Quotation, sales order, sales invoice, receipt—there are a lot of documents related to a single transaction in a business entity. Sometimes, we unknowingly interchange the terms for they are really a bit confusing. Well, here’s a tip: each of the stated documents form part of the process and they are already presented in sequence. You may also see purchase invoice examples & samples.
However, in this article, we will focus on one of the important document in a sales transaction, the sales invoice. Other documents are briefly discussed in one of the sections below. These documents are equally important in a sales transaction. You may also like payment invoice examples & samples.
To give you examples of sales invoice, the next section provides a lot of elegant, formal, and uncomplicated sales invoice examples. You might also want to see related invoices as well in these links:
A sales invoice, also known as purchase invoice or commercial invoice, is a request of payment by the customer for the goods sold or services provided by the seller. In general, it lists the description, the quantity of the item sold or service provided, the date it was dispatched, as well as the amount of money owed by the buyer. It can also serve as a document evidencing the sale of goods or services to a customer. You may also see service invoice examples & samples.
As been previously said, in a single transaction, certain documents are needed such as quotation, sales orders, sales invoice, and receipt. These documents are beneficial since they keep proper documentation as well as accountability or safety of the items being sold. Each of them has their own characteristics and roles to play in a sales transaction process. You may also like travel invoice examples & samples.
For quotation, this refers to the document that will be handed to the customer allowing him to see the costs that would be involved for the work they would like to have done. Commonly, the cost differs in the materials that would be used as well as the labor of the said project. You may also check out simple invoice examples.
On the other hand, a sales order is a document given to the seller from the buyer requesting a certain product or service usually based in the quotation that has been previously endorsed to the buyer.
Then, the seller will request payment from the buyer through a document called invoice, which is the focus in this article’s discussion.
Lastly, a receipt will be released and given to the buyer as a proof of payment by the buyer and to complete the transaction.
Below is the usual format of a sales invoice. There might be other variations for other business entities due to their nature of business or own preferences, but this is the common arrangement of the elements in an invoice.
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Although a lot of transactions today are still paper-based, due to the increasing use of technology, invoicing can also be done and transmitted electronically over the Internet. Some companies would still print paper invoice even if they are transacting invoices online for record-keeping and auditing purposes. Sales invoice window allows the user, typically the seller, to browse information about all sales invoices registered in the system. You may also check out proforma invoice examples & samples.
Furthermore, it also allows to issue and manage customer’s invoices. The elements of a sales invoice might be overwhelming at first, but once you get used to the process, everything will run smoothly and you can appreciate the system for its efficiency and speed in dealing every transaction. You might be interested in blank invoice examples & samples.
Here is a quick overview of the elements of a sales invoice window.
In the header section of the sales invoice window, the invoice can be registered and managed. Basically, the items to be filled in in the header section is as follows:
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After filling in and saving the sales invoice header, each sales invoice line can be registered in this tab one by one.
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This pertains to any applicable discounts and promotions that can be availed by the buyer.
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The line tax information is automatically filled in for each sales invoice line upon the completion of the invoice. This includes the following:
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This refers to the accounting dimension, which usually pertains to the cost process as well as the cost center for the item being produced or processed. Moreover, it also includes the following:
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In this tab, the summary of the sales invoice tax and other related information is shown. Other information are as follows:
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In this tab, information about the discounts automatically applied based on the customer configuration is listed. This may also be manually entered by the selling party. The items in this tab are as follows:
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This tab lists the scheduled payments expected against the invoice. This contains the following information:
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The payments made against the invoice as well as the details are listed in this tab. They are as follows:
This contains the list of the scheduled payments expected against the invoice.
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This contains the details of the payments received against the invoice.
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In this tab, an obligation for accounting to expect to receive all or part of the invoice amount in advance is created. Other information consist of the following items:
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In this tab, the user is allowed to select the invoices being reversed by the invoice being created.
This tab allows to enter an exchange rate between the organization’s general ledger currency and customer’s invoice currency.
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This pertains to the accounting information related to the transaction.
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In general invoice, just like other documents needed in a transaction, is important for the completion in closing the deal. One must design an invoice that is not only comprehensive and with complete details but also easy for record-keeping and to account for by the selling party. The above examples show perfect examples of comprehensive and easy-to-record sales invoice. Don’t forget to check them out!