Accounting glossary
What is invoice?
The document that demands payment for a sale: what was sold, to whom, for how much, with which taxes, due when. In accrual books the invoice is the moment revenue exists — payment is a separate event.
Example
Invoice 0227 lists five items totalling $3,086.60, adds $216.06 of PST and $154.33 of GST, and comes to $3,456.99 — paid in cash the same day.
In a properly integrated system that one document is simultaneously a receipt, a stock movement, a tax record and a ledger entry.
In SeroBooks
Invoices post ledger, stock and tax in the same save, then print, email or WhatsApp out. Invoicing →