Know The 9 Types Of Business Invoices

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Know The 9 Types Of Business Invoices
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Contents

1. Introduction
2. Commercial Invoices
3. Utility Invoice
4. Value/Milestone Based Invoice
5. Normal Invoice
6. Time Billing Invoice
7. Pending Invoice
8. Recurring Billing Invoice
9. Credit Invoice
10. Debit Invoice

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Introduction

• There is no dearth of industry verticals in
  todays time. All kinds of businesses carry on
  business transactions on a daily basis.
• These transactions are carried out using business
  invoices. Invoicing varies from industry to
  industry for sending out precise invoices for the
  goods and services sold.

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Commercial Invoices

• These are different from normal invoices used by
  businesses for regular transactions. This type of
  an invoice is specific to foreign trade. The
  invoice is raised when goods are being shipped
  from one country to the other.
• This invoice acts as a proof of the transaction
  for custom authorities. This kind of invoice also
  carries invoice details like the contact
  addresses of the buyer and the seller. One has to
  also add the complete description and pricing of
  the goods being sold.

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Utility Invoice

• Invoices Meant for utilities are called utility
  invoices. We all use utility services like water,
  electricity and mobile phone etc. This invoice
  shows the due amount for the services rendered
  for the particular period. This is the amount
  that is payable to the service provider of the
  utility.
• It also mentions the date on which the invoice
  becomes due. It clearly mentions the late fee
  that is chargeable in case the invoice is not
  cleared on or before the due date. The pricing of
  services is usually fixed or varies according to
  the slabs provided by the service provider. It
  also includes the details of the payments made
  for the previous invoice.

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Value/Milestone Based Invoice

• This is an invoice that is based on the project
  work done/milestone achieved. This kind on
  invoice is devoid of the time taken or the hours
  worked. If a certain part of the project is
  completed or a certain target is achieved, then
  this is the kind of invoice that is raised.
• This kind of invoice is largely dependent on the
  type of expectations the client has from the
  project. The billing is done according to the
  terms and conditions mentioned in the project.

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Normal Invoice

• This is a basic invoice, this used for different
  kinds of business transactions. While creating an
  invoice all the details of the products/services
  being sold, are clearly mentioned.
• One must also mention the terms and conditions of
  the invoice along with the reference of the
  purchase order number. Adding the invoice number
  and due date are also essential. The basic
  invoice is the most commonly used invoice for all
  kinds of business verticals.

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Time Billing Invoice

• This kind of an invoice is most commonly used by
  freelancers and other service providers like
  lawyers, photographers, consultants and digital
  agencies.
• Detailed reports of the hours worked are attached
  with the invoice. These invoices carry the hourly
  rate along with the nature of the service
  provided.

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Pending Invoice

• Invoices for which a part of the payment has been
  made and part of it is yet to be made are called
  pending invoices.
• A pending invoice shows that amount which is yet
  to be paid by the client.

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Recurring Billing Invoice

• There some goods and services which are sold in
  fixed quantity on a periodic basis.
• These include services of digital agencies or
  publications who charge for monthly retainers and
  subscriptions.
• Services like house rentals are also included in
  these kind of services.

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Credit Invoice

• This is an invoice issued by the vendor for
  adjustment of pricing in case of a last minute
  discount.
• A credit invoice is issued for the difference in
  the pricing of the goods added to the invoice and
  the price actually charged during settlement.
• This kind of an invoice can also be issued when
  some goods are returned by the client.

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Debit Invoice

• A debit invoice is the reverse of a credit
  invoice and is issued by the client while
  returning any goods to the supplier.

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Choose The Right Tool

• Using an online invoicing solution like Invoicera
  is useful for sending out all kinds of business
  invoices online, with ease. Know more about
  invoicing workflow management for small
  businesses from this post.

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Get In Touch

• Web www.invoicera.com
• Social
• www.facebook.com/Invoicera
• www.twitter.com/invoicera
• https//www.linkedin.com/company/invoicera-invoici
  ng-simplified
• Ph (IN) 91-9350204838 (600 am - 1200 midnight
  IST)
• E-Mail marketing_at_invoicera.com

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