Invoices: What You NEED TO KNOW
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
Everything you need to know about the Invoice. In this episode of Accounting Basics you'll learn what an Invoice is, why it's important and what's typical invoice format.
Invoicing is an essential part of any business whether you're working for yourself or for a corporation. If you want to get paid you've got to know what an Invoice is and how to use it.
In this Invoice tutorial, you'll discover the key features of an Invoice template. Invoice number, date and amount? All of these Invoice terms will be explained in full.
⏱️TIMESTAMPS
00:00 - Intro
00:50 - What is an Invoice?
01:48 - Why are Invoices important?
02:41 - What do Invoices look like?
04:55 - When to Invoice?
05:09 - Invoices vs Receipts
05:30 - Sales Invoice vs Supplier Invoice vs Purchase Invoice
05:50 - Are Invoices legally binding?
🔝 CLOUD ACCOUNTING SOFTWARE
▪ QuickBooks Online USA (FREE TRIAL/DISCOUNT) → geni.us/jA9N
▪ QuickBooks Online Canada (FREE TRIAL/DISCOUNT) → geni.us/bNN7
▪ Xero (FREE TRIAL) → xeroamericas.grsm.io/ck90eoq1...
▪ FreshBooks → www.freshbooks.com/
🔎FAQ
▪ My Favourite Accounting Book for Beginners → geni.us/5mKR7m
🚶FOLLOW ME ON
▪ Instagram → / accountingstuff
▪ TikTok → / accounting_stuff
▪ Facebook → / thisisaccountingstuff
🎬LEARN ACCOUNTING BASICS FOR FREE
▪ The Full Playlist → • ACCOUNTING BASICS for ...
________________________
DISCLAIMER
Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!
________________________
#invoice #accountingbasics #accountingstuff
Пікірлер: 682
Yo, much appreciation, i finally found someone that explains exactly what an invoice is and actually understood what the hell he's talking about.
@AccountingStuff
4 жыл бұрын
Cheers Wassim, glad the vid helped
@natherahkarim7146
2 жыл бұрын
Sorryidontwananyrhingforu.
@xshadowfistx
Жыл бұрын
@@natherahkarim7146 stupid idiot
@jeffreypetree7163
Жыл бұрын
@@AccountingStuff I'm not getting it . Say I get a invoice with the amount say $100.00, How do I pay the invoice bill , with what ? I'm tupid 😮😮
@jj..-
Жыл бұрын
@@AccountingStuff What's next when don't pay? Could I get a chart & examples for when don't pay eg. Pre reminder letter/invoice, Reminder Letter & invoice, Outstanding letter &/ invoice, statement to include with for new charges or payments made to accompany letter or invoice, & invoice or letter with late fees do up another invoice or statement, I really like to know every single step, do also send agreement to refresh their memory & if so, what stage? Do have all examples or samples do have link/s? How many steps are there in total?. Also, does it matter if I did an invoices for companyA invoice no. 01, another different companyB invoice no. 02, then companyA again for new service/fees on invoice number 03? Like it is in a cash receipt book, or does have to be eg. CompanyA invoice numbers 01, 02, 03 & CompanyB is same invoice numbers 01, 02, 03 or 04, 05, 06? What to do if already stuffed up the invoice numbers if did wrong or invoice if wrong & they already received? 🙏🙏
I've had a few people asking for more videos explaining basic Accounting terms. Are there any that you would like me to cover?
@kunnuraj7281
5 жыл бұрын
yeah.... i am... you may make a another video on " the differences between transaction and event." for example -($5000 paid as a rent of office premises is a transaction) where as ( On 1st september I paid rent $5000 is a transaction as well as event also... and (On march , after the sale of goods $5000 , he is left with the closing stock $8000 is an event..)🤔😑😥😕😓😓 how.???.. i'm getting confused..... plz make a video on the diffrences between transaction and event.... plz help..😌😌
@kunnuraj7281
5 жыл бұрын
and again #nice_one_video..
@AccountingStuff
5 жыл бұрын
Thanks for your question! That's an interesting one. To be honest, I've never really had to distinguish between Event and Transaction before. After having a read online it appears as though event can be interpreted in a couple of different ways which makes the term a bit ambiguous. Definition #1 (Broad Definition) - An event is a 'thing' that happens. This may result in a transaction if it affects the financial resources of a business. So a transaction may or may not result from an Event. Definition #2 - An event relates to the result of a transaction on a companies balance sheet. It sounds like you are using this definition. So when you say 'left with closing stock of $8000'... that would describe the event. Whereas 'the sale of goods of $5000' would be the transaction. Does that make any sense?
@kunnuraj7281
5 жыл бұрын
@@AccountingStuff thanks for ur help... i understands a little bit.. maybe....... but i still research on that ....... thank you so much 😊☺😊😏
@AccountingStuff
5 жыл бұрын
@@kunnuraj7281 No worries, good luck 🙂
I live in Japan and recently got a job that includes accounting affairs, which must be done in English and is a totally new field for me. This video helps learn the basics of invoicing. Easy to understand. Thank you for your brilliant work!
@wjarcs
Жыл бұрын
I'm developing an invoicing system software for PC desktop.. if you like a demo please let me know.. good day!
@evanmao2532
Жыл бұрын
@@wjarcs Can you please share it with me?
@bunnyman6321
Жыл бұрын
@@evanmao2532 Did the person invoicing system work for you?
My mom isn't paying me for walking the dog unless I do a stupid invoice lmao
@allpurposeconstructionwiz
Ай бұрын
If you are speaking the truth you have a good mother❤
@critter_core
Ай бұрын
@@allpurposeconstructionwiz I'm not opposed to it, she's just not helping me figure it out and I'm still confused lol Like, she wants me to do an invoice, something I've never done before, and proceeds to force me to figure it out lol
@LoriBothwell
Ай бұрын
😂🙃
@trashPanda416
27 күн бұрын
That creates .accountability. you have an outstanding mother. Don't stop building your Present ... never plateau. When you see the loop that's the warning sign....😊
@ingynnyi567
21 күн бұрын
Ofcuz she won’t help u, that’s how u try to learn from ur environment. Do u pay someone or a shop to get something u want? How did they do it? Why do they give u receipts? What do these numbers on receipt means? U need to see and learn by urself. If she teaches you, u are going to get lazy or distracted.
Really appreciate your work and your method of teaching is amazing 😊
@AccountingStuff
5 жыл бұрын
Cheers Umar, I'm glad that you're finding the videos helpful!
@Broke.NoMore
3 жыл бұрын
100000%! Correct
@tharinduhashanthavithanage3574
3 жыл бұрын
@@Broke.NoMore ddz ෆ් ව්ර්
@keithdmello
Жыл бұрын
@@AccountingStuff excellent thank you
Amazing backstage work on graphics/video/effects. Like for every video!
I live in Canada. I used to work for a company that does wholesale selling and I agree with you. We gotta make sure that invoices are signed or else the customers will deny the existence of the invoice and won't pay it. Really a pain in the ass. Thank you for this video. I was looking for AR/AP topic and somehow ended up here lol.
@bunnyman6321
Жыл бұрын
Interesting
@ugwuchibueze1877
5 ай бұрын
You are right. Pls I will like to seek for your assistance via the invoice. I just got the job new as an account officer.
New business owner and this was extremely helpful. Thank you so much.
@bunnyman6321
Жыл бұрын
How your business going?
Thank you for this. I was genuinely quite nervous about making invoices for the first time but I feel much better about it now. Have a great weekend.
@AccountingStuff
3 жыл бұрын
No worries Hannah, you too!
preparing for an interview as an administrative analyst working with invoices, this was a good refresh on some accounting basics that i wouldve lost if i relied purely on academic experience, thank you
@V3lv3n
Жыл бұрын
Got the job btw
@honeyrose6727
Жыл бұрын
@@V3lv3n congrats!
Much gratitude. Im starting a business and want to do things properly and professional this gave so much clarity ! Thank You
@AccountingStuff
4 жыл бұрын
No worries Courtney! Great to hear that you want to do things properly. It'll save you a lot of time in the future. All the best with your business!
I’ve made my first invoice! Feeling like a smart little cookie. You did scare me when you said invoices aren’t legally binding so people can still refuse to pay you. Am hoping I get paid for my contract work
Great video explaining all the details about correct invoicing. However, I think QuickBooks, Xero and Freshbooks are often overblown for a lot of small business owners. They're complex and require quite a bit of learning to not mess up things. A simpler invoicing-only system such as InvoiceBerry is not only easier to get used to, but it helps the business owner to focus on their job and leave some of the heavier accounting part to their accountant/bookkeeper at the end of the year.
@AccountingStuff
Жыл бұрын
I agree that everyone doesn't need to use accounting software. But if you form a company then it becomes very useful to use it
Thank you for this. Both concise and detailed!
This info presented was delivered with clarity and precision.Very informative.Thank you
It's always a pleasure watching your tutorials
This video is awesome! Your way of explaining is really simple and straightforward, plus the video is short, short and simple is the best all the way! Really appreciate you 😊
@AccountingStuff
2 жыл бұрын
Thanks for your kind words!
@Siapagani
2 жыл бұрын
@@AccountingStuff You're welcome 😊.
I never knew I'll be involved in this field. Great video for dummies, thanks so much!!!
@AccountingStuff
3 жыл бұрын
No problem, all the best!
Beautiful delivery....I love the preciseness
This is brilliant, so well done and explained, thank you!!
@AccountingStuff
5 жыл бұрын
Thanks Anita, you are very welcome!
Was looking for some videos about saving important papers like expired licences, invoices etc as too difficult to keep all of them, happened to see your video. It was interesting to watch. Your explanation is very good.
@AccountingStuff
3 жыл бұрын
Cheers Zafer!
Thoroughly explained. Thanks bro.
Thank you for teaching the world, i have successfully created an accounting system using your videos
I've watched a few of these videos now, and they are amazingly helpful!
I started as an accounting apprentice today and your videos have been really helpful. I have been subbed for a while and appreciate the knowledge
@AccountingStuff
2 жыл бұрын
Congrats on landing your apprenticeship! Hope it's going well :)
@zainpatel8263
2 жыл бұрын
@@AccountingStuff thanks!
You make accounting fun! I am subscribing just by watching you explaining an invoice. Great.
@AccountingStuff
4 жыл бұрын
Great to have you on board :)
This is a gem of a video. Thank you SOOOO much!!
From Afghanistan, an excellent and comprehensive description.
Loving Your Content, Your Unique Way of Explaining Things Works Perfectly!
@AccountingStuff
5 жыл бұрын
Cheers Faizan!!
thanks for making it really simple to follow because of the editing!
@AccountingStuff
4 жыл бұрын
No problem!
Thanks, Very practical and understandable!
Hey, im doing an introduction to managerial accounting at university this semester, could you do a whole review of the subject and what to watch out for/learn, really enjoy your videos
@AccountingStuff
5 жыл бұрын
Hey mate, that's a great idea, I'll read up on it. Cheers and all the best for the this semester
My first invoice for my freelance work was automatically generated today :D
@AccountingStuff
3 жыл бұрын
Nice one! Best of luck with it all :)
Very well explained, thanks a bunch!
Love the simplicity!
@AccountingStuff
3 жыл бұрын
Cheers :)
Thank you James.
This is precise, short and comprehensible. Thank you.
@AccountingStuff
5 ай бұрын
Thanks! Great to hear you found it useful :)
thats a relief i found this chanel, thank uu so much
@AccountingStuff
3 жыл бұрын
You're most welcome :)
I just started my plumbing business. That’s why I’m here. Thanks for the information ‼️
@AccountingStuff
Ай бұрын
Best of luck!!
Very informative. Thanks!
Thanks so much for the video, You've got my subscription!
Best accounting videos ever!
Thank you for this. It's really helpful
I love this video. Very informative and helpful. Thanks!
@AccountingStuff
4 жыл бұрын
Cheers Alex, glad to hear you found it useful!
This was SUPER SUPER helpful! Thank you!
@AccountingStuff
4 жыл бұрын
That's great to hear! Hope it's making sense
Умница! Ещё не досмотрела, но уже понимаю про разницу invoice and bill 💋♥️👍
Excellent video. Short and sweet and to the point.
@AccountingStuff
3 ай бұрын
Thanks, glad you enjoyed it :)
This video was awesome, quite informative! Thanks 😊 👍
Absolutely love your videos! They are so helpful… Can you do a video on: How to properly date Accounts Payable invoice that was received late (After period closed)? Every place I’ve worked does it different which makes it confusing. Thank you 🙂
thank you so much, this video of yours has made me fully understand what invoices are and you made it so easy to comprehend.
@AccountingStuff
5 ай бұрын
Glad it was helpful!
Really good and clear explanation
Keep the great work. If you continue posting videos with this quality, you will become GIANT!
@AccountingStuff
5 жыл бұрын
No worries, thanks for the support!
Very professional.
Very helpful. Really appreciate this! Thank you very much!!
@AccountingStuff
4 жыл бұрын
Cheers Aqila!
Thank you so much. Very helpful 🥰👍🏼
Thank you for teaching and sharing invoice information.😊
@AccountingStuff
3 жыл бұрын
All good, hope you found it useful!
Really helpful, thank you!!!
I just like the way you explained. Thank you so much for your great effort 👍🏻. Now i never forget about invoice.
@AccountingStuff
3 жыл бұрын
No worries, you're most welcome :)
Gracias chingon... fuiste de mucha ayuda!!! Suerte en lo que agas!!
@AccountingStuff
4 жыл бұрын
De nada :)
Thank you for the clarification!
@AccountingStuff
4 жыл бұрын
No worries Leonid
Thank you for the straight forward and informative video, this was particularly helpful as I'll soon be starting a new job as a Accounts Assistant with a local accountancy firm where I am in the UK. Part of my job will consist of processing invoices and resolving queries related to them so this video really does help a lot!
@AccountingStuff
3 ай бұрын
No problem. Congrats on your new job!!
Tnk u i'm appreciated your teaching
Thank/You Mr. INVOICE.👍👍👍
Thank you very much, you make it clear.
@AccountingStuff
4 жыл бұрын
No worries, you're welcome :)
Thanks you for this wonderful piece of info
The video was really helpful thanks a lot
Thank you! very clear and easy. I can get on with stuff now.
@AccountingStuff
3 жыл бұрын
Cheers, glad to hear it!
thanks bhai , love from india
Thanks bro!
Thanks for sharing. You make Accounting fun with your liveliness and energy in your presentation
@AccountingStuff
2 жыл бұрын
Thanks, glad you enjoyed it!
BEST ACCOUNTING CHANNEL
@AccountingStuff
3 жыл бұрын
Thanks buddy!
It was so helpful.Thanks
@AccountingStuff
3 жыл бұрын
Thanks, glad to hear it!
impressive editing! awesome source of info!
@AccountingStuff
4 жыл бұрын
Cheers Thomas!
Love the attention to details :)
@AccountingStuff
5 жыл бұрын
Thanks mate!
Great videos bro 👍🏽
Hi ! Enjoyed the simplicity, yet entertaining, quality of your QBO video. Confused on Client Payment: Received vs PAID + CLOSED. Can you please answer? Easy explanations are rare. Appreciate! (I am QBO 2020; considerer me newbie-ish)
You are the men You are Big teacher 🙏🙏🙏
Thank you! And dope transition at 4:48
@AccountingStuff
Жыл бұрын
Thanks Nel!
Simple Easy and great video, me and my dad started our custom cabinets business and he leaves me to the task to do all this stuff this vid was relly helpful also how do we charge taxes??
Great and explicit contents. My congrats. Could we have a video explaining in summary the Accounting Documents and the link between them?
You're just awesome had AR interview I asked same questions what u told end 4 questions..thanks for sharing
@AccountingStuff
3 жыл бұрын
No problem! Hope it went well :)
Dude that was well done. Thanks for the data and making it so simple. : )
@AccountingStuff
2 жыл бұрын
No problem!
Omg, THANK YOU! That was extremely helpful 😁
@AccountingStuff
5 жыл бұрын
No worries, happy to help!
@fevenberhane2951
4 жыл бұрын
@@AccountingStuff btw, love ur aura :)
Thanks a lot.
Thank you
great bit of information , ive just started out as a sole trader in the uk and had no idea how to even set up an invoice let alone what was needed, still a bit hazy as your video was for a service to a buyer where as im looking for one with work done for a company, so i need to work the tax needed and overtime rate to send to the accounts department, but im sure ill get there lol. keep up the great work.
@AccountingStuff
2 жыл бұрын
Best of luck with your new business! Hope it's going well :)
This helped. Thank You
@AccountingStuff
3 жыл бұрын
No problem, glad to hear it!
Wow u just help the with my accounting problem thanks
@AccountingStuff
3 жыл бұрын
No worries, I'm happy to help :)
This video was very helpful, thank you
@AccountingStuff
6 ай бұрын
You're welcome!
great stuff!! Thx bud !
How do I know if I have to include tax for a certain job? And how do I know how much tax should I charge?
Excellent video!
@AccountingStuff
5 жыл бұрын
Thanks wiliboob!
Thanks for the video!
@AccountingStuff
3 жыл бұрын
You're very welcome :)
Wow nice to the point
Thank you for explaining what invoice are . My question I cleaning houses
Great video Thankyou so much 🙏🙏
@AccountingStuff
Жыл бұрын
My pleasure 😊
Well explained. thank you bro.
@AccountingStuff
Жыл бұрын
Cheers, hope it made sense!
Thanks a lot James
@AccountingStuff
4 жыл бұрын
No worries Jinesh
rlly clear explanation, great video 👍
@AccountingStuff
4 ай бұрын
Thanks, I'm glad you enjoyed it :)
New to running my own business thank u