Essential Business Documentation: Purchase Orders, Invoices, and Bills of Exchange

1. Difference Between a Purchase Order and a Waybill

Purchase Order: A document stating specific purchase requests.

Waybill: A document that verifies the requested goods have been delivered to the customer or supplier and accompanies the goods during transit.

2. Mandatory Invoice Requirements

• Invoice number and series.
• Full name, surname, and tax ID of the recipient (not required if the purchase amount is under 90 euros).
• Total transaction amount.
• Description of the operation.
• Date and place of issue.
• VAT rate and applicable fees.

3. Expiration Terms for Bills of Exchange

• At sight: The bill expires when the holder chooses to present it.
• At a fixed date: The bill expires on the specified date.
• At a fixed period after date:
  • Days: Expires after the specified number of days.
  • Months: Accounted for from the date of issue.

4. Understanding Expense Notes

Expense notes cover costs related to a sale, such as delivery charges and packaging. These may be billed alongside the goods.

5. Drawees and Checks

Who is the drawee of a bill of exchange? The party responsible for paying the amount at maturity.

What is a check? A document ordering the payment of a specific amount by the drawee, typically a bank.

6. Handling Discrepancies in Orders and Deliveries

If the material received does not match the order, you must review the delivery note against the goods, request the correct merchandise, or return the excess. To verify billing accuracy, always compare the packing list against the invoice.

7. Distribution of Delivery Note Copies

Delivery notes typically consist of 3 or 4 color-coded copies:

• Buyer: Two copies; one is kept, and the other is signed and returned to the seller.
• Seller: One or two copies retained for internal company operations.