What Is an Invoice?

What Is an Invoice?

A Business invoice is a time-stamped commercial document that contains a record of a transaction between a buyer and seller; it usually provides information on the available methods of payment.

This document lists the products and services a business renders to a client and establishes an obligation on the client to pay the business for those products and services or can serve as proof of payment for a client.

For any small business, Invoicing software is a top priority because creating an Invoice is the proof of products sold and services rendered since they enable them to receive payments.

Types of invoices?

Types of invoices may include a paper receipt, a bill of sale, debit note, sales invoice, or online electronic record.

As previously stated, the term new invoice is a time-stamped document, a day and time/ date on which the goods have been billed and the transaction officially recorded. Therefore, the invoice date on an invoice is very important with regards to its authenticity; as it dictates essential information regarding the means of payment, the credit duration (If you sell on credit), and the due date of the bill.

the invoicing process serves an important purpose for both the business sending the invoice number and the client receiving it. For small businesses, invoice software helps speed up the payment process by giving clients a notification of the payment that’s due. For customers, invoices online provide an organized record of an expense with itemized details and can help with record keeping.

What Is an Invoice Used For?

Invoices are needed for documentation purposes in business management, get paid, you get a copy, a client gets a copy everybody is happy. Invoices are important for the following aspects in managing any small business. some of the invoicing Elemnets are company-name,header, footer, time-tracking, payable,line-item, subtotal, receivable, purchaser ,payer & Others.

  • Invoices help record all the sales transactions your business makes.
  • To request timely payment from clients, this applies to clients that pay on credit or in half.
  • To keep track of sales
  • To track inventory, for businesses selling products
  • To forecast future sales using previous information
  • To record business income and profits to tax payments

What is E-Invoicing?

We are in the era of technology, Small Business owner and businesses are constantly utilizing technology because it makes working easier. As you know, here at Kippa we preach business with ease, manage your accounts without needing to lift a pen. This also applies to the documents you need in business, you guessed it right, I am referring to Online invoices!

With electronic invoicing as an alternative to paper documents; Electronic invoicing, or e-invoicing, is a form of electronic billing to generate, store and monitor transaction-related documents between parties and ensure the terms of their agreements are fulfilled.

These e-documents may include invoices and receipts, purchase orders, Total amount,Unpaid bills, debit , credit note, payment terms and instructions, and remittance slips. Digital invoices generated in your Kippa app can be shared via Text Message, Whatsapp, and various social media platforms such as Instagram, Twitter, and Facebook.

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Why are E-Invoices better?

  • It is saved and backed up on the web, it is permanent and not prone to physical damage such as the paper tearing or getting wet.
  • It is easy to find and store; with just specific names or dates you can find the information you need on your simple e-invoicing app.
  • Increased auditability; makes your calculation quicker, more accurate, and efficient
  • we can create an Invoice in just simple steps
  • Track Purchase order details
  • Recurring invoices are very simple
  • It allows you to print and reproduce on demand
  • Simple invoice can be made easily
  • Creating invoices become so simple
  • And lastly, it helps the environment as paper waste is reduced

Tips for invoicing

Having to deal with invoices might be one of the most tiring tasks to do as a small business, but it is something that should be prioritized. One of the best ways to manage your invoicing would be to use Kippa’s online invoicing feature. It allows you to create multiple invoices at a go, allows you to share these documents via the internet with your clients. It helps you create a strategy for generating, sending, and keeping track of them.

  • The first note-worthy tip for you is that good automate invoice management encourages regular cash flow, eases accounting woes, and saves you time.
  • Choose the best kind of Customize invoicing style that works for your business; how to do this is based on how you charge customers. Do you take full payments or half payments or are you paid on credit? This should help you with how you would go about issuing payments.
  • The last tip is to move your business’s Free Invoice generator system online; how can you do that? To Invoice try Kippa!  

How does Kippa help in invoicing?

A good way to start is to figure out what free online invoice template you prefer for your business. Create an automate Free Invoice template to save you time so that you don’t have to re-do the same information each time you need to make an invoice. If you want to hop on the business with ease train, Kippa has a sweet remainders invoicing feature that makes E-Invoicing perfect and easy to use.

Send invoice and receipts to your customers
Hafeedoh Balogun

Hafeedoh Balogun