Invoice example With GST & PST An invoice not only shows the customer or client how much money is due but provides tax information, in some countries multiple taxes may apply, for example in Canada it is required to put the Supplier's identification numbers for GST and QST taxes purposes. Whenever a taxable sale is made, the customer must be informed that GST and QST are added to the selling price. As there are no standard invoices required by law for this purpose, you must indicate the amount of the taxes on the cash register receipt; on the invoice or contract remitted to the customer. If you choose to indicate the GST and the QST, the amounts must be stated clearly.The European Union requires a VAT (value added tax) identification number on invoices between entities registered for VAT.
Maybe it's time to move to a paperless, web_based invoicing! Because, what is a business without a healthy cash flow? Only an expensive hobby, eating your existing assets and your valuable time. Your business will reach its full potential only when your ideas can be turned into sales, and those sales into money! And all the stages in this process have to be done as quickly and efficiently as possible! That is impossible to achieve without setting up a proper invoice tracking software.
Extending the solution _ Now that the solution is fully implemented, they are already looking at the next steps. An obvious move is to capture invoices that originate electronically, either as EDI or that are sent by email. Although the data entry problems may not exist with these invoices, they still need to be approved in the same way as paper invoices so the workflow will be of benefit. IMS also includes a Management Information module with full reporting capabilities which is also being investigated.