Francene Besson Invoice Design October 18, 2018 06:49:01
Youll also need your company name your name address telephone number and email address. If they have any questions about the charges contacting you should be as easy as possible.
Invoices can sometimes be an Accounts Payable (AP) clerks worst nightmare especially if it takes hours and hours to manually process a single paper based invoice. Numerous things could go wrong with processing invoices manually; which can become very costly for business. Below we have listed five of the top invoice problems.
Dealing with this volume in a manual operation was causing several problems. Invoice processing was extremely paper intensive; a considerable amount of time and effort was spent data inputting chasing paper invoices and filing. It was often difficult to locate invoices and the AP team would waste time contacting the business users to trace invoices. This resulted in a lack of efficiency and a lack of control over the process. There had also been an issue of making a number of duplicate payments.
A Proforma invoice is an invoice provided by a supplier in advance of providing the goods or service. A quotation in the form of an invoice prepared by the seller that details items which would appear on a commercial invoice if an order results. It is more of a customs declaration form used in international trade that describes the parties involved in the shipping transaction the goods being transported and the value of the goods. It is the primary document to declare value for customs. It is not a true invoice because the seller does not record a pro forma invoice as an accounts receivable and the buyer does not record a pro forma invoice as an accounts payable.
an indication of items subject to GST at 5% or HST at the appropriate provincial rate or that the items are exempt and either the total amount of GST/HST charged or a statement that the GST/HST is included and the total rate of tax if applicable an indication of items subject to PST (also known as RST) at the provincial rate or that the items are exempt and either the total amount of PST charged or a statement that the PST is included and the total rate of tax.
Their Details and Yours - must be complete This is basic stuff but you cant afford to forget it. In addition to the clients address make sure to include the name of the clients contact person who handles your account! A company with three employees can figure out what youre doing; but in big companies invoices get misplaced especially if theres confusion over who belongs to which project.