What is invoice?
An unalienable commercial instrument released by a seller to a buyer. It identifies both the merchandizing parties and lists, describes, and quantifies the items sold; show the date of loading and manner of transport prices and deduction and delivery and payment terms.
In others words, invoice is a commercial written document issued by avender to a vendee, pointing the products, quantities, and agreed costs for products or services the seller has provided the buyer. An invoice indicates the sale transaction only.
Purpose of invoice
It is an infotainment evidence for the completion of a transaction against which the payment is made by thevendee and keeps that invoice for future mention and to present it to Tax Department. It is necessity that an invoice should be generated versus everydeal. It is required by the Tax imposing authorities.
Invoice include the important things that are as follows
For creating an invoice to follow the following steps…
- Go Invoices > Overview.
- Click on Create Invoice, and pick your client.
- A professional header
The firstly thing in invoice should be your full name or your business name, in professional (and easy to read) font. The font size should be a little larger than the balance of the text on the invoice, and possibly even bolded for accent.
- A client contact info
It includes the receivers name, address, and phone number and any other information below the invoice header. Your contact information should be on the opposite side of the receiver’s information. If your business name or your name is on the right side of the invoice at the top, the client’s name and information should be below on the left side.
- Invoice Details
It across from where you put the receivers name and contact information, include the information’s of your invoice. This arrangement makes it easy to keep path of critical information for both you and the recipient’s. It will include…
- Invoice Number
- Invoice Date Prepared
- Invoice Payment Due Date
- Invoice Add Subject and custom-make the orders of the rows on your invoice
- Click the Save Invoicefor sends your invoice rightoff, or save a draft and send it afterwards.
What is estimate?
An estimation prediction and projection of a quantity based on experience and data available at the time, with the acknowledgement that to the point information’s are unclear or unknown. An estimate is used to find an approximation of the cost of a product, project, or services. Learn how to create an estimate for your clients.
How to create Estimate
- Go Estimates > Overview and click Create Estimate.
- Firstly, pick your client.
- Select a Customer and you can also click Add new customer.
- Choose a Currency from the drop-down menu.
- Select a Date, an expiry date, and a P.O.
- To fill the following fields for the product: Quantity, Description, Price, and Tax.
- Click Save. Your estimate is saved in the estimate invoice.
Purpose of Estimate
Estimate is the calculation of amounts of a single and multiple item of work. Analyses of cost is done by client declarer based on various element which affect the project, alongside primary cost of work and the other costs are overhead cost, insurance cost.
These facilities are provided in SCOPIDEA. In Scopidea you can create invoices, estimates, send invoices, save in draft and many of them. It can also include Reporting Invoice facility and many of others.