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It's a Rails SaaS and SSO app.
It's written by the guy's who run Shopify, so it's been thoroughly tested in production.
but this is right. I envision a startup providing this kind of service, acting as a middle-man who'd ease the setup and make it transparent
At the moment, for an existing project, you'd pull the various models, controllers, and views over into your app. I hear it takes about a day or two for people who have done that.
The important thing is though that with the invoicing gem, you end up representing the data in an accountant-friendly structure, without having to think like an accountant. And that makes things a hell of a lot easier when you start scaling the business and need to know what's going on in your accounts for tax, legal and management reasons.
Would love to hear your opinions on the Invoicing Gem; I agree that a standard framework is needed, and this is my attempt to contribute one to the community.