General information

An invoice is a document issued by a seller to a buyer, requesting payment for goods or services provided.

It includes details such as the invoice number, date, seller's information, buyer's information, item description, quantity, unit price, total amount, taxes, payment terms and is sent from the seller to the buyer.

Sales Invoice

Sales invoices are created and issued by the seller (provider of goods or services) and a request for payment sent to the buyer for goods or services provided.

Sales invoices will include details such as the invoice number, date, seller's information (name, address, and contact details), buyer's information, item description, quantity, unit price, total amount, taxes, and payment terms.

Sales invoices are sent from the seller to the buyer and help the seller keep track of sales, revenue, and accounts receivable.

Purchase Invoice

Purchase invoices are received by the buyer (purchaser of goods or services).

They are a record of the amount payable by the buyer to the seller for goods or services received.

These invoices include details such as the invoice number, date, seller's information, buyer's information, item description, quantity, unit price, total amount, taxes, and payment terms.

Purchase invoices are sent from the buyer to the seller and help the buyer keep track of purchases, expenses, and accounts payable.

I've received an invoice.  How do I know if I can use this to reclaim any VAT amount?

VAT Invoices must include

• A unique sequential number
• Time and date of supply
• The name and address of the supplier
• Name and delivery address of the customer
• The VAT number of the supplier
• A clear description of goods or services, including any quantities
• VAT rate
• Amount payable excluding VAT
• Gross total amount
• Currency used, including the applicable rate if different to the local currency of the supplier
  
  

Place of Supply & VAT Rates

Consideration should be given to ensuring any VAT has been charged or reported to the correct place of supply, with the correct VAT rate.  If you need assistance with this, please raise a support request and a member of the team will schedule a consultation call* 

Declaring the Invoice Correctly

Establishing whether the invoice is a purchase, sale, acquisition, dispatch or import is important to declare it in the correct place.

If the invoice relates to an intracommunity movement, ensuring the corresponding VAT number is identified and correctly declared is important for compliance.

If you need any assistance in determining where your invoice should be declared, please contact support.

*Please note consultation calls are chargeable.  Rates are available via Support.