Whether you're a seller or a buyer, you need a receipt in the form of an Invoice. If you want to get paid for goods or services provided, a formal request for payment is a must. If you receive goods or services, an invoice is important for your tax records, and managing and tracking your cash flow. When using an Invoice, you help ensure that there's always a paper trail.
Use the Invoice document if:
- You need to pay for goods or services.
- You have to request payment for an itemized list of goods or services.
- Your HR department needs to update documents.
An Invoice acts as a receipt and might be the only proof of a transaction. This document details the price, products or services, and quantity involved. By regularly using invoices you can help avoid losing track of money coming in and going out, especially with a new business. If you're a sole operator, you may be acting as your own bookkeeper, so with an Invoice you can help you more easily monitor your accounts. An Invoice is a key document in any business -- make sure you're covered.
Other names for this document: Commercial Invoice, Bill
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