Due to the increasing number of questions on the essentials of the various types of accounting documents, we have decided to provide templates of all the documents that can be generated using MyInvoiceOnline.co.uk. These include a tax document, an invoice without VAT, an advance invoice, a pro forma invoice and a credit note.
What is a Delivery Note?
A Delivery Note is a document that accompanies goods delivered to a buyer. It serves as proof of delivery and outlines the items included in the shipment. Unlike an invoice, it does not request payment but confirms that the goods have been physically delivered. The buyer...
What is a Reverse Charge Invoice?
A Reverse Charge Invoice is a special type of VAT invoice where the responsibility for paying VAT is shifted from the seller to the buyer. It is commonly used in cases where the seller and the buyer are both VAT-registered and the goods or services are subject to...
What should a professional purchase order contain?
Essential Components:
Title – “Purchase Order”.
Purchase order number (PO number) – unique reference for tracking and matching invoices.
Date of issue – when the order was created.
Buyer details – company name, registered address, contact details, and...
What is a Credit Note?
A Credit Note is a document issued by a seller to a buyer to correct an error in an invoice, refund part or all of a payment, or provide a discount after the original invoice has been issued. It acts as a reverse invoice, allowing businesses to adjust their sales and tax...
What should a professional quote contain?
Basic Components:
Your business details – company name, registered office address, contact details, and VAT registration number (if applicable).
Customer details – full name, address, and contact information.
Quote number – a unique identifier for tracking...
What is a VAT Invoice?
A VAT invoice is an essential document for businesses registered for VAT in the UK. It serves as proof of the sale of goods or services and is required for VAT accounting and reporting. The VAT invoice must comply with the standards set by HM Revenue & Customs (HMRC) to...
What is a Proforma Invoice?
A Proforma Invoice is a preliminary bill of sale sent to buyers before goods or services are delivered. It outlines the goods or services being provided, their estimated costs, and other transaction details, but it is not an official invoice. Unlike regular invoices, a...
What is a Non-VAT Invoice?
A Non-VAT Invoice is an invoice issued for transactions that are exempt from VAT or where the seller is not registered for VAT. It is used in cases where VAT is not applicable, either due to the nature of the goods or services provided or the seller’s VAT status (such as...
What should a professional estimate contain?
Essential Components:
Title – “Estimate”.
Business details – company name, address, contact details, VAT number if applicable.
Estimate number – unique identifier for tracking.
Date of issue – when the estimate was prepared.
Customer details – name and, if...
What is an Advance Invoice?
An Advance Invoice is a document issued by the seller to request payment before the goods or services are delivered. This type of invoice is commonly used for large projects, subscriptions, or orders that require an upfront payment. The advance invoice outlines the...
What should a professional receipt contain?
Essential Components:
Title – “Receipt” or “Payment/Cash Receipt”.
Business details – company name, address, contact details, VAT number if registered.
Receipt number – unique sequential identifier.
Date of payment – when the transaction took place.
Customer...