Invoice is that accounting source document which is sent by vendor of goods to buyer after selling the goods. In this note, vendor writes the descriptions of selling goods quantity, rate, value of sold goods and other terms of payment. This invoice is useful for both seller and buyer. followings are main content of Invoice :
- Name and address of Vendor
- Name and address of buyer
- Date of Invoice and S.No.
- Date and number of purchase order by buyer.
- Quantity of sending goods.
- Per Unit price of goods sold.
- Total Price of Products.
- Tax Payments like GST and VAT
- Discount and allowance.
- Expenses on delivered Products.
- Total payable amount by buyer of goods.
- Terms of sales.
- Signature of vendor or its agent.
- E. & O. E. ( Errors and omissions excepted )
Invoice is commercial document which indicate the goods which has been sold on credit but invoicing is reference for delivering baggage to a flight company in an airport before taking a flight.
After Internet revolution, there is no need of printed invoice. Some of accounting software make automatically the invoices and it can be easily delivered to buyer's email address. Microsoft's ms word 10 provides the facility of invoice. You can choose some of latest design by just click new in ms word and then click invoice and then download.
Invoice Vs Receipt
Invoice is that note which is used for informing customer about his purchased goods and payable amount. But receipt is that note which is proof of payment by customer to seller of goods.