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In and of itself, an invoice is not a legally binding agreement. The tenuous legal standing of an invoice is the very reason why vendors require signatures from the client, or some other binding form of acceptance, before sending out a product. The accountability works both ways for an invoice.
There is some information that you must legally include on your invoices. The business name and address of the customer you're invoicing. A clear description of what you're charging for. The date you provided the goods or services (which is also known as the supply date)
Your invoice must include: a unique identification number. Your company name, address and contact information. The company name and address of the customer you're invoicing.
A. As you are not VAT registered there is no legal requirement to issue invoices for every sale, but it is good business practice. However, if the Taxman suspects that you have been under-recording your sales, because you receive many payments in cash which are not immediately banked, you may have a problem.
Each invoice issued should be assigned a unique invoice number. The invoice number should always be clearly stated on the invoice without an invoice number, an invoice is not considered a legal document.
An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.
Invoices are documents sent by a seller to the buyer after the goods or services have been delivered. It identifies the seller, buyer, and the products or services sold, including their quantities and prices. It is legally-binding after both sides have agreed to the conditions and is also non-negotiable.
In and of itself, an invoice is not a legally binding agreement. The tenuous legal standing of an invoice is the very reason why vendors require signatures from the client, or some other binding form of acceptance, before sending out a product. The accountability works both ways for an invoice.
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