5 Types of an invoice that you need to know

Invoice is an undeniable asset to keep track of your transactions. Any type of invoice, either online or offline, would help you keep track of your income and expenses. In this way, you can manage your finance effectively month on month.

What is an invoice?

An invoice is a document, or a receipt provided by the seller to the buyer to keep track or acknowledge the transaction done. An invoice holds detailed information about the products purchased, tax, mode of payment, invoice number, and payment terms. Some also include the seller details.

In today’s post, let us concentrate on the types of invoices available online. Through this post, you will have clarity on the elements of an invoice generated through online invoice software like ecBill.

#5 Different types of invoice:

There are almost 12-15 types of invoices available. In this post, we would cover around 5 types of an invoice that are likely important for your business.

#1 Standard Invoice:

A standard invoice is a common invoice format that most businesses use. This invoice comes with a logo, business name, invoice number, contact information, and payment details. If you are using an online invoice software, you can opt for the standard invoice software to send it to your clients.

Online billing software like ecBill offers you a professional standard invoice that looks appealing to your customers and clients.

#2 Commercial Invoice:

A commercial invoice is likely to be exchanged between businesses with a little detailed information. The information on a commercial invoice includes product name, product count, shipping cost, shipping material, customs duty, and a lot more.

A commercial invoice is generally used by manufacturing or export industries. Therefore, these invoices would contain a detailed description of the purchase handled.

#3 Recurring Invoice:

Recurring invoice is a time-consuming and tiring one to generate every single time. They are commonly used in the rental industry and are available through invoice generating software like ecBill. If you are someone in the rental industry and finding it difficult to generate a recurring invoice every time you need one. Then you can make use of online invoice software like ecBill. This makes your work simple and saves time.

#4 Mixed Invoice:

A mixed invoice is a combination of both debit and credit notes. The final amount can either be negative or positive on calculating the settlement. A mixed invoice helps you to keep track of your bills and settlements that can be helpful during your year-end taxation process.

#5 Final Invoice:

A final invoice is more or less similar to a standard invoice. A seller sends the final invoice of the entire project or service to his customer that he needs to pay. The Final invoice holds the essential elements of an invoice including the logo, business name, and invoice number.

Wrap up:

The above post on the types of the invoice would help you know much better the invoice pattern that you need to follow for your business. There are several other types of the invoice that we would cover in the future. To help you with your invoice process and make it available anywhere and anytime, you can opt for ecBill.

ecBill is one of the leading online invoice software which holds several features that makes your experience lighter and more effective. You can also avoid the fear of losing any important information.