Hi I'm Zoe from But the Books and today I'm going to talk to you about what you
need to be including on your invoices somebody asked me the other day
what they need to be including on an invoice or whether I've got an invoice
template and I don't generally provide templates or things like this because I
prefer businesses to use accounting software and if you're using any of the
accounting tools out there they will have a template to raise an invoice and
now there are free accounting software providers out there and I would
definitely say that that is the best route to go down but if you are raising
your invoices using a word document or a PDF or something like that these are the
key bits of information that you need to make sure that you're getting in there
so the first thing every invoice should have a unique reference so
they should be sequentially numbered so starting from one and working your way
up and the reason is that means you can make sure you haven't lost track of any
invoices as you pull them through the year well you know through your sort
of business life it's like an ID for that invoice it also means that when
your customers pay you they can use that reference number and you know you know
which invoices that they're paying and the next thing is your company details
so you need to include your business name your address and your contact
details if you are sole trader and you're using a difference or trading name you
still need to give your own name and say that you're trading for somebody else so
Joe Blogs trading as Joe's Bakehouse or something like that you need to
make sure that you're including an address where official documents can be
delivered to your business the next thing is your customer details you need
to be clear the name and the address of the customer that you're invoicing and
you should give a detail like a detailed description of the goods and services
that you're supplying so if you're selling different products or services
you might want to show each different item on a different line and
so Joe is Bakehouse might be selling ten pastries at two pounds each or something
like that and then five croissants at three pounds or something like that and
you list them out on different rows and you need to include the supply date this
is the day that you supplied the goods and services and an invoice date the
date that the invoice was actually raised on your system which might be
different than the supply date and that depends on how hot you are
on your invoicing but when it comes to terms of payment that's going
to be the date that's used for working out how long the customer has to
actually pay your invoice and so each separate item on the list needs to have
its own amount and then you should have a total line which total includes the
total amount for all of their services or products that you're supplying and if
you are VAT registered HMRC you've got very clear rules about the additional
information that you need to be including on VAT invoices now if you
were not using an accounting system and your VAT registered I'd really recommend
that you have a chat with your bookkeeper or accountant about that to make
sure that you're keeping the right records especially with making tax
digital coming in and but you know please ask you if you've got any
questions about that there's actually a blog post that accompanies this video
and there's a link on that blog post back to HMRC site which gives details of
the additional information you need to include if your VAT registered but
if you are VAT registered you'll need to include things like VAT rate
and the amount of VAT for every supply on that invoice and
also the business's VAT registration number. You'll need to show the
grand total of everything that's due just avoid confusion so just one
total of the amount that the customer needs to pay and then terms now this isn't a
legal requirement and the sort of standard of recognised terms for invoices
is thirty days that you might choose to have different payment terms and you
might even have different payment terms for different customers depending on how
good they are at paying you or your view of how good they've been in
the past at paying you and so I would suggest making it very clear what your
payment terms are on the bottom of your invoice and if you've got any questions
about any of that please ask I'm always happy to help
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