By Sondra Martin - March 13 2018 06:32:17
You may be using online business accounting software, or maybe you are using a pre-printed invoice that you will complete. The process works the same way for both invoicing processes. You will prepare an invoice only after you have shipped or delivered the product or service to the customer.
I have heard from some clients that they do not necessarily need the long itemization that I have included in past invoices. At the same time, I have encountered clients who ask me to break down my invoice into very specific parts. When it comes to generating invoices, it is important to keep in mind that you are not making any money doing this. So, keep it simple and quick.
Accounting software designed for small businesses can not only be used as POS (Point of Sale) systems and print out invoices on the spot, but make it easier to calculate and keep track of taxes, such as the GST/HST. There are a number of inexpensive, easy to learn, cloud-based accounting packages available for small businesses.
An invoice, on the other hand, records the receipt of the product or service and, as noted above, the terms of payment. Purchase orders are used by many companies as part of an approval process. Some companies require purchase orders for products or services over a specific amount.
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