Understanding Invoices and Receipts on Forhopp

1. What Are Invoices and Receipts?

Invoices:

Invoices are formal requests for payment issued by freelancers to clients after completing a service or project.
They outline the service provided, payment terms, and the total amount due.

Receipts:

Receipts confirm that payment has been made.
They serve as proof of transaction for both freelancers and clients.

2. Why Are Invoices and Receipts Important?

Invoices and receipts are vital for:

Record Keeping: Track income and expenses for financial management and tax purposes.
Professionalism: Enhance trust by providing clear, detailed documentation of transactions.
Tax Compliance: Help users meet their local tax reporting requirements with proper documentation.

3. How Forhopp Handles Invoices

Generating Invoices Automatically:

Forhopp automatically generates invoices for all transactions on the platform.
Freelancers can access invoices for payments received, while clients receive invoices for their purchases.

Customizing Invoices:

Freelancers can add their business logo, tax ID, or additional details to their invoices through the platform’s customization settings.
Clients can request additional details to be added to their invoices for compliance purposes.

Accessing Invoices:

Navigate to the “Billing” or “Transaction History” section in your dashboard.
Select the relevant transaction to view or download the invoice in PDF format.

4. Understanding Key Elements of an Invoice

Every invoice on Forhopp includes:

Invoice Number: A unique identifier for tracking.
Freelancer Details: Name, business name (if applicable), and contact information.
Client Details: Name and billing address.
Service Description: Details of the service provided, including scope and deliverables.
Payment Amount: The total due, including any applicable taxes or fees.
Payment Terms: Deadline for payment and accepted payment methods.
Issue Date: The date the invoice was generated.

5. Receipts on Forhopp

Accessing Receipts:

Clients can access receipts in the “Payment History” section of their dashboard.
Freelancers can access receipts as proof of completed transactions from the same section.

What’s Included in a Receipt?

Payment date.
Freelancer and client details.
Total amount paid.
Transaction ID for reference.

6. Frequently Asked Questions (FAQs)

Q: Can I generate an invoice manually on Forhopp?

A: While invoices are automatically generated, freelancers have the option to create custom invoices if needed.

Q: Are invoices editable after being issued?

A: No, issued invoices cannot be edited. For changes, freelancers must issue a credit note or contact support.

Q: Can clients request an invoice before paying?

A: Yes, freelancers can generate a pro forma invoice for client review before payment.

Q: Are Forhopp invoices and receipts accepted for tax purposes?

A: Yes, Forhopp’s documents comply with global financial standards and are suitable for tax reporting. Check with your local tax authority for specific requirements.

7. Tips for Managing Invoices and Receipts

Stay Organized: Regularly download and back up invoices and receipts to ensure easy access during tax season or audits.
Review Details Carefully: Double-check client and service details before issuing invoices to avoid errors.
Keep Track of Deadlines: For freelancers, follow up on unpaid invoices promptly. For clients, ensure payments are made within the agreed terms.

8. Forhopp’s Commitment to Transparency

At Forhopp, we strive to make financial processes as transparent and efficient as possible. By providing automatically generated, detailed invoices and receipts, we help freelancers and clients focus on what matters most—achieving their goals.

If you have further questions or need assistance with invoices or receipts, contact us at [email protected].