An invoice is a document that details the products or services provided by a company to a customer and the amount due for those. The role of an invoice is to serve as a request for payment and a record of the transaction.

Invoices are important for businesses for several reasons:

• Record keeping: Invoices are a record of the transaction between a business and its customers. They provide important information such as the date of the transaction, the products or services sold, and the amount charged. Keeping accurate records of invoices is essential for accounting and tax purposes.
• Payment tracking: Invoices provide a clear and detailed record of the amount owed by a customer. This makes it easier for businesses to track payments and follow up with customers who have outstanding balances.
• Legal protection: Invoices provide legal protection for businesses in case of disputes with customers over payment or delivery of goods and services. Invoices serve as evidence of the transaction and can be used in court to support the business's case.
• Professionalism: Invoices help to establish a professional relationship between a business and its customers. They demonstrate that the business is organized and takes its financial responsibilities seriously.

At TCB Pay, we offer advanced invoicing tools to help you run your business efficiently. In our TCB Pay App, available on Google Play and Apple Store, you can manage your invoices to keep an eye on your sales. Invoices play an important role in the financial management and success of a company and TCB Pay is there to support you. 

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Sources:

• www.freshbooks.com
• investopedia.com
• zoho.com