Welcome to the second article in our series about BizFirst and its features. In the first article, we discussed how to set up a BizFirst account and integrate it into your e-commerce store. In this article, we will guide you through using the Invoices feature on the BizFirst application. This powerful tool enables you to create, send, and track USDC-based invoices, simplifying the invoicing process for your online business or freelance work. The major benefits of using BizFirst vs traditional (web2) alternatives are as follows:
- Lower transaction fees: BizFirst offers significantly reduced transaction fees (0.5%) compared to traditional Web2 payment methods, which typically charge between 2–4%. This results in substantial cost savings for merchants and freelancers.
- Instant settlement: Unlike Web2 payment systems that may take days to settle transactions, BizFirst provides real-time, on-chain settlement in under 5 seconds, thanks to the speed of Solana’s blockchain technology. This accelerates cash flow and eliminates the need for short-term borrowing to cover settlement delays.
- Enhanced security and reduced fraud: With BizFirst’s blockchain-based infrastructure, the risk of chargebacks and fraudulent activities is virtually eliminated. Transactions are secure, transparent, and irreversible, providing peace of mind for both merchants and customers.
Note: The Invoices module can be used by both merchants and freelancers.
Step 1: Access the Invoices Feature
After logging in to your BizFirst account, navigate to the left sidebar and click on the “Invoices” tab. This will take you to the main Invoices page, where you can view and manage all of your created invoices.
Step 2: Add Customers and Items to the Inventory
Before creating an invoice, you’ll need to add customer details and items to your BizFirst account. These can be saved and reused for future invoices.
To add customer details, just enter a new email address/name in the billing to section of this invoice. This will then proceed to open a pop-up which you can then use to add all customer details.
To add items to your inventory, type in a new “Item name” and click “Add Item to inventory” and fill in the item name, description, price per unit, and other necessary details. You can also choose a template type, such as hourly, to bill by the hour for freelance work. Save the item to use it in future invoices.
Step 3: Add tax, shipping and discount details
Enter a unique invoice number for tracking purposes, set the due date, and choose the BizFirst wallet to which the payment will be credited.
For merchants, add any local tax information, shipping costs, and discounts, if applicable.
Step 4: Create the New Invoice
Click the “Create Invoice” button located at the top-right corner of the Invoices page.
Review the invoice summary, which displays the total amount due in USDC. Make any necessary adjustments before proceeding, you can then send it directly to your customer’s email address.
The generated invoice will look like the one below and your customers will be able to directly via either scanning the Solana-pay supported QR code or by connecting any Solana wallet on their browser or mobile.
Your customers will also be able to generate a PDF invoice before they pay and a PDF receipt after they pay
Step 4: Monitor and Manage Your Invoices
On the main Invoices page, you can view the status of all your created invoices. Invoices are categorized as “Paid,” “Unpaid,” or “Overdue,” allowing you to track payments and follow up with customers as needed. You can also view the details of each invoice, edit or delete them, and even send reminders to customers with overdue payments.
By clicking on a specific invoice, you can access a detailed view that shows the invoice’s transaction history, payment status, and other relevant information. From this page, you can also download a PDF version of the invoice or send the invoice again to your customer.
The Invoices feature in BizFirst is a powerful tool that simplifies the process of creating, sending, and tracking USDC-based invoices for your online business or freelance work. By utilizing this feature, you can efficiently manage your billing and payments, ultimately saving time and effort. As a merchant or freelancer, incorporating BizFirst into your workflow allows you to harness the benefits of Web3 technology, providing a seamless experience for you and your customers. Stay tuned for the next article in our series, which will cover how to use NFT-based loyalty programs in your e-commerce store. Don’t miss out on the opportunity to be part of the future of e-commerce — sign up for BizFirst today.