Sales invoices serve two important purposes. Firstly, they let your customer know what they owe you for goods or services that you have provided; and secondly, they record the sale. The second reason explains why copies of your sales invoices must be kept on file for accounting and tax purposes.
What to include on a sales invoice
When you issue a sales invoice, you must include certain basic information:
- Your customer’s name and address
- Invoice Date
- Invoice Number
- Your business name and address
- Your business’s VAT registration number (if your business is VAT registered include your PPS number)
- Your bank account information so that your customer knows where to pay you
- Details of the goods or services that you provided
Is your business registered for VAT?
If your business is VAT registered, there are additional requirements. Detailed guidance on this is available on the Revenue website. Note that VAT invoices must be issued within fifteen days of the end of the month in which your goods or services are supplied.
Top tip: Check that your process for issuing sales invoices captures all the required information, that your invoices are being issued on time, and that you are keeping copies on file. This will save a lot of hassle if your business is selected for audit.
Need help with your sales invoicing? Get in touch with me here for details of our invoicing services.