Why record an invoice?

Why record an invoice?

When the accounting year is closed, the bills must be kept. They are used as supporting documents for customers, tax authorities, etc. By law, the company must retain its bills for a period of at least 10 years.

Why record a purchase invoice?

L’registration of one invoice carried out on a regular basis will allow your software to detect oversights on the part of your supplier (such as sending the purchase order but not the invoice), as well as to take into account the VAT in the most precise way possible.

How long does it take to send an invoice?

It is therefore recommended to send your invoices quickly after the date of delivery or performance of the service. From a legal point of view, the law stipulates that you must send the invoice no later than 15 days after the delivery date. However, many companies invoice at the end of the month for accounting reasons.

What is Invoice Regulation?

Regulation of the invoice 1 The obligation to issue an invoice ¶. Any taxable person must ensure that an invoice is issued for the deliveries of goods or the provision of services that he carries out for another taxable person or… 2 Mandatory information to appear on the invoice ¶. … 3 Storage of invoices ¶. …

What are the roles of the invoice?

The invoice has several functions It materializes the financial transaction, – It constitutes a supporting document for accounting, – It constitutes a supporting document for the collection and deduction of VAT. Because of its importance, the invoice is subject to very precise regulations.

How does invoice numbering work?

When the numbering is planned over a period (year, year and month, etc.), the numbering starts from zero at the start of a new period. Example: a company numbers its invoices monthly and annually. It ends the month of May of the year 2016 with a numbered invoice…