A basic invoice is a document that is usually issued to a buyer from a seller for commercial purposes. It contains the sales transaction for specific products and services provided to the seller. A business invoice has different payment terms, sometimes discounts are made to those buyers who pay ahead of time.
A commercial export invoice, on the other hand, is another type of invoice that concerns the sales transactions that goods have been exported. In the event that any payment that is not given on time, results to late invoice payments.
Free Basic Invoice Template
Medical Billing Invoice
How to Create a Basic Invoice
Most business establishments—big or small, retailer or wholesaler—feel the burden of having to manage and juggle so many tasks. Refer to our Excel invoice templates if you want an easier time of coming up with one. We also have different types, such as the retail invoice template and repair invoice template.
The basic invoice contains the following:
- a header that states the title “invoice” at the topmost part of the document, stating what it is;
- a unique reference number as a means to organize documentation and prepare for any disputes that may arise;
- the date of the invoice to trace the sales transactions;
- the delivery dates, when the requested goods were sent to the buyer or when services were rendered
- terms and conditions of payment, which sets the date/s when the payment is due and and the form of payment that would be accepted;
- method of payment, whether check, money order, or bank account transfer;
- the seller’s information: name, address, and contact information;
- the buyer’s name information: address, and contact information;
- company tax registration;
- prices per unit, the tax that comes with it, and other fees that may apply (e.g. delivery and/or shipping fees)
The Good Things about Basic Invoices
There have been various types of invoice issued commercially (commercial invoice templates) for the purpose of tracking business transactions, that is why it is very important to take consideration to knowing what good it would how would be very significant in business.
Below are the things one might know why basic invoices are significant.
- Invoices mean there is professionalism in the business activity. Establishing legal rights is one way of telling how a business adheres to a court of law with regard to the sales transactions.
- Getting paid through invoices is easy and can be done on time because if invoices do not exist in a sales transaction, there is a lesser chance of getting paid right. Also, e-invoices are already available, so payments can be done online too.
- Invoices are great for record keeping because, in times of disputes, and other obscure information, it would already be easier to track the business earnings and spending.
- There is also proper documentation of business transactions so it won’t be very hard to find out what happened to your money.
- Invoices also provide clarity to the buyers. It is a brief and concise description of the things they are paying for.
There are a lot of things invoices can do for your business, thus reducing too much stress on your side.