Invoicing Your Customers
Pro Forma
A pro forma ‘invoice’ has two main uses:
1) To send to a customer/client for payment in advance of a sale or service. If, for whatever reason, the sale is not concluded the supplier has very little administration: no credit note…
2) To accompany a consignment of goods, say on, sale or return. In this instance a full invoice would be issued, say on, a monthly basis, taking account of all units sold.
A quote is a formal offer to sell a product/service for an amount of money in a given time frame. An estimate is a guide (it should be a good guide) as to the potential cost of a product/service. If you provide a quote that is undercharged or you do not want to provide the product/service for the price you quoted, you should reissue the quote or withdraw from the sale/service. No business can be held to provide a product/service where obvious mistakes exist: this rule works for the majority of issues in business contracts/agreements.
Receipt
A receipt has been added to the Bizhelp24 package to facilitate those who are not registered for vat, as they fall below the 12 month turnover threshold of £56,000. as a reminder, a quote from H M Customs & Excise: “you will have to be registered if: at the end of any month, the value of the taxable supplies you have made in the past 12 months or less has exceeded £56,000; or, at any time there are reasonable grounds for believing that the value of the taxable supplies you will make in the next 30 days will exceed £56,000.
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