What Is An Invoice?
Invoices are a way to demand a payment for goods or services. After a sale has been made, invoices will be made by the seller, then sent to the consumer. It will outline the payment amount, as well as how long they have to make the payment.
What Other Reasons Are Invoices Used For?
- Keeping track of sales made.
- Used to request payment from clients.
- Predict future sales by using previous sales data.
- Monitor inventory levels when selling products.
- Record revenue for tax reasons.
What Is Included In An Invoice?
- It will be clearly stated as an invoice, with the word clearly visible towards the top of the document.
- You will see the name of company and customer, along with their address and contact details.
- Labelled description of the goods or service provided.
- Dates of supply for the goods or service.
- There will be a unique reference number.
- Amount owed, including the VAT sum, along with any discounts and the overall total amount owed.
- Invoice issue date.
- Invoice due date.