What is an invoice?

An invoice is a document issued by a seller to a buyer. It lists the goods or services provided and the associated costs. The invoice serves as a request for payment.

When is an invoice required?

An invoice is mandatory when selling goods and services to companies or individuals in the EU. This applies especially to B2B (Business-to-Business) transactions and to cross-border deliveries within the EU. For private individuals, you do not normally need to issue an invoice unless a customer requests it or it is a sale where VAT (value added tax) is charged.

When should an invoice be sent?

An invoice must be sent no later than 15 days after delivery of the goods or services. 

How much time does a customer have to pay?

The payment term is often included in the terms and conditions of the invoice. Legally, the standard payment term in Belgium is 30 days after receipt of the invoice, unless otherwise agreed. For agreements between companies, this term can be extended to 60 days. Invoices addressed to private individuals must be paid within a "reasonable period". In practice, this usually means a payment period of one to two weeks.

What information is required on an invoice?

An invoice must contain at least the following information:

• Sequential Number: Each invoice must have a unique number. These numbers must be sequential, so invoice 123 must not be followed by invoice 125.
• Your information: Your company name, address, VAT number and bank account number.
• RPR address: If you have a corporation, list the appropriate court of commerce in your area.
• Customer details: Record your customer's company name, address and VAT number.
• Dates: Include both the date the invoice was issued and the date your offer was delivered.
• Descriptions: Provide a brief but specific description of each service or product.
• Quantities and unit prices: List the price per piece, meter, hour, etc., and quantity.
• Taxable amount: some text
  • The total price excluding VAT. If you use multiple VAT rates, for example for different types of products, calculate the total price for each VAT rate.
  • List the VAT rates of all your services/products, the VAT amounts in absolute figures and the total of all VAT (in euros).
  • When invoicing to foreign countries, you usually mention "reverse charge VAT" to indicate that your customer must pay the VAT. Also, if you apply an exemption, state this on your invoice.
• Reference to previous invoices: If you issue multiple invoices for the same service, reference the previous invoices.

Billtobox has its own tool for preparing invoices that ensures you don't forget anything! 

Not required, but recommended is to also include your terms and conditions and an interest for late payment. 

How do I determine the correct VAT rate?

VAT is a tax on consumption that is ultimately paid by the end user. This tax is collected at each step in the production and distribution process. The standard rate is 21%, but there are reduced rates of 0%, 6%, and 12% for specific categories of goods and services. Check with your accountant for more info. 

What happens if I make a mistake on an invoice?

If you make a mistake on an invoice, you should correct it by issuing a credit note (or debit note). A credit memo cancels all or part of the original invoice and contains the same information as the original invoice, but with the appropriate corrections. You then create a new, correct invoice. This keeps your records correct and prevents problems on tax returns.

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