Electronic Invoice Template

What Is an Electronic Invoice Used For?

The electronic invoice is a legal document that constitutes and authenticates a service or product that has been provided or received or a product has been purchased or sold. Using an electronic invoice has many benefits. These are just a few.

• Cost and time reduction: One of the main benefits of electronic invoicing is the saving of expenses in invoice management. Processing times are much shorter thanks to the automation of processes.
• Caring for the environment: Another major factor affecting reducing costs is saving in paper, ink, folios, files, and other materials that involve manual invoices. Furthermore, digitization helps to reduce the environmental impact of companies.
• Reduction of tax evasion: Electronic invoicing allows greater control of tax evasion, helping to reduce the fiscal deficit.
• Instant and secure information: The use of a billing program offers detailed and instantaneous information about companies' entire production and marketing chain. Besides, the possibility of having invoices in an electronic format provides a greater security degree in the management of the entities.

How to Create an Electronic Invoice?

You can easily create a high-quality electronic invoice with Agiled; you just need to follow these simple steps:

1. Download your free electronic invoice template from Agiled.
2. Add your business name, your name, and contact details.
3. Add your logo in different fonts and size if you have one.
4. Add the client’s name and contact details.
5. Add unique invoice number.
6. Add invoice issuance date.
7. Add the payment due date.
8. Add shipping conditions, if needed. Write if you or the buyer will pay for shipping.
9. Add the details of the services or products you’re billing for. Add the description of each, costs, and quantities.
10. Add sales tax, if needed,
11. Calculate the total amount
12. Add payment method
13. Add payment terms and conditions.
14. Add personalized message
15. Save
16. Send your invoice via email, Agiled, or fax, etc.

Electronic Invoice Types

The type of invoice you use relies on your business, billing methods, etc. An electronic invoice is a typical invoice that can be in any format.

The most common invoice types include:

• Standard Invoice: The standard invoice helps you know exactly how much is paid by the client against your services.
• Recurring Invoice: This invoice template helps you receive your billing amount from your client regularly. This type of payment is made when a client buy a subscription to your services
• Prepayment Invoice: Through prepayment invoices, you can bill your client for the initial or advance payment before providing your services.
• Time-Based Invoice: A time-based invoice empowers you to bill your client for your services on an hourly basis.
• Credit Invoice: When there is already credit in the account, this credit invoice helps your clients know when the credit will be transferred to their account. It is sent to the clients whenever a refund is submitted.
• Debit Invoice: This is used to inform the clients that they have owed the amount for your courier services.
• Mixed Invoice: It contains or shows both credit and debit amounts.

When to issue an invoice?

Regarding the timing of issuing invoices, invoices are documents that need to be issued in response to invoices that accompany the provision of services and goods.

Therefore, it is not realistic to issue an invoice earlier than the delivery, such as when an order is placed. The invoice will be issued at the same time as the delivery or after the delivery. In general, we often use a method called the "every time method" in which a transaction occurs, and a bill is charged each time the product is delivered. Adopting this method has the advantage of improving the cash flow of the company.

Besides, if billing is done many times a month or regular transactions every month, we may adopt a "payment method" in which billing is billed in a lump sum. Make sure to consider the relationship with your business partners and your company's cash flow.