1. Monday 11 th March 2013 “Business documents are not really that important in a company.” TASK: Write down if you agree or disagree and WHY

2. Key Terms on invoice: VAT = Value Added Tax Trade discount = reduction in price E & OE = errors and omissions excepted. Means seller can correct any errors that may be discovered on form. N.B. Trade discount is deducted from the price BEFORE VAT is added on. INVOICE

3. Company name, address, contact Customer name and address Date invoice is sent Details of all goods purchased If any goods ordered are not available, they are included on invoice but not charged for Price of goods (per unit, total, discount and VAT) Terms of sale E & OE INVOICES

4. INVOICE No. VAT No. Order No. Date TO Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT)

5. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT)

6. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 5B & D Electrical Saws65325

7. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 5B & D Electrical Saws65325 10B & D Electrical hammer drills45450

8. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 5B & D Electrical Saws65325 10B & D Electrical hammer drills45450 50Assorted screwdrivers4200

9. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 5B & D Electrical Saws65.00325.00 10B & D Electrical hammer drills45.00450.00 50Assorted screwdrivers4.00200.00 975.00 (97.50) 877.50

10. INVOICE McGuire LtdNo. 52 96 Main StreetVAT No. 765432 Order No. 35Urlingford, Co. KilkennyDate 03/03/2013 TO Smith Brothers Hardware Northside Shopping Centre Coolock Dublin 5. Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 5B & D Electrical Saws65.00325.00 10B & D Electrical hammer drills45.00450.00 50Assorted screwdrivers4.00200.00 975.00 (97.50) 877.50 175.50 1053.00

11. INVOICE Electrical Distributors LtdNo. 78 Bluebell Industrial EstateVAT No. 765432 Order No. 49Dublin 24Date 04/10/2011 TO J. Murphy Unit 6B Limerick Business Park Limerick Total (Ex. VAT) Less Trade Discount Add VAT Total E & OE QuantityDescriptionUnit PriceTotal (Ex. VAT) 10Electro fridge-freezers320.003,200.00 8Electro range cookers450.003,600.00 15Heatwell microwave ovens80.001,200.00 8,000.00 (2,000.00) 6,000.00 1,200.00 7,200.00

12. Credit Note What happens if we decide to return goods? We have already received the invoice requiring payment, so this can’t be changed The seller sends the buyer a new document called a ???? Credit Note!!!

13. Credit note Details about the goods being returned Amount being allowed for the goods returned less any trade discount Amount of VAT charged on the goods returned Total Value including VAT E &OE

14. Debit Note If a seller has undercharged the buyer, they send out a debit note This is why E &OE must be included on the invoice

15. Interesting Fact Most firms will actually send out a credit note for the full amount of the invoice to cancel it and then issue a new invoice

16. Statement Seller to buyer End of month Details of all transactions between buyer and seller since last statement Total amount still owing Terms of Sale E &OE

17. Receipts Seller to Buyer Stating that payment has been received Must be signed by seller Proof of Payment