Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Invoice shopping experience:

1. Compare - without doubt the biggest advantage that the Invoice offers shoppers today is the ability to compare thousands of Invoice at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.

2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about

3. Testimonials - don't know anybody that has bought a Invoice? Wrong! If the Invoice is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.

4. Questions - Got a question about Invoice then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....

5. Reputation - Never heard of the company selling Invoice? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Invoice and build up a picture of their reputation for sales, returns, customer service, delivery etc.

6. Returns - still worried that even after all of the above your Invoice wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.

7. Feedback - happy with your Invoice then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.

8. Security - check for the yellow padlock on the Invoice site before you buy, and the s after http:/ /i.e. https:// = a secure site

9. Contact - got a question about Invoice, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.

10. Payment - ready to pay for your Invoice, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.

An invoice or bill is a Commerce document issued by a sales to a buyer, indicating the product (business)s, quantities and agreed prices for products or services with which the seller has already provided the buyer. An invoice indicates that payment is due from the buyer to the seller, according to the payment terms.

From the point of view of a seller, an invoice is a sales invoice. From the point of view of a buyer, an invoice is a purchase invoice. The document indicates the buyer and seller, but the term invoice indicates money is owed or owing. In English, the context of the term invoice is usually used to clarify its meaning, such as "We sent them an invoice" (they owe us money) or "We received an invoice from them" (we owe them money).

Basic invoice {| border="1" cellpadding="5" cellspacing="0" style="font-size:80%;" align="right"|-! colspan="6" align="center"|I N V O I C E
Adams Manufacturing Company
19 Union Street
Kansas City, MO 99999
(999)999-9999|-| colspan="3" valign="top"|Sold to:
Zenith Company
10 Fairway Avenue
San Francisco, CA 99999| colspan="3" valign="top"|Ship to:
Zenith Company Warehouse
12 Cobbler Street
Los Angeles, CA 99999|- align="center" style="background:lightgrey;"| Invoice No.| Date| Purchase Order| Shipped| Shipper| Terms|- align="center"| 777| 11/17/06| 6895| 11/17/06| Jones Truck Co.| Net 15|- style="background:lightgrey;"| Quantity| colspan="3"|Description| align="right"|Price Each| align="right"|Amount|-| 15 sets| colspan="3"|Model S irons| align="right"|60.00| align="right"|900.00|-| 50 doz| colspan="3"|X3Y Shur-par golf balls| align="right"|7.00| align="right"|350.00|-|| colspan="3" align="right"|Invoice Total|| align="right"|$1,250.00|}

A typical invoice contains Invoice illustration adapted from Meigs and Meigs Financial Accounting 4th Ed. (McGraw-Hill, 1970), p.190 ISBN 0-07-041534-X

• The word "invoice"
• A unique reference number (in case of correspondence about the invoice)
• Date of the invoice
• Name and contact details of the seller
• Tax or company registration details of seller (if relevant)
• Name and contact details of the buyer
• Date that the product was sent or delivered
• Purchase order number (or similar tracking numbers requested by the buyer to be mentioned on the invoice)
• Description of the product(s)
• Unit price(s) of the product(s) (if relevant)
• Total amount charged (optionally with breakdown of taxes, if relevant)
• Payment terms (including method of payment, date of payment, and details about charges late payment)

The US Defense Logistics Agency requires an employer identification number on invoices. US Defense Logistics Agency - Required information in invoices

The United Kingdon requires a value added tax identification number on invoices.http://www.opsi.gov.uk/si/si1995/Uksi_19952518_en_4.htm

Variations There are many different types of invoices:

• Pro forma invoice - In foreign trade, a pro forma invoice is a document that states a commitment from the seller to provide specified goods to the buyer at specific prices. It is often used to declare value for customs. It is not a true invoice, because the seller does not record a pro forma invoice as an accounts receivable and the buyer does not record a pro forma invoice as an accounts payable. A pro forma invoice is not issued by the seller until the seller and buyer have agreed to the terms of the order (business).

• Credit memo - If the buyer returns the product, the seller usually issues a credit memo for the same or lower amount than the invoice, and then refunds the money to the buyer, or the buyer can apply that credit memo to another invoice.

• Debit memo - When a company fails to pay or short-pays an invoice, it is common practice to issue a debit memo for the balance and any late fees owed. In function debit memos are identical to invoices.

• Self-billing invoice - A self billing invoice is when the buyer issues the invoice to himself (e.g. according to the consumption levels he is taking out of a vendor managed inventory stock).

• Evaluated receipt settlement (ERS) - ERS is a process of paying for goods and services from a packing slip rather than from a separate invoice document. The payee uses data in the packing slip to apply the payments. "In an ERS transaction, the supplier ships goods based upon an Advance Shipping Notice (ASN), and the purchaser, upon receipt, confirms the existence of a corresponding purchase order or contract, verifies the identity and quantity of the goods, and then pays the supplier."http://scm.ncsu.edu/public/facts/facs041014.html

• Timesheet - Invoices for hourly services such as by lawyers and consultants often pull data from a wiktionary:timesheet.

• Invoicing - The term invoicing is also used to refer to the act of delivery (business) Luggage to a airline in an airport before taking a flight.

• Statement - A periodic customer statement includes opening balance, invoices, payments, credit memos, debit memos, and ending balance for the customer's account during a specified period. A monthly statement can be used as a summary invoice to request a single payment for accrued monthly charges.

• Progress billing used to obtain partial payment on extended contracts, particularly in the construction industry (see Schedule of values)

Utility bills Bills from public utility companies are based on measured (metered) use of electricity, natural gas or other utilities at a residence or business. Utility bill description for Duke Energy (Ohio, USA) Utility bill description for Bayfield Electric Cooperative (Wisconsin, USA) When an individual or business applies for service from the utility (opens an account), he signs an agreement (contract) to pay for his metered use of the utility.

Electronic invoices Some invoices are no longer paper-based, but rather transmitted electronically over the Internet. It is still common for electronic remittance or invoicing to be printed in order to maintain paper records. Standards for electronic invoicing varies widely from country to country. Electronic Data Interchange (EDI) standards such as the United Nation's EDIFACT standard include message encoding guidelines for electronic invoices.

But the most common continues to be PDF over email from providers such as NetSuite, Saasu.com, NetAccounts, SimpleBill, Freshboks, Invoice.com and Microsoft Dynamics. EDIFACT The United Nations standard for electronic invoices ("INVOIC") includes standard codes for transmitting header information (common to the entire invoice) and codes for transmitting details for each of the line items (products or services). The "INVOIC" standard can also be used to transmit credit and debit memos.http://www.edifactory.de/msginfo.php?s=D05A&m=INVOIC The "IFTMCS" standard is used to transmit freight invoices.http://www.edifactory.de/msginfo.php?s=D05A&m=IFTMCS

Payment for invoices Organizations purchasing goods and services usually have a process in place for approving payment on the invoice based on an employee's confirmation that the goods or services have been received. Michigan state Bureau of Transportation Invoice processing US Department of the Navy Commercial Invoice Payments History System Commercial Contracting Guidelines - US Defense Contract Management Agency US Office of Federal Procurement Policy - Best Practices for Contract Administration

See also

• Dunning (process)
• Order (business)
• Order fulfillment

References An invoice or bill is a Commerce document issued by a sales to a buyer, indicating the product (business)s, quantities and agreed prices for products or services with which the seller has already provided the buyer. An invoice indicates that payment is due from the buyer to the seller, according to the payment terms.

From the point of view of a seller, an invoice is a sales invoice. From the point of view of a buyer, an invoice is a purchase invoice. The document indicates the buyer and seller, but the term invoice indicates money is owed or owing. In English, the context of the term invoice is usually used to clarify its meaning, such as "We sent them an invoice" (they owe us money) or "We received an invoice from them" (we owe them money).

Basic invoice {| border="1" cellpadding="5" cellspacing="0" style="font-size:80%;" align="right"|-! colspan="6" align="center"|I N V O I C E
Adams Manufacturing Company
19 Union Street
Kansas City, MO 99999
(999)999-9999|-| colspan="3" valign="top"|Sold to:
Zenith Company
10 Fairway Avenue
San Francisco, CA 99999| colspan="3" valign="top"|Ship to:
Zenith Company Warehouse
12 Cobbler Street
Los Angeles, CA 99999|- align="center" style="background:lightgrey;"| Invoice No.| Date| Purchase Order| Shipped| Shipper| Terms|- align="center"| 777| 11/17/06| 6895| 11/17/06| Jones Truck Co.| Net 15|- style="background:lightgrey;"| Quantity| colspan="3"|Description| align="right"|Price Each| align="right"|Amount|-| 15 sets| colspan="3"|Model S irons| align="right"|60.00| align="right"|900.00|-| 50 doz| colspan="3"|X3Y Shur-par golf balls| align="right"|7.00| align="right"|350.00|-|| colspan="3" align="right"|Invoice Total|| align="right"|$1,250.00|}

A typical invoice contains Invoice illustration adapted from Meigs and Meigs Financial Accounting 4th Ed. (McGraw-Hill, 1970), p.190 ISBN 0-07-041534-X

• The word "invoice"
• A unique reference number (in case of correspondence about the invoice)
• Date of the invoice
• Name and contact details of the seller
• Tax or company registration details of seller (if relevant)
• Name and contact details of the buyer
• Date that the product was sent or delivered
• Purchase order number (or similar tracking numbers requested by the buyer to be mentioned on the invoice)
• Description of the product(s)
• Unit price(s) of the product(s) (if relevant)
• Total amount charged (optionally with breakdown of taxes, if relevant)
• Payment terms (including method of payment, date of payment, and details about charges late payment)

The US Defense Logistics Agency requires an employer identification number on invoices. US Defense Logistics Agency - Required information in invoices

The United Kingdon requires a value added tax identification number on invoices.http://www.opsi.gov.uk/si/si1995/Uksi_19952518_en_4.htm

Variations There are many different types of invoices:

• Pro forma invoice - In foreign trade, a pro forma invoice is a document that states a commitment from the seller to provide specified goods to the buyer at specific prices. It is often used to declare value for customs. It is not a true invoice, because the seller does not record a pro forma invoice as an accounts receivable and the buyer does not record a pro forma invoice as an accounts payable. A pro forma invoice is not issued by the seller until the seller and buyer have agreed to the terms of the order (business).

• Credit memo - If the buyer returns the product, the seller usually issues a credit memo for the same or lower amount than the invoice, and then refunds the money to the buyer, or the buyer can apply that credit memo to another invoice.

• Debit memo - When a company fails to pay or short-pays an invoice, it is common practice to issue a debit memo for the balance and any late fees owed. In function debit memos are identical to invoices.

• Self-billing invoice - A self billing invoice is when the buyer issues the invoice to himself (e.g. according to the consumption levels he is taking out of a vendor managed inventory stock).

• Evaluated receipt settlement (ERS) - ERS is a process of paying for goods and services from a packing slip rather than from a separate invoice document. The payee uses data in the packing slip to apply the payments. "In an ERS transaction, the supplier ships goods based upon an Advance Shipping Notice (ASN), and the purchaser, upon receipt, confirms the existence of a corresponding purchase order or contract, verifies the identity and quantity of the goods, and then pays the supplier."http://scm.ncsu.edu/public/facts/facs041014.html

• Timesheet - Invoices for hourly services such as by lawyers and consultants often pull data from a wiktionary:timesheet.

• Invoicing - The term invoicing is also used to refer to the act of delivery (business) Luggage to a airline in an airport before taking a flight.

• Statement - A periodic customer statement includes opening balance, invoices, payments, credit memos, debit memos, and ending balance for the customer's account during a specified period. A monthly statement can be used as a summary invoice to request a single payment for accrued monthly charges.

• Progress billing used to obtain partial payment on extended contracts, particularly in the construction industry (see Schedule of values)

Utility bills Bills from public utility companies are based on measured (metered) use of electricity, natural gas or other utilities at a residence or business. Utility bill description for Duke Energy (Ohio, USA) Utility bill description for Bayfield Electric Cooperative (Wisconsin, USA) When an individual or business applies for service from the utility (opens an account), he signs an agreement (contract) to pay for his metered use of the utility.

Electronic invoices Some invoices are no longer paper-based, but rather transmitted electronically over the Internet. It is still common for electronic remittance or invoicing to be printed in order to maintain paper records. Standards for electronic invoicing varies widely from country to country. Electronic Data Interchange (EDI) standards such as the United Nation's EDIFACT standard include message encoding guidelines for electronic invoices.

But the most common continues to be PDF over email from providers such as NetSuite, Saasu.com, NetAccounts, SimpleBill, Freshboks, Invoice.com and Microsoft Dynamics. EDIFACT The United Nations standard for electronic invoices ("INVOIC") includes standard codes for transmitting header information (common to the entire invoice) and codes for transmitting details for each of the line items (products or services). The "INVOIC" standard can also be used to transmit credit and debit memos.http://www.edifactory.de/msginfo.php?s=D05A&m=INVOIC The "IFTMCS" standard is used to transmit freight invoices.http://www.edifactory.de/msginfo.php?s=D05A&m=IFTMCS

Payment for invoices Organizations purchasing goods and services usually have a process in place for approving payment on the invoice based on an employee's confirmation that the goods or services have been received. Michigan state Bureau of Transportation Invoice processing US Department of the Navy Commercial Invoice Payments History System Commercial Contracting Guidelines - US Defense Contract Management Agency US Office of Federal Procurement Policy - Best Practices for Contract Administration

See also

• Dunning (process)
• Order (business)
• Order fulfillment

References