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Fascinating Law Firm Invoice Sample

001 Invoice Template Hero Legal2x Law Firm Fascinating Sample Example Bill Format
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Law Firm Invoice Sample

To give you an idea about how invoice factoring transactions work, here are some of the main steps in the process: You submit an application to an invoice factoring company. After you're approved for invoice factoring with the company, you can start forwarding your customers' invoices to the company for cash advances. (Your customer will receive a bill from the factoring company, which will be responsible for all payments processing activities related to the invoice.). Assuming everything checks out, you'll be advanced up to 90 percent of the value of the purchased invoices. Your customers most likely submit payments to the company that bought their invoice. This company, in turn, will forward you the remaining, unpaid portion of the invoice excluding the invoice factoring fee, of course.

There are certain pieces of information that have to be on your invoices if you are charging GST, HST and/or PST. Your invoice must include: • your business name • the date of the invoice • your Business Number (also known as the GST Registration Number) • the purchaser's name • a brief description of the goods or services performed • the total amount paid or payable • the terms of payment • an indication of items subject to GST at 5% or HST at the appropriate provincial rate, or that the items are exempt, and either the total amount of GST/HST charged, or a statement that the GST/HST is included and the total rate of tax • if applicable, an indication of items subject to PST (also known as RST) at the provincial rate, or that the items are exempt, and either the total amount of PST charged, or a statement that the PST is included and the total rate of tax.

Cash flow shortages can happen to almost any business, but invoice factoring can provide a quick, easy solution. Invoice factoring involves the selling of your account receivables or invoices to secure immediate working capital.

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