A purchase invoice is that legal document which is prepared by the seller. It clearly mentioned the quantity, complete description, and nature of services or goods, respective price against services and goods and all the other details about the goods and services provided.
A purchase invoice is usually issued by the seller to the buyer to let him know how much he is required to pay. It is a commercially used document that includes the details about the items purchased by the buyer such as quantity, price, sales tax etc. This document also serves as a proof that the buyer bought something, and the transaction was made.
Many sellers ask the buyer to sign the receipt to keep it as a proof that the transaction was made successfully. One copy of the invoice is given to seller and one is kept by the buyer for record keeping purpose. Once the buyer receives the invoice, it is his responsibility to make the payment.
This invoice also includes the contact details of the seller or vendor and the buyer. A purchase invoice is considered to be a beneficial document for both the parties the buyer and the seller.
If any professional or concerned business personnel wish to prepare a purchase invoice on his own, he should use the given invoice template or purchase order invoice as a sample template.
This purchase invoice will be a helpful tool in this regard. This invoice can be got prepared by some professional by paying his fee or can be downloaded for free from websites providing these templates with or without any cost.
In case you decide to create your own template or want to get it prepared from a professional, it will cost a lot of time and money. But if you will download this invoice online for free it will cost you no time and no money.
Just you would need to do is to modify and edit it according to your requirements and will need to add or delete few fields as per your details.
If a product is in transit, the purchase invoice is helpful in finding the exact details that why the product is in transit. Whenever there are found any discrepancies regarding taxation, these can be settled only with the help of purchase invoice. A number of details about the purchase are mentioned in this invoice including service tax, the percentage amount levied on tax i.e. sales tax and other relevant particulars of the product.
Preview and details of the template
File:Excel (.xls) 2007+ and iPad Size 45 Kb | Download
File: OpenOffice (.ods) Spreadsheet [Calc] Size 36 Kb | Download
License: ENERGY (Personal use only)
(Distribution) by Kate Elizabeth(CEO)
What are the main elements of the purchase order?
With the help of a purchase invoice, the seller basically makes a request to the buyer to make the payment. The details to be included in the invoice completely depend on the business needs and likes. Some of the common details that are added in a commonly used purchase invoice are:
- Unique invoice number
- Business name and contact details of the invoice
- Payment schedule
- Total amount which is due to vendor
- Name of item purchased and total amount to be paid
What are the benefits of using the purchase invoice?
Nearly every business uses the purchase invoice when it sells its items. The reasons why the businesses like to use purchase invoice are:
- With the help of purchase invoice, a business can keep track of how much it is earning each day. In this way, the businessman can keep track of the profit made by the business in each month
- The purchase invoice is a great tool since it helps the seller to collect the money from the customers. The customers feel more responsible when they get a written purchase invoice. Therefore, the request to make the payment through phone call is not considered to be suffice
- A business is capable of managing the payments more easily with the use of purchase invoice.