What is an Invoice?
An invoice is a document that businesses use to list and record transactions or items bought between the seller (the business) and the buyer (the customer). Sometimes the invoice will also contain the delivery or shipping information. Some items contained in a typical invoice are as follows:
- Invoice number
- Customer details
- Description of goods and/or services
- Amount of items purchased
- Others include – taxes, delivery or shipping information etc.
What invoices are not:
- An invoice is not a receipt
- Issuing an invoice does not mean payment
Why are invoices important to your business?
- Payment Tracking
- As our business grows and your sales also grow, the number of transactions can become enormous. Tracking payments from customers become very important. With invoices, you can track all your business sales and payments to identify any delayed payments.
- Get Paid Faster and On Time
- This is one of the most important reasons to complete and send invoices to customers. If you have a lot of customers, you will also have a lot of sales and invoices that go out. If you do not send invoices to customers, payments will delay as customers may forget or not pay for services and goods. This will cause slower or missing payments from customers.
- Eliminate Confusion or Disagreements
- With invoices, you can capture the agreed sales items with other information such as taxes, delivery, and other costs. This eliminates any wrong items, amounts, and delivery errors among others. With invoices, you will have a form of agreement with the customer as to what the purchases were and any other items that may be important.
- Maintaining Records
- Businesses of every size need records of everything. Expenses, sales, taxes, and others. Invoices contain very significant information for your business. For example, Sales items, customer information, taxes, delivery information, amounts the customer owes, and whether there are any outstanding payments, Having a clear and concise listing of sales and other information will make calculating your profits and budget easier.
Ready to create invoices for business?
You can create invoices on sheets of paper, using a notebook or software on a computer or an app such Waveapps or Pocketi. Do well to make sure the method of invoice creation:
- Works for your type of business
- Is easy to use
- Helps you keep track of sales or records
- Allows you to get paid after and
- Is secure and safe for both you and your customers.
The information provided on this page does not, and is not intended to constitute legal or financial advice and is for general informational purposes only. The content is provided “as-is”; no representations are made that the content is error-free.
About Pocketi
Pocketi app is a comprehensive payment and invoicing platform designed for small businesses in Ghana. It allows businesses to easily create and send invoices to customers via SMS, receive payments electronically, and even track orders and sales through an online portal. With no subscription, hidden, or monthly fees, our platform is a cost-effective way to streamline business operations and improve cash flow.
To learn more about Pocketi, download it for free, or contact our team, visit our website. Pocketi app is available for download on the App Store and Google Play. With our intuitive and user-friendly platform, small businesses in Ghana can take control of their financial future and achieve greater success.
