login to https://www.instamojo.com/integrations with your registered Instamojo account and note details for Private Api KeyPrivate API key is a secret token which is submitted to Instamojo alongside requests in order to identify the origin of the request, Private Auth TokenPrivate Auth token is to determine which account an API request is coming from and Private Salt Key. You can find these details by clicking on ‘API & Plugins’ link on dashboard as shown below.



2. Login to ProfitBooks account and go to Settings -> Invoices. Go to the section ‘Enable Instamojo Payment Gateway’ and enter the details. The Bank account you wish to receive payments in should be the same as that of the bank account provided while activating Instamojo account.




3. Now, when you create an invoice, you should see a button ‘Generate Payment via Instamojo’ as shown below.

   

    

   Clicking on this button will show a popup with all the payment details. If Mobile number of customer is provided, then checkbox can be enabled to send automated SMS containing the payment link from Instamojo to customer mobile. (This is an optional field)

   

4. Email payment link
   

   By default, the email invoice screen contains customer name, total amount due and due date. By checking Include payment link, you can append payment link with the existing text as shown below.

   

   This payment link option remains hidden until the payment gateway is configured and until at least a link is generated.

After Successful generation, a summary appears just below the ‘Generate Payment’ button that contains details on when and who created the link as shown below.

Each time you update the invoice, you have to generate a fresh link. Ensure that the summary shows correct amount.

Warning/Error Messages

Above image illustrates the case when the payment gateway is not properly configured or not yet ready to use.

Instamojo only supports transaction in Indian Currency.  For all invoices other than INR currencies a warning message appears as shown below.

For ensuring identity of customers and to maintain communication with customers, it is mandatory to provide either email or mobile number. If either of this is absent in that case an error message appears as shown below.

Post Payment

After a successful transaction from your customer, ProfitBooks receives a notification from Instamojo. Then, the Invoice status is marked as paid, a new receipt voucher for the received amount and an indirect expense entry for online payment fees is generated automatically.

As shown below, for a total amount of Rs 10.00 a payment of Rs 9.81 is a Receipt and 1.9% of 10.00 are shown as an expense Incurred for Instamojo online payment. In the Show Invoice History, the date and time of the payment is displayed.

Hope this guide helps you in collecting payments faster using Instamojo & ProfitBooks.

Also read:
How to create professional invoices
How to manage business expenses

The post Integrate Instamojo With ProfitBooks appeared first on ProfitBooks.net.