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Statistics shows that an American consumer pays on average seven days late. This is not a surprising numbers as businesses tend to overlook invoices, which would lead to delayed payments. So, if you wanted your clients to pay the taxable goods or services that your business offers on time, you need to issue a tax invoice immediately. Make one now by having this comprehensive, high-quality, and professionally written Tax Invoice. This template is proven to be industry compliant as it has original suggestive heading and content. Besides, this file is downloadable, editable, and printable in Apple Pages format. Download now!
If you are running a business with taxable goods or services, such as a restaurant, hotel, or rental business, you need to issue a company tax invoice to make sure that your clients are aware about a particular payment that they must settle. In other words, as your clients might overlook or forget about an unsettled payment, an invoice would help them in remembering. So, to make sure that your clients pay and your business record is in tacked, you need to follow these simple tips in making a tax invoice.
The first step that you need to focus is the heading of your invoice. It must include your business name, logo, address, contact number, email address, and more. This is an important part of your invoice as it would show who you are and what brand you wanted to establish. Apart from that, it can also be a sample of your marketing strategy for referrals and such.
If you are a small business, you can throw away as much as $12,000 just because of a duplicated simple invoice. With that, you need to label it through indicating the contact information of your client. Include their name or business’ name, location, contact number, email address, and more.
As stated in the latter tip, you can waste a ton of money in duplicated invoices. So, to ensure that it would not occur to your business, you need to put an indicator, such as an invoice number. You can provide a unique and sequential series of numbers and characters as your invoice number. Apart from these advantages, it would also be easy for your clients to settle their payments as they can track it through the invoice number.
Usually, a tax invoice has a list of the products or services availed with corresponding descriptions, quantities, rates, amounts, and subtotal. Remember that the more details that you would include into your tax invoice, the better as it would inform your client as to what they are paying for.
There are a variety of payment terms that you can indicate into your tax invoice. Depending as to what type of goods or services that they availed, the convenient way of your clients to pay, or the estimate amount, you need to complement your payment terms. You can discuss it with your clients as to what payment terms would you agreed upon.
Aside from tax invoices, you can issue the following for your business:
1. Standard invoice
2. Commercial invoice
3. Progress invoice
5. Utility invoice
6. Recurring invoice
7. Pro-Forma invoice
8. Debit memo
9. Pending invoice
10. Value-Based billing
11. Fixed-bid billing
12. Time-based billing
1. Terms of Sales
2. Payment in Advance
3. Immediate Payment
4. Net 30, 60, 90
5. 2/10 Net 30
6. Line of Credit Pay
7. Quotes and Estimates
There is a big difference between an invoice and a receipt. An invoice is a document released by a seller containing the list of goods and services that a consumer must pay. A receipt is a document released after the payment has been settled.
An unpaid invoice can be valid up to 6 years from the time released.