What is an Invoice?
An invoice is a document given to the buyer by the seller, it includes all details of the products or services provided, their quantities, prices, and the total amount due. It also specifies payment terms, including due dates and accepted payment methods.
Why is it Important?
1.To ensure businesses receive payment time.
2.To maintain clear transaction records.
3.To serves as proof of the transaction for legal protection
4.Assist in tax reporting and compliance.
How It Works
The seller generates an invoice listing items or services, pricing, and terms.
The invoice is sent to the buyer via email, mail, or invoicing software.
The buyer pays the specified amount within the agreed time frame.
The seller then tracks outstanding invoices to ensure timely payments.
