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When is an invoice correctly drawn up i Romania?

03.11.2023
When is an invoice correctly drawn up i Romania?

In the digital age, most business transactions are done online and invoices are sent and received electronically. However, regardless of the format in which it is presented, every invoice must meet certain criteria to be considered legal and correctly drawn up. So when can we say that an invoice is correctly made out? We will explore this in more detail below.

The essential elements of an invoice

Any invoice, regardless of the nature of the transaction, must contain a minimum set of elements which prove the identity of the parties involved, the nature of the transaction and the amounts due.

Name and address of supplier and customer

The full name of the supplier and customer must appear on a correct invoice. If one of the parties is a legal entity, then the full company name and official address must be stated.

Invoice number in Romania

Each invoice must have a unique number, which distinguishes it from other invoices issued by the same supplier. This number may be assigned according to a numbering system of the supplier’s choice, but must ensure the uniqueness of each invoice.

Date of issue and due date

Any properly drawn up invoice must include the date on which it was issued and the date on which payment is due. The difference between these two dates is the due date for payment.

Details of products or services

An invoice must give clear details of the goods or services for which payment is requested. This may include product description, quantity, unit price and total value.

Total invoice value

This is the total amount due from the customer, and includes any applicable taxes or charges.

Invoices in different currencies

In the context of globalisation, it is increasingly common for transactions to take place in different currencies. What do we do in these cases?

Exchange rate

When an invoice is issued in a currency other than that of the customer’s country, it is essential that the invoice mentions the exchange rate used and the date on which this rate was applied.

Bank details for international transfers

In these situations, the supplier should provide bank details to allow international transfers, such as IBAN or SWIFT code.

E-invoices vs. traditional invoices in Romania

With technological advances, e-invoices have become increasingly popular. But what are the differences between them and traditional ones?

Advantages of e-invoices

They are faster, more efficient and often more secure than paper invoices. They require no printing or postage costs and can be stored and archived easily.

How do we check the authenticity of e-invoices?

Most e-invoicing systems offer methods of verifying authenticity, such as digital signatures or QR codes

Common errors in invoicing

Even with all the care in the world, errors can occur. What are the most common ones and how can we avoid them?

Calculation errors

Using billing software or a calculator can help reduce these errors.

Omitting essential details

It is essential to double-check each invoice before sending it to ensure that all the necessary information is present.

Rights and obligations of the parties

Both the supplier and the customer have rights and obligations in relation to the invoice.

Right to correction

If an invoice in Romania contains errors, the customer has the right to request correction before payment is made.

Obligation to pay on time

Once an invoice is received and checked, the customer is obliged to make payment within the agreed time limit.

Right to dispute

If there are irregularities or disagreements about an invoice, both parties have the right to dispute and seek an amicable solution.

Finally, a properly prepared invoice is essential for a healthy and transparent business relationship. By adhering to these criteria and paying close attention to detail, we can ensure smooth invoicing and fruitful cooperation with our partners.