Posts Tagged "invoice management"

Are Your Invoices Correct?

Posted by on Mar 26, 2014 in Blog

Are Your Invoices Correct?

If you are planning to start, or have already started a new business, you will want everything to be in order – especially from a financial point of view. One of the most common mistakes that many business owners make (even those who have been in the business for quite a long time) is sending out incorrect invoices. At first, this does not sound too serious – you can always reissue a new one, right? However, the matter is not that simple and a wrong invoice may have serious consequences for your business, including interruption of the cash flow and financial losses. When it comes to invoices, there are some things you need to know in order to get them right. First of all, you need to distinguish between the two types of invoices:  a ‘tax invoice’ and a ‘general invoice’. The first one is issued by businesses registered for Goods and Services Tax (GST) and the second one is for non-registered GST businesses. Once you know this, you only need to include the information mentioned below and your invoices will be correct. No matter whether you are issuing a general invoice or a tax invoice (and don’t forget to distinguish...

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