All terms
Finance & Moneybeginner

Invoice

Definition

A formal document you send to a client or business requesting payment for goods or services delivered. It specifies the amount, payment terms, and bank details.

Why it matters

An invoice is your legal request for payment. Without one, you have no formal record of what is owed or when. Proper invoicing protects you under the Late Payment Act.

Example

You complete a brand photography project for £600. You send an invoice stating: services delivered, amount £600 + VAT, payment due within 14 days, your bank details.

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