How to Get Started:
To get started just download the template below and fill in the highlighted sections. Our templates are fully customizable, allowing you to tailor them to your specific workplace needs.
Whether you're a small business owner or a safety professional, our templates can help you streamline the paperwork
In this Article:
Why We Offer Free CDM Documents
At Ward, we think paperwork shouldn't cost and arm and a leg. That's why we're committed to providing free resources, to help you keep your staff safe whilst saving precious time and money.
Ever expanding health & safety requirements can put a strain on small and medium size business. That's why we created our Company Documents section, to keep your costs down and ensure you're able to compete in todays market.
We don't do subscription models or charge for downloads, just keep us in mind next time you're looking for some top notch training. - Ward Education and Training Limited
What can You Use an Invoice Template for?
Business and commerce rely on an invoice. It’s a bit like the till receipt in a shop that brings things to a close. For a company, it’s the official record of what has been bought or sold, at what price and when the money should be paid. It’s what brings buyer and seller together in a paper transaction. You need those invoices kept in good order for your financial records and for making sure you’ve covered all the legal obligations.
So now you know – keeping your invoices in order is good business as well as good law.
Download Your Template Below
How to Write an Invoice
Writing an invoice is a fundamental aspect of conducting business transactions. It serves as a formal document outlining the details of a sale or service provided.
To write an invoice, start by including your business name, contact information, and logo at the top.
Next, add the recipient's details, including their:
Name
Address
Contact information.
Then, specify the invoice number, date and payment due date for clarity. Itemize the products or services provided, including descriptions, quantities, and prices. Calculate the total amount due, including any taxes or discounts if applicable. Finally, include payment terms and instructions for remittance.
Using our free invoice template can streamline this process, allowing you to fill in the highlighted sections with your specific information effortlessly. Keeping your invoices organized is not only good business practice but also essential for legal compliance and financial transparency.
What Does an Invoice Need to Include?
When it comes to formalizing business transactions, an invoice plays a pivotal role. It serves as a comprehensive record of a sale or service provided, detailing crucial information for both the seller and the buyer.
To ensure clarity and transparency, the following key elements must be included in every invoice:
Business name and contact information (sender)
Business name and contact information (recipient)
Invoice number
Date of issuance
Payment due date
Description of products or services provided
Quantity and unit price of items/services
Total amount due
Any applicable taxes or discounts
Payment terms and instructions
Any additional terms or notes
What is an Invoice Number?
An invoice number is a unique identifier assigned to each invoice issued by a business. It helps both the seller and the buyer to track and reference specific transactions. Typically, invoice numbers are sequential and can include a combination of letters, numbers or symbols.
Invoice numbers are crucial for organizing financial records, facilitating communication between parties and resolving any discrepancies or disputes that may arise.
What is a PO Number on an Invoice?
A PO number, or Purchase Order number on an invoice is a reference code that links the invoice to a specific purchase order issued by the buyer. It helps streamline the reconciliation process by ensuring that the invoice corresponds to an authorized purchase.
The PO number serves as a unique identifier, facilitating efficient tracking, record-keeping and communication between the buyer and the seller.
What Software we Recommend for Creating and Managing Invoices?
When it comes to creating and managing invoices, businesses have a plethora of software options at their disposal. From industry giants like QuickBooks to simpler solutions like Excel spreadsheets, each offers unique features and benefits suited to different needs. Storing invoices on company servers or in the cloud ensures accessibility and security.
Here are some recommended software options:
QuickBooks Known for its comprehensive features, user-friendly interface, and compatibility with various accounting systems.
Excel Spreadsheets Offers flexibility and familiarity for invoice management, ideal for businesses with simpler needs.
Company Server/Cloud Storage Securely stores invoices for easy access and backup, ensuring data integrity and compliance.
FreshBooks Provides intuitive invoicing features and time-tracking capabilities, suitable for freelancers and small businesses.
Xero Offers robust accounting tools, seamless integration with third-party apps, and multi-currency support, catering to growing businesses.
Sage Accounting Free accounting software with invoicing, expense tracking, and online payments, perfect for start-ups and small businesses.
How to Send an Invoice
Sending an invoice can be done through various means, each with its own advantages and considerations.
Email is a popular choice for its speed, convenience, and cost-effectiveness. Simply attach the invoice as a PDF or send it directly in the body of the email.
Invoices can also be sent via traditional mail as a printed letter, although this method may take longer and incur postage costs.
Hand-delivered invoices can be a personal touch, especially for local clients, but it may not be feasible for distant or international recipients.
Fax was traditionally was a common method for sending invoices, but with the advent of modern technology and digital communication tools, fax usage has become rare.
Today, businesses primarily rely on email or postal services for sending invoices, leveraging the efficiency and accessibility of digital platforms.