Invoice

2

minutes reading

What is an invoice?

An invoice is the same as a receipt and it is primarily used within B2B by companies with a CVR number.

Invoices are issued to customers/buyers when they have bought products or services from a supplier/vendor/seller. It is used to collect money from the buyer as well as for documentation in both the seller and buyer’s accounts. E.g., if a painter has painted your house, you will receive an invoice when the painter is done with his/her work.

Efficient invoice management can, among other things, help for a better overview as well as a more efficient and flexible approval process in relation to cost invoices.

Content requirements and other facts about invoices

There are a number of legal requirements for the design of the invoice that you must comply with. An invoice must at least contain:

  • Invoice number
  • Date
  • Buyer’s name and address (and CVR number if it is a company)
  • The vendor’s name, address and CVR number
  • Specification of the type, price and quantity of the product or service
  • VAT amount and total amount

An invoice can be sent and received both analogue and digital. There exist numerous different types of invoices and ways to send them – standard invoice, e-invoice, proforma invoices and more.

According to the Danish Bookkeeping Act, invoices that are part of a company’s accounting material must be kept for five years after the end of the financial year to which the invoices relate.

Want to know more?

What happens to the invoice when the buyer receives it? It must be somehow processed/handled in an invoice workflow which results in a payment of the invoice.

This is also known as invoice management, and our solution for this is Acubiz Invoice which result in an automated and digital workflow for your accounts payable and supplier invoice process.

Det er super, at I har styr på processerne!

Hvis I på et tidspunkt skal kigge jeres processer efter i sømmene, så har vi lavet et lille opslagsværk, som I eventuelt kan kigge i.

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