Articles for service business owners

 

What should you include on your trades invoice?

6th May 2017

Invoicing. It’s a hassle. But no matter what trade you’re in, it has to be done… but, what should you include when creating your invoice?

Here are our top tips on what you should include on your trade invoices.

These are things you must include on your invoice:

  1. You must include the date for the invoice and a unique invoice number — These will help you at the end of the year with your tax return and if you ever need to find a particular invoice. These must follow on from one another (e.g. ABC1, ABC2, ABC3 etc…), and if one is spoilt or cancelled, it has to be kept as a record for HMRC.
  2. Your business name and address — this probably seems obvious, but you’d be surprised at how many tradesmen forget this.
  3. The name and address of the person you’re invoicing — again very obvious, but worth remembering.
  4. A list of products and services you provided — line by line and the cost of each of these. Not only is this a requirement, but it can help if your customer disputes the price, as they get all the information.
  5. Total amount of the invoice — because you need to show the price, right?
  6. Terms of payment for the invoice — for example if your customer pays in one lump sum, or week by week. This again is especially helpful if you have problems getting payments from customers.

 

These are things that we think you should include on your tradesman invoice:

 

VAT registered? Here’s what you need to include:

  • Your VAT number
  • If you’re a limited registered company, you MUST include your company name
  • The time of supply – also known as tax point – if this is different from the invoice date.
  • The amount of VAT on each line of the invoice and the VAT rate charge for each

– or –

  • The total amount of VAT on the invoice and the rate of VAT applied to all items.

Still awake? Excellent! Then you’re on the right track to cutting the time and frustration when you’re creating invoices! Find out more about how YourTradeBase could save you time on your paperwork →


About the author

Adam Austin is the CEO & Co-founder of YourTradeBase.com - The easy way for service businesses to save hours on admin and paperwork.


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