Simple invoicing number convention how to#
Simple invoicing number convention manual#
Simple invoicing number convention software#
Simple invoicing number convention trial#

Who knows when a client might query an invoice they paid several years ago?.

Not only does it help you to keep track of how your business’s finances have developed over the years, it also gives you piece of mind. Storing invoices for as long as possible is a good idea. How long do invoices need to be stored for? Zistemo Hint #4: “The advantage of a sequential numbering system is that it helps you to deal with each project as a self-contained unit and prevent from mistakes in tax calculation”. This is another reason why sequential numbering of invoices makes your life easier all round. This means that you are much more likely to make a mistake in your tax calculations, thinking that you have factored in a certain invoice when in fact you have not. Moreover, as suggested above, if you have several invoices with duplicate numbers, the margin for error is greatly increased. If your accounts are audited, then incorrectly numbered invoices can look suspicious.

Simple invoicing number convention manual#

Non-compliance to the country-specific electronic invoicing regulations increases business risks associated with a tax audit, and in some cases, fines.Īs a result of these challenges, many companies choose to comply via paper invoices and manual processes and miss out on the huge opportunity for cost savings and streamlined processes that can be derived from e-invoicing.Different regulatory requirements in each country significantly increase the cost and complexity of tax compliance.The project related numbering system nevertheless works on a basic sequential numbering model, so it also has the advantages of sequential numbering systems, as discussed above. This is particularly good for medium sized or larger businesses, which perhaps have separate teams of employees working on each of several projects at a given time.

Simple invoicing number convention trial#

Why not sign up for a FREE trial and see for yourself? The advantage of a project related numbering system is that it helps you to deal with each project as a self-contained unit. Zistemo Hint #3: zistemo masters the project related numbering and it supports Customer Level Invoice Sequence. The first invoice for project 2 is also numbered ‘1’, and the numbers for this project also increase sequentially until the end of the project. With this system, the first invoice for project 1 is numbered ‘1’, and the numbers increase sequentially until the end of the project. With such a system, you use a separate invoicing sequence for every project that you are working on.Įach project may have multiple clients, though it is much more common for a single project to be allocated to a single client. If you really want to, though, you can opt for a project related numbering system. That’s way sequential invoice numbers make your life easier. Even if you mark invoices with the client and the month, there is increased possibility for confusion. You can see how this can get you into a muddle! Suddenly you have several invoices labelled ‘3’, but all for different clients, or for the same client but for different months. When a new month starts, you might be tempted to reset the numbers back to ‘1’. So, client 1 starts off with invoice numbered ‘1’, and client 2 starts with an invoice number ‘1’ as well. It can be tempting to have a separate invoice system for each client, or for each month. The possibility for confusion when marking an invoice can be decreased by labelling all invoices… Click To Tweet Does sequential invoice numbers simplify your life? how long it has been since you issued the invoice to the client. Zistemo will keep an eye on the numbers so you don’t get confused any more.

Simple invoicing number convention software#

Invoice Templates created with zistemo Invoice Software

Simple invoicing number convention how to#

To know more check what is an invoice and how to create a good invoice to get paid faster. In most simple words an invoice is a document issued by a seller to a buyer that specifies amount and costs of services or products provided by the seller. Here are some examples of invoice numbers.