When a company or an organization purchases any material or product from another company, an invoice is given in return. This invoice is known as an open invoice. The invoice is not only given in return for product purchase but also presented in return for services. This invoice works for both parties and is best for accounting and audit purposes.
The invoice carries all the details of the account payable and receivables along with the due dates. Usually, this invoice is presented by the service or product provider to the purchaser. It is advisable to receive this invoice after a complete check.
Invoices can either be printed out from software or templates available or can also be made on your own. The invoice should carry the name of the company and logo on top of it, giving the complete details of the company. The date, invoice, and reference number should be well-written too. The name and details of the Receiver Company should also be mentioned together with the delivery address details.
Particulars of the delivery and receiver person and a space for their signs should be left while; a description area should be created to add all the information in depth together with the entire amount payable. A portion to mention subtotal, sales tax amount, any discount given, and any net amount should be mentioned clearly.
This invoice should be given to both parties and should be kept safe, firstly, to avoid any misunderstanding and secondly, to keep the records for accounting and auditing purposes.
Open Invoice Template
For: EXCEL(.xls) 2003 & later [Android+iOS] & iPad
Download File Size: 156 kb
For: OpenOffice Calc [.ods] | Download File Size: 47 kb
[Personal Use Only]