Skip to contentSkip to search

Invoice

An invoice requests payment and documents a sale, normally showing the parties, goods or services, amount and applicable tax. Invoices support the entries in a sales or purchases day book and the customer's or supplier's ledger. The business checks quantities, prices and tax before recording them, and a later credit note can correct an overcharge or return. The invoice is evidence of the amount billed, subject to checking and correction.

Worked example

A supplier invoices 600 for goods supplied on credit.

Common mistake

An order is not an invoice and does not itself establish that a sale has occurred.

Where it appears in your exams

QualificationExamRelationshipPeriod
ACCA F1 Direct July 2027–August 2028
ACCA F2 Direct July 2027–August 2028
ACCA FA Direct September 2026–June 2027
ACCA K1 Direct July 2027–August 2028
CIMA BA3 Direct Official assessment-window verification pending
FIA FFA Direct September 2026–June 2027

Related terms