ctivnan
11/24/07, 08:22 AM
Comments on Invoices :okay:
Amounts: Be careful where you put the commas and decimal points.
The date and number: Companies must include the date of issue of an invoice and a sequential number that identifies the invoice.
Names and addresses: You must write the full name, address and registration number of your company as well as the full name and address of the customer or client. Add your customer's original order or references to help them process your invoices.
Itemized list: Give details of the quantity and type of goods and services the invoice is for. Next to each item, list the unit price without tax. Also you may have to specify what the unit is (per hour, per item), as well as the currency and delivery dates. In the case of services, a unit price and a delivery date may not be possible. Instead, a longer description and period of time is often used. Give details of any discounts, and if appropriate, the rate of tax charged.
Taxes: It is advisable to check with a tax accountant before sending an invoice abroad. If, for example, an invoice is sent to a company in another EU member state and that company is liable for VAT, the VAT on the goods or services may have to be paid by the customer. The invoice must then show the customer's VAT number and indicate that the goods or services fall under the reverse-charge system.
Payment terms: Set clear terms, both for early and late payment.
Bank details: Don't forget to add your bank details. For cross-border payments, include the IBAN (International Bank Account Number) along with the BIC/SWIFT code.
by Ken Taylor
Business Spotlight, September - October, 2006
Amounts: Be careful where you put the commas and decimal points.
The date and number: Companies must include the date of issue of an invoice and a sequential number that identifies the invoice.
Names and addresses: You must write the full name, address and registration number of your company as well as the full name and address of the customer or client. Add your customer's original order or references to help them process your invoices.
Itemized list: Give details of the quantity and type of goods and services the invoice is for. Next to each item, list the unit price without tax. Also you may have to specify what the unit is (per hour, per item), as well as the currency and delivery dates. In the case of services, a unit price and a delivery date may not be possible. Instead, a longer description and period of time is often used. Give details of any discounts, and if appropriate, the rate of tax charged.
Taxes: It is advisable to check with a tax accountant before sending an invoice abroad. If, for example, an invoice is sent to a company in another EU member state and that company is liable for VAT, the VAT on the goods or services may have to be paid by the customer. The invoice must then show the customer's VAT number and indicate that the goods or services fall under the reverse-charge system.
Payment terms: Set clear terms, both for early and late payment.
Bank details: Don't forget to add your bank details. For cross-border payments, include the IBAN (International Bank Account Number) along with the BIC/SWIFT code.
by Ken Taylor
Business Spotlight, September - October, 2006