Invoicing in Singapore

This article has been especially created for new and existing Singapore businesses that would like a systematic way of organising their invoicing process. As you may know, there are several methods of invoicing and just below, we have prepared a list of the most common ways in which invoices can be processed. Our top 4 recommended invoice processes can be used by any type of business.

• Invoicing with Invoice Software
• Invoicing in Excel or Word
• PDF Invoice Generator
• Traditional Paper Invoicing

• Invoicing with Invoice Software

  

  • PROS:

    • Fast to make and deliver the invoice
    • Easy to organize invoices, customers and products
    • Easy to manage
    • Eco-friendly

  • CONS:

    • Takes time to set up your account in the beginning

  • PRICE:

    • S$14.85 / month

  TRY IT FREE

• 
  

  Invoicing in Excel or Word

  

  • PROS:

    • Easy to start
    • Eco-friendly

  • CONS:

    • Hard to maintain and manage
    • Time consuming

  • PRICE:

    • requires Microsoft Office subscription or license

  Download a free invoice template for Singapore, modify it and deliver to your customers by email:

  • Word invoice templates(.dotx, .doc)
  • Excel invoice templates(.xls)
• 
  

  PDF Invoice Generator

  

  • PROS:

    • PDF invoices
    • Easy

  • CONS:

    • Time consuming
    • Hard to maintain and manage

  • PRICE:

    • free
  
  PDF invoice generator for Singapore
• 
  

  Traditional Paper Invoicing

  

  • PROS:

    • Some customers may prefer to receive paper invoices

  • CONS:

    • Time consuming
    • Hard to maintain and manage
    • Expensive
    • Not eco-friendly

  • PRICE:

    • the price may vary, based on the amount of paper mails you send monthly

  Download a free blank invoice template for Singapore, fill it in, print it and send to your customer by mail:

  • Invoice template for GST payer Word
  • Invoice template for GST non payer Excel
• 
  

  How does Invoicing Work

  Issuing an invoice in Singapore can be done in the following simple steps:

  1. Create invoice

     Create an invoice by filling out all the vital details that are required on the invoice such as product, price and quantity. It is standard practice to double check all these details to ensure that there are no errors or irregularities.

  2. Send invoice

     Ensure that you send the invoice to your customer’s correct email address. It may seem obvious to double check your customer’s email address but it is good practice to do so. This attention to detail will save you from any accidental email situations which could lead to a breach of confidentiality.

  3. Send invoice to your accountant

     Sending a copy of invoices to your accountant is a necessary step in your invoicing processing system. This is because your accountant needs to process these invoices in order to calculate any tax owing to the tax authorities. By doing this on a regular basis, you can avoid any tax problems, which is the last thing that you need to worry about as a business owner.

  4. Track received payments

     Stay on top of your invoices that you send and also, your received payments. By keeping up to date and tracking all your received payments, you will have a solid idea of your current cash flow situation which is crucial to running your business.