A billing invoice template is a professional document that calculates quantities and unit prices to give instant total. It makes the billing process easy and fun. This document allows you to add your own logo. Moreover, you can capture key payment transaction details required for receipt and tax purposes.
Uses of billing invoice:
A billing invoice is used to request payment from the buyers. This document develops a written agreement between the seller and the buyer. It makes the seller able to give certain products or services to a buyer and for the buyer to pay seller in return. Anyone who is selling a product or service to a buyer can use this document. Small businesses use it to record sales transactions. Furthermore, recording sales transactions is important in order to maintain accurate accounting and bookkeeping system.
How to create a billing invoice?
For creating a billing invoice, follow the below steps;
- At first, download a billing invoice template. Enter your company’s information such as the official company name, contact name and address, and company logo.
- Then, add your client’s name and the email address. Also, enter an invoice number, invoice date and payment due date.
- If applicable, add shipping terms such as whether you or the buyer will pay for shipping.
- After that, include the services or products provided and add prices and quantities of each. Add sales tax and any other factors like discounts, shipping and handling or credit. Then, calculate the total amount.
Different types of invoices for small businesses:
Let us discuss the most common types of invoices;
It is a simple invoice that includes just basic information and the format remains the same. But the details of transactions can be changed.
This type of invoice contains the importation of foreign goods. It is used to present the following;
- Product details
- Country of origin
- Declaration of authenticity
- The signature of the importer and other important details.
It is the best option if you invoice your customers consistently every billing cycle for a subscription.
It is like an appraisal not the bill. For a project, it gives an approximate cost.
For long projects, it is used to bill in stages.
Other types are;
- Credit invoice
- Debit invoice
- Mixed invoice
- Prepaying invoice
In conclusion, a billing invoice template is used by the businesses to establish a written agreement between the seller and the buyer. It is used to calculate quantities and unit prices ti give instant total. Additionally, these templates are general so you can customize them for your specific industry.A billing invoice template is a