Teamleader Blog Article

Types of invoices: overview and tips

Cedric Auman Cedric Auman on 09-Jul-2020 11:55:48 in invoicing

Types of invoices: overview and tips

Whether you're a chimney sweep or developing blockchain applications, in the end the icing on the cake is the same in every business: the invoice. And in essence, all invoices are the same: they get you paid. But some are more equal than others. A quick overview of all types of invoices.

Depending on business, the nature and duration of the work, the type of invoice may be different. Unfamiliar with the noble art of invoicing? This overview will help prevent you from looking like a fool, for sending a periodic invoice that should have been a recurring one. 

A correct invoice is the first step to getting paid correctly. After reading this blog, you'll be able to send out invoices that don't remain unpaid. They still do? We have a guide for that, too. u will send such correct invoices that they will never remain unpaid. Will they still remain unpaid? We have a step-by-step plan for this as well.  

Types of invoiceThe standard invoice 

The invoice to end all invoices. The Alpha. In most industries, transactions can be invoiced using a standard invoice, which contains rudimentary information about the work delivered, the customer and the supplier. 

Periodical invoice or subscription

Sometimes, projects may take so long that the costs pile up and a part is already being paid. Think of building a house, for instance. In these cases, a company sends a periodic invoice to be able to pay its staff in time. 

Sending out invoices each month? You'd be crazy to do that manually. Did you know you can create subscriptions for recurring invoices in Teamleader? 

Recurring invoice 

Periodical invoices are not to be confused with recurring invoices, which are sent at regular intervals, often at the end of the month. Think of businesses that charge fixed monthly amounts, like rental companies. 

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Commercial Invoice

Commercial invoices are used for foreign trade, when goods cross borders. Custom declaration requires an invoice to hold more information, like contact details of both buyer and seller, items sold, cost price of the items and taxes due. There are also special features like country of origin, carrier ID number, codes for each item and authentication. 

The advance invoice

Long payment terms are sometimes very annoying, especially for SMEs with a tight cash flow. With an advance invoice, you can have your client pay part of the invoice before delivery or execution. Moreover, it gives you some extra security, because you never know what will happen in the meantime.

Pro tip: in Teamleader you can easily create advance invoices

Invoice timesheetTimesheet invoice or invoice based on time registration

Some service professionals do not invoice on the basis of a product, but on the basis of hours. In that case, you send a timesheet invoice with the hours worked on it. This is ideal, for example, for consultancy agencies that offer services based on time. 

Pro forma invoice 

Or simply: a 'quotation' or 'cost estimate'. Strictly speaking, a quotation is not a request for payment, but gives the buyer an idea of the price. At the same time, it is also a promise from the supplier to deliver a certain product or service. The pro forma invoice is usually an estimate, so the amount may differ later on the actual invoice. 

Digital invoices are the new... well, invoices.

Billing in the old-fashioned way is extremely time-consuming. Moreover, you get a rough tongue from licking too many stamps. That's why it's better to choose a tool like Teamleader, which makes digital invoicing a breeze. Easy online invoices , in your own house style, sendable in bulk and many more wonderful features. Moreover, Teamleader also bundles CRM and project management in one tool. 

Eager to go digital? Before you fly in like a madman, you'd better read our guide on how to create an invoice in Teamleader

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