Accounts Payable Question:
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What is the meaning of invoice?


Answer #1
Invoice is a statement which contains the under mentioned details compulsorily.

1. Invoice Number

2. Invoice date

3. Name and address of the person

Name and address of the person to whom invoice is made. ( Buyer of goods and service)

5. Description of goods / services involved

6. Applicable rates and taxes with percentages

7. Rate of the goods / services

Quantity of the goods and services

9. Quality or any other specifications

10. Price / Value of the goods and services

11. Invoice must be signed by the person making it

12. Terms and conditions of making the payment

Answer #2
An invoice is a instrument which is used to create a obligation for buyer it is issued when a buyer buy a product from seller

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