All around the world, millions of business transactions occur within a day. An invoice is one of the most important documents used to complete such transactions. If you own a business that provides items or utilities to individuals, you must create your invoice. The invoice you create depends on your needs and the needs of your clients. Above all, you would want an invoice that eases your procurement process and ensures prompt payment from your clients.
One way to further ease the invoicing process is to include tags on your invoice. A tag allows you to group similar invoices. For example, a tag can allow you to arrange together invoices from the same client. Similarly, you may want to group the invoices that are handled by a particular procurement officer, and tagging is the best and most efficient way to get it done.
Creating an Invoice without a Tag
For you to create an invoice, you would require software application as it is the best way to get it done with ease and efficiency. There are two types of software applications to choose from in the market. Generic applications (word processing or spreadsheet applications) and specialized applications are the two types of applications used to create an invoice.
After you have chosen a preferred software and desired invoice template to work with, you need to go through the following processes. These stages are stated below.
- Provide a Title for the Invoice and Invoice Number
- Add Your Company and Buyer Information
- Describe all Goods and Services Sold or Supplied
- Include all Relevant Dates
- Highlight Additional Fees, Deductions, Taxes, Advances, and Others
- State Payment Method, Terms, and Personal Message
An in-depth description of generating an invoice is provided in the article How to Create an Invoice.
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Creating an Invoice with a Tag
Creating an invoice without a tag is the first step in creating an invoice with a tag. Developing an invoice with a tag would allow you to tag similar invoices together.
You can tag an invoice while creating or saving an invoice. Most specialized software would give you the option to include a tag on an invoice at the point of creation through a specific field. It would usually be a dropdown menu that allows you to select predetermined tag options. Generic software enables you to include a tag while saving the document.
You could also tag invoices after creation. You would have the option to include tags on saved documents within the file folder. Regardless of how you tag an invoice, all invoices with similar tags would be grouped in the file folder. In some cases, some software applications allow related invoices that would have similar tag identifiers, which come in various colors. Therefore, you would have to decide the type of tag that best works for you and can increase your organization’s efficiency.
Here’s the list of main invoice fields:
- Company information
- A unique identifier, date, and invoice number
- List of items and services
- Terms of sales
- List of fees
- Total due amount
Useful resources about invoices:
- How to Create an Invoice
- Tips to Customize your Invoice Templates
- Differences Between Bill and Invoice
- How to Create Invoice With/Without Logo
- How to Create Invoice With/Without Discount
- How to Create Invoice With/Without Tags
- Bill-Only Requisitions
- Payment Requisitions
- Purchase Orders
- PR vs PO
- Tax Invoice
- Chargeback Invoice