Dating of invoices

The tax point (or ‘time of supply’) for a transaction is the date the transaction takes place for VAT purposes.

Invoicing customers promptly and making payment easy is a good way for your business to maintain cash flow.

Regardless, all invoices should have the same basic elements which are included here.

Mouse over the parts of the invoice to learn what they mean, or click the tabs to learn how to find the cash discount and discount date.

You should also contact the customer for all information required to set up their account, including business (and accounts department) contact details. This is especially important if your invoice has payment terms such as '30 days from invoice date'.

This is useful for your bookkeeping records, as a reference if talking to your customer or when following up unpaid invoices.

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