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Payment > Issue an Invoice

  1. Invoice types

If you sell a product or a service, you need to give your buyers an invoice (bill) by law if both you and the buyer are registered for VAT (a business to business transaction) or the buyer is not registered to VAT. An invoice is not the same as a receipt, which is an acknowledgement of payment. You and the buyer also have certain obligations on payment.

 

Learn more about payment obligations in Payment obligations section, Seller’s responsibility policy, Payment policy and Terms and conditions.

You cannot print an invoice from Dealstocker directly. To comply with the law, every invoice has to have certain information (depending on the type of the invoice) about seller, company, items etc. that only you, as a seller can provide.

 

Invoice types

The standard invoice:

You can download standard invoice template here.

 

You must clearly display:

 

  • The word ‘invoice’ on the document,
  • a unique identification number,
  • your company name, address and contact information,
  • the company name and address of the customer you are invoicing,
  • a clear description of what you are charging for,
  • the date the goods or service were provided (supply date),
  • the date of the invoice,
  • when the customer must pay you,
  • the amount(s) being charged,
  • VAT amount if applicable,
  • the total amount owed.

 

VAT invoice:

You can download VAT standard invoice template here.

 

In a case your buyer is also VAT registered, you’ll need to include additional information for VAT invoices. You must use these invoices if you and your customer are VAT registered.

 

Only VAT-registered businesses can issue VAT invoices and you must:

 

  • issue and keep valid invoices (these can be paper or electronic)
  • keep copies of all the invoices you issue even if you cancel them or produce one by mistake

 

You can’t reclaim VAT using an invalid invoice, pro-forma invoice, statement or delivery note.

 

Valid invoices

 

You’ll use a full VAT invoice for most transactions. You can use:

 

    • a modified invoice for retail supplies over £250
    • a simplified invoice for retails supplies under £250 - and for other supplies from 1 January 2013

 

Include the following on your invoice, depending on which type you use:

 

Invoice information Full invoice Simplified invoice Modified invoice
Unique invoice number that follows on from the last invoice Yes Yes Yes
Your business name and address Yes Yes Yes
Your VAT number Yes Yes Yes
Date Yes No Yes
The tax point (or ‘time of supply’) if this is different from the invoice date Yes Yes Yes
Customer’s name or trading name, and address Yes No Yes
Description of the goods or services Yes Yes Yes
Total amount excluding VAT Yes No Yes
Total amount of VAT Yes No Yes
Price per item, excluding VAT Yes No Yes
Quantity of each type of item Yes No Yes
Rate of any discount per item Yes No Yes
Rate of VAT charged per item - if an item is exempt or zero-rated make clear no VAT on these items Yes Yes Yes
Total amount including VAT No Yes Yes

 

Exceptions

 

There are different invoice rules if you use a VAT Margin Scheme or trade internationally.

 

If you use the Cash Accounting Scheme you have to stamp an invoice with the amount of cash paid and the date.

 

Deadlines

 

Usually VAT invoices must be sent within 30 days of the date of supply or the date of payment (if you’re paid in advance).

 

Foreign currencies

 

You don’t have to show all amounts on your invoices in sterling. But if there’s any VAT due you must show this in sterling.

 

To convert to sterling you can:

 

    • use the market selling rate at the time of supply
    • use the European Central Bank’s rate - from 1 January 2013
    • use HMRC’s period rates of exchange - the rates usually stay the same for each calendar month
    • apply to HMRC to use a different method to account for the VAT

 

To read more about VAT invoices please visit www.gov.uk/vat-record-keeping/vat-invoices

 

Limited company (Ltd.) invoice:

 

You can download Ltd. invoice template here.

 

If you’re a limited company, the invoice must also include:

 

  • The full company name as it appears on the certificate of incorporation,
  • any business name used in your business,
  • an address where any legal documents can be delivered to you if you’re using a business name.

 

Sole trader invoice:

You can download sole trader invoice template here.

 

If you’re a sole trader, the invoice must also include:

 

  • The trader’s name or any business name being used,
  • an address where any legal documents can be delivered to you if you are using a business name.

 

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