In daily business activities, especially in retail stores, supermarkets, restaurants or individual businesses, retail invoices are a familiar document. However, many business owners and accountants still do not really understand: What is a retail invoice? What is the legal value of this type of invoice and why does it play an important role in managing business activities?
The following article will provide a comprehensive overview of the concept, characteristics and essential role of retail invoices in business administration.
1. Definition of Retail Invoice
What is a retail invoice?
A retail invoice is a document created by the seller and given to the buyer when there is a transaction of buying or selling goods or services. This is evidence confirming that the purchase has been made between two parties, recording details about the product or service, quantity, unit price and total transaction value. Usually, retail invoices are designed and printed by individuals or business organizations to serve the management and tracking of revenue conveniently.
Value and management of retail invoices
Retail invoices often do not carry as much legal or tax value as official invoices managed by tax authorities. However, the role of this type of invoice is still very important in business activities because:
- Proof that a transaction has taken place between a seller and a buyer.
- Is the basis for resolving disputes when problems arise related to transactions.
- Clearly state the content, quantity and value of the goods or services purchased or sold.
- Support customers in returning or warranty products.
- Helps business owners control and reconcile daily store operations.
Distinguishing between retail invoices and sales invoices according to Decree 123/2020/ND-CP
Unlike retail invoices, sales invoices are official invoices used by business organizations and individuals to declare and calculate Value Added Tax (VAT) using the direct method. Sales invoices must ensure complete information such as:
- Invoice name, symbol and invoice number.
- Tax identification number of seller and buyer (except in some special cases).
- Details of goods, services and total amount excluding VAT.
- Invoice date and other required information as prescribed.
Understanding What is a retail invoice? and distinguish correctly from other types of invoices to help businesses perform accounting and management operations effectively, while complying with regulations on invoices and documents in business.
2. Classification of Retail Invoices
What is a retail invoice and what types are there? In the current market, retail invoices are often divided into 3 main types based on the number of copies, each type is suitable for different needs and business scales. Understanding invoice classification helps business owners and accountants easily select and manage invoices effectively.
2.1. 1-copy retail invoice
Single-copy retail invoices are the simplest type of invoice, often used in small retail transactions, directly between sellers and buyers. This type of invoice helps ensure transparency and clarity in each purchase.
- A single-copy retail invoice has only one copy, which is delivered directly to the buyer.
- The main purpose is to create transparency in buying and selling transactions, helping buyers clearly grasp the list of goods, prices and total payment amount.
- In addition, the invoice also facilitates the return of goods when necessary.
- This type of invoice is usually printed in books, for example 100 sheets per book.
- Common users are retail stores that do business directly with end consumers.
2.2. 2-copy retail invoice
Retail invoices are a common type of document in transactions of buying and selling goods at stores. In particular, 2-copy retail invoices are widely used due to their convenience and ability to store information effectively.
- 2-copy retail invoice includes 2 copies of paper with 2 different colors for easy distinction.
- Copy 1 is given to the customer, copy 2 is a copy kept by the store.
- Copy 2 is usually printed on carbonless paper to accurately copy the content of copy 1.
- The purpose of keeping copy 2 is to store and compare sales information, which is very useful in cases of warranty or product return.
- The invoice numbers on both copies are numbered the same for easy comparison.
- Normally, 2-copy invoices are bound into a book of 50 copies (100 sheets).
- This type of invoice is suitable for stores and companies that sell goods with warranty policies or need to store customer information for later comparison.
2.3. 3-copy retail invoice
The 3-copy retail invoice is designed to serve more complex transactions, when it is necessary to keep documents for multiple parties involved at the same time. This type of invoice helps ensure transparency and convenience in tracking and comparing information between parties.
- A 3-copy retail invoice consists of 3 copies, of which copy 1 is the original, copies 2 and 3 are copies of copy 1.
- Carbonless paper is also commonly used for this type of invoice to accurately reproduce the content.
- The purpose of a 3-part invoice is to deliver documents to a third party other than the buyer, such as a shipping company or other intermediary.
- Invoices are usually printed in a book of 50 copies (150 sheets), and all 3 copies have the same invoice number for easy comparison.
- This is a common type of invoice used by businesses that sell in bulk, shipping/delivery companies, or restaurants that order food.
Clear classification of retail invoices helps business owners and accountants choose the right type of invoice that suits their business scale and management requirements. Using the right type of invoice not only ensures transparency and clarity in transactions but also effectively supports the work of storing, reconciling and product warranty.
3. Content and how to create a valid Retail Invoice
To understand clearly What is a retail invoice? To ensure valid retail invoices, sellers need to comply with important principles during the invoicing process, while ensuring complete information as required by law.
Principles for creating valid retail invoices:
- Invoice at the time of purchase and sale transactions, no delay.
- The content on the invoice must accurately show the name and type of goods and services sold.
- Absolutely do not erase or correct on the invoice to avoid errors.
- Use the same ink color, the ink color does not fade to ensure the invoice is easy to store and check.
- Fully comply with local invoice regulations, if any.
- According to Circular 39/2014/TT-BTC, the seller is responsible for issuing an invoice when the total payment value is from 200,000 VND or more, or when the buyer requests an invoice even though he/she does not receive it but has provided sufficient valid information, with a clear reason.
Content required on retail invoice:
- Billing information: Invoice name, invoice symbol, invoice template symbol (if any), invoice number.
- Seller information: Company/store name, address, contact phone number, tax code; if there is a logo or symbol, it should be shown on the invoice.
- Buyer information: Name, address (write clearly and accurately), tax code (if any). For sales to individual consumers, it may not be necessary to write the name and address of the buyer.
- Product/service information: Fill in the full name of the product or service, unit of measure (for goods), actual quantity sold, unit price (price excluding VAT), total amount (total quantity multiplied by unit price). If the line is not filled out, cross out the remaining blank spaces.
- Total: Clearly state the total value of goods/services in numbers and words.
- Discounts, fees and charges from the state budgetc, trade discounts, promotions (if any).
- Invoice date (specify the date, month, year of the transaction).
- Time of digital signature on electronic invoice (if using electronic invoice).
- Signature of seller or authorized salesperson/dealer; buyer's signature is not required but is recommended to confirm the transaction.
- Other information according to transaction characteristics or management requirements such as sales contract, shipping order, customer code, company logo/emblem.
Popular retail invoice printing paper materials:
- Carbonless Paper: Used for invoices with 2 or 3 copies, allowing copying of content without carbon paper, convenient for storing multiple copies.
- Offset Paper 80gsm: Usually used for 1-copy invoices or cases where it is not necessary to keep a copy of the invoice.
- Thermal paper K80, K57: Popularly used as roll bills in supermarkets, shops, restaurants due to its convenience and speed.
Understanding and complying with how to create valid retail invoices not only helps businesses avoid violating the law but also increases professionalism and transparency in financial management, contributing to building trust with customers and partners.
4. Professional Retail Invoice Management
What is a retail invoice? This is an important document that records direct sales transactions between the business and the end customer. Effective retail invoice management not only helps businesses accurately track sales but also control inventory and resolve post-sales issues such as returns or warranties.
The Importance of Retail Invoice Management
Retail invoice management plays a key role in ensuring transparent and efficient business operations. Accurate invoice tracking helps businesses control sales, inventory, as well as assist in dispute resolution and timely and accurate financial reporting.
- Track sales in a transparent, clear manner, helping to grasp business performance immediately.
- Accurate inventory management, avoiding excess or shortage of goods affecting operations.
- Compare information in case of disputes, returns, warranties, helping to handle quickly and transparently.
- Generate full financial statements, support general accounting and tax reporting.
- Control all business operations, minimize the risk of error and fraud.
- Store transaction data securely, easy to look up and reconcile when needed.
Professional retail invoice management secrets
Professional retail invoice management helps businesses optimize sales processes, improve customer experience and effectively control business operations.
- Use point of sale (POS) software to automate retail processes, minimizing manual errors.
- Software supports quick payment and invoice printing, saving customer service time.
- Allows customizing invoice printing templates as required such as paper size, margins, brand logo, number of copies, helping to enhance professionalism.
- Automatically store all invoices and transactions on the electronic system, easy to search and report.
- Supports flexible connection with point of sale devices such as receipt printers and barcode scanners, helping to operate smoothly.
- Helps track inventory, revenue, and profits accurately, facilitating timely decision making.
- Provide detailed reports on business performance by day, week, month, helping business owners and accountants clearly understand operating efficiency.
- Software solutions like Bizzi have fully integrated these operations, helping businesses improve management efficiency and reduce operating costs.
Electronic invoice trend from cash register
Electronic invoices from cash registers are becoming more and more popular and are about to become mandatory. Sales management software integrating electronic invoices helps to automatically issue and transmit data, improving financial management efficiency.
- For direct-to-consumer retail industries, electronic invoices generated from cash registers are becoming increasingly popular and are expected to become mandatory under new tax authority policies.
- Modern sales management software has the ability to integrate directly with electronic invoice software to issue invoices and automatically transmit data to tax authorities, helping businesses comply with the law more easily.
- Applying electronic invoices from cash registers not only increases transparency but also optimizes financial management processes, minimizes errors and saves costs on printing and storing documents.
Bizzi: Comprehensive Solution for Retail Invoice Management
Bizzi is a specialized invoice management software for the retail industry, providing a comprehensive solution to help businesses process value-added tax (VAT) invoices quickly, accurately and in full compliance with legal regulations. Outstanding features of Bizzi include:
- Automatically create and issue electronic value-added invoices according to the standard form of the Ministry of Finance, ensuring legality and minimizing errors in the sales process.
- Manage all retail invoice data centrally on a single system, supporting easy and safe invoice lookup, modification and storage in accordance with electronic invoice storage regulations.
- Support exporting detailed revenue and VAT reports for each period, helping accountants conveniently summarize and settle taxes.
- Integrating inventory and warehouse control features with invoices helps businesses accurately track sales quantities, avoiding data loss and errors.
- Allows synchronization of invoice data with accounting software, minimizing manual operations and optimizing accounting processes.
- Store electronic invoices online according to legal regulations for at least 10 years, high data security and easy retrieval when needed.
- Friendly interface, easy to use, suitable for all sizes of retail businesses from small stores to large supermarket chains.
- Provide timely customer support with professional care and consulting services, ensuring businesses are always updated with the latest tax policies related to value-added invoices.
With Bizzi, managing value-added invoices in the retail industry becomes simple, fast and effective, helping businesses save time, costs and minimize risks related to invoice management.
Businesses register for trial at: https://bizzi.vn/dang-ky-dung-thu/
Conclude
Although not legally valid like VAT invoices, retail invoices are still an important tool to help businesses control transactions, manage goods and serve customer needs. Proper use of this type of invoice not only improves management efficiency but also demonstrates professionalism in business operations. To optimize the process of issuing invoices and managing finances, business owners and accountants should consider applying modern technology solutions, such as Bizzi's automation software, to ensure accuracy and save time.