Invoice time: when to send your invoice

Whenever goods are sold or services provided and, yes, we’ve said it in an earlier article (How to make a perfect invoice?), it’s crucial that your invoice is correctly worded and made out in due form. However, there’s another equally important factor that needs to be understood and mastered: that’s the invoicing time. Read this article and find out all you need to know about when best to send out your invoices.

 

 

What is an invoice anyway?

 

If anything, an invoice is always useful as a reminder of the central element of billing.

An invoice is a document made out by a creditor and sent to a debtor; it describes an obligation of payment and the originating fact. It is useful in terms of accounting to keep track of transactions, in terms of taxation so that the State might receive all due payment, and in terms of information so that the client/debtor should be made aware, for instance, of whatever sums of money he or she is required to pay.

It should also be pointed out that an invoice must be drawn up in a number of situations:

  • Sales of goods or services for commercial purposes;
  • Wholesale transactions;
  • Sales paid by instalment;
  • Building and construction works.

 

 

Why you should send an invoice

 

As mentioned in the above paragraph, an invoice is a legally required document in most commercial exchanges. Invoices are also important for several other reasons.

First, they are useful for your accountancy system, since they allow you to keep track of each of your commercial transactions. They are also important in legal affairs, since they are accepted as proof of a commercial agreement between yourself and your client and will serve as important supporting documents in case of non-payment.

Finally, turning to the fiscal side of the equation, your invoices will allow you to complete your VAT declaration and perhaps even obtain a rebate on the same.

 

 

Invoice time: when to send your invoice

 

How soon should I send my invoice? A question that will have furrowed many a professional brow. Much as it may strike these professionals as more legitimate and interesting to spend time drawing up new quotes, taking the time to draw up and send out their invoices actually proves to be a major step that needs to be done with least possible delay. Come to that, you may also wish to know that an invoice must be made out on the day of conclusion of sale.

Such being the case, the invoice is usually sent after delivery and/or provision within what is commonly referred to as a “reasonable period of time”. Although legally correct, an unduly long invoice period may be deemed suspect by a judge having to deal with the problem of recovery in case of dispute between a creditor and his debtor. That is precisely why it is preferable to send out your invoices as soon as possible after the date of delivery of goods or provision of services.

From a legal viewpoint, the law states that the invoice must be sent not later than the 15th day of the month following the month of delivery and/or provision. That is all as well may be, but many companies will systematically send out their invoices at the end of the month. And, a word to the wise, we recommend that you send out your invoice for one-off or non-recurrent delivery or provision to private individuals or to small enterprises immediately.

Hold hard though; things are somewhat different if your invoice includes VAT. The VAT regulations in fact require that the invoice should be sent:

  • at the time that payment should be executed;
  • within 5 working days of the month of delivery of the goods or provision of the service.

 

A penalty of 50 euros may be charged in case of late invoicing.

 

 

Pro-forma invoice: what is that all about?

 

You’ve probably heard of the pro-forma invoice. But what is it, what does this mean?

The pro-forma invoice is made out “for the record”. It’s more like a non-obligatory commercial document presented in the form of an invoice. The useful items of information such as the price, description of products or service and the general conditions of sale are generally indicated. The main use of the pro-forma invoice is the facilitation of commercial exchanges between a client and a contractor / supplier. That said, such document has no force for accountancy nor legal purposes.

The pro-forma invoice is therefore issued for guidance only and in no manner or form replaces the final invoice.

 

 

How to send the invoice

 

What’s the best way for you to send your invoices to your client?

The time-honoured, tried and trusted way, still in use even now, is to send your invoices on paper by ordinary surface mail. This, however, may not necessarily be the safest way of going about your business. All you then do is to place yourself at the mercy of the Post Office, meaning you can’t cover for late delivery, human error or the loss of your invoice.

The safest and most efficient way to send your invoices is most assuredly the electronic way. In fact, sending your invoices by e-mail saves some quite considerable time, since those messages are sent out in real time, right there and right then.

 

 

Sent invoice and respect of payment times

 

Once you send your invoice the ball is in the debtor’s court. Unless a due date has been agreed for payment, payment will have to be settled upon delivery of the goods or provision of the service.

Where payment times are not respected by the debtor, the creditor may institute amicable recovery procedures (telephone call-back, payment reminder letter, etc.) by enlisting the services of, for instance, a debt recovery company.

 

Despite what you may think, the invoicing time does have its importance. That’s why you should keep your eye on the ball. If you would like us to help you to manage the recovery of your debts, you can always contact us on e-mail at sales@tcm.be or by telephone on +32 16 74 52 04.

Invoice time: when to send your invoice

Whenever goods are sold or services provided and, yes, we’ve said it in an earlier article (How to make a perfect invoice?), it’s crucial that your invoice is correctly worded and made out in due form. However, there’s another equally important factor that needs to be understood and mastered: that’s the invoicing time. Read this article and find out all you need to know about when best to send out your invoices.

 

 

What is an invoice anyway?

 

If anything, an invoice is always useful as a reminder of the central element of billing.

An invoice is a document made out by a creditor and sent to a debtor; it describes an obligation of payment and the originating fact. It is useful in terms of accounting to keep track of transactions, in terms of taxation so that the State might receive all due payment, and in terms of information so that the client/debtor should be made aware, for instance, of whatever sums of money he or she is required to pay.

It should also be pointed out that an invoice must be drawn up in a number of situations:

  • Sales of goods or services for commercial purposes;
  • Wholesale transactions;
  • Sales paid by instalment;
  • Building and construction works.

 

 

Why you should send an invoice

 

As mentioned in the above paragraph, an invoice is a legally required document in most commercial exchanges. Invoices are also important for several other reasons.

First, they are useful for your accountancy system, since they allow you to keep track of each of your commercial transactions. They are also important in legal affairs, since they are accepted as proof of a commercial agreement between yourself and your client and will serve as important supporting documents in case of non-payment.

Finally, turning to the fiscal side of the equation, your invoices will allow you to complete your VAT declaration and perhaps even obtain a rebate on the same.

 

 

Invoice time: when to send your invoice

 

How soon should I send my invoice? A question that will have furrowed many a professional brow. Much as it may strike these professionals as more legitimate and interesting to spend time drawing up new quotes, taking the time to draw up and send out their invoices actually proves to be a major step that needs to be done with least possible delay. Come to that, you may also wish to know that an invoice must be made out on the day of conclusion of sale.

Such being the case, the invoice is usually sent after delivery and/or provision within what is commonly referred to as a “reasonable period of time”. Although legally correct, an unduly long invoice period may be deemed suspect by a judge having to deal with the problem of recovery in case of dispute between a creditor and his debtor. That is precisely why it is preferable to send out your invoices as soon as possible after the date of delivery of goods or provision of services.

From a legal viewpoint, the law states that the invoice must be sent not later than the 15th day of the month following the month of delivery and/or provision. That is all as well may be, but many companies will systematically send out their invoices at the end of the month. And, a word to the wise, we recommend that you send out your invoice for one-off or non-recurrent delivery or provision to private individuals or to small enterprises immediately.

Hold hard though; things are somewhat different if your invoice includes VAT. The VAT regulations in fact require that the invoice should be sent:

  • at the time that payment should be executed;
  • within 5 working days of the month of delivery of the goods or provision of the service.

 

A penalty of 50 euros may be charged in case of late invoicing.

 

 

Pro-forma invoice: what is that all about?

 

You’ve probably heard of the pro-forma invoice. But what is it, what does this mean?

The pro-forma invoice is made out “for the record”. It’s more like a non-obligatory commercial document presented in the form of an invoice. The useful items of information such as the price, description of products or service and the general conditions of sale are generally indicated. The main use of the pro-forma invoice is the facilitation of commercial exchanges between a client and a contractor / supplier. That said, such document has no force for accountancy nor legal purposes.

The pro-forma invoice is therefore issued for guidance only and in no manner or form replaces the final invoice.

 

 

How to send the invoice

 

What’s the best way for you to send your invoices to your client?

The time-honoured, tried and trusted way, still in use even now, is to send your invoices on paper by ordinary surface mail. This, however, may not necessarily be the safest way of going about your business. All you then do is to place yourself at the mercy of the Post Office, meaning you can’t cover for late delivery, human error or the loss of your invoice.

The safest and most efficient way to send your invoices is most assuredly the electronic way. In fact, sending your invoices by e-mail saves some quite considerable time, since those messages are sent out in real time, right there and right then.

 

 

Sent invoice and respect of payment times

 

Once you send your invoice the ball is in the debtor’s court. Unless a due date has been agreed for payment, payment will have to be settled upon delivery of the goods or provision of the service.

Where payment times are not respected by the debtor, the creditor may institute amicable recovery procedures (telephone call-back, payment reminder letter, etc.) by enlisting the services of, for instance, a debt recovery company.

 

Despite what you may think, the invoicing time does have its importance. That’s why you should keep your eye on the ball. If you would like us to help you to manage the recovery of your debts, you can always contact us on e-mail at sales@tcm.be or by telephone on +32 16 74 52 04.

Don’t wait another second – collect your money

Focus on your business, we’ll take care of your outstanding payments. Contact us to find out more.

Don’t wait another second – collect your money

Focus on your business, we’ll take care of your outstanding payments. Contact us to find out more.